I should comment on the issue of accounting for all the other stuff you get for gambling. I recommend cash basis accounting, which means if something can get monetized and that money goes into your gambling bankroll, then it counts. Otherwise, if something can't get monetized it doesn't have any cash value in cash basis accounting. Most if not all gambling that I know of is done with cash, so cash basis accounting is probably the best fit. To give an example, if you were going to spend $10 from your day job for dinner, but instead won a free buffet coupon from the kiosk and put the $10 in your gambling bankroll, that counts, plus $10 to your bankroll. On the other hand if you won an unlimited pass to the steakhouse and ate so much you felt you should tip $20, $10 from your day job and $10 from your gambling bankroll, that counts also, but minus $10 from your gambling bankroll, so it ended up negative EV to your gambling bankroll.
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Posted by: nightoftheiguana2000@yahoo.com
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