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Earning rewards from games feels exciting, but do you know exactly how much you have earned? Keeping track of your reward points, cash rewards, and withdrawals could get confusing.
However, this doesn’t need to be complicated. You can simply use a tool such as Beem to keep track of your rewards, withdrawals, and how much cash you’ve actually earned.
Using a few tips, you will easily organize your earnings and get rid of the hassle. Let’s explore some ways to organize your records without any trouble.
Why Play-to-Earn Earnings Are Hard to Track
If you’re playing multiple games that reward you for completing certain tasks, hitting milestones, or playing eligible games, then you may struggle to keep track of your play-to-earn earnings. Here’s why play-to-earn earnings can be hard to track:
Multiple Games and Earning Apps
Playing multiple games can mean you’ll have multiple balances, rules, and payment history to keep track of. If you’re not keeping track of everything in one place, you’ll easily forget how much you’ve earned.
Pending vs. Redeemed Rewards
Pending rewards are amounts you may have earned but cannot withdraw yet. They should be recorded separately from rewards that are available for cashout.
Redeemed rewards must be recorded separately since they give you information about what you have already withdrawn or earned. Distinguishing them will help you avoid including the same earnings in your account twice.
Different Cashout Methods
Games can have different withdrawal methods, rules, and payment schedules. By keeping track of all your transactions in one place, you’ll know where your money has gone and if any fees have been taken.
Small Transactions Adding Up
It can be difficult to keep track of smaller amounts of money you’re earning from gaming. Keeping track of all your eligible earnings will help you see how much you’re earning overall and how much time and money you’re spending.
What You Actually Need to Track
Play-to-earn games may offer some rewards to players that complete certain tasks, hit some milestones, or play certain games. By keeping a few things in one place, you can keep track of your earnings. Here’s what you should track:
Date and Source of Earnings
Record the date when each reward was earned and what game or app provided it. This may help you track all your transactions and compare your activity in different programs.
Reward Amount
Track each reward amount and its status as pending, available, or redeemed. This distinction will give you a more precise estimation of your earnings.
Time Spent Playing
Try to evaluate how much time you spend playing each game or doing certain activities aimed at earning. Recording such information along with reward amounts will allow you to estimate your approximate earnings per hour.
Cashout Date and Method
Take note of the date when you made a withdrawal request, the payment method that you used, and the date when you received your payment. This way, you will be able to track pending rewards and compare them with the ones that you requested.
Fees or Gaming Expenses
Keep track of any fees you’ve paid to withdraw money, entry costs, and any optional purchases within the games. This will help you work out how much you’re actually earning.
Build a Simple Play-to-Earn Tracking System
Tracking gaming rewards becomes easy once you develop a habit of following the same steps after every session. Here’s how you can create a simple tracker for your gaming rewards:
Start With One Spreadsheet or Notes App
Start with a single spreadsheet or notes app to hold all your gaming records. Add the columns for the date, app name, rewards, play time, costs, and cashouts.
Create Separate Categories for Each App
Once you have created your tracker, create a label or category for each gaming app. This way, you know where your rewards are coming from and can compare.
Record Earnings Once Per Session
After each gaming session, keep track of how much you’ve earned and how long you played for. If you’ve earned a reward, you can add it to the same entry.
Reconcile Your Balance Weekly
Set aside a few minutes each week to check your tracker with your balances and transaction history within your gaming apps. Add anything missing, check your unclaimed withdrawals, and ensure the amounts are correct.
Read: How to Move Mobile Game Earnings Into Your Bank Account for Daily Spending
Measure Whether Your Gaming Time Is Worth It
You may earn rewards from play-to-earn games when completing tasks or hitting milestones, but it can take varying amounts of time. Keeping track of your earnings will help you see what’s providing you with value. Here are a few things you can check:
Calculate Rewards Per Hour
To get an approximate estimate of your earnings, divide your rewards by the time spent playing. Subtract your expenses to get net earnings, and leave pending rewards apart from completed payments.
Compare Different Games
Once you know how much you’re earning per hour, compare the different games you’re playing. Consider what games have the best value based on milestones, payout rules, and time spent.
Identify Your Best-Performing Activities
Looking at your records will help you see which games are giving you value for your time and money. Look at games with completed milestones and real payouts.
Drop Low-Value Games
If you’re constantly earning little for the time you’re playing, avoid playing as much or stop playing altogether. Check the payout rules first to ensure you’re not missing out on eligible rewards.
Keep Cashouts and Spending Separate
Records of your gaming rewards alone won’t give you the actual amount of money you earned if you don’t keep them separated from your cashouts and expenses. Here’s how you should keep your cashouts and expenses organized:
Track Earned vs. Withdrawn Rewards
Make a record of the total amount of rewards you earned and the amount of money you have withdrawn. This distinction will help you to see how many rewards you still need to receive.
Record Any Entry Fees or Purchases
If there are any costs to enter the game, in-game purchases, or any other costs, then note these in your tracker. This will help you see how much you have left once you have subtracted your costs.
Don’t Count Pending Rewards as Cash
Not all rewards allow you to withdraw them immediately since they require you to reach some milestones or perform additional actions. Keep your pending rewards separate from your received payments.
Keep Receipts and Transaction Records
Save payment confirmations, transaction history, and any costs you incurred while playing. This will help you easily see how much you have received and help with any missing payments.
How Beem Arcade Fits Into Your Tracking System
Play-to-earn games provide rewards for certain activities or milestones. Beem Arcade allows playing of participating mobile games and earning of eligible rewards through achieving certain milestones. Here’s how to integrate Beem Arcade into your tracker:
Track Progress Across Available Games
Record participating games and milestones mentioned in their offers. Adding the date you start each activity will help you monitor progress and distinguish between different offers.
Monitor Eligible Rewards
Find out what rewards you have earned through meeting the requirements of an offer. Separate pending and available rewards.
Record Completed Cashouts
Note down the amount and date of requesting a cashout. After receiving money, indicate the completion of the cashout in your record.
Add Beem Rewards to Your Monthly Tracker
Include your Beem Arcade earnings along with rewards from other apps in your monthly tracker. Keep them separate to find out how much you have earned and received.
Tax and Recordkeeping Considerations
Keeping play-to-earn records will help you organize financial information and respond to questions regarding payment. Tax treatment may depend on your situation, so it is good to maintain records. Here are some recordkeeping points to consider:
Why Keeping Earnings Records Matters
Recording your gaming rewards will enable you to evaluate your earnings and received payments. Maintaining clear records can help when preparing financial information for taxation.
Save Relevant Transaction History
Save the payment confirmation history, the history of rewards, banking statements, and receipts related to gaming costs. Keep such data safe because you will be able to look through the payment details or any other information.
Understand That Tax Treatment Can Vary
Depending on your situation, tax rules can vary. If you are earning a lot, then you should check the latest guidance from the IRS or speak to a tax professional.
Conclusion
Tracking play-to-earn income becomes much easier if you make all rewards, payments, and withdrawals in one record. Keeping simple records will enable you to get your income easily without getting confused.
Updating your records regularly and verifying your transactions will prevent confusion and make your gaming earnings management easy. You do not require complex tools to maintain your records.
Check out Beem for a new way of managing your gaming rewards, and develop smart tracking practices to ensure that all your earnings are recorded!
FAQs
What is the easiest way to track play-to-earn earnings?
The easiest way is to keep track using a spreadsheet or note-taking app. Keep track of your app, when you earned it, how much you earned, time played, costs, and whether you’ve made a withdrawal.
Should I track rewards before I cash them out?
Yes, you can track your rewards before withdrawing. Just make sure to add whether they are pending or available.
How do I calculate my earnings per hour?
You can calculate earnings per hour by dividing the total rewards earned by the hours played. For net earnings, deduct the relevant expenses and separate the pending rewards from those paid out.
Should gaming expenses be included in my records?
Yes, you should track any costs associated with gaming. This includes entry costs, optional purchases, and withdrawal charges. This will help you to work out how much value you are getting.
Do I need to keep records of gaming rewards?
Yes, keeping track of your gaming rewards can help you to keep track of your earnings, withdrawals and costs. It can also help you keep your finances organised.
Can I track Beem Arcade earnings in a spreadsheet?
Yes, you can make records of Beem Arcade rewards in a spreadsheet. Track participating games, eligible milestones, reward status, cash-out date, and amount earned to keep your records organized.
