Play Smart! With Your Money

money

Play Smart!

Unless you have unlimited resources for play at casinos (who has?) there’s a few pointers to take into consideration. One thing is playing against other people, if you play games like poker or backgammon, its your skill and luck that decides your winnings and losses. However, if you play games against the house (the casino) its important that you keep track of your money.

Money management isn’t about playing with a certain play-strategy, but it will help you control the amount of money that you put at risk and will enable you to play longer on your bankroll. Since all casino’s keep around 5% of all bets in average, the first suggestion is to set goals for wins and losses, since you are guaranteed to loss if you keep playing forever. So lets say your limit for a month is 500$, and amount you can lose without hurting your real life economy. One way to go about it, is put all the money on “red” on a roulette, and win or lose. However that just wont give you much fun for your money. If instead you deposit 50$ on the casino, and set your loss limit to 100$ for the day, you can deposit 50$ more, before you reach you loss limit. So if you lost the 100$ you stop playing.

The Win limit is the second, equally important part of money management – at least if you want to keep some of your winnings. One way is to say, when you reach 300$ you will stop playing, and withdraw all money, but this often removes a lot of fun, and can actually ruin your winning streak.

So the other and preferred option would to say, that your win limit is 300$ – but instead of withdrawing all 300$ just withdrawal 50% or 75% of the money or a place in between. Like withdraw 200$ and keep playing for the 100$. This gives you profit on the play session AND lets you continue to play. So you start over with the same limits and play on from the 100$, on a good day you reach your goal several times and getting many withdrawals. On a bad day you will still keep you initial 200$ that you withdraw, even if you lose the 100$ you kept in the game.

This is the overall recommended way to go about it, since this system allows you to keep good winnings and you don’t have to walk away from a good run. What also goes to your advantage is, that this actually lets you take some of the money other players losses. Since all casinos pay out 95% and many players tend to win without knowing when to say stop, and then lose all they won. This is the money you want to get a slice of.

December 4, 2013: posted in Money Management No Comments

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