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Money Management Made Easy

Discussion in 'Casino Gaming' started by Ben Jammin, Jan 7, 2015.

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  1. Ben Jammin

    Ben Jammin VIP Whale

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    Gang it's not rocket science.

    Set a win goal and a loss limit and stick to it.

    Divide your bank roll into sessions. If you're trip is for three days and you have a $3000 dollar bankroll say three sessions a day for $300 each. That's pushing it. Your stake should never be more than half your bankroll, even over the full term. This gives you a psychological edge because you are not betting "Scared Money".

    If you hit a big jackpot or have a killer run on the tables pocket half your winnings and play out the other half. In this way you are guaranteed to walk with at least some of your winnings. Never touch you pocket money again until you get home.

    The most sickening and sinking feeling in the world is to win a good stake and then lose it all back.

    You can set your limits, but they can't change. Mine is generally 40 to 50% but it can be whatever you want it to be. Some professional gamblers set a 20% win goal.

    So if I buy in with $300 and I lose $150, I'm done. Never try to "Win It Back" Go lick your wounds and come back when the Gods are in a better mood.

    If I'm up to $600 from $300 I put the original stake and 50% of my winnings in my pocket and play out with the remaining $150. So, $450 in pocket and that leaves me $150 to play with. If I double that I pocket $75 and so on. If I lose all of that so what!

    Learn the basics of the game. Never play a game if you don't know the rules or basic betting strategy. You can practice on line at any one of a hundred web sites with tutorials. It's like taking your driving test. Study a little bit before you play. Get familiar with the game.

    Keep a positive attitude. There's something about a winning attitude. Let the force be with you. Never cry over spilled milk. Don't whine. If you get tangled up then tango on. Never let them see you sweat.

    Don't get drunk. Get tipsy but never get drunk. Drunks lose.

    If your wife is nagging you to go but you're on a roll get another wife.

    Need I say? Play only the games with the best player edge. Never play 6 to 5 Black Jack. Slots will eat your bankroll faster that any other game generally because you play fast with a high house edge. Learn Video Poker.

    If you're a table player use basic strategy on any game. Basic strategy cards are available at any gift shop or you can print them from the Wizard of Vegas web site for free.
    What is Basic Strategy? Well if you have to ask then you should do some homework before you risk your hard earned dollars.

    Just remember this, "Luck Favors The Prepared Mind"

    Good Luck! you'll need it!

    .
     
  2. matti

    matti Low-Roller

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    How 'bout them Cowboys?
     
  3. LandryBalla9

    LandryBalla9 High-Roller

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    I think there's a lot of prudent advice here, however, it's a bit more difficult to implement some of the strategies while actually in the moment as opposed to conceptualizing from afar. In other words, I think when you're up and the beverages and hi-fives are flowing, people- including myself- get caught up in the moment. That being said, however, I think there' s a fine balance between blowing half your bankroll in the first night and blowing it all and hitting the ATM. Whereas the former can be frustrating, it's far more understandable than the latter which can be utterly problematic.
     
  4. DeMoN2318

    DeMoN2318 The DERS

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    I dont get it...

    so you take more than you will even risk? (take $3000, but only have 9 sessions of $300...$2700)...why take $3k then? all for the pyscological edge?
     
  5. LandryBalla9

    LandryBalla9 High-Roller

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    that's what I'm trying to figure out also lol. Seems a bit professorial imo

     
  6. Jordan

    Jordan Caveman

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    hmmmm.....
     
  7. LoveDowntownVegas

    LoveDowntownVegas Low-Roller

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    Or.....

    Go to Vegas. Have fun. live bigger than you are. take that $3000 bankroll and spend it like you got it.
    get drunk. real drunk. go on a hot streak at the dice table and double that bankroll, then give it all back if you're having a good time. chat up the lovelies at GG.

    once upon a time I went to vegas and I grinded all weekend. poker w/ no drinking, BJ with winning sessions, the occasional hot streak at a dice table where I would get up a little then cash it in.
    I got back from Vegas (a winner) yet something was missing. I felt like I worked all weekend. I wanted to go back to vegas to have my fun. to get drunk, to sit at a table for hours, or move to a different table when I felt the need. I wanted to gamble and have fun, not just gamble.
     
    Futbol - final game
  8. matti

    matti Low-Roller

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    You, sir, have a Vegas problem!
     
  9. RockyBalboa

    RockyBalboa VIP Whale

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    Yessir!!
     
  10. NickyDim

    NickyDim VIP Whale

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    We set daily limits and if we reach them we look to do something else, usually involving lots of alcohol. But my sit down(or session) limit is simple. Lose half my buy in and walk, double my buy in and walk, and while I'm inside those limits I play and drink and have fun. At the end of the day whatever my wife and I have from our daily budget goes into the return envelop and is not touched. We don't skimp on our daily budget, so we never feel "cheated" about not touching the return money. Then when we get home we either deposit that money back into our vacation fund or blow it on something for the house like a new sofa.
     
  11. kingslender

    kingslender Low-Roller

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    Fixed
     
  12. bjpcyclone

    bjpcyclone High-Roller

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    This is where you lost me.
     
  13. matti

    matti Low-Roller

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    lol!
     
  14. undathesea

    undathesea Grandissimo

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    I used to have a bookie that served up a degenerate gambler that always lost. Once the bookie questioned why the degenerate kept betting when he was losing certainly more than he could afford to lose (a bookie with a heart... go figure). The gambler told the bookie quite frankly...

    "Ya don't bet what ya got. Ya bet what ya need!"
     
  15. LoveDowntownVegas

    LoveDowntownVegas Low-Roller

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    :) - 8 more days!!!

    Go Cowboys!
     
    Futbol - final game
  16. bedaniels

    bedaniels Low-Roller

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    My only money management rule: Limit your loses never limit your wins.
     
  17. Not at the table Carlos

    Not at the table Carlos Low-Roller

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    To the OP, you post this like you have it all figured out and people are fools for not realizing your way of gambling. I say gamble however the heck you want. Sometimes I buy in with 200 and if I quickly lose 50 I will quit for several hours. Other times I won $40 and stop for several hours. Or I slowly lose it all...or quickly make $200 and slowly lose the profit.

    Bottom line is, to me gamble the way you want and for as log as you want. The only "best" way to gamble is to not gamble. We all know we are losers in the long run anyway, and the long run is built by series of short sessions, no matter how much you win or lose in each short session
     
  18. Scottndindy

    Scottndindy Low-Roller

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    These are great thoughts but there are some additional factors that can make some advise a recipe for disaster. An example would be having an average bet for a 3K bankroll. If you divide your sessions into 10 $300 sessions your risk of ruin goes through the roof. If you only are willing to risk 150 of the 300 before walking away it is even higher. Most people who have a 3K bankroll don't want to max bet $5 per hand, but if you can only lose $150 before walking away you don't really have a choice.
     
  19. tim421

    tim421 Tourist

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    I usually bring around 4000 for a typical 4 night stay. I always break it down by day. I don't get obsessed with each session, other than knowing how much I have left for the day. Only carry
    that days cash with me, the rest in the safe. Day 1= 500, Day 2 =1000, Day 3 =1000, Day 4 = 1500. End of each day winnings go to safe to go for next trip. I find when I first get there I am
    satisfied with lower bets, but by day 4, 5 dollar blackjack or craps doesn't seem very thrilling. Best advice I have is only use money from a gambling fund. I put away a small amount every
    week and never seem to miss it.
     
  20. bloom1966

    bloom1966 Tourist

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    VERY well said!!! :thumbsup:
     
    Las Vegas 2017
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