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MANAGING YOUR MONEY


Once you have learned the proper playing strategies, you are on your way to becoming a successful gambler.  However, you still have to have develop a solid plan on how to manage your money. If you do not have one, losing is inevitable. We have a general set of guidelines for you to follow that will help maximize your profits and minimize your chances losing your bankroll. 

1. Never play with money allotted to your bills and or savings. 

2. At the beginning of each session, decide what is the maximum amount that you can afford to lose. If you lose that amount, stop playing. It is also good to figure out a monthly budget. This will help you in deciding the amount of which you can gamble with each session.

2. You should never increase the bet size on consecutive losses. This will get you in the hole in a hurry. However, on consecutive wins, you may increase your bets if you so decide.  Most strategists would recommend a 50% progression. A 50% progression increase goes like this. When you win, you can make your next bet for the same amount, plus 50% more. The progression would look like this for a $3 bet: $3, $5, $8, $12, $18, $27, $40, and so on. You can continue to increase your bet until you lose. Once you have lost a bet, start over again at $3, or whatever dollar amount your bankroll allows. Another recommended progression in the 1, 2, 3, 5 win method. With this method, you can increase your bet from 1 unit, to 2 units, to 3 units, and finally to the maximum of 5 units. Again, only continue to increase your bets on consecutive wins. The progression would look like this for a $3 bet: $3, $6, $9, $15 then back to $3. After you make the maximum 5-unit bet, win or lose, make your next bet 1 unit. This is the more conservative approach of the two progression methods suggested. Also, the size of your initial bet depends greatly on your bankroll. We have used the $3 bet for example because many players don't have a large enough bankroll to place the big dollar bets.

3. Your bank role for the progression methods listed above should be enough for 100 bets. If your minimum bet is $3, you'll need a $300 bankroll to play with. 

4. Never bring you your entire bankroll with you. Only bring enough for about 2 or 3 playing sessions, (roughly 40 to 60 units).  Play in sessions of 20 units at a time. Quit the session if you lose 20 units,  or if you win 10 units.  The sessions would look like this:  a $3 player with a $300 dollar playing bankroll would use $60 per playing session and quit if the $60 was lost, or $30 won.  

5. Although you should never be greedy, you should also never quit in the middle of a winning streak. If you've managed to win 10 units, continue to play with the goal of winning 10 more units. You can keep this going as long as you are winning. Once the wins start turning into losses, walk away with your profit. Understand that a small profit is better than breaking even. Every little bit you're ahead adds up over time 

6. Your playing bankroll is going to increase when you are winning. This is a good time to increase the size of your bet. As such, your bank role will decrease when you are losing. In this case, it is recommended that you decrease the size of your bet. Your minimum wager should always be equal to 1/100th of your bankroll when using win progression methods. 

Important Note: One thing you should never do when gambling is trying to win back what you have just lost. Many players will get themselves into serious trouble this way. The best thing you can do is to cut your losses and play again another day. All gamblers, at some point in time, are going to experience losses. The way that you handle them is a big factor in whether or not you are going to become a winner. If you lose one or two sessions, it's best that you quit for the day. Don't dig a hole for yourself that is to deep to get out of. The Casinos are still going to be here tomorrow, and if you follow the proper playing strategies, you'll be winning again in no time!




























 


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