Friday, February 02, 2007

The idea of money management and having a bankroll specifically for gambling
is a foreign concept to many casino players. Most casual players simply
deposit money when they want to play and that is fine, but unless you
understand money management, you could be putting more at risk than just
your bet. Money management is not a system for winning at Roulette,
conquering the Baccarat tables or beating any other game of chance. It's
simply a way to ensure that you have fun, extend your game play and don't
lose more than you can comfortably afford. The opportunity for a big win is
certainly possible for anyone, but you need to make sure your money lasts
long enough to give yourself that chance. Money management and gambling may
sound like complete opposites, but in reality those who understand gambling
realize that money management is vital to success. If you are used to
entering a casino or playing casino games online without using any money
management techniques, then this article is for you. Here are some tips to
keep in mind when you are playing at online casinos: Your "bankroll" is a
sum of money that is set aside specifically for gambling purposes. By having
a bankroll it means that you are only ever gambling with money that you can
afford to lose. You are not gambling with the rent or grocery money. If you
lose you are not hurting yourself or loved ones. It is important because
those who do not have a bankroll are taking online gambling from being fun
to being a serious issue if things go wrong. Only ever gamble with your
bankroll and within your limits.
By having a bankroll your can control what you risk. Have a plan and set a
limit that you are happy to wager and if you reach your limit then walk away
and take a break. Understand that gambling involves a lot of luck and so you
can't win all the time. When you are on a losing streak then resist the
temptation to place larger bets. Doubling your bets when losing is a
mythical betting system that simply does not work. Also do not try and win
back all of your losses with one big bet. This is unnecessarily risky and
will only cause more grief is the losing continues. A better approach is to
increase your bet sizes when you are winning and try to take advantage of
the good run, and reduce your bet sizes when you are losing to minimize the
damage. If you've had an excellent winning session then do not let it go to
your head. Be thankful that the dice rolled your way on this occasion and be
happy to cash out a profit. Do not think you are now a high roller and start
to play at limits that are beyond your bankroll. You should only play at
limits where your bankroll can handle the variance of either big winning or
losing sessions. When you win, cash out and enjoy your success.

When you're in the middle of a losing session you need to have patience to
work your way through it to come out in front. Don't be concerned if you go
on a bad streak, as each game is a new event and the previous results have
absolutely no impact on the next game. Statistically you are the same chance
of winning the next game as you were the last, no matter how many times the
dealer turns over Blackjack!

Be smart with your money and enjoy your time gambling at online casinos so
that you are never in a situation where you've lost more than you can
afford. Remember that gambling should always be fun and you'll enjoy it much
more when, thanks to your wise money management techniques, you still have
cash in the Online Slots when that huge jackpot strikes!