One sure way to acquire proper gambling money management techniques while playing is to “take the money and run” when well enough ahead.
The late Frank Lefty Rosenthal, a sports handicapper whose real life character was portrayed by Robert De Niro in the movie Casino, once said during an interview, “When you’re gambling, it’s really not hard to win. It’s hard to quit.”
If you have a circle of friends who visit casinos, you
probably heard these responses time and time again when you asked, “How did you
make out at the casino?” And with some hesitation it’s usually, “Well, we did
okay”. Or, “We’re about even”. And then there’s, “I had a good run in blackjack
but then I lost it all in the slots”. Sometimes you’ll hear, “My husband won a
little but I lost a lot”. Then there’s the best one of all, “Hey, what the
heck, you can’t expect to win, we were just out for a good time”.
If you want to become a responsible gambler try to exercise some discipline when you’re winning so you can leave a winner. It takes self-control but believe me, you’ll feel a lot better when your cash out ticket(s) or chips tally up to a larger sum than what you walked in with.
Just because your entertainment dollars are part of your disposable income doesn’t mean that you have to dispose of it so quickly at the casino. Sure you’re going to lose occasionally, but there are times when you’re going to win, especially if you apply proper gambling money management.
We’ve all seen casino advertisements that brag about their loose machines and generous odds. They boast about paying millions in winnings to players. That may be true but that does not mean that all those millions ever left the casino.
Here are a couple of tips you may
want to consider about gambling money management the next time you’re out to play a little and an opportunity
arises to take the money and run:
YOUR MACHINE BUDGET – Keep your gambling money separate from your other bankroll. Consider dividing it into separate sessions. For example, if you’re playing three credit quarter slots with a $100 budget, break it up into five $20 deposits instead of putting the entire hundred into the machine. Whenever you hit a payout or payouts that double the buy in amount, cash out the ticket right away and repeat the process for the remaining sessions. You may find yourself with a few more bucks then you came with.
YOUR TABLE BUDGET – You should
consider buying in for at least twenty times the table minimum for each
session. For example, $100 for a $5 blackjack table. The same applies when
playing other card games, roulette, or craps. While playing, try separating the
chips from your winning wagers from your playing chips. If you’re having a good
run and your winning stack is at least double your buy in, say goodnight to
your friendly dealer.
Remember that the house edge is always with the
casino over the long term. When you have an opportunity to pick up winnings in
the short run, take advantage of it. Remember responsible gambling is money management.
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