The Basics of Holding Onto Your Cash!
by Ryan D.
Is it not funny how players can play at an online casino, make the right
bets, play the right way and still walk away broke? Surprising though how
many players fall into this category though. Monet management is critical when
playing at the online casinos.
Basic money management principles are all that's required for players to
protect and grow that initial bankroll. The following are a couple
of easy steps. Stick to these and you won't see your bankroll dwindle away
in no time:
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- Never bring your whole bankroll along to 1 gambling session. This
is a golden rule that must never be broken. Set a budget and stick to
it. Divide the roll by the number of days play wanted, and then by the
number of playing sessions wanted per day, to arrive at the amount that will
be a single-session bankroll. This amount - for a single days play - must
never be overstepped.
- Set winning goals for each day. ie: aim to win 50 -
100% of a single-session bankroll. Once you have achieved his goal or
target, put these winnings and his original bankroll aside, and play only
with the balance of the winnings. Further winnings can also be put
- Set a predetermined percentage increase for each winning bet.
Players hereby use a winning progressive way of betting ie: The player
increases his winning bets by 50% after his 2nd win: $5, $5, $7, $10, $15,
$22, etc. He will continuously flat bet (the table minimum) when he losses.
- Stick to cash. When betting, stick to cash. This is great
advice, as players often get taken in by the Casinos' great marketing and
promotions. Take note of playing with chips and their names!- A 5c chip is a
"nickel" and a 25c chip a "quarter." Players must stick
to betting with cash to realize exactly what is going out and of course,
what is coming in!
- Chips = Cash. When playing with chips, always remember that this is
cash as well.
- Do not double up when down. Another simple golden rule that can
save a lot of money! Don't double up to catch up.
- Be disciplined. This applies to both money and betting
strategies. A successful gambler and player sets stop losses and goals
for winning. He cashes in what he wins and does not get too greedy but
follows a strategy, that likewise limits his losses. ie:
When losing half a session bankroll (loss limits), walk, and when doubling a
session bankroll, ... walk!
- Shop around for the best casino house rules, playing conditions
and the best odds. Players should at all times look for the most
profitable playing opportunities and forget about playing anywhere where the
house takes more than 2%.
- Do not EVER gamble with money that one can't afford to lose.
- Do not EVER use credit to gamble.
- Do not walk away from a hand on a winning streak. Why not? Because
fairytales happen and dreams do come true...sometimes. Who knows? But
when that hand turns and starts losing...walk baby!
- The basics don't help get more cash, but help protect cash! A sound
money management strategy minimizes a players' losses and can protect his
winnings by using a disciplined approach to money. It does not change
the house advantage nor guarantee a higher success or winning rate!
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- Common Online Casino Gambling Mistakes