The most important thing in managing money when gambling online is to clearly understand one's goals and aspirations.
Do you want to clinically play a system to try and grind out regular
winnings, or do you enjoy the adrenaline rush of placing some gutsy bets more
than any other aspect of the game?
Do you want to try and make as much money as possible, or do you just want to
make sure that you always have a reasonable amount in your bankroll with which
to have some fun?
Each approach will have implications for how you approach money management,
and it is vital to be completely honest with yourself at the outset so that you
can play and manage your bankroll appropriately. Of course this decision is also
informed by how good you are, and you need to be just as honest about that. The
golden rule of managing your gambling bankroll, if there is one, is to keep your
gambling bankroll strictly separated from your other funds, that you would use
for living expenses.
The downfall of every gambler is gambling with money they can't afford to
lose. This puts you them under tremendous pressure to win, and they cannot
afford to take a run of bad luck - clearly a no-win situation. The trick is that
you must not need the money that you use to gamble with. See it as money that
does not belong to you anyway, or money that you have already lost.
This will relax you on the one hand, and will help you not to take your
losses to heart too much. This is an altogether better situation to be in. If
you can totally master these two crucial aspects of money management, you will
find that it is easier to win and keep track of your money. Keeping track is
very important as well, because it is a way of keeping yourself honest. If you
are unable to be realistic about managing your gambling bankroll along these
lines, you pretty much throwing yourself to the wolves.
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