Just like real life, money management has more to do with how you budget your money, rather than simply the size of your bets. Most gambling experts suggest that you determine how long you plan to play in the casino, and set win goals and loss limits. Write them down and keep to them. You should therefore divide your funds into separate sessions accordingly.
For instance, if you’re travelling to a casino destination for a two-day stay with £1,000 in funds, divide that stash into two £500 sessions. Then take each £500, and slice each into four £125 sessions that will be designated for two-hour periods. Find that lucky slot machine or table, and get yourself started.
Play with discipline and knowledge, and if you win 50 per cent of your session, about £60 in this case, quit playing. Never stop in the middle of a streak, but as soon as it’s obviously over, step away. Take that £185 and put it away. Some players actually bring envelopes with them. When they reach their win goal, they slide the cash in the envelope and mail it home.
If you can’t afford £1,000 in funds, use a similar formula for the money you can afford.
Remember, when you win, you are not playing with the "casino’s money". The only money the casino has is sitting in the dealer’s chip rack. When it arrives on your side of the table it’s your money, not the casino’s.lf you refer to it as the casino’s money, there’s a good chance it will be in a very Short time.
If you lose the £125, take a walk. There’s no point in setting loss limits unless you’re the discipline to stick to them. Sit in the lounge. Do a crossword. Or even go to your room and read a book. Whatever you do, it’s got to be better than losing. Resist the desire to grab the next session’s funds. You can wait for luck to find you. She’s never where you look, especially after she’s been so elusive.
Time is your enemy. Remember, the longer you gamble, the more exposure you give to the casino’s inescapable mathematical advantage.