Casino Money Management
The United States has been the Casino Money Managementmost Casino Money Managementvolatile of all the countries in the world when it comes to real money online gambling regulations.
It is just as important to manage your money properly at the blackjack table as it is to make the correct play on every hand. In fact, all of the strategic skill and understanding of the game you can muster. Money Management. A large part of being a successful gambler includes thoroughly understanding what you’re up against every time you play. It doesn’t matter if you’re a casino gambler, a sportsbettor.
There is nothing better for a slot player than a sound money management system that the player adheres to. Now don’t get me wrong, I’m not saying a good money management system will make you a winner playing slots. What I am saying is managing your money while playing slots allows you to play slots enjoyably without the feelings of guilt and remorse.
I’ve briefly mentioned some bankroll tips in my slot strategies that actually work article. However, we need to examine money management a bit closer because it is so important for slot machine players.
We all know that when we play slots we are at a disadvantage over the casino and there is nothing we can do to change that. There is no “secret system” that a player can use to move the odds in their favor. However, the biggest thing you can do as a slot player is try to maximize your wins and minimize your losses and that’s where a money management system comes into play.
Money Management System
Money management while gambling is all about maintaining emotional control. Do not allow the excitement of playing overwhelm your decision making process. When you start making decisions based on emotions bad things usually happen. The goal is to have a good time while remaining in full control of your actions at all times.
First, let’s get the obvious out of the way before we move forward. I feel compelled to say this because I know it can be a real problem for some. NEVER use money to gamble that you cannot afford to lose. If your money management system is to get as much money as possible and don’t stop until it is all gone, you are setting yourself up for failure. If this is your system it’s like you’re riding in a car without a seatbelt. You may get away with it for a while, but when you crash there will be nothing there to save you.
Gambling Bankroll
Your money management system will ALWAYS be based on the assumption that you will lose all of your money. Does that mean you will never win? Of course not, but by assuming you are going to lose enables you to figure out exactly how much money you should gamble. Again, if you can’t afford to lose it don’t make it part of your bankroll.
Whether you gamble online or travel to land-based casinos the system is basically the same. The total amount that you feel you can afford to lose or are okay with losing is your overall gambling bankroll. It doesn’t matter if you’re going to Las Vegas for three days or sitting at home playing at your favorite online casino; you need to set your gambling bankroll.
Session Bankroll
Once you determine exactly how much you can afford to lose, then you can start to figure out your session bankroll. A session bankroll is a portion of your overall bankroll that you will use for a set period of time. Using the Vegas three day vacation as an example, your overall bankroll will be broken down into gambling sessions. Make sure you divide it so you have gambling money the entire time you are there. If you don’t, you are setting yourself up for a situation where you will be tempted to take out more gambling money.
Win/Lose Limits
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Your session bankroll is your loss limit for each session. If you lose the money you are done until your next session. What about when you win? The best rule is the double principle. Whenever you double your money you take the winnings and put it aside not to be used. That money is going home with you. You are not going to put it back into the machine. You can continue gambling on your original session bankroll and if you double the money again, you use the same process.
I can’t tell you how important a sound money management system is for slot players. It is often the difference between having a good time and leaving feeling miserable. Maybe this system doesn’t work for you, but please find something that does.
if i start at the 1000, when would it be wise to stop? 1300? and should I pull down all the odds to get to 1300 if that's possible.
I plan to use the suggested strategy on a real table. How much money should I have to play this way for an hour? I assume that 1000 might not be enough. should I quit when it drops to 500?.
Play as much as you want with small amounts, and don't even worry about doing any odds at all. Just bet the passline, the come, the don't passline, and the don't come bets. You can bet on odds and lay odds too, but if you just want to have fun PLAYING the game, a minimum line or don't pass line is all that you HAVE to do, and enjoy throwing the dice and ordering drinks and having fun and all that crap.
When you're done PLAYING and HAVING FUN, reduce your total cost of playing by MINIMIZING your high dollar bets. You've just saved a ton of money PLAYING the game, now GO FOR IT!!!
If you want to triple your money, take the entire rest of your money and bet on the four or the ten.
If you want to double your money, bet half on the four and half on the ten. Or bet it all on the passline, don't passline, the come or the don't come. When you bet it all, no matter where you bet it, figure out how much you win on the first hit and decide ahead of time to yell 'EVERYTHING DOWN' and then WALK.
Winning and playing are two different things. For a given bet level, the chance of winning dimishes with each bet that you take. So make bigger bets less often, and do it when you're done playing around and you just want to win or lose and get the heck out of there.
Just one way to do it!
A lot of people talk about 'free' bets like it makes them more likely to win. It doesn't. It just doesn't cost anything to gamble those bets once they have been offered to you.
If you really want that better edge for one bet (as if it matters for a single bet event), then make your last bet a line or come bet, and do 1/3rd to 1/10th of your total bet (depending on max odds) and put the rest on odds after that. The problem with that is that you're letting the casino decide how likely you're going to win that 'free' bet.
I like knowing what my chances of winning are. And if I bet $500 on the 4, I think I can handle paying $25 commission to go ahead and decide that instead of making a $50 come bet that travels to the 4 .. which by the way, has already lost $16.66 edge at that point anyway (compared to $25 commission).
The only way to get a so-called 'free' bet on the do side is to lose a portion of the line or come bet first. It's 33% on the 4/10, 20% of the 5/9, and 9.09% on the 6/8. So the house already has part of your money that is still showing on the felt giving you a sort of hope of having more money on the felt than you really have. IE: you have less than a 50/50 chance to win that money, but they only pay you even money! That's the edge I'm talking about. Most people don't decide in their mind that they lost 33%, 20%, or 9.09% when that chip moves or when the point is established, but you can count that money as gone.
That's the 'cost' of the free bet. You have to lose in order to take the bet.
I know this will probably start a huge war of people arguing, and I apologize.
If you want the best bet, take someone ELSE's odds bet (like a friend). That's a truly free bet!!!
Free bets are free in the same sense that a free buffet is free. Something to think about.
I play craps on the wizard site..
Too Bad.Get WinCraps. It is free to have and play. For Windows only.
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It also IMO has the best HELP section on Craps known to mankind.The Wizard's Craps game is a very poor one and does not show what the game really is like in a real casino.
It offers a few wrong payoffs and defaults that can not be changed and are NOT Nevada defaults.
Use WinCraps if you are serious on learning and wanting to play Craps.
Gambling Money Management Systems
5 on pass line and 3x.4x.5x odds with come bets and odds on as many numbers as possible.
if i start at the 1000, when would it be wise to stop? 1300?
Every one plays Craps for very different reasons except they ALL want to win every session they play.
Why stop at $1300?
You only have about a 31% chance (31 out of 100) of hitting a $300 profit or more.I used 100 rolls for an hour length of play.
Also are you prepared to be in the 4.61% group (about 1 in 22 playing sessions on average)
that NEVER see a profit from your method of play??
meaning, you lose right from the start and NEVER (in 100 rolls) show a profit??
It is called being a loser, how big of one, that is left up to variance and how scared one plays.
and should I pull down all the odds to get to 1300 if that's possible.
I plan to use the suggested strategy on a real table.
How much money should I have to play this way for an hour?
I assume that 1000 might not be enough. should I quit when it drops to 500?.
The larger the bankroll the lower the risk of busting but that may not be too much fun.
Most play Craps to have FUN and most also want to win after having fun.
Sorry, less chances of that happening.
I have seem many QUIT playing the right way when a losing streak hits, to leave the table bitching and moaning,
only to see variance swing the other way and cause the rest of the right way players to win and kick some ass.
Practice more in WinCraps and you will see and get more answers for yourself.
Of course, WinCraps does not roll real dice, but you can, and enter them into the program.
Good Luck to you