Money management

Money management

Profit is not a matter of chance it is a matter of design & choice. Systems and good money management minimize risk and takes some of the gamble out of gambling. System players win much, much more than those who play on hunches.

Most gamblers bet illogically, in an uncontrolled frenzy, randomly covering numbers with no maximum bet, no win walks goals, no loss walks goals and more importantly no mathematical balance. Then they wonder why they lose and blame roulette, the dealer or the casino. They will learn how to play cards, learn how to play craps but never take the time and effort to learn roulette.

Tips to control your money

A key to success is to have control of your money.

This is very important. You must first determine what you are satisfied with as a total dollar win walk. For example $100; if you play $1 chips you need to win 100 chips. If you play $5 chips you only have win 20 chips. If you play $25 chips you only have to win 4 chips. The less chips you have to win the quicker you can you get off the table. In roulette quick is good. Therefore it is important you gain experience and muster the courage to use higher chip values. With a good system and high chip values you will get off the table faster. In roulette faster is better.

Once you get ahead, walk or at least set up a guarantee pile and put some chips aside so you never walk away a loser. Lock up some profits. Whether you are winning or losing, don't be afraid to quit. Ignore remarks from the "peanut gallery", it's not their money! If you are winning big time either walk immediately or keep playing locking up profits until you detect your luck changing, then walk away with profits. Many players are winners at one time or another. However, because of greed they only leave when they are broke. Remember the 90% rule. 90% is better than 0 & do not try to turn a bad day into a good day.

Minimize losses, maximize your return

One of the other keys to good money management is to minimize losses while maximizing your return. Money management takes a high degree of concentration. A smart player accepts small wins. Expecting to double your money only happens in the movies. Bet small and manage your wins and losses while keeping an eye on what's coming out. Get on a table, win and walk with small profits, they add up. Short sessions are the key; don't let the house edge wear you down.

Merely covering numbers with an insufficient return on your investment will eventually cost you your bankroll. The suckers just go to a roulette table, throw money around and just cover their favourite numbers with no rhyme or reason. Sorry, but it's true. I know they win sometimes, but it's probably 1 in 20. The casinos love them for just throwing money away. They may as well burn it! Knowledge and discipline are the only way you have a chance to be a consistent long-term winner. People who just know the rules are their own worst enemy.

Rules without the proper money management and without a good system are still throwing money away. Every single bet must have a mathematical purpose and should be based on the odds and what is going on at the table at that time. Don't misunderstand me, if you go to the casino once a year for fun, then enjoy yourself and play anyway you want. However, we feel the more we win the more fun we are having. So we take it seriously in order to have fun (did we say that?).

The two toughest things to do at roulette are to walk when you are winning and to walk when you are losing. Remember that the object to gambling is winning, not playing. Just being ahead is not enough for most people. Although, all those big losers would be happy, most people want to be big winners. With the proper money management, you will be able to become a big winner. It's not hard to get ahead at the tables, but it's very hard to leave the tables ahead.

Being properly capitalized and courage are important factors in winning as is BOLD betting. Just because you have had a winning streak day after day, don't become so overconfident and attempt to push the tables on a bad day. Bad days come - bad weekends come. Be smart and recognize them and follow the rules. Don't give it back. Once you've won it, it is yours, not theirs. If you can't spot the sucker in your first 5 minutes at the table, then it may be you. One false move and you'll be cooking SQUIRRELS under a bridge somewhere.

Remember "the grace" 50/50 rule". If you have a 50% / 50% chance to win, there is a 90% chance you'll lose.

Richard Grace.

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