Money Management Factors

Most players do not come to the casinos with an infinite amount of money. Of course, there will always be the big rollers, the big spenders and the like, but most gamblers have to have a certain system to manage their money. Any gambling money management system must contain several factors.

Firstly, the size of your bets is paramount. You must allot a minimum and maximum size for your bets scaled to the stretch the amount of time you desire to play. There are several different systems for deciding the size of your bets. Some are foolish, others less so. One of the most famous money management systems in the gambling world is the Martingale system. This is possibly the worst system that you can use, but many believe in it. What you do in this betting system is to bet one unit of money after every win, but double the amount of money that you are betting after every loss. In this way, the idea is that when a win comes, you will recoup all you money plus one unit. In the event, though, this is about the worst system that you can you use.

Another factor in money management is to decide on a predetermined amount of money that you can afford to lose, and to go no further. If you decide prior to gambling how much money you can lose then you stand less of a chance of coming out at a large loss that you can't handle. Another factor is the win goal. This is the amount of money that you pocket, and do not use to play with again. This means that whatever you lose in the following games, you will still have reached your monetary goal. Written by McGregor Lightman, Correspondent. 12.12.05

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