Even if you are a casual gamer, it pays to know something about gambling management. Why? Because you will never know when you decide to take the games more seriously, and when you do, you should have a basic understanding of the process already.
One of the reasons why bankroll management is not as prevalent as it should be is because of a lot of misunderstanding. In particular, some people think that because luck is involved, there is no point in managing your finances. This is absolutely wrong; it is precisely because luck plays a role that you should practice money management.
If you carry out good gambling bankroll management, you will be able to weather any volatility. Assume that you are betting on a coin toss. If its heads, you get $30, and if its tails, you lose $10. Now that sounds pretty good, but what if the amount were changed to $30,000 and $10,000? This is just an example of why you need to watch over your cash; the stakes can go up quickly.
Another reason why you need to have a gambling bankroll management system in place is because the casino has one too. Some people don’t think this is the case, but it’s true: for example, all these establishments have table limits, unique denominations for slots and the house edge, because they need to sustain their operations.
If that isn’t enough to convince you of the need to use gambling bankroll management, here’s another: even the pros do it. Everyone, from the legends of the game to the present crop of superstars in Poker, all perform money management. Because they earn a living from this profession, they need to look over the money as anyone engage in other lines of work do.
Now there are numerous types of bankroll systems available, probably as many as the betting systems in Roulette, but the important thing to do is to stick to just one, specifically one which you find comfortable and easy to understand. It doesn’t have to be anything complicated. There’s no need to hire an accountant; computer software is available that makes tracking down your expenses easy.
Of course gambling money management isn’t just about the numbers but also requires a great deal of common sense; don’t spend more than what you can afford, don’t play when you’re drunk or emotionally upset, etc.
Even if you are not interested in gambling for a living, and are just the type who plays in a casino on vacation, knowing how much you should bet, and when, can make your casual visits to the casino more enjoyable.