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    Online Casinos: Money Management

    By Sonny White | February 12, 2010

    Money management is the only way a gambler can control their fate. We all know that fate plays the biggest role in gaming, and that our fate most often depends on luck. I love to gamble and I’ve taken the time to learn where the best odds can be found in the house, but even with all the knowledge that experience can give you, managing your money is the only true way to stay in the game and ensure that your hobby doesn’t adversely affect other parts of your life.

    Managing your money is just common sense and discipline. You figure out how much you have to play with, and divide it over the number of sessions that you want to play. If you budget $300 a week and you play online six times a week, you should only play $50 a session. Separate your money into your sessions, whatever they work out to be, and stick to the rules that you’ve set out for yourself.

    Once you have the amount you can play with each session, you need to find out the house edge for the game that you will be playing. Each game bleeds a bankroll at a different rate. Once you know the house edge for that game, you can divide your buy-in by the amount of hours you wish to play for. Compare that hourly amount to the house edge for that game and you will know at which limits you can safely play. Common house edges for most games can be easily found online if you search for them.

    Scheduling and discipline are the keys to healthy gambling because they open your eyes to the reality of your play. How and when you lose can be easily tracked when things are organized, which will help you eliminate behaviors which show high losing trends.

    The longer you stay in the game, the better the chances of hitting the big one. You won’t win anything if you just dump all of your playing cash in an hour or two of play. Plan it all out and then hope for the best. Your fun and your chances will at least last a lot longer this way.

    Topics: Online Casino |