Chapters on Money Management discuss amounts in detail. For now, accept the fact that you must have both minimum win and maximum loss figures to signal you when to quit playing. It is essential that you set these goals, but absolutely imperative that you don't forget them. Without win or loss figures in mind, you're inviting disaster. Right here in front of casino, your decisions must be made, before you get caught up in the glitter and noise inside.
It is the lack of discipline that destroys most players in gambling. Discipline is needed to quit when either a win or loss level has been reached. As I have said before, I strongly urge that you be willing to settle for a conservative return on your investment. Since you have a bankroll of $450, your expectant win figure should be $90. That's a 20% return on your money.
I can hear the moans and groans. You probably want to double your money. Well, face reality. Getting a 20% return on your money is quite an accomplishment I am not setting a win ceiling, only a win goal. The goal should be realistic, so it is within reach. Once you reach the goal, I will teach you how to pull back a certain amount, guarantee a win for the day, and then take your shot at bigger winnings. But first, back to basics:
Get to understand how difficult it is to win at casino games, but also appreciate that it is possible to win. Practicing the BIG 4 makes it possible. If you think winning means at least doubling your money every time, you'll stay a loser.
The purpose of gambling is to take a certain amount of money into a casino and walk out with a profit. The more you bring into battle, the bigger the return. But, if you go with a small bankroll, then learn to live with a small return.
Inside the casino, your cash is converted into chips. The chips can deceive you about their worth. Nevertheless, you are playing with real money! Don't forget this fact for a single second, or those pretty colored plastic pieces will lull you into being reckless. Monopoly money it isn’t!! It's the legal tender, the coin of the realm, the pay you earned with your sweat!
I've seen people with $1 chips get bored and start making crazy bets. They see other players with $25 chips, and get jealous. The atmosphere and sparkle of a casino influence may ruin many gamblers. That's why I insist you make decisions as to how much money you will lose, or win, in the sunlight away from the glare and glamour.
You've been to the casinos before, haven't you? Do you ever set limits for yourself and then stick to them? I doubt it!
Discipline will turn your game around. Very few people set reasonable limits. Very few people win money in casinos and wind up taking it home with them. There is a connection.
A $450 bankroll is approximately what 70% of the people take to a casino. I have given you a 20% win figure. This is fair and realistic. Since there are so many people in this bankroll range, there are bound to be differences in opinion.
A small group of people will be content to win anything, and so a percentage win of 10% (or $45) would be plenty for them. There is nothing wrong with setting this low amount, and you should be able to hit it quite often.
You may turn up your nose at a 10% return on $450 because it sounds so small. Well, do a little arithmetic. Assume this $450 bankroll, with many 10% wins, will soon grow, within four or five months, into a healthy starting bankroll of $2,000. Continuing to look for a 10% return, you are now picking up a profit of $200 every time you win. All of a sudden, that size, return looks good. Now the 10% is based on a $2,000 bankroll, and since the dollar return is higher, you overlook it being a low percentage profit.
Your total winnings increased because your bankroll increased. The percentage stayed the same, but now you are happy with the results.
To repeat: You have a small bankroll of $450. This is all you can put together. Yet, you are unwilling to accept a $45 profit. However, when that bankroll increases to $2,000 and the money return is greater-although it is still only 10% you are satisfied. Carefully analyze the situation and you should admit that your attitude doesn't make sense.
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