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Set a
goal of winning between 50 to 100% of a single-session bankroll.
Then set aside your original bankroll plus half your winnings. Now
play with the remainder and continue to set aside additional
winnings.
Use a winning progressive method of betting by setting a
predetermined percentage increase for each winning bet and sticking
to it. For example, I increase my winning bets by 50% after the
second win: $5, $5, $7, $10, $15, $22, etc. I continuously flat bet
(table minimum) when losing.
The casino's goal is to create a fantasyland experience for its
patrons. One wily way is to devalue your money by having you bet
chips instead of legal tender. Think of the deceptive nicknames
chips have. A $5 chip is a "nickel" and a $25 chip a "quarter." Your
best self-defense is to continue to bet with your own greenback.
This way you'll always realize its genuine value.
If you do turn your bankroll into chips, take a moment and carefully
think about the exchange. You must always treat chips as hard-earned
cash-like the money you save for your child's college tuition,
mortgage payments or your retirement.
Discipline is not
only a significant part of being a successful gambler but probably
the most important element of money management. You must set loss
limits and win goals. Example: When losing half your session
bankroll (loss limits) you walk, and when doubling your money (win
goals), consider doing the same.
Identify the profitable opportunities in gambling by shopping for
the best odds, rules and playing conditions for the casino games you
will be playing. Don't waste your time on games in which the casino
has more than a 2% house advantage.
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