Ever hear the term Money Management? You bet your sweet life you have!
Ever practice Money Management? You bet your sweet life you haven’t!
Money Management is the third of the four indispensable steps toward the ultimate goal: Consistent winning.
Money Management! Everybody I speak to about gambling asks about it. They are aware of its importance in gambling, yet never acquire a proper method of managing their money.
Money Management is the spoon that stirs the soup – that makes the meal complete. It ties together all of the loose ends of gambling, mixes them to a fine point and produces the end result.
I have already explained the part played by your Bankroll. You must have it just to walk into the casino. That is the first step.
Next, I gave you Knowledge of the Game. What moves do you make at the Blackjack table to increase your chances of winning? I taught you the best percentage move on every possible hand that can be dealt. Without this knowledge, you are wasting your time, because even with a heavy starting bankroll, the Vigorish will eat away at our money with each high percentage mistake!
A bankroll allows you to play. The knowledge allows you to play smart. What does money management do for you?
That’s easy. It provides you with the correct plan for handling your bankroll. It is like a computer program – every move you make concerning money is predetermined.