Casino Money Management
Written May 22, 2008 by Jack Jones
There are a lot of different money management strategies out there for online casinos, but if you are playing without one then you are probably costing yourself money.
Online casinos move faster than their land-based counterparts, with frequently twice as many hands being dealt per hour. When you factor in the house advantage, then it’s easy to see why players drop their bankrolls so quickly.
Here are proven money management strategies anyone can easily follow.
TIME OFF
When you are playing for hours on end each hand can blur into the next, and you won’t remember where exactly your money went. Set yourself a time limit and stick with the plan. Put a clock by your computer and then when the clock hits your stopping point, get off the computer. Don’t try to get yourself back to even or finish off a run, good or bad.
WIN/LOSS LIMITS
It’s a lot easier to see yourself losing cash at a land-based casino, when playing online it’s just numbers on a screen. Don’t be fooled by this as those numbers are the same as cash in your pocket. Know how much you can afford to lose, don’t chase losses and set yourself a win limit. You won’t be playing on the house’s money, once you have won it then it’s your money.
BET WHAT YOU KNOW
There are a lot of different games in a casino, and each one requires a different approach. It’s hard to set limits as to the time you are going to play and win/loss limits if you are not familiar with the game. New games online are only a short click away, it’s not like you even have to get up and walk around. Your money will last different lengths of time depending on the game, $100 in craps can go a lot quicker than at the poker table.
If you want to try a new game, do some research first so you learn perfect basic strategy. If the online casino that you play at has a free place to play, practice there before hitting the tables for real.
