目錄
Money management is a fancy term for planning ahead. The fact that you plan is more significant than how you plan.
This page covers basic advice for preparing your finances before you gamble. We’ll talk more about it here at Xgtiger.
Are you playing a Winning or Losing Game?
The main reason I want to develop a money management plan for my online casino quests is to make sure I have as much fun as possible.
The main thing you need to do is create a system that will help you avoid running out of money before you’re ready to stop playing.
How do you do that?
I will use a two step process.
The first thing you need to consider is what kind of games you will be playing. Money management for slots is very different from managing a sports betting bankroll. Losing games – poker, blackjack, sports betting, and some video poker games – require a completely different approach to the time spent playing keno or baccarat.
Next, consider the variant of the game you are playing. Variance refers to the variation of the game – the changes in winning and losing. Your bankroll must be strong enough to withstand these natural fluctuations.
It makes managing money for your trip easy and honest. Just get your bankroll, or get enough to deal with anything but the biggest down swing, and make sure you have access to the rest.
So How Much Money Should I Bring to Vegas?
The answer is that it depends on the changing circumstances.
What games will you play?
What is their average return?
How good are you at that game?
How many hours will you play?
How much money are you comfortable losing?
The answer to all these questions will affect the actual size of your bankroll.
To show you the process, here’s how I created the bankroll and bet size I wanted to use for my last trip to Vegas.
A Case Study in Money Management
I know I’ll be playing about 9/6 Jacks or Better video poker. I figured I’d play about six hours a day, and my trip would last four days. Since I’m following a strategy card and I’m not in a rush, I plan to see about 300 hands per hour. Att because I play on the quarter machine and I always bet the full amount, each spin costs me $1.25. By following the optimal strategy to the letter, I expect a return of around 99.5%.
Here’s where the math comes in – $1.25 per hand, times 300 hands per hour means I can expect to bet about $375 an hour. In six hours per day for four days, I’ll be rolling about $9,000 total in online slot machines.
Don’t make the common mistake many players make and simply multiply the total bet ($9,000) by the expected return (99.5%) to get the expected loss.
Although I expected losses of $45 in the long run, I knew without a doubt that I would lose much more than my mathematical loss prediction.
What should I do?
I budgeted ten times my expected losses. That means I went into Vegas prepared to lose about $500, or a daily loss limit of $125. This way I don’t run out of money for the trip. I still have a few extra bucks set aside in case I find a new game I want to try.
If you are playing a game with a larger expected loss, such as slots, you should always use daily loss limits. You will need a larger bankroll, but loss limits will help you keep your bankroll under control.
How to Reduce Your Expected Hourly Loss
Here are the two easiest ways to reduce your expected hourly losses:
- Place fewer bets per hour
- Play better
If you play slots or video poker, start allowing more time between spins. No one is rushing you, and you are playing the negative expectation game. Less spin, less money, on average, you will lose.
You can also play for less money per spin. If I wanted to take even less risk with Jacks, or a better example, I would find a nickel machine instead of a quarter machine.
It is important to play whatever games you choose at the highest possible skill level. There isn’t much strategy required in slot machines, but there is proper strategy for almost every other game found in an online casino.
Conclusion
Are you an avid gaming fan and want to know how to bet on online casino games? At Xgtiger, you’ll get the latest information on this year’s best casino games and a variety of gaming options, all in one place.
To start your online gambling journey, all you need to do is create an account on the site, deposit funds and you’ll be ready to bet on the best and most anticipated casino games.
Frequently asked questions
Only carry a limited amount of money and avoid carrying bank or credit cards. Arrange with your bank to reduce your daily cash withdrawal limit from ATMs. Cancel bank and credit cards or give them to someone you trust. Consider having two people as signatories on your bank accounts.
