Progressive Money Management Strategies

Gambling experts are full of advice about how to protect your capital or bankroll i.e. the amount of money you brought with you to gamble. Some argue you should play as though your winnings didn't belong to you. The thinking goes : It's the casino's money right? You came in with $500. That $200 you won is a bonus. Other say that's dumb. Once you win money, it is your money. Pretending it isn't could cause you to play recklessly. Some say that when you win big, you should let that bet ride one last time. Others say that's crazy. Knowing when and being able to walk away from the table when you are ahead is one of gambling's golden rules. There's no way to guarantee you will walk away a winner from any casino.

Bankroll management is all about minimizing losses, the following ensures you have fun gambling and then leave if not a winner, at least not a BIG loser.

• Build your bank roll into your travel plans.
  If you have saved up a few thousand dollars to spend on hotels, restaurants, and non-gambling activities, then treat that money like it does not exist when you get to the gambling tables.


• Treat your gambling capital as money expressly to be used for gambling only.
  Don't think to yourself :"I'm going to lose this cash", but don't start expecting to double it and pay for a brand new apartment in Orchard Road. Be able to answer with a firm "NO" the question : will I lose several nights of sleep of I lose this capital.


• Protect your money by taking breaks.
  If you win a particularly big pot, then quit while you are ahead. Walk away a winner. There isn't that nicer? You can hold your head up high. The odds favour the house in every single games, so you will lose if you keep playing. But if you win and take a break, then you can decide - calmly and not in the heat of the moment - whether to continue gambling.


• Wear a watch and keep an eye on the time.
  Casinos do their best to creat sensory-manipulation chambers (IF you can find a clock in the new Singapore IR casinos' tables, I will buy you a drink!) Quit every hour or so and walk around till your head is clear.


• Quit after a certain number of hands or slot pulls.
  This is a good strategy if you don't want to be a slave to time.

A good rule of thumb is to gamble only as long as it makes you happy. If you get on a losing streak and start raising your bets to get your money back, odds are you will just lose more. And then you will feel miserable. It's time to get up and get some fresh air!