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Play Euro Millions Effectively

Money Management and Betting Strategy Pt 1

No matter what your game, most experts agree that money management is one of the major aspects of any overall game plan. Unfortunately, many players do not realize what good money management is or, for that matter, is not. It isn't something that you decide on at the table, nor is it something a player does to recoup his losses by increasing the size of his wagers. Money management begins at home, long before you get to the casino. It is the first strategy you should employ, even before deciding which game to play.

Sound money management can be tailored specifically for each game, or it can be, generalized enough to cover a variety of situations. It can be as complex as Max Tarkin's multi-level method, which he said took 12 years to develop, or as simple as a routine progressive strategy or betting sequence. But one thing is certain: no player can be consistently successful without it.

It is essential to begin with a bankroll. You can't play without money, so start by determining how much you can afford to establish as your gambling bankroll.

It's important to remember the word "afford." If you play with scared money (money that is needed for something else), you probably won't be able to devote the proper concentration and strategic playing that is necessary to be a winner. You simply cannot worry about the money you are betting, and be successful. Once you have established a bankroll, you are set to take it to the casino and try to double it, right? Wrong. Whether you're going to the casino, the racetrack or the sports book, you should never bet your entire bankroll. You shouldn't even take it with you.

Suppose you've set up a bankroll of $1000 to start, and you're going to a casino. How much should you take with you? Experts usually suggest anywhere between 25% and 50%. I prefer one-third. In this case, the amount is $333 or, rounded off, $335. This way if you lose it all, the greater portion of the original bankroll is tucked away safely at home. That will become your new bankroll and it will amount to $665. The next time you go to the casino, you'll still take one-third, but it will be one-third of $665 (which is approximately $220).

If, on the other hand, you doubled the stake you took to the casino, take your winnings home and add them to your bankroll. The next time you go to the casino you will be taking a greater amount of money. If you had won an additional $335, your bankroll would be $1335 after the first session. Then when you took one-third of it for your second venture into the casino, you would have a betting stake of close to $450.

This system will force you to bring more money to the casino when you are winning and less when you are losing. This is important because it will give you the opportunity to capitalize while you are on a hot streak. And, of course, it prevents you from throwing your money away when the cards and dice are going against you. When you enter a casino, don't head directly for the nearest table and begin playing. First evaluate how much money you have and what it means in terms of playing hands.

If you walk into a casino with $100, that's just enough to play a $2 table. If the casino only has a $5 table, you need a minimum of $250. That's enough for 50 hands. It may sound foolish to people who want to play at a $5 table with a $100 bankroll, but the minimum you should have to adequately compete against the house is $750. Two-thirds of this ($500) should still be at your home. Since the amount of money you have determines the dollar value of the units you will be able to play, you should divide your betting stake by 50, and set your minimum wager accordingly.

Money Management begins at home Pt 2