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Best of John Marchel

Gaming Guru

 

Money Management

10 September 2011

We frequently hear how important it is to manage our bankrolls when we go to a casino. Just what are some of the things we should do? Here are 10 simple rules you should consider following to help you manage your bankroll while playing:

  1. Budget your gambling funds for the entire trip, for each day and for each session.
  2. Gamble only with money you can afford to lose.
  3. Decide how much you want to spend during your gambling session. Don't exceed your limit if you lose.
  4. Set a winning goal. It could be 50% of your buy in, or double your buy in. But set a goal.
  5. When on a winning streak, increase your bets; when you're losing, decrease your bets.
  6. Don't play when you're tired or when you've had too much to drink.
  7. Play at levels you can afford. Your bankroll should be sufficient to cover 20 bets.
  8. Keep gambling expectations reasonable. Don't expect to make $1,000 if you start with a $50.
  9. As you are playing, consistently review five consecutive plays, than decide to continue or leave.
  10. Have fun, and try to quit while you're ahead. It's always good to finish a winner, no matter the monitory value.

Bet You Didn't Know

  • Massachusetts decriminalized bingo in 1931 in an attempt to help churches and charitable organizations raise money.
  • Every day more money is printed for the game of Monopoly than the U.S. treasury.
  • At a young age Andrew Jackson inherited 300 English pounds, a substantial amount of money for a teenager in 1782. He lost it all gambling on horse races and cockfights.
  • The IRS has estimated that a cocktail waitress in a large sports book makes 25 cents toke on each drink she serves. They tax her accordingly, whether she actually makes the money or not. Pit cocktail waitresses make more and are therefore taxed more.
  • Johnny Moss was awarded a silver cup for winning the first WSOP main event in 1970 rather than a bracelet, which wasn't the standard prize, along with money, until the 1976 World Series.
  • Richard I, king of England, (Richard the Lionhearted) had severe problems with the passion for gambling by his troops during the Crusades. He therefore decreed that no one below the rank of knight was allowed to gamble for money.
  • For years the Western Union office in Las Vegas was the largest money-order payout office in all of Western Union.
Recent Articles
Best of John Marchel
John Marchel
John Marchel is an author, speaker, teacher and player -- what John plays are casino games. He’s been a casino player for over 25 years and has played successfully in Europe, Panama, the Caribbean, Canada, Atlantic City, Las Vegas, on Indian reservations, cruise ships and in over 350 casinos throughout the US. He is also the author of six books about gambling, and has written numerous magazine articles and is currently a columnist for three gambling magazines and one internet magazine.

Since 1988 John has combined his experience as a manager, teacher and player to present seminars and lectures about gambling. In addition, John has had an Internet website since 1995 that offers books, special reports and tips about gambling. He also publishes a monthly Internet gambling newsletter. The newsletter keeps subscribers alert to trends, information and winning techniques that allows them to be more successful when visiting casinos.

John Marchel Websites:

johnmarchelgambling.com

Books by John Marchel:

101 Casino Gambling Tips: Affordable Strategies & Techniques for Maximizing Profits & Reducing Loses

> More Books By John Marchel

John Marchel
John Marchel is an author, speaker, teacher and player -- what John plays are casino games. He’s been a casino player for over 25 years and has played successfully in Europe, Panama, the Caribbean, Canada, Atlantic City, Las Vegas, on Indian reservations, cruise ships and in over 350 casinos throughout the US. He is also the author of six books about gambling, and has written numerous magazine articles and is currently a columnist for three gambling magazines and one internet magazine.

Since 1988 John has combined his experience as a manager, teacher and player to present seminars and lectures about gambling. In addition, John has had an Internet website since 1995 that offers books, special reports and tips about gambling. He also publishes a monthly Internet gambling newsletter. The newsletter keeps subscribers alert to trends, information and winning techniques that allows them to be more successful when visiting casinos.

John Marchel Websites:

johnmarchelgambling.com

Books by John Marchel:

101 Casino Gambling Tips: Affordable Strategies & Techniques for Maximizing Profits & Reducing Loses

> More Books By John Marchel