Slots Money Management
The
key to successful gambling (defined as coming
out ahead, even if slightly) is a rock solid
money management plan. If you put into practice
the key points of money management and advanced
slots strategy, you will come out ahead
of the game, in the long run.
"Gambling
money" is much more than money used
strictly for gambling. It is money that
the player has segregated from his other
accounts. It is money that is left over
after all the bills are paid and everyone
in the household is fed, clothed, and educated.
It is money that, if it is lost, will not
affect the lifestyle of the player. It is
money that you, the player, can afford to
lose.
Make
no mistake, gambling with "scared money"
or "rent money" is a recipe for
disaster. Winning is important to all of
us but if you are gambling with money that
is needed elsewhere, and you lose, it can
be devastating. The number one rule of money
management is: only play with money you
can afford to lose.
Players
commonly refer to their gambling money as
their "bankroll". Your goal is
to protect this bankroll, nurture it, and
watch it grow. Your "Session Money"
represents a portion of your bankroll. It
is the amount of money you are willing to
risk for each gambling session. Suppose
you plan a two day gambling trip, with three
sessions a day. You would set $100 aside
for each session. You need a bankroll of
$600.
If
you are determined and persistent, there
is a money management scheme that will virtually
guarantee that you will be a winner. If
you are disciplined, and follow the instructions,
you will come out ahead.
First
of all, you must follow the basic slots strategy
religiously. You must play the two coin
machines and only frequent casinos with
the highest payback percentage. You must
join the player's club and always use your
card when playing. You must play max coins
for max return.
The
basic principal for money management is
to split your bankroll into money for each
gambling session. Let's say you are going
to spend the day at the casino. You are
a quarter slots player and you want to experience
three two hour gambling sessions. The average
player should restrict themselves to 300
slots pulls an hour. Don't worry that's one
pull every 12 seconds, still plenty of action,
but designed to stretch out your bankroll.
Your plan is to find a two coin machine
and play max coins. That works out to:
300 pulls an hour x fifty cents a pull x
2 hours per session
=$300
required per session
For three sessions you need a bankroll of
$900.
Just
plug in whatever numbers are applicable
to your level of play to decide how large
your bankroll should be. Assume you are
a half dollar player, playing max coins
on two coin machines, with three 90 minute
sessions per day on a two day trip. Your
bankroll would be:
300 pulls an hour x $1.00 a pull x 1 1/2
hours per session
=$450 required per session
Three
sessions per day on a two day trip require
a bankroll of $2700.
Advanced
money management now allows you to finance
your bankroll, and your gambling by working
these estimates backwards. Take the first
example. You are a quarter player and you
want to make four one day trips a year.
You know you need to generate $900 per trip,
one trip every three months. That works
out to $300 a month that must be segregated
into your gambling account to finance your
bankroll.
The
beauty of this plan is that, over time,
if you follow the principals laid out here,
the slots will return 90% to 95% of your
initial outlay. A $900 trip bankroll will
theoretically (and realistically over time)
return between $800 and $850. Read the next
section on slots clubs to find out how to
increase this return to over 100%.
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