ONLINE GAMBLING AND CASINO GUIDE

Money Management in Online Gambling

All serious gamblers have some method for handling the natural swings in their bankroll. Sometimes you win, sometimes you lose, there’s nothing you can do about that; but by setting limits for your losses and wins during a gambling session you can insure yourself against some common pitfalls in online gambling.

We all know the feeling: What started out nicely, with a long and even battle around the zero mark, or even with some initial winnings, eventually has turned into a considerable loss. We know that we ought to get up from the table, we ought to stop playing right now. But then again, we don’t want to accept losses, and there’s only one way of getting the lost money back: By continued gambling.

This is a really tough spot to be in, and if you haven’t set up very strict rules for yourself before the session, it can be just about impossible to get out. There’s a good reason why chasing losses is the classical way to go broke.

In the other end of the scale, maybe you also recognize the sinking feeling when you had a considerable plus at the table, and now it is gone. You could have gotten up from the table and cashed in the winnings. You could have made a substantial withdrawal and allowed your better half a romantic dinner. Or paid off some old bills. But you wanted to win just a little more first, and now you’re back to zero.

Both these situations must be avoided if you want to live in harmony with your online gambling. As Arizona Cactus points out, “never go with the flow”. Before you sit down and gamble, define precise upper and lower bounds to the allowed changes in your bankroll. Tell yourself to stop gambling once you make a certain loss or profit. And – discipline yourself to comply with your intentions.

What line do you yourself take to these issues? Please tell us in a comment! We want you to gamble – and win.

/Your Gambling-Win Team

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This entry was posted on Tuesday, November 7th, 2006 at 2:47 am and is filed under Casino, Gambling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.