BE REASONABLE WITH YOUR LOSSES

admin — Tue, 17 Jun 2008 12:23:03 +0000

Most people’s idea of stop losses is to merely play until they’re out of money. But you need to be smarter. This is going to be painful for many to hear, but you need to quit when you lose half of your bankroll. Yes, you heard that right. Not when you lose all of your bankroll, not when you’ve maxed out your credit cards, and not when you hit the daily limit at the ATM. You need to leave when you’ve lost half the money you brought to play with for that session.

Why? Very simple: The feeling of having lost everything is pretty tough. If you stumble out of the casino without enough cash to tip the valet, then you’re going to feel miserable for the rest of the week.

Who knows? You might even swear off gambling for good, and we know you don’t want to do that.

On the other hand, if you lose money but still go home with a reasonable amount of cash in your pocket, you’ll have lost the battle but not the war. Find great bonuses in the best online casino.

BE REASONABLE WITH YOUR WIN GOALS

admin — Tue, 17 Jun 2008 12:21:11 +0000

Too many times I see people march into the casino with dollar signs in their eyes, hoping to make the ultimate score so they can retire and see the world. But you need to be realistic. You aren’t going to break the bank.

Some ultraconservatives say that getting a 20 percent return on your gambling dollar is ideal. While that may be wonderful in the stock market, I figure you came here to gamble, not to grind out lunch money. Though you should realize that you aren’t going to walk away wealthy, don’t limit yourself to winning spare change, either. If the cards go your way, you want to get at least a 50 percent return on your money.

Say you started with a bankroll of $1,000 at blackjack and decided to play the $10 tables. After following my positive progression method (outlined in chapter 3) for a few hours, lo and behold, you’re up $500. A lot of people wouldn’t be happy with a 50 percent return on their money. They want to triple or quadruple it.

Time and time again I’ve seen people winning but just not being satisfied with however much they had. They go on huge runs and make tons of money, their original bankroll, too. They can’t shake the feeling that “If I did it once, I can do it again.” That, my friends, is how the online casinos stay in business.

Once you hit the 50 percent mark, be prepared to stop at any moment. And I don’t mean stop to go for a smoke break—I mean stop for the day. You’ve already gotten a 50 percent return; how much more do you want?

These should be your goals:

1. Win 50 times your minimum bet (or win 50 percent of your bankroll).
2. If you’ve won 50 times your minimum bet, be prepared to beat a hasty retreat, but never quit when you’re winning. As long as you haven’t lost three in a row, keep playing. Who knows—maybe you’ll catch another streak.
3. If you lose three in a row, get up from the table, but don’t go to another table. Go home, or go back to your room, or go out to dinner. Just end your gambling session now. Enjoy your winnings! Go buy something nice with it or just gloat over your luck.
4. If you go back and forth with the dealer, winning a few hands and losing a few hands, stop when you lose 20 percent of your profits. So if you’ve won $500 in profit, absolutely do not continue to play if you’ve given back $100. This way you’ve allowed time to see if things would turn back around, but you haven’t given back your winnings.