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 stategy, 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 gurarantee 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 slot 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 slot 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 applicaple 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 slot clubs to find out how to increase this return to over 100%.