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Betting Articles

Lazy Sports Betting Tactics
How to beat the bookies in the over-under markets
How to convert between decimal and American odds
How to get an edge in betting
How to test the credibility of a tipster`s record
Kelly criterion method
How to use Kelly Criterion for betting
How Weather Affects Sports Betting
Increase Your Chances of Winning Long Term Betting on Sports
Intermediate and Advanced Sports Betting
Common sportsbetting myths
Advices on Betting Fundamentals
Betting do's and don'ts
Choosing a staking method based on your betting profile
Betting staking plans
Value betting explained
Sports-betting- a game of numbers
Market movement in betting
Types of odds explained
European types of bets explained
American types of bets explained
Martingale Considerations in Sports Betting
In-play betting
Accumulator betting
Mobile betting
A Crash Course in Horse Racing
A Crash Course In Sports Betting
American odds versus decimal odds
Bankroll management
Money management in sportsbetting- odds, edge and variance
Basic bet types explained
Paying for Picks
Betting on winning streaks
Betting psychology- a crash course about aspiring professional bettors
Popular Sports Betting Beliefs
Do you make these 9 sportsbetting mistakes?
Does intuition have a place in sportsbetting?
Exchange betting
Randomness in sportsbetting
Fractional versus decimal odds
Home team advantage analised
How bad at sportsbetting are you?
Reasons to Keep Betting Records
How bookmakers make money
How bookmakers work
How do betting exchanges work
Should You Bet on Multiple Sports or Specialize?
How do free bets work
How does luck influence short term betting
How good are betting tipsters
Sports Betting for Beginners
How loss aversion impacts performance
How many sports to bet on
How Much Should You Bet On a Sporting Event?
Staking-one method to improve your betting
How much you should risk per bet?
How Sports Betting Has Changed Over the Last 20 Years
How To Avoid A Big Sports Betting Loss
The art of multiple betting
The history of lotteries
The value of information in soccer betting
Three careers ideally suited to betting
Tips for Better Sports Betting Results
Types of Online Sports Betting Bonuses
Understanding and managing your risk of ruin
Understanding Horse Racing Bet Types
Understanding Live Betting
Value betting is an essential skill for bettors
Ways to Increase the Percentage of Sports Bets You Win
What are drawdowns and how to manage them
What are the most common mistakes the bettors make
What are the real chances of winning the lottery?
What distinguishes winning from losing betors
What is a handicap soccer betting?
What is the Fibonacci betting system?
What is the Labouchere betting system
What is the Martingale staking system
Why do we gamble? Irrationality and overconfidence
Why patience is an essential trait for any serious bettor
Poisson Distribution: Predict the score in soccer betting
Fixed Staking vs. Variable Staking
Basketball betting: Bet types explained
7 Sure-Fire Baseball Betting Strategies
How Does In-Play Betting Work?
To Parlay, or Not to Parlay?
Wisdom of the Crowds applied to betting
CASINO ARTICLES
A Novice’s Tutorial on Casino Gambling Games
How to Gamble with Dice – Popular Dice Games and Their Variations
How Online Casinos Helped Me Love Roulette Even More
My Top Three Tips for Getting Comps in Casinos
5 blackjack stereotypes
5 Gambling Tricks You Can Only Use Online
5 LITTLE-KNOWN FACTS THAT AFFECT YOUR AVERAGE HOURLY LOSS IN A CASINO
5 REASONS CASINO GAMES ARE SO ENTERTAINING
5 Things All Casino Gambling Fans Are Sick of Hearing
5 Tips to Managing Your Casino Bankroll Effectively
The Five Most Important Tips I Ever Learned on Bankroll Management
5 Rookie Mistakes in Blackjack and How to Avoid Them
7 roulette variations probably you have never heard of
7 THINGS YOU NEVER KNEW ABOUT CASINOS
7 Ways Casino Players Sabotage Their Chances of Success
How to Tell If You’re About to Make a Mistake with Your Next Casino Bet
The 12 Types of People I Meet in Casinos – Analyzing My Fellow Gamblers
10 SURE-FIRE CASINO GAMBLING STRATEGIES THAT WORK
What I Love Most About My Three Favorite Video Poker Games
The Last Guide to Video Poker Tournament Strategies You’ll Ever Need
Baccarat and the Martingale System – Can It Work?
Is There a Gambling System That Never Loses?
Combining the Martingale System with Odds Bets in Craps
Which Bets on Which Casino Games Offer the Best Odds of Doubling Your Money?
What’s Next for Online Gambling?
Using Self-Discipline in the Casino
20 ONLINE GAMBLING TIPS
Going All-In – When to Bet It All in Poker
10 Things I Wish I’d Known About Roulette Before I Started
Who’s the Best Video Poker Player in the World
Are No-Deposit Bonuses at Online Casinos a Waste of Your Time or Worth Going For?
Are Online Casino Bonuses Worth Taking?
BEATING BACCARAT – WINNING SYSTEMS & STRATEGIES
CHOOSING THE RIGHT SLOT MACHINE
EUROPEAN VS. AMERICAN ROULETTE
EVEN MONEY CASINO BETS
Feel Confident When Gambling Online – 8 Tips to Help You Choose a Secure Site
Finding the Best Slots Online
Gambling and Poker Playing: 10 Things to Know
GAMBLING GAMES THAT ARE REALLY WORTH TRYING
HOW TO AVOID GOING BROKE AT THE ROULETTE WHEEL
HOW TO GET YOUR FIRST ONLINE CASINO SIGNUP BONUS
How to make a million playing video poker
How to Spend Your Gambling Winnings
HOW TO SURVIVE A BLIZZARD AT THE CRAPS TABLE
HOW TO WIN AT ROULETTE
How to Win Consistently at Casino Gambling
How to Win Consistently at Craps
How to Win Consistently at Roulette
HOW VOLATILITY WORKS IN CASINO GAMBLING
Is It Possible to Play Roulette as a Career (Or Even as a Part Time Gig)?
Is One Blackjack Game Better Than Another?
MONEY MANAGEMENT STRATEGY FOR YOUR NEXT CASINO TRIP
ONLINE CASINO DISPUTES
SKILL BASED CASINO GAMES: PROS AND CONS
The 5 secret joys of casino gambling
The Benefits of an Online Gambling Environment
The Best Long-Term Strategies for Playing Progressive Jackpot Slots
THE BIGGEST JACKPOTS IN ONLINE GAMBLING
THE EASIEST WAY TO LEARN BLACKJACK STRATEGY
THE HOUSE EDGE
The only roulette strategy you will ever need
The Surprising Secret to Winning at Casino Gambling
Who Takes Care of Your Safety at Online Casinos?
Why Don’t Craps Players Just Use the Right Strategy?
Why I love American roulette
WHY IS THE DON’T PASS BET BETTER THAN THE PASS BET IN CRAPS?
WHY IS THE DON’T PASS BET BETTER THAN THE PASS BET IN CRAPS?
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MONEY MANAGEMENT STRATEGY FOR YOUR NEXT CASINO TRIP

Money management is a fancy term for planning ahead. How you plan isn’t nearly as important as the fact that you do.

This page covers basic pointers for preparing your finances before you gamble.

Are You Playing a Winning or Losing Game?

The main reason I like to develop a money management plan for my casino trips is so I can make sure I have as much fun as possible.

The main thing you need to make sure you do is to create a system that helps you avoid running out of money before you’re ready to quit playing.

How do you do that?

I use a two-step process.

The first thing you need to consider is what kind of games you’re going to be playing.
Money management for slots is vastly different from managing a sports betting bankroll. Beatable games – poker, blackjack, sports betting, and some video poker games – require a totally different approach from time spent playing keno or baccarat.

Next, consider the variance of the game you’re playing. Variance refers to the volatility of the game – the fluctuations in winning and losing. Your bankroll should be sturdy enough to withstand these natural fluctuations.

This makes money management for your trip pretty easy and straight forward. Just take your bankroll, or take enough to handle anything but the largest down swing, and make sure you have access to the rest.

So How Much Money Should I Bring to Vegas?

The answer depends on a number of unknown variables.

What games are you going to play?

What is their average return?

How skilled are you at that game?

How many hours will you be playing?

How much money are you comfortable losing?

The answer to all these questions will affect the actual size of your bankroll.

In order to show you the process, here’s how I worked out the bankroll and bet size I wanted to use for my last trip to Vegas.

A Case Study in Money Management

I knew I was going to play mostly 9/6 Jacks or Better video poker. I figured I’d play for about six hours a day, and my trip would last four days. Since I follow a strategy card and I’m not really in any hurry, I planned on seeing about 300 hands per hour. Since I play on a quarter machine and I always bet maximum, each spin costs me $1.25. By following optimal strategy to the letter, I expect a return of about 99.5%.

Here’s where the math comes in – $1.25 per hand times 300 hands per hour means I expected to bet about $375 an hour. At six hours per day for four days, I’d be pushing about $9,000 total through the machines.

Don’t make the common mistake many players make and simply multiply the total wagers ($9,000) times the expected return (99.5%) to get the expected losses.

While I expected losses of $45 over the long term, I know that I’ll no doubt lose more than my mathematically-predicted losses.

So what do I do?

I budget for ten times my expected losses. That means I went to Vegas prepared to lose about $500, or a daily loss limit of $125. This way I never run out of money for the trip. I even have some extra cash set aside if I find a new game I want to try.

If you’re playing a game with a larger expected loss, like slots, you should always use daily loss limits. You’ll need a larger bankroll, but the loss limits will help you keep your trip bankroll under control.

How to Reduce Your Expected Loss per Hour

Here are the two easiest ways to reduce your expected loss per hour:

  1. Place fewer bets per hour
  2. Play better

If you play slots or video poker, start taking more time between spins. No one is rushing you, and you’re playing a negative expectation game. The fewer spins you take the less money, on average, you will lose.

You can also play for less money per spin. If I wanted to risk even less in the Jacks or Better example, I could find a nickel machine instead of a quarter machine.

It’s important to play whatever your choice of games is at the highest level of skill possible. There isn’t much strategy involved with slot machines, but there is proper strategy for almost every other game found in the casino.

Conclusion

Using a money management strategy for your casino trips is a tool to help you have as much fun as possible. By understanding how much you are expected to lose on average and making sure you have enough to handle the ups and downs you have the best chance to have a good time.