One of the most important parts of gambling is learning how to keep track of your money properly. When you understand how to manipulate your bankroll the right way you dramatically improve your ability to generate money. Since gambling relies on luck in order to win you have to use your money in a way that maximizes that luck.
The first step to keeping your bankroll in order is to subdivide it. No matter how large or small your total cash store is you need to break it down so you are never at risk of losing all of your money. You should cut your money into five sections and never spend more than one fifth of your money at any one time. Right now divide your total cash store by five and mark down how much money you have to work with on your next game.
After you know how much you can possibly lose during one play session you should also designate a stop period that will help you avoid losing your maximum amount of money, after all if you lose all of your money you won’t have anything to make money with later on. Make a decision to at least take a break from a game if you have a certain number of lost bets in a row. Losing too much money too quickly can be very hard on most people and they will tend to make more mistakes. By taking a break from the game you will help keep yourself from getting emotionally involved and making the common errors that many poker players don’t even realize they are making.
The same should be said for winning. While it makes sense to try and keep earning money when you are on a lucky streak, enough is enough. Decide when you are going to get out of a game and stick with it no matter what. If you say that you are going to leave when you double the amount that you started with then that is exactly what you need to do. After you have been on a winning streak for a long time you will probably start to get greedy and over confident. It is easy to feel like you can’t lose if you have been winning a lot. After you start to feel confident you will start to play more boldly and eventually you will lose all of that earned money.
By being smart, splitting up your bankroll into several smaller groups, and sticking to your plan you can keep yourself on a constant winning streak. Gambling is designed so that the casino has the edge. The only way to conquer the disadvantage that you suffer as a player is to stay disciplined and follow the strategy that you decide on for yourself. Skill is an important part of any game, but will power and an ability to stay calm are what separate the skilled losers from those who can actually make a living with gambling.
