Money Management is the use of one’s monetary resources in the most efficient manner possible. Very few Blackjack players realize how important this tool really is. They figure that as long as they play the perfect Basic Strategy and use Card Counting, they will walk away from the casino with money in their pocket. That simply is not so. There are so many ways that you can take a winning day and turn it into a loss really fast.
Money Management involves not only “managing your money” but also managing your discipline, your generosity, your focus, your greed, and your drinking among other things. There are so many different ways to lose money at casinos. Your 2% edge over the casino can amount to nothing if you are not wise with your money.
Here are some basic money management skills to develop when you are playing Blackjack:
Decide before going to the casino what your bankroll is for the night. Don’t get caught spending more than you initially decided upon.
Decide before going to the casino how much money you are content with winning for the night. Be realistic.
Choose a table wisely. If you have a $200 bankroll, don’t choose a $50 Minimum bet table.
Rule of Thumb. Your bankroll should be no less than 20 times the minimum bet.
Stay sharp and alert. If you are tired, there is no way you can concentrate on all of the things you will need to do such as Card Counting. Leave the casino and come back another day.
Don’t get emotional. If things aren’t going according to plan, stay calm. Don’t stray from your strategy.
Avoid quick comebacks. If you are on a losing streak, just accept it. Don’t risk your whole bankroll trying to get it all back in a few minutes.
Don’t get drunk. Alcohol is usually free. Don’t get carried away. If you are drunk, you cannot possibly be doing all of the things you need to do to win at Blackjack.
Be realistic when tipping the dealer. Excessive tipping can put a real dent in your profit margin. Know when to leave.
Well, that’s it, folks. I hope this mini-course is extremely useful to you in learning how to beat the game of Blackjack. If you want to learn more and develop a more formalized and mechanical system with complete integration of all of the tools of the Blackjack player, I strongly urge you to purchase the full version of Blackjack:
The full version includes:
- Introduction to Blackjack
- Rules of Blackjack
- Basic Strategy
- Printable Basic Strategy Charts
- Blackjack Player’s Journal
- A complete Card Counting System
- A complete Progressive Betting System
- Money Management Strategy
Best of all, the above tools are all completely integrated into a complete strategy that is easy to learn and use. I personally feel it is the easiest, most cost-efficient way to incorporate all of the tools of the Blackjack player into one comprehensive system available today. The price of the whole package is less than most players’ minimum bet when they go to the casino.