Blackjack money management

Money mananagement for blackjack players is as inportant as becoming a highly skilled blackjack player . To be successful, a player must know the odds for a specific wager, that is the house's advantage over the player and which bets are better options for the player.

All of us can have winning and loosing streaks. Take proper action to maximize your winning chances and minimize your losses. Play long enough without a proper playing strategy and you will loose.

It is a mathematical fact that if you wager enough times the house will always win! How you manage your money and the house advantage ultimately determine your success or failure.

All highly skilled successful gamblers know how to properly manage their money and they have acquired the discipline to execute a proper money management strategy under stress.

A technically skilful blackjack player, will never be a regular serious winner without developing and applying sound money management skills.

If you start with say $1000 total bank roll, subdivide it into a minimum of 4 or 5 lots and never take more than one part out on any one occasion that is $200 or $250 depending on how you have divided it up. If you start with less than a grand the same applies i.e. $500 to start divides down to $100 or $125 per outing. If you are running $5 basic bets, $200 translates to 40 consecutive loosing basic bets.

Online casino new player cash bonuses extend your funds and should be an integral part of your blackjack money management strategy.

If I have had six or seven consecutive loosing bets, I leave.

When this happens to you, take time out. If you haven't reached your stop loss limit, maybe try another casino. If it is more of the same, give it a miss for the rest of the day at least and review your play and your strategy.

Some of the dumbest mistakes are made when one is winning . After awhile you realize that you are well ahead (at least double your starting stake) and you start getting greedy, start accepting those free drinks, throw caution and your playing strategy to the wind, start doubling up on your bets, start acting euphoric and all of a sudden you have a few loosing bets in a row. You double your already doubled bets and loose a few more times. Out of desperation, you start betting erratically and it isn't long before your winnings and your original stake has evaporated.

The most deadly sin is to go and take some more money from your stake and try to recover your losses forthwith. Invariably this lot will join the previous!

When this happens, particularly after a few drinks, few people are emotionally equipped to overcome the psychological disadvantage to bounce back immediately. Step back, take stock of what has happened. Analyze your plays and your plan. Learn your lesson well. Never repeat this mistake!

Most of us at some stage have been there and done that - No future in it!

There is a lot of psychology involved in blackjack gambling. It revolves around your mental state, personal discipline, planning ability and the courage to stick to your plan under pressure.

Greed, letting yourself be sucked in by the excitement of the game (especially easy when you are winning) is the sucker's road to despair. Casinos depend on this. It is their way of defeating a technically skilful player who lacks the discipline and mental toughness to be a regular winner.

It amazes me to hear gamblers on a winning streak say, "I'm playing with the casino's money". That is a load of bovine excrement! You won it from the casino. IT IS YOUR MONEY and only a half-wit is going to willingly give the casino his or her money! Believe me, the casino does not regard the money they win off you as your money. They see it as their money and rightly so!

Regular winning requires the right combination of hard-nosed mental discipline and physical skill. You must know when to walk away and have the courage to do it every time! If you are having a winning streak and decide to increase your bets do so gradually but only in line with your original strategy and only when the circumstances truly warrant it.

The golden rule of money management is to separate your funds into two basic groups or accounts - one to cover your must pay bills and living expenses and one for your expendable income. You take your gambling bank from your expendable income.

Never gamble with money that you must apply to essentials and never gamble more than you can afford to loose at that time.

We all have loosing streaks.. Simply put, if gambling stresses you, then you are unlikely to have the mental discipline to stick to a predetermined money management strategy especially when you start having a loosing streak.

A skilful player with a tough mental discipline will bide his or her time, exercise patience and keep the game under control to maximize wins and minimize losses and most importantly of all, know when to quit a session.

There are many semi professional gamblers who make a good supplemental income by following these simple rules.

If you are playing out of your depth (maybe because you are under capitalized or stressed by the prospect of loosing) quit immediately.

If you feel a compulsion to gamble, it is time to seek help to quit gambling. If you loose or cannot develop the ability to stand back and dispassionately assess the play of the game, it is time to quit. This is truly the beginning of the road to despair!

When you are winning, keep taking at least half out, put it in a separate pocket and leave it there until you quit playing. If things suddenly go sour, quit at the latest when you reach your original predetermined loss limit. This way there is a fair chance that you will have ended up a winner despite loosing your initial predetermined loss limit.

These are the secrets of sound money management.