money on the bullseye

Three Ideas to Manage Your Gambling Money

When you play in a casino, you should have been pretty much aware of the fact that you may or may not win the prize. And all the pros in the game know that a gambler needs to manage their money cleverly to get the most benefits of the game. Here, you will learn precisely about that ability.

Think of the Worst, but Also the Best

Many gamblers have a fatal flaw in their mindset, that is not knowing what to do with their money if they win. Consequently, they play more games until the house squeezes them empty.

In your case, you have to be smart. First, you should list your financial duties such as debts, tuitions, installments, utility bills, tax, insurance premium, etc. Prioritize them according to their levels of urgency. And if you get the prize money from a game, use it to fulfill your financial duties first.

Second, you can write down what plans that you need to realize in the near future. For example, you want to renovate your house. You have consulted professional housing blogs such as Hire A Hubby, HGTV, and Houzz, and you know precisely how much the budget is. You must write down that number on your expense list in case you win a game.

Scheduling the Play

Although luck is the core of gambling, you can still spot some patterns in most games. Some pros even consider Poker and Blackjack as more of strategic games than the random ones like roulette and slots. They can predict the competitors’ moves and react accordingly. That kind of gut feeling is the ability that you need to nurture by playing more often. However, you must not overwhelm yourself by owing the house money you cannot afford. If you cross this line, you can ruin your life drastically.

Gambling addiction is a real thing, and you must not undermine it. If you set a schedule, and you are disciplined about it, you will train your mind to control your gambling habit, not the other way around. This behavior will allow you to perceive gambling as a harmless hobby. Besides, you cannot just gamble all the time and use all the sources of income you have.

Applying the Murphy’s Law

Murphy’s law dictates that if anything can go wrong in a system, it will. Once you win, you should know when to stop. Gambling is designed to lure the players to bet more and more. As a consequence, most victories last only briefly.

In some occasions, you should also consider the idea of winning a little than losing a lot. That fantastic prize you have been aiming at is mostly not worth the bets. By realizing this principle, you will understand that there will be only 0.01 chance you can make a big shot. The rest is often equally comparable to the budget you spend to play. In other words, winning in gambles is more of a break-even point situation than making profits.