Money management
  • Some people are saying that money management has no value and will eventually lose one session, or several sessions together. Or much worse, they are saying that it will lose money over all sessions added up.
    It is just plain wrong.

    Then why am I and many others long term winners at all? I've already said it before why people are losing: they are playing for fun and excitement. Anyway, winning at casino gaming is not much fun. You must follow stringent rules. It may be true that over all the BJ tables, the casino may makes it's percentage. It is losing bettors, playing for fun, and bad strategies without loss limits and money management that make money for the casino.

    Anyone who believes a 0.65% house edge on 6D games is significant does not know how to play casino games. Even if you play the 6D with CSM you still have a nearly 50% chance to win each bet, and this is not insignificant. A lot of money is to be made in those games.

    With an honest, verifiable log of decisions that resulted in an overall profit for card-counting, I will show you how money management would have done better. Heck, a sample of decisions that ended with a card-counting loss, and I'll prove the same thing.

    Here's what will happen:
    :arrow: My method will win more than any other method of betting when that other method wins.
    :arrow: My method will win even when your method loses.
    :arrow: My method will deliver a better return vs. risk than your method.
    :arrow: My method will result in a better percentage return (result/action) than any method that I use before as a card counter.
    :arrow: My method will repeatedly show a profit after losing more hands than it won.

    Successful blackjack players pursue their goals as a business, not as a leisure. As a result, the winners take a completely different approach towards betting from people who play for the action, excitement and, of course, the dream of winning big. They keep records: People who are successful keep detailed records. Keeping records builds confidence and discipline. You are keeping a journal of when, where, why and how much you bet. The idea is to reach a comfort zone for yourself and stay within that. Keeping records is a part of managing your money, and if you are not disciplined in your money management, you are going to lose your entire bankroll.

    You have to be calm, cool and collected. You must force yourself to detach. You want to create an abstract money world where profits and losses are viewed in terms of objects to keep score of your play. You don't get excited about profits. You don't want your emotions to go up and down with your bankroll. If you can't control greed, fear and hope then playing casino BJ might not be for you.

    Playing BJ for profit is like running a marathon: If you try to sprint, you're going to lose the race. It has to be a slow grinding business.

    :!: Money management is a defensive concept. It keeps you in the game to play another day. For example, money management tells you whether you have enough new money for the next session.
    :!: Money management is risk management. Risk management is the difference between success or failure while playing casino games. Playing BJ for profit correctly is 90% money management, a fact that most people want to avoid or don't understand. Once you have the money management down though with Basic Strategy and discipline you are for 100% of success.
    :!: Money management optimizes bankroll usage. Few have the ability to view their bankroll as a whole. Even fewer players make the distinction between a reactive risk, in which they measure risk to avoid losses, and an manageable risk in which risks are actively managed for a more efficient use of capital.

    In today’s casino environment and the way the game is setup, card counting is a doomed strategy for plenty of reasons. Sure, you'll get more pat hands from a "rich" deck--but so will the dealer. And if you pull a stiff against a 7 or better, you either take a hit and lose your count-inflated bet or you stand on your two cards and blow your cover. Money management may not be a sure thing in computer simulations, but it's a whole lot surer than counting cards in real live games and it doesn't promote delusions of invincibility or superior intellect.

    My method will repeatedly show a profit after losing more bets than it won. But most hard core card counters will continue to pretend that their method is superior and that they are smarter than I am.
  • I had never liked casinos and amost four years ago, I took $100 and told my wife that I was going to , give in and go to the casinos with her as soon as I read up on gambling and observed casino play.

    After a couple of months of study and going to casinos and just watching, I made my first bet in a casino in August 2000. I told my wife if I ever dipped below , my original $100 stake that I would never go into a casino again (I really didn`t like gambling).

    Almost four years later , I still hold to my promise.

    I would not have made it this long on that $100 had it not been for MONEY MANAGEMENT.

    Dylanfreak ( Now, I look forward to my weekly trips to the casinos)

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