| There
is only one place where conservative gamblers and
aggressive gamblers meet in accord. Each of us must
play within our "comfort zone." This is
the first principle of money management: Establish
a realistic appraisal of your comfort zone. How
do you do this? If the next bet makes you sweat,
you're out of your comfort zone. If the thought
of losing "X"' amount of money on a given
night makes you squirm, then you're out of your
comfort zone. If the thought of having "this
much money!" put aside only for gambling makes
you doubt your sanity-then once again, you are out
of your comfort zone.
Once you know what and where your comfort zone is,
you have to decide how much money you wish to dedicate
to your gaming entertainment. This is how you establish
your bankroll-the total amount that you are prepared-
to lose over a period of time. This bankroll should
not be a maximum; it should be a minimum. It should
be the amount that you can comfortably put aside
for your exclusive gaming use, so that if you lost
it all you wouldn't be worried about paying your
bills. Casino gaming, like all other areas of life,
requires that you establish a financial budget that
you must stick to. The casino is a place where the
best-laid plans of philosophers and accountants
can go awry when the cards, dice, machines, or your
adrenaline go in the wrong direction.
Let's take a look at a reasonably affluent gaming
enthusiast-we'll call him Mr. Garner. He decides
to put aside $5,000 for his pursuit of Lady Luck.
This $5,000 is his "play money" his bankroll.
He will only use it for casino gambling. It is extra
money, not needed for food, clothes, or shelter.
With $5,000 as a total bankroll, would it be wise
for Mr. Garner to go to a casino and bet $1,000
a hand at blackjack? Or would he be better off betting
$1,000 a roll at craps? Or should he put that $1,000
in a two-coin $500 slot machine? Obviously, he shouldn't
do any of these things-not if he wants a reasonable
playing life. It is quite possible to lose five
hands of blackjack in a row, or have five shooters
in a row seven-out in craps, or lose five spins
in a row on a slot machine. If Mr. Garner wants
to spend some time in a casino, betting $1,000 a
pop with a $5,000 bankroll will probable assure
him of a quick exit.
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