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Here's
what he should do: First, he should decide how often
he intends to go to a casino in the next year. Let's
assume he wants to go five times. He should divide
his $5,000 by five, allowing him $1,000 per visit.
This becomes his "trip stake." He only
takes his trip stake with him when he goes, and
he leaves the rest of his bankroll in the bank at
home. Creating a trip stake assures that the player
will never go broke in one trip. Mr. Garner knows
that no matter how bad his luck may be on one trip,
it can never be bad enough to destroy his entire
bankroll, most of which is safely tucked away, far
away from the casino! He knows with certainty that
he will live to play another day.
With $1,000 as his bankroll for a trip, how should
he play? Mr. Garner must first determine how many
sessions of play he wishes to engage in. Does he
wish to play two, three, or four times a day, or
just once? Let's assume that Mr. Garner wants to
play two sessions. He should divide his $1,000 in
two. He now has $500 per session. This is his "session
stake."
Let's do a quick review before going on to the more
esoteric money-management question of "When
do we quit our playing session?" The first
principle is to establish your comfort zone, and
then establish a bankroll-the total amount of money
that you are willing to spend on gaming in a year-that
is comfortably within this comfort zone. Next, divide
the number of visits that you intend to make to
the casino into your annual bankroll. This becomes
your "trip stake." Then divide the number
of sessions that you intend to play into your trip
stake. This last figure becomes your "session
stake."
You must never go over your session stake in one
session. If Mr. Garner were to lose that $500-after
five minutes or five hours-his session is over.
He does not borrow from the next session stake in
order to continue playing. This leads us to the
most difficult question of all. When does Mr. Garner
quit a session? Certainly, he would quit a session
if he lost his entire session stake. However, he
shouldn't go into a session thinking, "I'll
play until I lose my entire session stake!"
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