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Professional Gambling | Money and Budget

A professional gambler is not the same as a pathological gambler. The professional gambler plays to earn money, not lose it. Because of this, their approach differs from that of other gamblers. The professional approach must be systematic and organized. Here is a brief look at one of the first things a pro has to learn: how to handle money.

GAMBLING MONEY AND BUDGET

The first thing a professional gambler needs is a budget. This money must not be drawn from funds intended for other purposes. That is, it must not be money needed for other things such as bills, tuition, vacation, etc. You must never bet money that you cannot afford to lose. Not only would this ruin your life and family, it would also be very bad for your game. The less pressure there is on you to play and win, the better a gambler you will be.

Now once your budget is set, you must decide how much money to use per gambling expedition. This depends partly, of course, on the casino you are going to and the game you will be playing. Make sure you never bet too much of your budget at any one time. It should be no more than 1/6 or 1/5 of your total gambling budget.

In some cases, such as with card games like blackjack, the single casino outing budget should be 250 or more times the smallest normal bet made in the game. How much of one outing bankroll should be put in one gambling session also depends on the game being played. For example, with a progressive type of game, the session budget must be no more than 1/6 of the total casino trip budget.

PLAYING, WINNING AND QUITTING

Set a goal for winning. It should not be too high (unless you play extremely well). If your winnings reach your goal, call it a night. If you want to play more, put some of the money at stake but set aside MOST of it. Do not risk it. And do not keep playing hoping you will win more.

If you lose, do not fall into the trap of raising the stakes in a bid to regain what you lost. Chances are, you are probably messed up in the head already and not playing at your best. If you are losing spirit, or if the situation no longer allows you to play your game according to plan, it is time to quit. There will be another day.

You know you should quit if other players are annoying you, or if you are losing self-confidence. You should quit if you cannot follow your game plan anymore. You should quit if something is getting on your nerves and influencing your play. No pro athlete would want to play less than their best. Neither should you!

CONCLUSION

To be a professional gambler, one must play like any pro and plan like any wise entrepreneur. Money management is one of the first things you need to lean on the road to being a professional gambler. So take it seriously.