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In the game of Blackjack, the term money management means having a system to either allow yourself to win and also to prevent big losses by managing your money.  We have more on our site about this which can be found by clicking here.

But basically, the idea behind money management is twofold.  The first issue is to remember that one can lose at gambling and therefore to never bet more than they can safely lose.  One way of approaching that figure, if gambling is fun for you, is to ask how much money one would spend at a non-gambling resort each day - and then to allow that as a daily budget each day - but to not gamble over that amount.  That way one can see gambling as having fun and costing no more than similar types of entertainment.

The second part of money management is to allow yourself to win.  Some gamblers will never leave a slot machine or a blackjack table a winner - but always insist on only leaving when their money is gone.  If that is a rule of yours - that you must lose - then you will always lose.  Set a limit that if you reach that limit - either a high or low number - that you will cash in.  And when you cash in - decide ahead of time if that time means it is time to go to another table or to stop for the day.

But it is good to set limits for both winnings and losses.  By setting a limit on winning, I mean being willing to walk away a winner at some amount of winnings - and not insist on giving all of the money back.



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Blackjack book   Book: The Complete Blackjack Survival Kit (click for info)
eBook Available from Google Play, Amazon Kindle, Barnes and Noble Nook

Does this book tell you how to win? No. It does tell you how you might get the odds in your favor, and gives some strategy tables for some of the more common blackjack games played in casinos. It also tries to explain using math and simulations why getting the odds in your favor may indeed improve your play, but why no one we know of can guarantee winning all of the time.

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