Get Rich By Managing Your Money, Not By Blowing Your Wad

by Bodog Casino | Oct 24 2008

Bitten off more than you can chew? You know you’ve done it. Everyone’s done it. Hell, we’re in an economic crisis because of it.

And when it comes to gambling in an online casino it can be even harder to resist the temptation to let your dollar ride until it looks like the Dow Jones.

So how do you resist lowering your bankroll like Fannie Mae and Freddie Mac? We give some tips on how to keep your cash shining like a Jay-Z video.

• Bring in a set amount to spend…

We’re sure you’ve heard this a million times, but it needs to be hammered home. You need to bring in a set amount of cash you want to spend, not make, in order to keep yourself from going over the edge. Players that play with a certain amount to make end up losing more in the end. At least when you have an expected amount to lose it doesn’t hurt (as much) when you’ve lost it all and you won’t be as needy to go back into your online account and take out more cash.

• Quit while you’re ahead…

This has to be the biggest step to leaving an online casino with heavy pockets. When should you take your winnings and cash out? The ideal situation would be when you’ve doubled your money. Most players are looking to double their fun whenever playing but greed always eats them up, then spits them out. We can understand the desire to keep playing if a big payout allowed you to triple or quadruple your money in one spin, but be ready to cash out immediately if things start scaling back from triple to double.

• Stick to strategy…

Believe it or not there are casino strategies that can make you money. It’s just that greed always steps in the way. One strategy that has been known to work is the double-up method in roulette (put $0.25 on black, if it hits, puts $0.25 on red. If red loses, you double up on red and continue to do so until it hits). Patience is key in this system, as a profit can be made over time if you stick with it. The problem most players get into is lack of patience. Quarter bets become dollar bets, then you’re taking chances by throwing down $5 on numbers 1 through 18. Next thing you know you’re leaving the casino with empty pockets. Stick to your strategies, whatever they may be. The more chances you take the more you’ll end up losing.

• Don’t change your bets…

Another popular one. We’ve all been there: You see that you’re winning with your dollar bets at blackjack so you move up to five. Next thing you know you’ve lost three bets in a row and are questioning the casino’s reputation. The casino is not the problem… seriously. It’s just simple math.

Jumping from $1 to $5 might not seem like a huge leap but it certainly is. Three losses in a row at $1 equals $3, three at $5 equals $15; that’s five times worse! Don’t move up your set dollar amount when playing; it’ll help you conquer bad beats.

Ready to put what you’ve learned to the test? Play your favorite online casino games at the Bodog Casino.