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Money Management in Casino Gaming

21 September 2022, 22:42 CET

Apart from entertainment, the whole point of engaging in casino gaming is to win rewards.

Las Vegas casino - Photo by Kvnga on Unsplash

Over time, gamers at Ocelot Casino have created several strategies to increase their probabilities of winning. Money management in online casinos is usually divided into risk management and bankroll management.

Risk management establishes boundaries and limits for their account balance once they reach certain win or loss thresholds. For other players that are more focused on winning strategies, they place attention on creating systems that increase their rewards.

Common Money Management Systems for Online Casino Players

Although players utilize several money management systems in casinos to get ahead, there are two common frameworks. Nevertheless, you need to understand that no matter how great your money management system is, none is perfect and can give you an edge over the casino.

These systems can also never give you a 100% probability of a win. You need to realize that every time you engage in casino betting, there's a risk that you can lose your wager. Even if the wager you take has lower odds, you still aren't sure of a win.

Popular Money Management Systems

  • Martingale

Martingale was developed sometime in the 19th century and has been used extensively by punters. It is one of the easiest money management systems since it involves simple steps. Every time you lose a bet using martingale, you're supposed to double your bet. The idea is that the moment you hit a win, you get back all you've lost in addition to gaining a sum that is equal to the amount you started with.

The negative part of martingale is that it necessitates an infinite account balance, which no one on the planet possesses. Also, players tend to get panicked when their losses get bigger while using this system.

  • Kelly Criterion

This money management strategy works differently than that of the martingale system. While martingale requires you to increase your stakes when you're losing, Kelly's criterion necessitates raising your stakes while winning. Also, you need to reduce your stakes if you encounter a streak of losses.

The issue with the Kelly criterion is that you must be sure the bet you're taking has a good chance of winning.

Conclusion

Apart from gaming excitement, people love playing in online casinos because it gives them a chance to win rewards. Some players like using risk management strategies to stem the rate of their losses. Others develop money management systems like martingale and kelly criterion to boost their results.

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