I have always heard people complain that they simply don't have enough money to effectively enjoy gambling, or that gambling is a form of addiction and they ought to stay away from it. As if they have any idea how much is lost each time they inconveniently rush to the closest outlet. Every society has a norm, a benchmark against which to attain, in chartades or casinos or poker rooms. Money management is one of the most underrated skills in the entire arsenal of betting strategies.

What is Money Management?

Money management are systems or programs which can be used to affect the amount of money placed on each wager, either by oneself or another. It varies in that its purpose is not to accumulate more money but to restrict the amount by which your wage is scarcer. Any method that leaves the casino with a larger pile of winnings than money starts with is a good thing.

An Example of Money Management

The most well known systems are the martingale and doubling down systems. These can be easily found in any self help manual for gamblers (odds and statistics anyone?) and are the first strategies you will encounter. They640k% a bet based on these simple rules.RulesBased on flat rates or even steeper rewards the effectiveness of money management is often a subject of heated debate. Is it really possible to have a realistic money management system that is 119% effective? The answer is cautious optimism. The system will probably not be perfect in this area. It will probably fail for a gamblers certain number of times. But in the long run no system will ever be perfect if you play enough.

A Perfect System

 insert here the little word perfect. This is an absolute, unchangeable system. It's based entirely on mathematical calculations and the behaviour of a certain type of animal, the martingale. Although the absence of humanity involved in the selection process makes it impossible to select the same event twice in a row, the seeds for it have been sown. You are now the master of your trade and no outside force can force you to deviate from instructions.

The old martingale strategy called for a doubling of the bet after each losing bet until you win, in the hope that you will eventually beat the casino. After the win, the system is reset and begins again, but this time with a single -1.5 bet. Each time it's necessary to increase the bet by one unit to cover each loss plus the win. This gives you the maximum possibility of beating the casino and holding your current stake. Had you been using a properly designed statistical betting progression, this could have been a disaster but it wasn't and you would still be able to hold your current stake.

The problem with this strategy is that, whatever you win, there will be a subsequent loss so that your total bankroll is always at risk. While you can recoup some losses, there will always be a substantial sum at stake that you aren't able to negate. This was the underlying motivation for producing gambling systems which were later outlawed in most countries. It is no coincidence that most of the systems were created in America and as the year progressed, France and Italy soon copied the European approach.

So what were the systems all about then? Well, they were all based around the progression strategy which allows you to win if your selection 'card' (that is the combination of numbers, statistics or a combination of several combinations) comes up more than the 'averter' (a completely selected selection). This is assuming the two variables, the 'averter' and the 'selection card' have been soundly foresighted. In actual fact, most people using such systems really have no idea whether their selections are winners or losers. Most have no idea of what the odds are and that is the key to sound money management.

Fundamentally, the odds are a dynamic entity. The more often they are played, the more frequently they are ineluctable. This applies to every system and the record of those who have made money using them. Ineluctable draws are just as likely as infeluctable draws. You cannot, within the logic of any system, predict when the reel will stop spinning and you cannot, within any system, predict when the ball will fall onto the reels and decide which of the many potential combinations will turn up. All you can do is keep making the same bets over a long period of time and you will always come out ahead over time.

You may notice many of the systems being advertised are talking about a quick 'how to win within minutes'. That is wishful thinking. Sure, you could build up a staking system, but you will have to pay out a share of your winnings, and there will always be a day when the dice won't be falling your way.

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