Casinos offer you a truly memorable experience, the chance to win big, some fun at the tables, drinks, food and entertainment all on offer, I absolutely love it. I am blessed to live very close to one of the world’s biggest casino floors in the Bicycle Casino here in California and I like to get down there at least once a month for a good time.
Throughout the years I can’t tell you the amount of people who I have seen get themselves into a great amount of difficulty in terms of their finances, because of their addiction to gambling, and even the most straight laced people can get sucked in. With this in mind, I wanted to share with you some tips on how to manage your cash, the next time you go to a casino.
Planning to Lose it All
The best approach that I have found in terms of how much money I will allocate to gambling, is to think about how I would feel if I lost it all. Naturally you will be disappointed with losing whether it is $10 or $10,000 but we can all afford to lose something. Personally I like to take $150 into the casino because I know that if I were to lose it, it wouldn’t be the end of the world, I would still be able to wake up the next day and pay my bills, care for myself and my family, and live a happy life. Make a figure in your head of how much you can afford to lose, and stick to it.
The next step is to ensure that you do not walk into the casino with any more money, than the figure which you have already agreed in your head to lose. The first step for most people in terms of getting into a gambling addiction, is that they lose their cash, and then continue to gamble in an effort to recoup their losses. Now this may work on occasion, but nine times out of ten, the gambler goes on to lose even more, and then plunges into difficulties. Don’t underestimate how easy this can be, limit what you take and focus on having fun.
Profit is Profit
I have seen people walk into a casino with $10k, be up $100k in the first hour, and end up going home with nothing, avoid this at all costs. The reason people get sucked in like this is because they view the money that they have won as bonus cash, like it is worth less than what they started with. This is simply not the case and just because you are up, doesn’t mean you should take more risks. Personally, once I have doubled my money, I will put that cash to one side, and just gamble with the rest, that way I know that at the very least, I am walking out with double what I took in.