How to Manage Your Money in a Casino

Going to a casino is such an exciting experience and it is something that I have been doing almost every month for the last few years. Unlike many who go to a casino, my goal is not to win the most money possible but rather to enjoy the experience on the whole, and hopefully walk out with more than I walked in with. I am fortunate to have the incredible Bicycle Hotel and Casino not far from my home, and given that it is one of the biggest in the country, it provides a wonderful experience. The key to having fun in a casino is being smart with your money, regarding both how much you take, and how much you spend. If you are heading to the casino any time soon, here are some top tips on managing your cash.

Take to Lose

I usually walk into the casino with $150, this is the figure that I have already decided in my head, that I can afford to lose. Now, nobody goes into a casino expecting to lose, but if you have it in your head that feeling of walking out after losing everything you took, you must be able to feel as alright as possible with that sum. If I lose the $150, for sure I’ll be disappointed, but losing that amount won’t ruin me or send me spiraling into depression. Work out how much you can honestly afford to lose, and just gamble that.

Limited Pockets

Once you have already agreed on the amount that you are going to be comfortable with losing, you must ensure that you take no more money than that. The reason that people get into financial difficulties when they are in casinos is because they lose, and then they continue to gamble in an effort to recoup their losses. This is a strategy that rarely works because the gambler becomes desperate to win their money back, and makes poor choices that see them lose even more. Don’t risk this happening to you, take only what you have agreed and don’t gamble any more than that.

Winning Limits

If you are on a good run and you are winning well, it is vital that you know when you should walk away. The problem that many people have is that when they are winning, they feel like it would be impossible for them to lose so they’ll up the stakes, usually this results in them losing their winnings. Many people think that if you’re gambling with winnings then you are only risking your profit, and this may be true, but that doesn’t mean that somehow profit is worth less than the one you started with. Give yourself a sensible limit in terms of how much you’ll win, and then walk away when you hit the limit, there are always other days to try and win some more.

Manage your money well and enjoy your time in the casino.