Notes

The Difference Between Bankroll and Money Management
You would probably have heard comments such as "If you don’t have money management skills, then you aren't going to succeed" or how about "money management is more important than the strategy used" or "You won’t win if your money management skills are poor."

One group of punters will always boast about the virtues and benefits of managing money. They think that'money management' will magically transform their otherwise unsuccessful approach into one that is profitable. All they have to do is change the way they invest. I can tell that there's more possibility of this happening like it is to Jess going out on a night out with Nicole Kidman.

Now I realise, that I may be stepping on your toes a little here, especially in case you've been influenced by those who worship these two phrases. As with everything that I have written this is simply an opinion and you're entitled to completely ignore the things I've written.
While I'm sure I shouldn't be feeling this way however, I will tell you that these words can cause me to experience some negative thoughts.

What's all the controversy about? What exactly is the distinction between bankroll management and managing money?

Money management (in my opinion) is when a player is trying to earn profits from any type of gambling, purely by employing a stake-taking strategy. It doesn't matter what game you choose (horse racing or craps, betting on sports, etc.) losing when you gamble blindly is a sure way to lose. That is to say, that if we put our money on the number 7 on a roulette wheel for long enough then eventually the casino will walk away with our money. There is a chance that we will be lucky in the short-term , however it will all be over within a half-reasonable time period.

It is impossible to win these games if you only alter the stake for each race, bet, spin or hand. This is a lose-lose strategy. That is, you're trying to employ money management in order to beat the game. You are trying to win a bad game simply by putting money on the table.

It is clear that we could make the majority of betting profitable by utilizing our knowledge and skills. (Some games are much easier to beat over others).

Management of your bankroll, on other side, is the choice of which stakes to place once you've found a profitable approach.
You should only think about the way you place your bets in the event of a win.

That is, in essence the main difference. Players who attempt to beat a game solely through staking are using money management. It may be great fun, do not get me wrong however, it's not great for the wallet.

It would be reckless and arrogant to not mention that the whole idea of stakestaking is quite contentious. There fun games upon million of gamblers who claim (maybe even the majority of punters) that you can transform a losing strategy into an income-producing one by using 'clever financial management'. Don't let me stop to see if this is true. Every punter should take the best approach for them. Simply put, if you are able to make your stake strategy be effective Then go ahead and continue to work.

However, I prefer to use proven approaches to bankroll management. How to make the most out of a profit-making approach to managing your bankroll is about, not finding an effective strategy by placing bets. It is difficult to find a lucrative strategy to stake your stakes without an efficient strategy. This isn't a fanciful thought or an idea based on a hunch. this is a ten-year-old scientifically proven fact!

Whether punters want to listen to learn about what is known to work, or if they want to throw their heads into the sand and say that this is just 'academic wank' and that it isn't working (as a number of punters have told me) It is obviously the decision of the punters.

The question is what if it was possible to beat an invincible game by simply staking the money, how would casinos be able to exist? Roulette, along with other games at casinos has a lower house edge than betting on sports, horse racing or Keno. As an example the house edge in roulette is 2.7 percentage, which is compared to 15% - 25% for horse racing or 5-10% for sports betting. If it was possible it is expected that casinos would be the first to be cleaned. Wouldn't you?
However, I say to you, when ones livelihood depends on these types of choices, I feel much more confident choosing strategies that could be mathematically proven to be successful even if it's academically unsound rather than relying on hot streaks and hunches. laptop is that hot streaks and hunches aren't going to provide food for the table.

If you are playing a tournament, much of the above doesn't apply. Since the player is playing against another opponent, this is the one exception of the general rule. This is why it might be beneficial to employ an approach to staking which will vary, depending on the position of the opponent. When playing a tournament, like a roulette or blackjack tournament, simply playing your game in a steady and conservative manner will many more times than not, lead to you maintaining, or possibly growing your bankroll at least. In order to win these tournaments you must be more aggressive and beat the other players.

In the end, if money management is your thing and you think that games like roulette can be beat purely by staking, you're more likely to be accepted in any casino.

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