Notes

What is the difference between bankroll and the management of money?
I'm sure you have heard the words "if you don't have great money management abilities, you'll never be successful', or what do you feel that'money management is more important than the selection strategy that is used' or even 'you'll never succeed if you do not have the right skills in managing money'.
There will always be a section of punters who is always singing about the virtues of money management. The majority of punters believe that the mysterious term "money management" is a saviour, which could transform their otherwise unsuccessful strategy into a profitable one by altering the way they bet. It's the same as Jess going on an evening out with Nicole Kidman.

In my mind, I might be treading on your toes especially if you've been misinformed by those who are adamant about these beliefs. As with find out here in this article, it is just an opinion, and you're free of course to ignore completely my thoughts.
While I'm sure I shouldn't be feeling this way but I can assure you that these words can cause me to think very bad thoughts.

Okay, so what's all the excitement about? What is the difference between money management and the management of your bankroll?

The term "money management" (in my opinion) is when a player seeks to make money from any kind of gambling, purely by employing a staking approach. We all know that no matter what game we play (horse racing as well as craps, sports betting, roulette etc), if we bet 'blindly', make no mistake, we lose. It is said that if we bet on number 7 on a roulette wheel for a long enough period, eventually the casino will walk away with our money. It is possible to be lucky in the short-term , however, but reality will set within a half-reasonable time.

However, if you think you can beat one of these games by purely changing the amount that you stake per race/bet/spin/hand etc, then you are still playing a losing game. That is, you are trying to use money management in order to beat the game. You are trying to win a losing game by simply staking.

It is evident that we could make the majority of gambling profitable if we use our knowledge and skills. Certain games are more challenging than others.

The management of your money is the final decision on the best way to place your bets after you have selected a profitable strategy.

It is when you are winning that you should to think about how to put your money in the bank, not until you've proven that you can turn profits, by using a specific approach by betting at a level stake which is basically, the same amount every bet.

Essentially, that is the primary difference. Money management is used by punters trying to beat a game through placing bets. It can be great for fun however it's not good for your wallet.

This is a bit ignorant and arrogant of me not to mention the fact, that this whole idea of staking is a bit tense. Millions upon millions of punters believe (or many punters) that it is possible to turn a losing strategy into a profitable one by 'clever money managing'. If this is true, then please, don't let me keep you from doing it. Anyone who plays the game should take the best approach for them. If your staking approach works for you and you are successful, you should definitely keep going.

On trends like using proven approaches to bankroll management. How to make the most profit from a profitable approach is what bankroll management is about, not finding an effective strategy by placing bets. There is no profitable method to stake your investments in the absence of an efficient strategy. This isn't an notion or a guess - it's a decade-old scientifically proven fact!

play the game is the responsibility of punters to decide if they're willing to accept the evidence that has been shown to be effective or prefer to disregard the evidence and claim that it does not work (as many punters have graciously told me).

The question is what if it was possible to beat an invincible game by simply staking that money, how were casinos able to exist? Roulette, as with other games at casinos is a game with a lower house edge than sports betting, horse racing or Keno. (For instance, 2.7% house advantage for roulette, as compared to 15% - 25% for horse racing, or 5% - 10% for sports betting.) If this were to be the case then one would think that the casinos are the first to be cleaned. Wouldn't you?
But, I'm telling youthat when a person's livelihood is dependent on these types of decisions, I am much more confident in using strategies that may be mathematically proven to be effective even if they are not a good idea rather than relying on hot streaks and hunches. My experience has been that hot streaks and hunches aren't going to bring food to the table.

In a sense of a tournament, much of the above does not apply. Since the player is playing against another player and is therefore an only exception to the rule. It is beneficial to consider a different staking strategy depending on the opponent's position. When playing a tournament, like a blackjack or roulette tournament, simply playing your game in a steady and conservative manner will many more times than not result in you maintaining, or possibly expanding your bankroll at least. However, to win such tournaments, it's essential to take a more aggressive approach to beat opponents.

So, to conclude If you're an avid fan of money management and believe that the facts are just 'academic wank', and think that games like roulette are easily beat by staking, then you have one thing over those using the more mathematical approaches You will be welcome with open arms at any gambling establishment.

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