Notes

What's the difference between bankroll management and money management?
I am sure you would have heard comments like 'if you don't have good financial management skills, then you simply won't win'; or what about 'money management is much more important than the selection strategy employed', or even 'you'll never win if you don't have the right money management skills'.
There is always a group of gamblers who are always screaming about the benefits of money management. best games to play of punters believe that the mystical term 'money management' can be a godsend, and will turn their otherwise unprofitable approach magically into a highly profitable one, by altering the way they bet. This is just as likely as Jess going to an evening out with Nicole Kidman.

It's now clear that I may be inflicting a bit of a snare slightly here, particularly in case you've been brainwashed by the folks who revere these two phrases. Like everything else in this article, it is just an opinion and you're entitled to completely ignore the things I've written.
I confess that I shouldn't feel as strongly as I do, but I'm telling you, I experience some really horrible thoughts entering my head every time those two words are spoken.

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

Money management, in my opinion, is the process of earning money by betting. It's done by using a staking plan. No matter which game you choose (horse racing or craps sports betting etc), losing if you bet blindly is the only chance to lose. This means that if you place your bets on the number 7 at the roulette wheel for long enough and the casino eventually win. Although we might have a good luck for a few minutes, reality will eventually set in after a certain amount of time.

You won't be able to beat these games if only alter the stake for each race, bet, spin or hand. It's a lose-lose strategy. This means that you're trying to employ money management in order to beat the game. You're looking to win a game by simply staking.

We know that if we practice our skills and gain knowledge, then we can turn most gambling actions into lucrative activities. (Some games are much easier to beat over others).

The management of your bankroll, on the other hand, is the decision which stakes to place once you've found an approach that is profitable.
If you're winning, that you need to consider how you will place your bets, but not after you have proven that you are able to turn profits, by following a specific strategy betting level stakes, which is simply betting the same amount each bet.

That is, in essence the main difference. Money management is used by gamblers who try to beat a game through betting. This may be fun for a while, but it is not good for your bank account.

games to play and arrogant for me to not acknowledge that the entire concept of stakestaking is quite contentious. Millions upon million of punters are going to claim (or many punters) that you can profit from a losing strategy through 'clever money management'. If that is the case, then please, don't allow me to hinder you. The best thing that any gambler can do is keep going in the direction that works for them. Very simply, if your strategy of staking is working for you If it does, absolutely go ahead and continue.

On the other hand I would prefer using methods that have been proven to work for bankroll management. Management of bankrolls is about optimizing an effective strategy. It's not about staking the way to success. If you do not have a successful approach, then there is no way you will come up with a viable strategy through simply staking your money differently. This is not an thought or an idea based on a hunch. this is a decade old mathematically proved fact!

It is their responsibility to decide whether they are willing to accept the research that has proven to work or if they prefer to disregard the evidence and claim it does not work (as many punters have graciously admitted to me).

This begs the question what if it was possible to beat an otherwise invincible game by simply staking, then how are casinos capable of being around? Roulette, along with other games at casinos has lower house advantage than sports betting, horse racing, or the keno. As an example the house advantage for roulette is 2.7 percent, as opposed to 15 - 25 percent for horse racing and between 5% and 10 percent for sports betting. If it was possible, one would think that casinos are the first to be cleaned out. Wouldn't you?
But, I'm telling that when one's livelihood depends on these types of choices, I feel much more confident using strategies that can be proven mathematically to be effective even if they are academically unsound instead of relying on hot streaks and hunches. According to my experience, hot streaks and hunches do not put the food on the table.

If you are playing a tournament this rule is not applicable. This is due to the fact that an enterer is playing directly against another opponent, which makes this the exception to the above rule. It could be beneficial to consider an alternative staking strategy based on the position of your opponent. You can maintain or increase your cash-flow by playing a conservative and steady game, whether you are playing in blackjack or roulette in a casino. But, in order to win such tournaments, you need to take a more aggressive strategy to beat the other players.

Therefore, in closing If you're an avid fan of money management and think that the facts are "academic wank" and think that games like roulette can be beaten purely by staking, then you have one advantage over those who use more mathematical strategies - you will always receive a warm welcome at any gambling establishment.


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