Notes

What's the difference between a bankroll and money management?
You would probably have heard comments such as "If you don't have the money management skills, then you aren't going to be able to win" or how about "money management is more crucial than the selection strategy you employ"; or even "You will not win if your financial management skills aren't up to scratch."
One group of punters are always raving about the benefits and advantages of managing money. They believe that the magical term "money management" can be a godsend, and can transform their unprofitable approach magically into a highly profitable one, simply by altering how they bet. I can tell that there's more likelihood of this happening like it is to Jess going out on a night out with Nicole Kidman.

Now I realise, that I could be stepping on your toes somewhat here, especially in the event that you have also been deceived by the people who revere these two phrases. As with everything that I have written, it is just an opinion, and you're free to disregard the things I've written.
I acknowledge that I shouldn't be feeling as strongly as I do. I'm telling you, I experience some very negative thoughts that enter my mind every time these two words are mentioned.


Okay, what is all the fuss about? Just what is the difference between managing your bankroll and money management?

The term "money management" (in my view) is when a punter is trying to earn money from any kind of gambling, purely by using some sort of stake-taking strategy. It doesn't matter what type of game you select (horse racing, craps, sports betting etc), losing if you bet blindly is the only way to lose. This means that if you bet on number 7 at the roulette wheel for long enough and the casino eventually be the winner. It is possible to be lucky in the short term, however, but reality will set in a half reasonable time period.

However, if you think you can beat any of these games by simply altering the amount you stake per race/bet/spin/hand etc, then you are still playing a losing game. It means that you're trying manage your money to beat the game. You are looking to win a bad game by just putting your money into.

We have learned that if exercise our skills and knowledge, then we can turn the majority of gambling games into profitable exercises. Some games are more difficult than others.

The management of your bankroll is the final decision on what to put your money on once you have chosen the most profitable strategy.
The only thing you should think about is how you stake your money in the event of a win.

Essentially, that is the main difference. Money management is employed by gamblers who attempt to beat the odds by placing bets. It can be fun, but it is not good for your bank account.

It's stupid and arrogant to not acknowledge that the entire concept of stakestaking is quite contentious. There more information upon million of gamblers who affirm (maybe even the majority of punters) that they can transform a losing strategy into profit-making one with clever financial management'. I'm not stopping to see if this is true. The best thing any punter can do is to continue with whatever is successful for them. Simply put, if find your stake approach to work for you take it to the next level and keep going.

I prefer, however prefer using strategies that have been proved to be effective that's why we are able to get into managing our bankroll. Management of bankrolls is about how to maximize an effective strategy. It's not about how you stake your path to success. You can't find a profitable way to stake your selections if you don’t have an efficient strategy. It's not a theory, or a guess - it's a scientifically proven reality that's been in use for over a decade!

It is their responsibility to decide whether they are willing to accept the research that has proven to work or if they prefer to dismiss the evidence and say it doesn't work (as many punters have politely admitted to me).

In this regard one must be asked if it were feasible to beat an impossible game by simply staking, it would have to be among the greatest mysteries in the world as to the way casinos are able to exist. Roulette, along with other casino games, has lower house advantage than horse racing, or the keno. For instance the house advantage for roulette is 2.7 percentage, which is compared to 15% to 25 percent for horse racing, or 5% – 10 percent for sports betting. If it was likely, you would think that casinos are the first to be cleared. Wouldn't you?
However, I say to youthat when a person's livelihood depends on these types of decisions, I am much more confident relying on approaches, which could be mathematically proven to be efficient, even if it is all 'academic rubbish' rather than relying on hunches and hot streaks. My experience has been that hot streaks and hunches aren't going to put food on the tables.

If you are playing a tournament most of the above doesn't apply. This is because an entrant is directly playing against an opponent, which makes this the exception to the rule. In this case, it could be beneficial to utilize some sort of staking approach which can differ based on the opponent's position. In virtual reality as a casino roulette or blackjack tournament, simply playing in a steady and conservative approach will, more often than not, lead to you maintaining, or possibly expanding your bankroll at least. However, to win such tournaments, it's essential to adopt a slightly more aggressive approach in order to outsmart the other players.

In the end, if money management is your forte and you think that games such as roulette can be won by staking, then you're more likely to get accepted in any gambling establishment.

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