the conclusion of this page you'll find a money management
proportional betting chart for most of the current
casino games. This chart is based on Frank Scoblete's
Guerrilla Gambling: How to Beat the Casinos at Their
Own games. By betting only a small proportional amount
of your session stake on any given decision, you assure
yourself of some staying power during a session. I
believe that most people go to a casino to enjoy at
least several hours of gaming fun. To guarantee yourself
that time, you must bet in proportion to your session
Perhaps the best
advice I can give a player about deciding when to
leave a session is this-never leave while you are
winning. Say you were considering quitting a session
after winning $200. But you find that you not only
won that $200 in short order, but the last decision
has put you over that mark. You haven't been playing
very long, but should you get up and go? I would say
no. Stay, take a small amount of that $200-plus win-say
$50-and play with that. You might find that you keep
winning, which is great! You might find that the games
that you're playing has cooled off, and you lose it.
Now is the time to quit.
Why is this my
advice for those who wish to put a monetary limit
on a session? Because I believe absolutely in limiting
one's losses with an absolute loss-limit (the session
stake) but I don't believe you should limit your potential
for a big win. A win limit should be somewhat flexible
to allow for a potential economic killing.
If you have been
playing several hours and the games has gone back
and forth, and you find yourself ahead $200-yes, the
time has probably come to call it a session. However,
if you're hit with good luck fast, this might be your
big night! I'd take the gamble by playing with a small
amount of my early win.
money management techniques can enhance your fun and
increase your chances for profit. Never go to a casino
and "wing it." The best players always go
A4th a predetermined plan-it's mind over chance. Employ
techniques described in this page and there's a good
chance you'll come home a winner!
you read through the scenarios, refer to figure 6.1.,
which graphically summarizes these ideas.
Q: Suppose you are playing the same 82-$4 Texas Hold'em
as before, except this time after the flop, the first
player to act opens with the $2 bet. Now its your
turn. What are your pot odds?
A: The pot is currently $12 and you must call $2 to
stay in. That makes your pot odds 12:2, or 6: 1.
But how useful are odds of 6:1, considering there
are three players vet to act? Not very. Any decisions
you make based on your pot odds must take into account
what those odds end up being at the end of the betting
round, not at the instant you make your decision.
Therefore, in order to arrive at a useful estimate
of your pot odds, you must make guesses about how
you expect the remaining players to act. If you expect
those three players just to call, then the pot size
(not including your bet) will be $18, which makes
your expected pot odds for the round 18:2, or 9:1.
The pot odds that you end up with-we will call these
effective pot odd sz'-will be less if some of the
remaining players fold, or, perhaps more importantly,
if a subsequent player raises. The terms "expected
odds" and "effective odds" can be used
almost inter changeably; the only difference between
them is that the former is a guess about what the
latter will be. Note that if you act last in a betting
round, you don't have to make any guesses about your
opponents to know what your effective pot odds are,
which can be a big advantage.