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Key to Success
 

At 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 stake.

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.

Employing proper 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!

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Illustration of Pot Odds
 
As 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.
 
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