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Money Management

Money management is one of the key factors in winning at the craps table, and is tied up to self-control, since leaving a table at the correct time often makes the difference between being a winner or loser.

Money management can be divided into several parts, as follows:
-- The total gambling bankroll of the player
-- The bankroll necessary for one session of play
-- Betting limits to be followed
-- How much a player should lose at any gambling session
-- How much a player should win at any gambling session
Total Bankroll

Most players don't reside in the same city where they do their gambling. They may be visiting the gambling resort for the day, for a few days, and in some instances for a week or more. If a gambler wants to play seriously, he must take along a sufficient bankroll to finance his games otherwise he'll either have to play wildly, hoping for an immediate big win, or he'll play too cautiously, since he won't have enough to ride out temporary losses and take advantage of winning streaks.

Playing without sufficient capital is playing with scared money-the gambler is scared to increase his bets and scared to lose and thus get tapped out.

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High-Low Hands
The problem is that there are reasonable arguments in favor of each of these approaches. Some are more reasonable than others, but none are irrational. It becomes vital to discuss and agree upon what rule will be used before a hand is played because hard feelings will result if someone has to make a decision after the fact.

In my opinion (and that's all it is), I like the idea of rewarding good play (playing wheel cards that can turn into small straights) and avoiding harsh penalties when a player has a good hand like a wheel. Players who swing should be allowed to split the low (or high) end when they tie there. This certainly doesn't make swinging a wheel an automatic play; wheel owners who suspect a better high hand might be out sometimes must opt to declare low only. It just seems wrong that someone who owns a steel wheel (A-2-3-4-5 suited, the best possible low and a straight flush for high) could wind up with nothing if he swings his hand and someone else has a regular wheel.
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