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Effective Money Management – The Key to Successful Gambling One thing you can never legally guarantee when you gamble is a win. Regardless of the amount at stake, there’s always that risk of losing. The good news is, such risk can be managed, and you can raise your chances of pocketing the prize. If you look around online, there are many gambling tips you can find, but the most important ones are, of course, those that involve money management. Good money management is vital to good gambling habits and even though many people actually commit to a certain limit in the amount of money they put on the line, you can do much better than that. No, you don’t have to saddle yourself with a complex spreadsheet you need to consult for each game. It is perfectly smart, however, to rotate your cash when you play. So let’s say you have $60 on a visit to your local casino. This may be in 10 singles, 5 $10 bills, one $50 bill, etc. It would be smart if you decided on a certain number of tickets you’ll rotate. Three is quite a nice number, so maybe you can have three $20 bills. You can then begin with small wagers and hope you’ll have to roll them up. Moving on to another game may be safe if you run through the $20 on your first try. If you get used to pushing things too far, you may start losing dangerous amounts.
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When you reach a point in which a single ticket has doubled, grab your money and divide it, making sure you always have three tickets, though four is okay if that’s how you play. If you have as many tickets as you began playing with, there’s no need for you to stop and worry about your money.
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The basic rule is that any ticket you’ve doubled in value must be pulled. Playing down another ticket is generally ok if you have at least a single ticket with double value or higher. In the end, you just have to keep your money in play so you can take a shot at each possible win. This means you’ll win smaller prizes, but the risks are smaller as well. While gambling is all about risks and hoping you’ll win some money, there are good ways to gamble and there are dumb ways to do it. Besides, gambling must only be a form of entertainment. The worst thing you can do is to make it a full-time job. You may be great at it, but it’s not even a big factor. This is all about chance, and the only way you can make it work for you is if you use your common sense. That should make any gambler more effective in managing his money.

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