Money management system

So many people refuse to properly manage their money while gambling.

They are never fully aware as to how much they are content to win, or in the case of losing, they never set a limit on how much they will allow themselves to lose on a given day.

Believe me, it is just as important to restrict your losses, as shown in the session, as it is to set goals on the winning side.
But, setting these limits and goals is one thing. Following them is another. If you insist on gambling, regardless of what game it is, you have to set rules, and follow them. Don't be impatient and don't be greedy.
If you ever do master all of the rules set up during the chapters on money management, the changes in your approach to the game of Blackjack will be dramatic.
Give these changes a good, long chance to work.

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It is said that something worth having, is worth working for. Well, try to master the art of consistent winning at Blackjack.
If you follow the system of breaking your bankroll into sessions, and your sessions into series, you will be on the right road to a money management method.
You then set your loss limits at 40% per session. The win percentage will be 20%, and when that is reached, break it in half, and work with the excess.

As long as you keep winning with the excess, you stay at the table.
When the excess is gone, so is your session.
Set loss limits, and keep them. Set win goals and reach them.

Knowing when to end the session is the strongest mark of the professional gambler.
A player sits at a table with $200, and wants to walk away with a 20% profit.

He plays for about an hour, never getting more than a $25 profit, nor any worse than a $30 deficit. Finally, he gets a good run of cards and now has a profit of $70. Right there is the crucial part of money management. Take that $70 profit and guarantee yourself a profit. Put aside $35 aside as your "pay" for that session. The other $35 is your excess. The initial part of that session is over. You can never touch your session startup money of $200, nor the first $35 again. You are positively going to leave that table a winner. The excess $35 will be used to play with. Every time you win a series, half goes aside as additional profit, and half stays with the excess. This keeps you playing at a lucrative table.

The same is true of your series. When you hit the fifth or sixth straight win of a series, don't be ashamed to drop back down to a lower bet.
You can keep that series alive, and now you can become extra aggressive. The key to this whole New York System is learning how to win.
It is a profitable experience.

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