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***GambLux EDITOR ARTICLES*** |
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Can You Lose Money and Still Come Out a Winner?
[Sunday, October 29, 2006]
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When it comes to money management at the online casinos there are many differing opinions. While some gambling experts believe in a strict money management plan in order to come out on top, others claim that money management is a waste of time with games of chance. The fact remains that even the best players are going to have nights where they walk home with a full wallet, and nights when it comes home empty. So how can players know when it's time to deposit more money into their online account, or when it's time to shut down the computer and walk away?
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For the most part, money management comes down to a player's personal financial situation. This basic philosophy isn't just related to online and brick and mortar gambling either. Imagine that it's Friday night and you've just received that extra bonus for a job well done, a promotion, or a little extra cash fell your way after a good poker game with your buddies. What do you do? For the most part, you're likely to take that extra cash and take your special partner out to eat, or join friends at a bar. Either way when you have that extra cash, few would consider you irresponsible for blowing it all on having a good time. It's having a good feeling.
The same goes for online casino and brick and mortar casino gambling! When you have the extra money in your pocket, why not go out and enjoy it? If you won last night, and you go out and lose that extra cash tonight, what does it matter if you have a good time? Enjoying yourself at a casino is still less destructive than spending all your money at the bar, and you'll find you feel a lot better in the morning as well! So if you're one of these people, why not hit up the cash machine when your funds run out and keep on playing? Win or lose, you are being entertained for your money.
Of course there are always the type of people (the 'careful savers') who take that extra cash, from work or from the casino, and put it in their savings account at the bank. These are the kind of characters who show up with $500 to play and when that money is done, it's done! These are also the same people who bring $50 to the bar, and when it's done they go home. While there is nothing wrong with saving your money, it's just not everybody's idea of a good time. There are some who like to party, and some who like the after party!
However, the fact remains that gambling is only fun when you're risking that bit of extra money. When you have the money to spend on entertainment, then it doesn't matter where you spend it. The only true money management is knowing when you need to stop. When you can't pay your rent because you lost the money in the slots, that's when spending stops being entertaining. In other words "Have fun, but be smart!"
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