Baccarat, Money Management
This is the hardest area for recreational gamblers to digest, simply
because it requires you to come up with a betting scheme to dovetail
with your gambling theories to maximize your profits. Translated that
means: bet smart to win big.
From old timers to some of the more astute gamblers on the Strip, the
best money management strategy can be reduced to this simple directive:
bet slow and small when you are losing and bet more when you are winning
(see the information on streaks above). In other words, one of the worst
things you can do is "chase" your losses. This means betting more and
more until you finally win. I have seen losing streaks of as many as
10-15 hands. It seems like you are a genius when you are making the right
decisions and winning and a torrid loser when you couldn't name the missing
letter in the word m-o-n-y.
You need to account for these possibilities. If you are a $5 bettor, increase
your bet to $10 or $15. When you lose, decrease it back to $5. On the other hand,
if you keep losing, change tables. Don't be afraid of that four letter word:
walk.
One other tip: if and when you win, don't give it back. Try not to think
of your winnings as "theirs." You've won and it isn't their money any
longer. Do you honestly believe casino-managers take your money thinking, "Ah-ha,
now I'm playing with their money."' If you won the money, it is yours,
period.
Baccarat History >>>
A dollar won is twice as sweet as a dollar earned." - Paul Newman, The
Color of Money
"You cannot beat a roulette table unless you steal money
from it."- Albert Einstein
"It is the mark of an inexperienced man not to believe
in luck." - Joseph Conrad
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