Gamers here at Jackpot Capital and all reputable online casinos love to spin for a big casino jackpot online. It is pretty difficult to win a jackpot for more than one million dollars so, when you do play for that elusive jackpot, we urge you to follow the best principles of money management.
In fact, sound money management is called for whenever you play casino games for real money and in every aspect of daily life as well. So, we will devote this article to the best principles of good money management.
Keep Track of Your Gaming Outcomes
We have said before that one of the biggest advantages of playing at an online casino such as Jackpot Capital is that we maintain a massive bank of computers that keep track of every outcome and every data point so you can play without worrying about safe and fair gaming outcomes.
Now we will tell you why good money management “requires” keeping track of your gaming outcomes.
Keep a Register of Outcomes Every Gaming Session
We will keep track of every game and every single outcome. We urge you to treat your online casino gaming like you keep track of your checkbook. However, we know that you balance your checkbook once a month or so. We encourage you to maintain a data bank of your own gaming every time you play.
If you play in short sessions, it will be easy to keep track of your gaming after every session. Keeping track gives you a strong idea of how much you have won or lost, which games were the most profitable for you, and how much of your pre-set bankroll is left after each session.
How to Set a Bankroll for Gaming
We think you see where we are going! We feel that since gamers play the more than 300 games on offer here at Jackpot Capital for real money, it is very important to know how much money you can earmark for gaming.
Sound money management means doing this every time you spend money! We all should have a set budget for clothes, entertainment, restaurants, and vacations as well as the standard household expenses.
People have a general idea of how much they can devote to a restaurant meal, to a hotel room, to new clothes, and so on. The best money management formalizes what we all have a general sense of.
Online Casino Gaming is a Subset of Entertainment
We usually think of theater shows, concerts, expensive sporting events, streaming services, and the like as entertainments. We say that online casino gaming for real money fits perfectly as a type of entertainment.
When gamers see online casino gaming as entertainment, it makes it a lot easier to budget for it as entertainment.
One of the many insights we can gather when we see online casino gaming as an entertainment, budget for it, and keep track of gaming outcomes is that we can set a sound budget for playing casino games that offer a high jackpot.
Investing is a Big Part of Good Money Management
The obvious question is how can a gamer “invest” in online casino gaming? Here are a few points towards “investing” in online casino gaming:
- Decide to stop going to land-based casinos.
- Save a set percentage of all the money you win at Jackpot Capital.
- Learn the best strategies for blackjack and video poker.
- Resolve to never follow a betting system. even if the people “offering” it say that it guarantees that you will win.
- Resolve to make yourself immune to the Gambler’s Fallacy.
Gaming at Jackpot Capital vs at a Land-based Casino
All the money you budget for gaming at Jackpot Capital goes toward gaming. To play at a land-based casino, you have to budget for all of the travel expenses. These include the actual travel and hotel accommodations, plus food, and lest we forget, souvenirs!
In that sense, gaming online is a kind of “investment” in gaming.
Playing at a land-based casino is expensive aside from the cost of getting there and staying there. Land-based casinos have tricks such as free alcohol and free buffet meals that keep people playing long after they are too tired or too tipsy to make good decisions.
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Blackjack and Video Poker are Great Games for Alert Gamers
These games have the highest return to player rate at about 99.5% if the gamer uses the best strategy on every hand.
The huge return to player rates in blackjack and video poker are for players at the top of their concentration. Alcohol, general tiredness, and the tiredness that follows a big meal work against land-based casino blackjack and video poker players.
We urge all gamers to “invest” the time to learn the best strategy for blackjack and video poker.
Why Do You Recommend Saving a Percentage of All Winnings?
Simply stated, saving is the only way to have money to invest! So, even online casino gamers can save money and earmark it for future investment.
What is the Gambler’s Fallacy?
The Gambler’s Fallacy says that a game is “due” to win big if it has not won in a long while. It also says that past results can influence present and future results.
Both of these assumptions are false!
Slots all use a Random Number Generator to determine all outcomes. The RNG has no knowledge of past results. Thus, every spin in a jackpot slot is a unique event to the RNG!
This means that a jackpot may be “due” to hit and it may hit today or in several weeks or longer!
The Gambler’s Fallacy has been exposed as the falsehood it is for many centuries! It still has a hold on people who make wagers on outcomes that they cannot affect.
Being completely immune to the Gambler’s Fallacy means that you will play for the length of time you budgeted and for the amount of money you budgeted.
What is the Big Flaw in Betting Systems?
Betting systems “guarantee” that you will win. You can buy systems. We urge all gamers to avoid all betting systems. The big flaw in all betting systems is that they work until you hit a short losing streak!
The famed Martingale system is a perfect case in point. This system is “sold” as a sure-fire way to win by making even money bets. If you lose the bet, you double the bet the next time. So, if you bet $5 and lose, you then bet $10. If you win, you “win” $5 which is your original bet.
Let’s see what happens if you have a short losing streak.
- Bet #1: $5 loses.
- Bet #2: $10 loses.
- Bet #3: $20 loses.
- Bet #4: $40 loses.
- Bet #5: $80 loses.
You have hit a short losing streak of five bets. You have made $155 in bets. Now, you have to bet $310 and if you win, you will win $5! This is a terrible bet! That is the flaw in all of the many betting systems.
Jackpot Capital wishes good luck to all of our thousands of gamers. If you are not yet a member of the Jackpot Capital family, please…
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