5 simple ways to stay on top of your winnings


12/14/2012
By Debra SaundersGoogle
One of the biggest obstacles gamblers face is trying to manage their money. You could be one of the best and most skilled players in the world, but if you have no management skills, you will go broke just the same.

Pay Yourself

One of the most important steps to managing your winnings is to make sure you pay yourself. Treat your gambling as a job and cut yourself a salary each time you win. Whether it is a percentage or specific amount, as long as you set aside money for yourself.

Take care of your tools

Your money is your tool in the gambling world. Think of a mechanic who needs to buy tools to fix the cards they work on. Without these tools they would not be able to make money. Your tool is your money and without this money, you cannot go on playing casino games. If you look at your winnings with this mindset, you will treat it much differently.

Invest

There’s a popular term in the business world that goes: “It takes money to make money.” This saying is very true for gamblers as well. Investing your own winnings in yourself is a great way to increase profits and grow your gambling business.

Each time you win, set aside some to increase your bankroll. Over time, you will have a large enough bankroll to move up to higher limits. Playing for more money means that you can make more money.



Tracking

A good way to keep track of winnings is to write them down. With modern software this is easier than ever. There are free programs such as Open Office that allow you create spreadsheets in which to keep track of your gambling. Record each session with losses and wins and soon you will see just how much you are making.

Cash out

This last step to manage your winnings is something most fails to do. A common scenario in the gambling world is when a player has a big winning session and keeps all this money online or in their wallet. Next thing you know they’ve gone on to play more and more and lost all that profit.

Once you have reached a certain threshold of money in your accounts, cash it out. Only leave enough to play the games you want. Having a lot of money to play with is a recipe for disaster that happens all too often. It’s just too easy to dip into your profit to try and break even after a losing session or just being bored and wasting it.

Follow these 5 easy steps to managing your money and you will be on your way to winning more, playing more and having an overall better gambling experience.



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