Golden Rule #1 – Budgets

I usually play two sessions per day at the tables and when visiting Vegas we are there for three days – that’s six sessions that each need a budget.  I bring $100 bills with me in my pocket.  I don’t use ATMs – they are one-armed bandits for the banks.

My budget is straight forward, 100 minimum bets per session.  If each minimum bet is $5 then each session needs $500 or for six sessions then $3,000 for the visit.  So my Bank Roll (BR) is $500 cash in 5 $100 bills that I take to each session; the remaining funds are in the room safe.

Roulette moves slow when compared to Black Jack – Craps might be even slower but depending on how many dealers at the Roulette table 2 to 3 minutes is required from spin to spin.  That’s 20 – 30 spins per hour or 3.5 to 5 hours of playing Roulette with every spin a loser. (I’ve never done that but I’m sure someday it will happen)  I play 3 to 4 hours per session and then leave for a meal or a show.

It’s important to view the BR as NOT your money but the casino’s money – please think about that; the BR is theirs.  It’s your job to win back as much as you can during that session using that money.  If you run out of money you leave the table and think about what you could have done different so that won’t ever happen to you again.  You DO NOT go get more money – if you do that means you have a gambling problem and not a cash flow problem.

It’s important to realize that you have 100 minimum bets at your disposal and that’s all.  That concept frames just about everything else while gambling during that session.

When you approach the Roulette table you throw down $100, and your rating/awards card, and ask for a color (color of your chips)  ask to be rated and the pit boss will wonder by and log you in to rate you – it’s important to do that .  You DO NOT throw down $500 and ask for $5 chips – you want $1 chips – this is VERY important as you will learn later.  The other $400 is in your pocket and hopefully will not leave your pocket during that session.  Always get the minimum chip and have a stack of 100 of them in front of you.

If you run out of chips you throw down another $100 and ask for 100 more chips; you do this until you have no $100 bills in your pocket.

No related posts.

This entry was posted in Golden Rules, Reality Check and tagged , , . Bookmark the permalink.

Comments are closed.