Money management in Blackjack

Ever hear the term Money Management? You bet your sweet life you have!
Ever practice Money Management? You bet your sweet life you haven't!
Money Management in Blackjack is third of the four indispensable steps toward the ultimate goal: Consistent winning.

Money Management! Everybody I speak to about blackjack gambling, asks about it. They are aware of its importance in gambling, yet never acquire a proper method of managing their money.

Money Management is the spoon that stirs the soup that makes the meal complete. It ties together all of the loose ends of blackjack gambling, mixes them to a fine point and produces the end result.
I have already explained the part played by your Bankroll . You must have it just to walk into the casino. That is the first step.

Next, I gave you Knowledge of the Blackjack Game . What moves do you make at the blackjack table to increase your chances of winning? I taught you the best percentage move on every possible hand that can be dealt. Without this knowledge, you are wasting your time, because even with a heavy starting bankroll, the vigorish will eat away at your money with each high percentage mistake!

A bankroll allows you to play. The knowledge allows you to play smart. What does money management do for you?

That's easy. It provides you with the correct plan for handling your bankroll. It is like a computer program every move you make concerning money is predetermined.

With Knowledge of the Game there are many instances where theory becomes a big part of a decision, especially with hands that can be affected by the richness or poorness of a deck. For instance two strong blackjack players can have different theories about doubling down with a 5 3 (eight) against the dealer's up card of 5. The percentage difference between doubling and not doubling is very close, and changes after the completion of each hand. So, valid theories among experienced players can vary.

Not so with money management. Your bankroll determines the amount you bet. And you must decide beforehand a win and loss percentage to tell you exactly when to leave a table.

If you can't manage your money, and refuse to learn how, you'll have absolutely no direction in a casino. You'll have no goal set for yourself; no idea of when to quit a blackjack table or even when to leave the casino for the day.