Knowing When To Quit
Today I want to talk about the most difficult money management principle to follow: DAILY DEPARTURE. Well, for me it’s the most difficult because I go to the casino to gamble. Nothing infuriates me more than stopping my play early, especially when I traveled 2 or 3 hours to get to the casino. But we all know, and yes I know too, that we can’t just play out our buy-in without any stop-loss rules. We must have some way of preserving our bankroll from session to session. Daily departure is that way and sometimes you just have to take the medicine and leave, knowing you still have the money to return another day.
But now I would like to make two additions to our daily departure rules that will give us more playing time and from my experience will not jeopardize your bankroll. The first: I suggest using the principle of the salvage bet in all the games. Whether it is craps, baccarat or blackjack, once you are down half a buy-in and come back to within 2 or 3 units of even, you will quit after your first losing able or bet. This certainly allow you greater playing time in craps and prevents those big fluctuations in baccarat.
Second, if I fail to connect on my big bet 2 or 3 times during a session, I stop after my next losing table if I am up a little or even. This rule can be applied to craps, blackjack or baccarat.
Remember the article I wrote,“Once A Night”? How many times in a session do you think you will even get that third level bet on the table? If you fail to cash in on a big bet when you have it up there, this is an indication to me to leave. Play another table but if you then lose, and are up a little or even, you are better off calling it quits.
The same daily departure can be applied to baccarat or blackjack if you fail to make the big bet. Again, knowing when to quit is always difficult, but knowing you can come back to play another day is a whole lot better. Till next time.