The single most important skill any gambler can possess has nothing to do with the games themselves.

Without a solid financial plan, even the luckiest winning streak will eventually turn into a devastating loss.

Setting Up Your Initial Bankroll

Your bankroll should be an amount of money you are completely comfortable losing forever.

Divide your total funds into 5 or 10 smaller portions to ensure one bad night doesn’t ruin your entire trip.

• Use the ‘envelope system’ in Vegas: put daily cash allowances into separate envelopes
• Adjust your stakes downwards if your bankroll takes a significant hit
• Discipline is the key; the math of the game means nothing if you cannot control your spending

Understanding Bet Sizing and Variance

A common mistake beginners make is betting way too much relative to the size of their stack.

For table games like blackjack, professional players recommend betting no more than 1% to 2% of your total bankroll.

In the casino, discipline and money management always trump luck in the long run.