Never Gamble With Money You Can’t Afford To Lose.
The most important rule of gambling is Never Gamble With Money You Cannot Afford To Lose. Winning at video poker is not a short term investment. Don’t use money that you should be spending on food or rent. Instead take your gambling money out of your free spending money. Maybe set aside a fixed amount each week or month and keep it separate from the rest of your money.
What Money Management Isn’t.
Money management isn’t about about changing the amount you bet based on past results or false probability. If this weeks lottery numbers were 1, 7, 15, 33, 40, 45, then instinctively you may believe that next weeks numbers are less likely to be the same than any other combination. In reality the the chances of these numbers coming up again are the same as they always were and always will be.
This is also true of video poker probability. If you have a Royal Flush with one hand e chances of getting one with the next hand are just the same as ever. So money management is not about quitting while you are ahead. The reverse is also true. If you are getting a run of bad hands, money management is not about reducing the size of your bets. If you do this you may hit upon a good hand and as you have invested less than normal you will not get the profits needed to pay for your losses.
How Big A Bank Roll Do I Need?
There are complicated mathematical calculations for working out the size of bankroll needed to statistically avoid going bust before hitting a good hand. These calculations however are beyond the scope of this article.
Bob Dancer, the author of Million Dollar Video Poker, recommends using the 3 to 5 rule. This rule states that to have a good statistical chance of being able to play and hit a big hand before you go bankrupt, you need a bankroll that is 3 to 5 times the pay out for a Royal Flush.
Know The Rules Of The Game.
It may sound obvious, but before you invest any of your own money in a ga