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Managing Your Vacation Bankroll

An Easy Way to Manage your Money

by Bill Burton
for About.com

The most important rule to remember is never bring all of the money you allocated for the entire trip to the casino with you. The way you handle your "Vacation Bankroll" can make the difference between coming home a winner or a loser. If you are planning a trip to a gambling destination there is a little plan you can follow to help you avoid losing control.

Before you leave for vacation decide exactly how much money you will spend for gambling. This is going to be separate from your other spending money. This must be money that you can afford to lose. If you need this money for something else don't take it to gamble with. This is your gambling Bankroll. You will use only this money for playing. Now divide this money by the number of days you will be there. This is your daily Bankroll. You will not gamble with any money other than that day's Bankroll.

Here is an easy way to do this. It sounds simple and some of you will scoff at the idea as being almost juvenile but it works. I was given this advice the very first time I visited Las Vegas it works. In all my trips to Las Vegas, I have never come home without some of my money. Here is an example of what you will do

. Let’s say you decide you have $200 that you will allocate for gambling. You are going to be there for four days. You divide the $200 by four and you have a daily bankroll of $50. Now get four envelopes. Put each day’s bankroll in a separate envelope. At the beginning of each day you will take the money out of that day's envelope.

You keep this separate from your other money. Divide this into the sessions you want to play for the day. Don't use it all in one sitting. At the end of the day, take all the day's Bankroll including any winnings and put it in the envelope. Seal it and don't touch it again. The next day you start with the envelope for that day.

If you can do this, you will more than likely bring home money. If you have a couple of winning days and a couple losing days, it’s possible that the wins will offset the losses. That is why you seal up all the money. It takes discipline to do this and not open the envelope but you will be happy you did once you return home.

Have fun and enjoy your vacation. I hope you come home a winner!

Until next time, remember:{
"Luck comes and goes...Knowledge stays forever."

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