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Money Management
We’ve finally arrived at the final installment of our Blackjack terms series. We’re about to bring it all together. It’s been a fun ride. Once you finish this series, consider yourself a Blackjack terms expert. Let’s go.
Session – This term is used most when talking about money management. A session is a period of time spent gambling.
Shill – These guys are casino employees. To facilitate action, a shill will go up to a table-usually an empty one-and play. The idea is that if you’re walking around and see action, you’ll play. Shills are more likely to be used at a Craps table, because not many people like being the only player in Craps.
Soft Hand – This is any hand where an Ace is being used as an 11.
Stand – When you’re happy with your hand, you can stand, which ends your turn.
Surrender – Some casinos allow you to surrender. When you surrender, you throw in your hand and get half your wager back. A common surrender situation is when you have a hard 16 and the dealer has a face card showing.
Third Base – It’s the opposite of first base. Third base is the last seat to get cards. If the table is full, it will be the seat immediately to the dealer’s right hand.
Toke – Also called a tip. Dealers work for tips, so they love players who tip them. One common way to tip in Blackjack is to place a bet for the dealer. You do this by placing your tip bet above your wager on the layout. Let the dealer know it’s for him/her, so they can make sure the placement is right. This is a good way to get the dealer to root for you.
True Count – It’s another card counting term. When there are multiple decks, you take the running count and divide it by the number of decks being used. This gives you a more accurate picture.
Up Card – The dealer gets two cards in Blackjack to start with. The Up Card is the card that you can see. The bottom one you can’t see is called a hole card.
Unit – A measurement of betting. For instance, a unit could be $5, $10, $1 or whatever.
Vig – This is the money that goes to the house. A popular vig in sports betting, for example, is 10%.
Whale – This is the big-time player-the high roller. Casinos-and dealers-love to see a whale coming. It usually means there’s a chance for a nice payday.
And there you have it. We’ve come to the end of our Blackjack terms series. Do you feel like a Blackjack terms expert now? We’ve covered a lot of ground in this series.
Good luck at the tables!
Tags: Ace, Bet, Blackjack, Cards, Casinos, Craps Table, Decks, Face Card, Hole Card, Money Management, Shill, Shills, Wager
Categories: Blackjack, Card Games
From “Action” to “Color Up,” we’re going to go over a bunch of Blackjack and casino terms in part one of our Blackjack terms series today. I’ve spent some time coming up with a listing of fun terms I think you’ll want to know. They’re listed in alphabetical order, so scroll around if you want.
Action – It means almost what you think. When a bet is “live” it has action. This term is commonly used when someone puts actual cash in the betting area.
Back Counting – A back counter is someone who isn’t sitting at the table and who is counting the cards. An example would be two friends that walk up to play. One sits down and the other stands around the table.
Bankroll – Ah, this one is a classic. A bankroll is the amount of money you have to gamble with. It’s the key ingredient in money management and the better you are at managing a bankroll, the better off you are. A bankroll can be for a session of gambling, a calendar month, a season in sports or whatever other time term you want.
Bar – No, not the kind that serves you drinks. If you get barred, you’re out of luck. A barred player is one who gets removed from the casino for good. It’s also called “being 86ed.”
Basic Strategy – In Blackjack, this is your garden-variety strategy that’s designed to help you have a good time and stay in the game.
Blackjack – This is the game we’re talking about. If you don’t know how to play, check out the quick-start Blackjack guide on this site.
Burn Card – After the deck is shuffled and cut, the first card is “burned,” which means it is discarded. This is an old anti-cheat mechanism and it’s still used today in brick and mortar casinos.
Bust – When your card count in Blackjack goes over 21, you’ve busted. When you bust, you lose. Ideally, you hope this happens to the dealer often and not you.
Card Counting – It’s a strategy to try and figure out what type of cards are left in the deck. Players who employ this strategy will bet bigger when the remaining cards in the deck are larger and bet less when the remaining cards in the deck are smaller. There are many card counting techniques and we talk about card counting in Blackjack more on this site.
Cold Deck – Cold deck is the same thing as a cold table in Craps. It just means that the deck sucks for players. If you’re counting, you know when the deck is cold, because it’s overloaded with smaller cards.
Color Up – When you’re ready to leave the table, you can color up. Let’s say that you have 20 red chips ($100), you could color up for one black chip. Casinos try to color up players, because it keeps them from having to constantly fill tables with extra chips. As a player, it’s easier to walk around with fewer chips.
We’ll be back in part two of our Blackjack terms series with “Comp.”
Tags: Amount Of Money, Bet, Blackjack, Blackjack 21, Blackjack Casino, Blackjack Guide, Cards, Casino Terms, Casinos, Game Blackjack, Money Management
Categories: Blackjack, Card Games
Are you ready to lose all of your money? Of course not. And that’s why money management is so important. So, what’s this alien phrase “money management” anyway? In today’s article, I will get you started down the golden road of managing your money and time better for more casino profits.
The Primer
Before you run for the hills, let me calm you. I won’t be going into serious financial detail in this article. The idea is to explain what money management is and to give you some food for thought. Yes, the field of money management goes well beyond the simple stuff that we’ll talk about today, but let’s save that for later.
In layman’s terms, money management simply means keeping track of what you’re doing and what you planned to do at a casino. It’s like when you go to the grocery store with an idea in mind of how much you want to or can spend and perhaps, to some degree, what you want to accomplish while there.
Set Aside Money
Before engaging in any gaming entertainment you should set aside an amount of money for your fun. This is the maximum amount of money you’re willing to spend. If the moment comes when it’s gone, you’re done.
When you set aside money like this, it’s traditionally called a bankroll. Ideally, your bankroll should be for just gambling and not other activities, such as eating, seeing movies, and so forth.
Betting Within Limits
Now that you have your bankroll, you can clearly see-at any time-how much money you have to play with. Using this new insight, you can bet appropriately.
If your bankroll is $100, you wouldn’t want to walk up to the Blackjack table and play $25 hands. There’s no hard and fast rule for bet sizing off a bankroll. I think you need to think about how long you want to try and play for. If you had $100 and just wanted to play for 5-10 minutes, then maybe $25 hands is fine.
For the typical player that’s looking for up to a couple hours of fun, try to divide your bankroll by 20 for table games. So, if you have a $100 bankroll, bet $5 per hand. As your bankroll increases, bet more if you wish.
The Overall Goal
Managing your money in this fashion will help you enjoy your experience more and you’ll be more fiscally responsible. Most people who walk away big losers do so because they didn’t know when to stop.
By setting your bankroll ahead of time, you know when to stop. And if you want to go further, you can initiate a stop loss on your money. Confused by this? We’ll go deeper into money management in other articles.
Just remember this. Every professional gambler in the world knows about money management and uses it to some degree. Even if you only gamble once in a blue moon, it’s good for you to at least know the basics.
Tags: Bet, Blackjack, Blackjack Table, Casino Profits, Gaming Entertainment, Managing Money, Managing Your Money, Money Management, Table Games
Categories: Strategies
From the name of the game itself to a Tie bet, we are going to cover some general baccarat terms to get you started and sounding like a pro, whatever your experience.
Baccarat or Baccara – basically this means “zero” and refers to the value of face and 10 cards during play. The aim of the game is to get a hand which totals 9, or at least get closer than the dealer.
Bank Bet – this bet bets against the player, in favour of the bank.
Banker – the banker can be a player or the dealer. How refreshing! It is the name given to the person who deals the cards and monitor the table. OK, so it’s usually the dealer, but some casinos are generous!
Bankroll – this is the same as always; the amount of money to be gambled with. The bit that you want to grow.
Basic Strategy – all games have a basic strategy that suggests when to stand or take another card. The idea is that if followed strictly, it will provide the best possible return. Don’t forget the money management side though!
Croupier – the name of the person with the grand job of being in charge of the Baccarat table. There are variations; the croupier doesn’t deal in American baccarat, unlike with mini and online versions.
Dealer – obviously the person who deal the cards but in mini and online baccarat, this job falls to the croupier. In American baccarat it is the banker that deals the cards, with secondary dealers at the ends of the table handling the bets.
Face Card – important cards in any game. Jacks, Queens and Kings all have a value of zero and enable a strong hand including a natural.
Ladderman – only found in live casinos but a cool name and job! The person that oversees the baccarat game from a chair that sits above the table.
Loss Bet – a bet which bets against the bank. So a player bet would be a loss bet as it needs the bank to lose.
Mini-baccarat – A miniature version of the game with a smaller table and fewer seats. Much more up close and personal.
Natural – the best possible hand which totals 8 or 9 and is dealt immediately.
Player Bet – this bets against the banker, in the player´s favour.
Push – a different name for a tie between the player and the dealer: the player’s stake is returned. So if both got a total of 7, the player doesn’t lose out. Bets on the dealer or player lose, but a tie bet will pay out.
Tie Bet – a bet that predicts the player and the dealer will get the same result. More popular than you might first imagine.
Tags: Baccara, Baccarat Game, Baccarat Table, Bet, Bets, Croupier, Ladderman, Mini Baccarat, Money Management, Online Baccarat, Strong Hand
Categories: Baccarat
Do you know what one common element is that links all successful gamblers? The answer is money management. Every successful gambler that wins consistently knows how to manage their money. This article won’t go into painstaking detail of all the ins and outs of money management. Rather, we will talk about how to manage your money for one playing session. This is where it all begins. Knowing how to manage your money for one playing session will allow you to have more fun and ride through the low periods.
The first step is to figure out how much you have to work with. This is the maximum amount of money you are prepared to lose. For our examples, we will say that this amount is $200. What follows are directions for common games like Craps, Roulette, Baccarat, Blackjack and so on. Managing your money for slots, poker and video poker is a little different. However, you can get a basic idea of how it works. The goal of session management is to give us a chance to win by having enough funds to ride through the losing periods.
In general, you want to have at least 20 bets in your bankroll. If you want to be really safe, go up to 40. If we divide our $200 session bankroll by 20, we have $10 units. The unit is the maximum amount that can be bet per betting instance. For example, you could be $10 per hand in Blackjack or Baccarat. In Craps, you could wager up to $10 per point. In Roulette, you have up to $10 per spin. Actually, I recommend going to 40-50 bets in Roulette since it’s a rough game.
Now that we know how much we can bet per betting instance, it’s time for the action. If you are into Blackjack, you could run off to any table up to $10 minimums. However, I recommend playing at tables that are half of your maximum bet. This will give you betting flexibility. For instance, let’s say you run to a $10 Blackjack table and start losing. You have no way to scale back your wager. You always want to give yourself the ability to scale your wager to the circumstances.
As the playing session progresses, you have two options. First, you could simply stick to your original betting unit ($10 in this case) or you can use a running count and adjust your betting as your bankroll goes up and down. For instance, let’s say you started out like gangbusters at Blackjack and your bankroll is now $300. You could keep betting up to your original $10 limit, or you could revise your limits and go up to $15. In the end, having good session management of your bankroll will allow you to have more fun and keep you from making wild and costly wagers.
Tags: Bet, Bets, Blackjack, Blackjack Table, Gambler, Gamblers, How To Manage Your Money, Managing Your Money, Money Management, Session Management, Slots, Slots Poker, Video Poker
Categories: Strategies
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