Greg Elder on Betting Systems

Chapter 9- Betting Systems and Money Management

Betting systems and money management are sometimes used interchangeably in reference to gambling. When I refer to a betting system, I am talking about a distinct betting pattern. A system of betting would be raising your bet after a win (winning progression) or lowering your bet after a loss (losing progression). Money management, on the other hand, is deciding how much money you are willing to risk in a casino. How much will you wager? When will you cash-out? Will you take out more money if you lose it all? These are all money management questions.

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