Every player knows in his heart that his world is ruled by the iron gods of probability. That in the infinite spins of the wheel and rolls of the dice, everything will level out the same. And if you were on the wrong side of the edge, then your doom is as inevitable as fate. However, there is one little demigod in our wild pantheon that most players ignore, namely the standard deviation. This god has other names, swing, volatility but perhaps he is better known for the disguise of him, luck of him. This is the God who brings chaos to the order that probability is trying to establish. When he’s nice, he’s the one who gives the player that avalanche of cards on the poker table or hands to set the dice on fire, for that night the casino is shaking under the weight of being the underdog. But more often than not, he is a jealous god who tramples those mere mortals whose ambition is too fast and too strong.
If you fear this god, you should know that his wrath can be avoided. : P Quite correct to speak of a mad priest. Translated, gambling is a volatile activity and your gaming strategy must be able to adapt to changes in your bankroll. This is important because the game is not just about winning strategies. Your game strategy must also be a survival strategy. You need to find that balance between maximizing your chances of winning and minimizing your chances of bankruptcy. Because losing your funds is death for the player. The solution is to print money. But another good strategy is to use fund management.
A good gambling fund management strategy takes into account that you will face ups and downs. At the simplest level, it is just a matter of sizing your bets according UFA to your bankroll. For the player, his funds are his life points. It keeps you in action.
If you have managed to find a game strategy in which you have an advantage, with a positive expected value. So the worst thing you can do is kill your chances by not having a fund management system in mind. Because even though a strategy may have a positive advantage, there will always be volatility both up and down. If you can’t handle the downswing in the short term, you will never be able to survive in the long term, where your advantage will materialize in real profits. Even if your game of choice is a negative expected value game, good bankroll management will ensure that you get the longest possible session of your bankroll.