When planning your trip to Las Vegas, or Atlantic City, or whatever your favorite gambling spot might be, there are several things you need to take into consideration.
Transportation, hotel accommodations, food, entertainment and recreation (other than gambling), amount of time you will be spending in the casino and your required bankroll for gambling.
Keep in mind; just because you put some of this on a credit card, it is still an expense.
If you have a favorite casino you frequent several times a year you probably have a player’s card and have earned free comps for room, food, etc, so that part of the trip won’t be an out of pocket expense.
If you are planning a weekend getaway for two, your expenses might be as follows;
Air Transportation $500, car rental $150, hotel accommodations $300, meals $250, round of golf $100, show $100, and gambling bankroll $1500, so the cost of your trip would be $2900.
Now obviously these dollar amounts can be higher or lower depending on comps you might receive, how far away you are, whether you are flying or driving, where you are staying, what you do while you are there, and amount of time you will be gambling.
By listing your expenses on a sheet of paper you get a good idea of what the trip will cost, if this is not within your budget, then either adjust your plan (as to hotel, recreations, gambling bankroll, etc) to an amount you are comfortable with or don’t make the trip this time, go another day. However, if this is within your budget, then go for it and have a great time.
You have probably noticed that I have listed the $1500 gambling bankroll as an expense, the reason is; that is exactly what it is, an expense. Now it is a variable expense, you might only lose $500, or you might win $1000, in either case that simply means your trip cost you less. If you lose $500, then the $2900 trip only cost you $1900, if you win $1000, then the $2900 trip only cost you $400, and even if you lose the entire $1500 that just means your $2900 trip cost you $2900.
One last thing unless you are extremely disciplined, I also recommend leaving your ATM card at home, the one thing you NEVER want to do is exceed your planned budgeted amount…in another words DON’T get more cash to gamble with, you planned on $1500, then STOP at $1500.
Know your play. Know your way.