Question: I have been reading your newsletter for a while. I am a beginner, sorry if this question is too simple. I do not know what you mean when you talk about units. I know it is about money. How much money? Dez
Answer: Money management is key to success in any game and understanding of units played is essential. This is a very important question.
Unit refers to the minimum bet that your bankroll will support. The unit is your base bet. If you are a $5 player, your base bet or your minimum unit bet would be $5. If you have more confidence and a larger bankroll, your unit bet could be $25.
I recommend a minimum total playing bankroll of 30 units for either blackjack or craps. For a $5 player, $150 would be one playing bankroll. Thirty units will provide the player with two things for sure. Number one, the player has enough capital in front of them to have a fair shot at a game.
Number two, the betting stake of 30 units is a stop loss, protecting the player from getting wiped out in a cold game. I do not recommend that a player play until they have lost their 30 units. My point is, the player should understand they need to finance a game to give their money enough cushion, considering craps is game offering negative win expectations. At the same time, a player should be emotionally prepared to go the distance with their buy-in. I have been in plenty of games, down to my last 5-6 units, when I hit a hand and rolled my way out of the ditch.
Stop loss also goes with discipline to quit when it is not going your way. When I write about units won or lost, I refer to the base unit bet. Example: If I am talking about blackjack and a 12 unit profit, the $5 unit player won $60 and the $25 unit player won $300. The unit is a measurement of money played, won or lost. The player who desires to win more, simply needs to bets more. That is, betting a larger unit supported by the appropriate bankroll. This is the reason that I always speak of units won rather than money won. Thanks for your question Dez.
Ed Jones
