You would probably have seen comments like "If you don’t have funds management skills, you will not win"; or, how about "money management is more crucial than the selection strategy you employ" or "You aren't going to win if you financial management skills aren't up to scratch."

A certain group of gamblers are always raving about the benefits and advantages of managing their money. They think that'money management' will magically transform their shaky method into one that is lucrative.…