Casino Bankroll Management
Having a successful online casino experience isn’t all about knowing the games or applying various strategies to boost your winning chances. Bankroll management plays a crucial role in the process, and few strategies mention it. Especially true for slots and valid for table games as well, good bankroll management and a strategy fit for your budget can make a difference. Find out more about how to manage your bankroll from the following paragraphs. As a bonus, you’ll also learn how to determine what type of player you are and see how to improve your play.
Keep a clear budget for each session
The first step in effective casino bankroll management is thinking things one session at a time. Even before you enter the casino, establish the amount you’re going to deposit and clear loss and win targets. It’s also recommended that you go for one larger deposit from the start rather than making successive smaller deposits after emptying your balance. A larger deposit will give you an extra sense of confidence when placing larger bets than usual, and it’s also easier to make sure you don’t overspend.
Also, once you reached either the loss or profit target you established beforehand, it’s time to get up and cash in your chips. This is especially true in the unfortunate case you end up losing your balance. However, it’s a rule to abide even if you win because you can end up losing it all back if you continue playing beyond your win limit.
Understand what type of player you are
Whether we are talking about everyday gamblers relaxing at home or the local casino, or high-rollers making their living in Vegas or Macau, there are three main types of players. Also, no matter if you’re trying to improve your slots, roulette, or Blackjack bankroll management, knowing your type helps a lot.
As the name suggests, the rookie is the player type that sees gambling as a pastime activity, done for recreation. Setting up a slots bankroll management, or one for any other type of game, is fairly easy for rookies. They often play just one deposit and have a cautious approach anyway since they finance their accounts using the money they earned from working.
The serious player
Taking a step upwards from the rookie stage, a serious player understands that breaks from playing are mandatory to avoid depleting the bankroll. When talking about, for example, roulette bankroll management for a serious player, the discussion is more complex. First of all, he is able to finance his casino sessions through previous winnings besides his salary. This means he can have a more relaxed approach when it comes to playing money that he won in the casino.
Finally, the professional player is one that has spent over 10,00 hours in front of slots, roulette, blackjack, or poker tables. On top of knowing all the game rules by heart and several strategies to improve his odds, the pro is able to make a living strictly from gambling. Since this is their main source of income, pros are well-educated on effectively applying their bankroll management knowledge.
The 10% Rule
One of the most effective casino bankroll management rules is borrowed from poker and it’s pretty straightforward. If you’re playing blackjack, or roulette, you should never place a bet higher than 10% of your available balance. So, if you have €100 to play with, your maximum bet becomes €10. The 10% becomes 1% when referring to slots bankroll management. Since, statistically, you’re going to place more bets before a win occurs, your max bet on slots should be lower than table games. Also, there’s the slot volatility to take into consideration as well.
Pick a table or slot that suits your playstyle
One final piece of advice to help with your bankroll management is to always play a casino game that feels comfortable while playing. For example, if you’re still at the beginning and need more time to place bets in roulette, don’t choose a fast-paced one or a live dealer version (if you’re playing online). The same applies for slots, if you start with a low budget, it’s better to stay away from high volatility slots. They’re notorious for requiring many dead spins before awarding a high payout. And, no matter how low you bet, your budget may not be enough to reach that win.