Casino Bankroll Management
Having a sound money management system is the difference between blowing all your money
the first day at the casinos, or having enough money to pull you through to the second and third days of
your gambling session. Good casino money / bankroll management can apply to traditional, land-based casinos
or online gambling – the principles are the same. We have outlined some of the more classic tips to
help you manage your bankroll properly and see to it that you have enough left over for future gambling
sessions. Remember, before playing at an online casino you should seek out the best online casino bonus available on the internet - Casino
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How Much?
Gambling is a lot of fun, but you need to go about it with in a rational and calculated manner. The most important decision to make before betting that first dollar is to take a realistic look at your finances and decide how much you can really afford to spend. You need to be totally honest with the numbers because you will be the first one to suffer if you suddenly realize that you’ve blown your rent or insurance money, thinking that you might double the amount at the casinos. Never bet with money that is intended for another purpose and it goes without saying that you should never wager with money that doesn’t belong to you.
Divide and Conquer
Whether you are taking a weeklong gambling trip to Vegas, or planning a three-day poker room binge online, you need to remember this golden tip: Never, ever take your entire bankroll with you to one session. On your first day, decide how much money you have to spend in the WHOLE session and then divide that number by the amount of days that you want to spend gambling. If you are a regular online casino gambler, decide how many gambling sessions you have per month (once a day? once a week?) and divide your bankroll by that number of sessions. Never bet your next day’s (or week’s) bankroll today!
Set Aside your Winnings
Before you get down to your gambling session, decide how much you are aiming to win in a single session. An average aim should range between 50% and 100%. Once you’ve decided on a number, start playing and continue until you have reached your goal. Once this happens, you should set aside your initial bankroll plus half of the winnings. You are now free to play with what is left of the winnings. In this way, you can steadily build up your bankroll without risking it too much.
Don’t Chase Losses
The worst thing that you can do for your bankroll is to increase your wager amounts when you are losing, in the hope that you will be able to regain some of your losses. Either stick to the minimum wagers available at the table or cut your losses and quit. You can always come back another time when luck is on your side.
Progressive Betting Methods
Although many wagering methods are considered snake’s oil, one that seems to work in protecting your bankroll in the long run is known as a progressive betting system. Essentially, you decide that, after the second or third win, you will progressively increase your winning bets by – for example – 50% and continue sticking to that number. If you are on a losing streak, you simply play the table minimum.
Choose your Games Wisely
There is no reason in the world why you should play casino games that have high house edges, especially since there is no lack of choices available in the gambling industry today. Pick games that have less than a 2% house edge and only pick higher than that for a tiny percentage of your total bankroll, if you really have to. Get to know the odds and probabilities of all the games that you are interested in playing and make smart consumer choices. Also, remember to shop around for the best welcome bonuses to ensure that you stretch your bankroll as far as you possibly can.
Avoid Temptation
If you’re gambling at a traditional casino, avoid the temptation of ‘swiping the plastic’ by leaving your credit card at home or in your hotel room. This is obviously more difficult to do when you are gambling online but the idea is the same. Keep the temptation at bay by paying in cash or making one-time deposits and sticking to your decision not to make any more for a predetermined length of time.
Practice Discipline
A successful gambler does not pend his or her success on luck alone. A more important factor is that of discipline. A disciplined gambler will know when to stop and will have the backbone to walk away from any situation, without getting caught up in the moment. Discipline can also apply to the time spent at a casino session, as well as having control over emotions.
Conclusion
A good casino bankroll management system will not change your luck at the casino, nor will it alter the house edge. However, it will go a long way in helping you protect your winnings and minimize your losses at the casino and this is half the battle won!
How Much?
Gambling is a lot of fun, but you need to go about it with in a rational and calculated manner. The most important decision to make before betting that first dollar is to take a realistic look at your finances and decide how much you can really afford to spend. You need to be totally honest with the numbers because you will be the first one to suffer if you suddenly realize that you’ve blown your rent or insurance money, thinking that you might double the amount at the casinos. Never bet with money that is intended for another purpose and it goes without saying that you should never wager with money that doesn’t belong to you.
Divide and Conquer
Whether you are taking a weeklong gambling trip to Vegas, or planning a three-day poker room binge online, you need to remember this golden tip: Never, ever take your entire bankroll with you to one session. On your first day, decide how much money you have to spend in the WHOLE session and then divide that number by the amount of days that you want to spend gambling. If you are a regular online casino gambler, decide how many gambling sessions you have per month (once a day? once a week?) and divide your bankroll by that number of sessions. Never bet your next day’s (or week’s) bankroll today!
Set Aside your Winnings
Before you get down to your gambling session, decide how much you are aiming to win in a single session. An average aim should range between 50% and 100%. Once you’ve decided on a number, start playing and continue until you have reached your goal. Once this happens, you should set aside your initial bankroll plus half of the winnings. You are now free to play with what is left of the winnings. In this way, you can steadily build up your bankroll without risking it too much.
Don’t Chase Losses
The worst thing that you can do for your bankroll is to increase your wager amounts when you are losing, in the hope that you will be able to regain some of your losses. Either stick to the minimum wagers available at the table or cut your losses and quit. You can always come back another time when luck is on your side.
Progressive Betting Methods
Although many wagering methods are considered snake’s oil, one that seems to work in protecting your bankroll in the long run is known as a progressive betting system. Essentially, you decide that, after the second or third win, you will progressively increase your winning bets by – for example – 50% and continue sticking to that number. If you are on a losing streak, you simply play the table minimum.
Choose your Games Wisely
There is no reason in the world why you should play casino games that have high house edges, especially since there is no lack of choices available in the gambling industry today. Pick games that have less than a 2% house edge and only pick higher than that for a tiny percentage of your total bankroll, if you really have to. Get to know the odds and probabilities of all the games that you are interested in playing and make smart consumer choices. Also, remember to shop around for the best welcome bonuses to ensure that you stretch your bankroll as far as you possibly can.
Avoid Temptation
If you’re gambling at a traditional casino, avoid the temptation of ‘swiping the plastic’ by leaving your credit card at home or in your hotel room. This is obviously more difficult to do when you are gambling online but the idea is the same. Keep the temptation at bay by paying in cash or making one-time deposits and sticking to your decision not to make any more for a predetermined length of time.
Practice Discipline
A successful gambler does not pend his or her success on luck alone. A more important factor is that of discipline. A disciplined gambler will know when to stop and will have the backbone to walk away from any situation, without getting caught up in the moment. Discipline can also apply to the time spent at a casino session, as well as having control over emotions.
Conclusion
A good casino bankroll management system will not change your luck at the casino, nor will it alter the house edge. However, it will go a long way in helping you protect your winnings and minimize your losses at the casino and this is half the battle won!