Managing Your Bankroll
Managing your bankroll is the key to responsible gambling and enjoying the casino experience to the fullest. Learning some tips on making your money last will prolong your involvement in casino games and mean that you stay well within your means while still having fun.
Calculating the Size of Your Bankroll
An important part of wagering on casino games, whether online or at land-based venues, is knowing how much you can afford to spend on gambling. It is advisable to work out how much money you have free after you have deducted all of your expenses for the month, such as a mortgage, car payments and grocery shopping. Of this amount, you will need to set a limit to your gambling spend that still leaves you with money for other activities and emergencies.
If you are regularly betting beyond your means, but you feel as though you cannot stop, you should take a look at the advice available in the Addiction section.
Dividing Your Bankroll
You may start the month knowing that you have £400 to play on casino games, but that doesn’t mean you should go out and blow it in a single night. Spreading the bankroll over the month will mean that you don’t have three and a half weeks to wait before you return to the tables, slot machines or your favourite online casino.
You could split your £400 into chunks of £100 a week or, if you like to ensure you indulge in a couple of sessions a week, £50 per visit.
You’ll Need a Bigger Bankroll for Slots than Table Games
As a rule, games with a lower house edge pay out more often and, therefore, you won’t need as big a bankroll. Table games tend to have the lowest house edge, with European Roulette standing at 2.7 percent and blackjack at under one percent. However, slots have a much higher house edge, sometimes into double figures, meaning you will usually end up spending more over the course of time.
Of course, you could easily hit a massive seven-figure progressive slots jackpot with your first spin, just as you could endure a terrible run on blackjack that empties your kitty, but checking the house edge of a game will give you a general idea of how big a bankroll you will need.
Play with Your Winnings
It takes a lot of discipline, but if you find yourself with a decent casino win, you could take out your initial deposit and play with just your prize. This keeps that money safe while you have fun with the rest and, even if you find yourself with a subsequent run of bad luck, you’ve not actually lost anything and you have a deposit to put down for another day.
If you go on to win another substantial amount with these winnings, you could even withdraw the deposit amount again and play with the rest, ensuring you end the session up, and with your bankroll boosted for further gaming in the future.
Using this sort of self-control helps to make your bankroll last, and can be seen as an investment in funding future evenings of entertainment.
Only Increase Your Stake When You Are Winning
If you have won a decent amount during a session, you might want to try and increase your stake, which will also increase your winnings if your bets are successful. If that doesn’t work, you can always revert back to normal, safe in the knowledge that you only risked some of the money you had won, not your initial bankroll.
Sometimes gamblers on a bad run try to chase their losses by increasing their bet size. This is an easy way to destroy your bankroll, leaving you with nothing at the end of the night. It is better to stick to your usual limits and even worth taking a break to help gain some perspective before you make rash decisions with your money.
By not managing your bankroll effectively, you could find yourself having to stop playing earlier than you would like, or even spending more cash than you can afford. Having a good strategy for financing your nights out at a casino or your play on a website will make the money you have set aside last as long as possible while you enjoy the thrill of the games.