While most casino players will deposit, play, win/lose and repeat, others will talk about their bankroll management. If you have never heard this term, do not worry. Not everyone has. We are here to explain you what it consists in, and how you can apply it to your online casino sessions.
What is bankroll management?
First of all, what you have to know is that your bankroll is the amount of money you dedicate to playing casino. This amount of money will vary from one player to another. To make the most of it, and not end up being broke, you can try to apply bankroll management techniques. This term comes from poker and refers to your ability to properly manage your money.
The main rule of bankroll management is to gamble according to your bankroll size, to try to fight the variance. We will come back to this point later.
Is there such as thing as online casino bankroll management?
Of course, you know very well that casino is all about luck and is 100% random. But it does not mean that you can not apply bankroll management techniques to it.
Disclaimer: the tips we are sharing with you today are not magic formulas to make you win every single time. They are only ways to gamble smart and to not burn your bankroll too fast.
How big should my bankroll be?
There is no perfect bankroll size. Of course, the bigger your bankroll, the higher bets you can afford to make, but you can have fun with €0,20 bets. It is entirely up to you to define the budget you want to dedicate to playing casino. Whether this is a weekly or monthly budget, do your best to never exceed it. This is the first step to a good bankroll management.
We have gathered 5 tips that will help you manage your bankroll properly. Find them just below.
Only play money you can afford to lose
This is the first and most important advice we can give you: do not play online casino or any other gambling game if you can not afford it. Casino should never be seen as a sure way to make money. It should only be a hobby for you, like going to the restaurant or the cinema. Winning is always nice and exciting, but know that there is no sure way to win every time.
If you don’t have much money to play, either consider not depositing and look at our no deposit bonuses, or only make small deposits just to have some fun.
Don’t chase your losses
This second tip is also very important, although it can be hard to respect sometimes. When one of your casino session ends up in a loss, do not make another deposit straight away. Trying to chase your losses will only end up in you losing even more.
Why? Because most of the times, when you chase your losses you will take more risks and play more volatile/aggressive. You will place higher bets, or even want to go all-in on Blackjack tables. While it can work sometimes (rarely), most of the times you will just end up losing this second deposit even faster.
We will say it again: do not chase your losses. If you could afford to lose the money you lost, then you do not need to get it back. This session was unlucky, and your next one may be better. See each casino session individually. When casino stops being fun, just take a break.
Size your bets according to your balance
This third tip is also very important and should not be taken lightly. Always size your bets according to the balance you have on the casino. It will allow you to play longer, do more spins on the slot machines, thus having more chances to unlock the so coveted free spins feature.
If you have a small starting balance, we strongly advise you to start with low bets. You will raise your bets when your balance goes up. For example, with a starting balance of €100, go for minimal bets (€0,10 / €0,20) on slot machines if you want your session to last longer.
Of course, you can very well choose to play aggressive and to bet between €0,50 and €1 but with a starting balance of €100 it is very risky. You might end up losing fast if you don’t hit any special feature or bonus free spins.
Withdraw small regular amounts
You play online casino on a regular basis but you never manage to withdraw on any of your sessions? Have you tried to ask yourself why? Most of the times, it’s because players tend to keep on playing hoping for a huge hit, and end up losing at the end.
To prevent this from happening on a regular basis, what you can do is ask for a withdrawal as soon as you are higher than your starting balance. Let’s say you start at €100. As soon as you get to €150, withdraw €50 and keep playing with the rest. You will see it can be a really useful tip if you apply it during your sessions. Some times, you will at least get your deposit back, and just play with your winnings.
Bankroll management is about setting limits
Whenever you are playing casino, always set yourself limits so you know clearly when to stop gambling. Don’t forget that it’s not because you had two great bonuses in a row that you will keep getting more. Setting low and/or high limits to your balance is the best way to play with a goal and to stop before it’s too late.
Let’s say you started with a €100 balance and you managed to get up to €400. The smart thing to do would be to withdraw at least €200 and keep playing with the remaining €200. If you don’t want to do this, another option is to keep playing but to stop as soon as your balance reached the limit you have chosen.
For example, you can tell yourself you will stop gambling if you get up to €700 or if you fall down to €300. It’s better to win “only” €200 than to lose everything, don’t you think?
While bankroll management is a term which comes from poker, it can also be applied to online casino. Maybe you already apply some of the tips we are about to give you without knowing it helps you manage your bankroll.
Madness Bonus is giving you 5 tips to take care of your online casino bankroll.