Luck aside, the biggest factor governing consistent wins at any online casino is proper bankroll management. This involves managing your gambling money so well that losses are quite affordable, rather than leaving you bankrupt.
The Need For Bankroll Management in Online Casino
Bankroll management refers to the process whereby bettors bet only with a predetermined percentage of their funds. This means that online casino bettors place affordable bets that amount to 5% to 10% of their bankroll, rather than committing half and seeing it go with the wind when the bet does not pan out. This way, the risks are spread and bettors are able to retain enough to gamble another day.
With astute bankroll management in an online casino, players can play with less risk and for longer periods, gamble smarter, and plan better. They can also possibly enjoy banking fees that are much lower, as money is kept in the account, rather than being frequently withdrawn and deposited in a machine gun manner.
The Basics Of Bankroll Management
Proper bankroll management is simple in both execution and practice. To begin, players simply have to set aside a portion of their funds and then resolutely gamble only with it without dipping into any other. 5% to 10% of funds is generally held to be a reasonable percentage for bettors to gamble with. When this is lost, bettors should be wise enough to step away and come back another day, rather than angrily proceeding to chase their lost bet with the remainder of their funds.
Players can as well use bankroll management to micro-manage their funds and adapt their bet sizes depending on how much they are losing or winning. Thus, supposing ₤100 was set aside for gambling at blackjack, the money is enough to play a minimum of 30 hands. Bettors should, therefore, stake around ₤3 per hand.
Should a losing streak occur and the bankroll shrinks to ₤50, the bet size should be reduced to ₤1.50. On the other hand, if the player record wins that boosts the bankroll to ₤150, then the bet size can be boosted to ₤5 per hand.
Apart from deciding on how much to stake, players should also keep in mind how much spins, rounds and games that should be left in reserve. This normally varies according to the game being played. Thus, games with low variance such as blackjack boast regular but low wins, while most slots have high variance and thus high wins that come less often.
Thus, the bigger the variance the more turns are needed. From this one can infer that players with a bankroll of ₤100 should play blackjack at ₤3 per hand. This should, however, be reduced to ₤1 when playing slots.
An important aspect of bankroll management requires online casino players to never play with money they cannot afford. This refers to money set aside for rent, utilities, food and what not. When this provision is violated, such bettors frequently have a problem and might need to seek professional help.
Bankroll Management Tips
Here are a few more tips about bankroll management in an online casino that are easy to remember and digestible:
-Losses happen. It’s not the end of the world.
-Keep calm and be emotionless when playing.
-There are no easy wins that will magically bulk up the bankroll. In fact, enhancing your bankroll times time and effort.
-Have a betting limit and keep to it no matter what.
-Keep careful records of all wins and losses to let you know how well or otherwise you are doing and if it is necessary to change your strategy.
-Resist all temptations to the contrary and guard your deposit. Once you have recorded some wins, it might be necessary to withdraw a portion of it, so that you might not be suddenly tempted to gamble away all that’s in your account.
-Keep a balanced view of casino bonuses and promos. While these are often mouth-watering, they do come with certain requirements that must be fulfilled before any wins can be claimed. If you are not in a position to meet these requirements, then don’t waste your time participating in such bonuses.
Proper bankroll management makes for lengthy and frequently profitable gameplay sessions. It also boosts the skill level and character of players, as well as their enjoyability of the game.