If you play in an online casino, you don't want to just throw your money out the window, but of course you also hope for corresponding winnings. These do not always come, because gambling can always mean playing with fire. But not everything is pure chance. What distinguishes amateur from professional players is not just a lucky hand or the blessing of Fortuna, but skillful and clever bankroll management.
In a nutshell: Professional players don't just throw money around in the online casino, but try to invest sensibly and with a plan. Only if you have your finances under control, success can be achieved in the long run. At the very least, good bankroll management can help minimize losses.
What is Bankroll Management?
- Choosing a good casino
- Have your own account for casino activities
- Play with fixed limits
- Play with plan and strategy
- Discipline is the key
Especially for beginners, the term bankroll management can sound a bit cryptic. However, it is actually just a term that has existed in poker before and ultimately refers only to the financing of the game.
In short, it is the question of how you should handle your money in the online casino. The term management already indicates that everything should be connected with a fixed plan and not simply set from the gut.
A successful bankroll management deals with the question of where the money comes from and where exactly it goes.
1.) Choosing a good casino
At the end of the day, the games are offered in online casinos, accordingly you are dependent on a good offer. This simply means that you should pay close attention to which provider you place your bets with, after all, you have nothing to give away. The range can be very large, because there are casinos that are solid, others not at all recommended and still others have above-average offers. (Casino comparison overview )
Ultimately, this can be measured by two factors related to your bankroll management.
- Once it is the average payout ratio of the casino,
- beyond that, the offer of bonus opportunities.
This applies on the one hand to New customer bonus but also for regular bonuses. If every now and then a bonus accrues that can be used to good turnover rates, this increases your bankroll – you simply have more money available.
When it comes to payout ratios: The higher they are, the better. There are empirical values for this on the Internet, which can also apply to games. In addition, the average payout ratios can also be viewed for many slot machines. The higher the probability of payouts, the better.
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2.) Own account for casino activities
One thing is particularly important in connection with bankroll management: The money for the online casino is not the money you need for your life and other expenses.
So you have a certain amount of money available in the month, from which, for example, rent, electricity and other costs are deducted first. For playing at the online casino, you need to see how much money you can raise for it and plan that as a fixed amount, beyond which you also do not go.
For example, you have 100$ a month at your disposal to make bets in the casino with it. This 100$ is then fixed for the time being. To make it much easier for yourself, having your own account for casino activities can help.
In this way, on the own account is only the money that is actually intended for playing. Of course, here is also the question of how high your budget is and from when such an account can be worthwhile. Modern online payment services such as Paypal or Skrill can be used for this purpose without having to create a new bank account directly. This can also be the case for smaller amounts.
3.) Play with fixed limits
Knowing your limits is not only a well-intentioned advice for teenagers and children, but also a fixed winning strategy in the online casino. The limit is the essential building block in bankroll management, which decides about controlled gambling or breakneck spending and losses. There is the latter if you just play. Of course, you can do that if you only play with small stakes and also have limited profit intentions.
But if you want to play regularly in the online casino without running the risk of gambling away house and home, a limit is very important.
So you set from your monthly budget how much is available to play at the casino. You can then break this down to the week or the day. For example, $100 a month could mean that around $3 is available per day. Or more if you only play on certain days of the week. Once the limit is reached, you will not continue playing. This also applies in case of winnings, so the original limit is always maintained.
4.) Playing with plan and strategy
Gambling has its name because the events that occur cannot be influenced. You have no influence on which number the ball stops at in roulette or which symbols are spun. However, anything beyond that is no longer luck, but actually involves skill. For example, if you gamble away your entire budget because you bet on just one number in roulette, it has little to do with bad luck, but was simply not very smart.
This is also the essential core in successful bankroll management. It is the question of what exactly happens to the money. For that, you need a plan and a strategy.
There are games where there is simply more room for maneuver. In the online casino, these are mainly poker and blackjack. With roulette, there is also more room for maneuver than with pure slot machines, for example. It is also part of the strategy that the limits are adhered to. Success in the casino is more of a marathon and not a sprint. Here you will find Casino tips & tricks that really work.
5.) Discipline is the be-all and end-all
Of course, playing at the online casino should also be fun, and discipline always sounds like the antithesis of that, which is simply nonsense. If you want to have success and fun, discipline is the key.
Once you start driving one loss after another, the fun will quickly stop. Accordingly, you should know exactly what bankroll management you are following at all times and stick to it strictly.
Online casinos do not run away and will still be there tomorrow. Playing out of emotions or having it in your gut, these are all not really good advisors when it comes to gambling at the casino. Only if you act prudently and keep a good eye on your budget, you will maintain your enjoyment of the game in the long run.
Author: Jake ErvingReviewed by: What is meant by bankroll management?Author Rating: