Managing Your Casino Bankroll

Do you know how to manage your bankroll properly? This is an important skill when you’re gambling – you should budget your money in such a way that it lasts at least till you’re ready to stop playing. Whether it’s an online game or you’re playing in a real casino, if you follow certain basic guidelines, you’ll find your bankroll is being well managed.

Gamblers have a lot of fun, but those who lose control of their bankrolls can get into financial trouble. When you’re betting, never use money that is meant for something (or someone!) else. It’s vital to decide in advance what exactly you are spend – set an affordable limit, divide it by the number of days you plan to gamble and make sure you don’t exceed a day’s allocation. Don’t carry the whole lot with you – avoid the temptation of dipping into the next day’s quota. And don’t carry your credit card either!

Then, when you’re deciding what to play, choose a game that is likely to prove advantageous – don’t pick that has more a 2% house edge.

Another sensible thing to do is to put some of your winnings away. When you’ve made more than your original bankroll, put that away first, and then an additional 50% of the same amount. Play with the remainder, then whatever happens, you’ll have your bankroll plus half more to take home.

Stick firmly to your budget. Don’t end up throwing away the family’s vacation money! And though risks are exciting, don’t be too brave – prudence always pays off. Most winners don’t bet more than 5% of the bankroll on a particular bet.

It’s not a good idea to start betting more when you’re down, trying to recoup your losses. Wait till the luck runs better for you! And if possible, try and quit while you’re ahead – this can be harder than it sounds.

There’s one way of keeping your bankroll safe – progressive betting. Here, when you’re losing, you just bet the table minimum. But if you’re on a winning streak, you progressively enlarge your betting amounts. Set a target for yourself and when you reach that figure, put it away separate from your bankroll.

Gambling might look like fun, but it’s important for a gambler to be disciplined. You should have the ability to get up from a game when luck is bad, your mood inappropriate or your bankroll depleted. And keep your wits about you. Casinos often offer free drinks, and these can impair your judgement.

Have you thought about the bonuses that many casinos offer? They’re attractive, but make sure you know as much as possible about them – many bonuses come with wager and withdrawal restrictions. Study them before you make your choices.

Effective bankroll management makes your gambling time last longer. It’s not going to make you suddenly start winning, but it will help you safeguard what you do win, and prevent you from being cleaned out barely before you get started. Manage your bankroll wisely – and good luck!

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