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Our gambling experts and professional gamblers agree: smart bankroll management is the key to gambling success, both in online casinos and in land-based casinos and arcades. Some professional casino players go even further and claim that you can only win in the casino in the long run if you have your bankroll perfectly under control and manage it with plenty of self-discipline.
In the following, we would like to explain to you what the aforementioned bankroll management casino strategy actually is, how it works and how you can profit from it in the end.
This is what you need to create optimal conditions for efficient bankroll management in the online casino:
- A separate cash account for your gambling budget.
- Fixed betting and winning limits per day or week.
- A clear plan and absolute self-discipline.
What is Bankroll Management?
The term bankroll management comes from poker lingo and describes the efficient management of your available gambling funds. With bankroll management, you set yourself win and loss limits for a certain period of time and calculate the amount of your bets based on your total budget.
Become a casino pro? Bankroll Management makes it possible
For most gamblers in Europe, gambling on the Internet is an occasional pastime that is pursued from time to time. Often, therefore, players go to the virtual casino rather haphazardly and play just for fun or in the hope of winning a huge jackpot. In most cases, these players end up empty-handed at the end of the day.
But there are actually also professional and ambitious players, who have made casino gambling online their main or secondary profession. These players work with disciplined online casino or poker bankroll management that enables them to create regular profits on the side that are equal to earnings in a “real” profession. While you probably don’t aspire to become a professional player, you can still use the tips and tactics of the pros to make even your occasional hobby game at the online casino more successful.
How does bankroll management work in online casinos?
It’s that simple: In just 5 steps to perfect bankroll management.
- Set a total budget that you can use for gambling the following month and transfer the amount preferably to a separate account, e.g. from PayPal or Neteller.
- Take a maximum of 10% of the amount and deposit it for your first session at the online casino. This way you can play at the casino at least 10 days of the month.
- Set yourself a win and loss limit. The loss limit is the amount you deposited (avoid making another deposit after losing), the win limit should be 100 to 200% of your deposit.
- Choose a game with as high a payout ratio as possible and a suitable stake.
- Play until you reach your win or loss limit and then end the session.
Setting a monthly budget
For example, if you have $500 available for gambling each month, put this amount aside so that you do not keep your possible casino bets and the rest of your money together. Particularly suitable for this are e-wallets such as PayPal, Neteller or Skrill, which you can use free of charge. These $500 are now your casino bankroll, which you need to manage as profitably as possible.
Set a daily limit
Divide the available sum into several days on which you would like to play in the casino. We recommend that you do not bet more than 10% of your bankroll per casino visit and day.
Choose a betting amount per play session that fits your daily budget. So, for example, if you have $50 available at the casino on a gaming day, you should start with a bet of about 20 cents up to $1, depending on which casino game you are playing. If you lose the $50, give up for the current day and try again another time. If your bankroll is exhausted for the current month, wait until the next month to visit the online casino again.
Set a winning limit
Even if you win, you should set yourself a limit. For example, if at any time you have $150 in your account on any given day at the casino, you have won 200% and reached your win limit. Even then, you should stop playing for the current day to avoid the risk of losing your winnings again.
Paying out winnings
You should also set a maximum limit for your monthly bankroll placed in a separate account. Ten times your starting capital would be a good choice. In our example, this would be 5,000 $. Once you have earned this, withdraw a large part of it and use it to buy yourself something, go on holiday or invest the money safely.
However, leave enough money in your gambling account so that you can play the next month with an increased bankroll, for example $ 1,000. This way you can then plan with more casino online gaming days or a higher daily budget, which increases your chances of winning.