What is bankroll management?
A bankroll is the amount of money available to a player. This capital is the basis and also the safety net of a gambler. Without it, there is no profit, and it is also used to compensate for losses. After all, even the best players lose. Skillful management keeps the risk of losing a substantial and large portion of one’s bankroll small.
Get an overview
The start of successful bankroll management is not very spectacular: It begins with looking at your monthly income and your own account. And with an overview of one’s finances and the knowledge of how much money one needs on average to live on. Just as rent should make up a maximum of one third of the monthly budget, only a certain amount may be used for gambling. It can be assumed that a maximum of ten percent of one’s monthly income would not break anyone’s neck if this money were lost and one could still have fun playing.
Set a budget
So choose an amount that you can comfortably spare but also lose. The following applies: The gambling budget must be strictly separated from the money for living. Because the iron rule says: Never gamble with money you need to live. Otherwise, you will gradually slide into personal insolvency.
The 6 expert tips for a successful visit to the casino
Set up rulesIt’s not always easy to stick to your own guidelines. That’s why we have bankroll management: so that it shows us the way, with built-in stop lines: up to here and no further! No matter whether it’s 50 or 700 dollars a month. This bankroll is your betting budget – and you should stick strictly to it.
In principle, there are no laws for managing the bankroll. Because every budget, every player is individual – that’s why there can only be tips and recommendations. The goal of every player or investment is naturally to make a profit – but this does not always necessarily work. Therefore, the rule is: avoid losses. One should not only look upwards and thus towards a possible profit and rely on that, but rather look downwards in the planning phase, towards a loss, perhaps even up to a total loss. Is a lost amount annoying, a nuisance or a matter of survival? The answer to this can only be given to oneself.
Think entrepreneuriallyAnother approach to your game management: players should see the bankroll as their investment – after all, convertible buy-ins or stakes and rake. The winnings – minus the costs – are the profit earned. Thus, your bankroll becomes your working capital. And this working capital enables you to top up credit at the machine, pay entry fees for tournaments or buy chips. You can calculate for yourself how much you can afford to spend, depending on your playing habits. This brings structure and an overview to your own game and is also variable, for example by switching to smaller stakes.
After all, your own limit must also fit your personal bankroll. In this way, you can determine for yourself when you can move up or down in the limits. With good bankroll management, you have your stake under control, because you are guided by your budget when choosing your limit. “How to win in the casino” can therefore be compared to the question “How to run a successful business”.
Avoiding trapsIt could actually pass for a beginner’s mistake, but it also happens to experienced players: Don’t pay by credit card in the casino – because topping up the gaming budget is far too easy. On the other hand, it is best to take only cash with you, not a cent more than your bankroll management dictates.
This also applies to the online world: here, too, you should not break out of the grid you have set yourself. The goal must be to avoid risking too much of your bankroll. Also relevant: The amount you plan to bet per round must be kept firmly in mind. Especially in slot machines, it is easy to fall for the trap of suddenly increasing the bet. It is important to reduce the risk of losing the budget uncontrollably and significantly too quickly. Nevertheless, a well-managed bankroll can withstand fluctuations in poker and classic casino games such as roulette or blackjack. The right way is the skilful handling of one’s own capital with the aim of preserving the money. By the way, the following applies to casino trick books, instructions and apps on the internet as well as other supposedly safe winning strategies: Hands off!
Conservative is clever
Conservative is cleverOf course, there are many players who have been successful with aggressive bankroll management and high-risk bets. However, you should always bear in mind that it is much more likely that you will blow your capital with such a strategy than that you will land the hoped-for profit.
Conservative bankroll management is relevant for most players. After all, who likes to lose, especially from their hard-earned money. Nobody likes to do that – neither on the stock exchange nor in the casino. One’s own bankroll represents a real value that can rarely be quickly filled by other sources of income. That’s why cautious action is the order of the day. This can be reinforced: The more valuable the bankroll is for a player, the more conservatively one should approach bankroll management. Risk-conscious management and cautious play make total loss much less likely.
Game DiaryThe approach is not much different from an extended household diary: write down everything that is relevant to you and your game. In principle, it makes sense to make notes on starting and ending balances before and after each game phase.
Keep a record of your own performance, the time you played, what profits/losses you made with which stakes and in which game, supplemented by other useful information such as emotional state, anger, rage, joy. Such a gambling diary is a good way to keep track of your gambling and expenses – and also of yourself. You can write this down in a continuous text or, better, enter it in a table.
After a short time, you should be able to recognise trends: How long did I play? Are there correlations to losses/gains? How much have I won/ lost so far with a certain limit? In which game do I win the most? What were your feelings about different events? A game diary is a helpful tool to better control yourself and your game – and become more successful.
Winnings ManagementThe crowning achievement of successful bankroll management is planning what to do with winnings. First of all, it is important to organise that such earnings do not remain in the account at the casino, but go where they belong: into one’s own account or pocket. In addition, one should determine in advance how winnings will be used.
You could first treat yourself to something special, for example a delicious dinner, a short holiday or a fancy piece of furniture. Then put the main part of the winnings in the bank, i.e. add it to your private assets. And only then think about the bankroll by allocating a maximum of half, or better only a third, of the winnings to the gambling budget. And in this way, as a result of solid bankroll management, you also ensure a continuous growth of the bankroll.