Gambling is a form of entertainment. It is no secret that casino games rely more on luck than on skill. In other words, the outcome of the game is in the hands of Lady Luck. Even though all casino fans hope to win a decent amount of money, losing is also part of the game. Players can use certain strategies to tip the balance in their favour. One such strategy that will work to your advantage as a casino fan is to build a bankroll – an amount of money set aside solely for gambling purposes.
The golden rule is that if you cannot afford to lose the money, do not gamble with it. Never use the funds you need to pay your rent, utility bills, food, mortgage, etc. We cannot give a universal answer as to how much money a player should spend at a casino because this depends entirely on individual financial circumstances. Nevertheless, even the most skilled casino fans should not overlook the importance of building a bankroll, as it serves as a safety net, protecting players from financial issues.
The size of your bankroll determines the size of your bets. Building a bankroll is not a simple task, as players must find the perfect balance between their budget and gambling preferences. If your bets are too large, you risk grinding down your bankroll without having a chance to recoup at least some of your losses. On the other hand, if your stakes are too small, you may quickly become bored.
Proper bankroll management is crucial, whether you are a recreational casino fan or a high roller. In this article, our readers will find useful tips and strategies for managing their gambling bankrolls wisely.
Self-Discipline is Everything
The best way to manage your bankroll is to plan your gambling sessions and divide your bankroll into portions. For example, if you plan five gambling sessions in a given month and the total value of your bankroll is £500, you should spend £100 per session. To avoid the temptation to blow your entire bankroll, take only £100 to the casino. Once your bankroll for the current session reaches zero, leave the casino.
To manage your bankroll more effectively during a gambling session, you can set a betting limit. Experienced casino aficionados usually place bets equal to about 10% of their total bankrolls. In this way, they protect themselves from blowing their bankroll as soon as they start playing.
What might surprise many people is that win limits are also useful. Players on winning streaks are more likely to lose all their winnings simply because they keep gambling until they empty their pockets. You can reduce your potential losses by setting time limits as well. Nowadays, reputable online casinos offer a range of tools to keep your gambling sessions under control.
Casino enthusiasts who play more slowly tend to lose less. Perhaps you have heard many times that the house never loses. The factor that works against you is the house edge. You cannot escape it, but you can work on reducing its impact. The house edge is a percentage representing the advantage the casino has. Blackjack, video poker and baccarat are among the games with the lowest house edge. However, its size depends on several factors, including the rules of the game and the types of bet.
Casino fans are advised to separate their winnings from their bankroll. In this way, the chance of leaving the casino empty-handed is lower. Even if you lose your entire bankroll, you will still keep your winnings (if any) as a consolation.
Never Chase Losses
Chasing losses is one of the indicators of problem gambling behaviour. Individuals addicted to gambling cannot handle losing. Often, problem gamblers systematically increase their stakes in an attempt to recoup their losses. Gambling can also spiral out of control during times of financial hardship or even after positive life events such as a promotion at work.
While on the subject, we would like to briefly discuss the term “gambler’s fallacy”. It leads players to believe that previous outcomes that have appeared more frequently than others affect the probability of a future event. For example, if the roulette ball lands on black several times in a row, some players might think that the ball has to land on red soon.
Suppress Your Emotions
Once you determine the size of your bankroll, you should think of this money as disposable income. In other words, you should be ready to lose it without lamenting the fact. Many casino devotees tend to become over-emotional when they are on a hot/cold streak. It is undeniable that gambling goes hand in hand with emotions.
Successful players must learn how to control their emotions. When people are angry or even overly happy, they tend to make poor decisions that are strongly influenced by their feelings. The same applies when gambling. This phenomenon is also known as emotional gambling.
Interestingly, many players perceive gambling as a competition. Nobody likes to lose, but some people will do anything to win. Here, it is not just about money but also about human nature. Competitive gambling can be as dangerous as emotional gambling. It is very similar to loss-chasing, but the motivations that drive casino fans to keep gambling are slightly different. Players should think of gambling as a fun activity, not as a form of competition.
Avoid Alcohol and Drugs
Without a doubt, using drugs is dangerous to your health. We will refrain from belabouring the point, but it will certainly not benefit you while gambling. When it comes to alcohol, we cannot blame players for having a drink or two, provided they remain within sensible limits. Of course, the best approach is to avoid drinking altogether. Excessive alcohol consumption impairs brain function and affects mood, emotions and actions. Hence, casino enthusiasts are advised to end their gambling sessions before deciding to consume alcoholic beverages.
How To Grow Your Bankroll?
Nowadays, casinos offer some mouth-watering bonuses that can significantly boost your bankroll. Land-based gambling establishments do treat their players to occasional promotions, but online casinos are the real winners when it comes to bonuses. However, players must carefully read the bonus terms and conditions.
At first glance, some bonuses may look extremely generous. However, do not forget that they come with a wagering requirement, also known as playthrough or rollover. This indicates how many times you have to wager the bonus before you can cash out your winnings.
While playing with an active bonus, most casinos cap the size of the bet you can make. Another important aspect of casino bonuses is game weighting. It shows the percentage of each bet that a given game contributes towards the wagering requirement. Casino enthusiasts should also keep in mind that some casinos cap the withdrawable winnings accrued from the bonus.
Casino bonuses come in different shapes and sizes. Some bonuses require players to make a deposit, while others can be obtained without paying any money. Such promotions are known as no-deposit bonuses and give players the opportunity to test the casino in a risk-free manner. Selecting a bonus is not an easy task, as players have to consider many factors. However, promotions will optimise your winning potential by increasing your bankroll.
Closing Thoughts
For players who can control their habits, gambling can be genuine entertainment. Unfortunately, some people cannot resist the impulse to gamble even when it has negative consequences. Building a bankroll is crucial if you want to stay on the safe side while gambling. It will protect you from losing large sums of money and help you keep your gambling sessions under control. Proper management of the bankroll is equally as important as building it. Good management will help you stay in the game for longer and reduce the impact of the house edge.
Although bankroll management may sound like a difficult task, it is quite straightforward as long as you follow our tips. If you are a disciplined person, you are unlikely to experience any problems managing your bankroll. Always gamble with a clear head and never play with money you cannot afford to lose – these are the two fundamentals of successful gambling.
