There is no question that mastering the art of successful bankroll management can take you a long way when playing in the casino. Who wouldn’t want to minimize their losses and maintain a sensible state of mind while playing their favourite games like Blackjack or Roulette?
If you’ve got love for the game but don’t want to overextend your play, learning how to better manage your money can allow you to keep the fun going without getting into trouble.
To get you started, here are some basic bankroll management principles to keep in mind.
Budget, Budget, Budget
It’s clear that people play in the casino for entertainment, but also to make money. Before setting your sights on that massive payout, ask yourself how much you can afford to spend and then set a goal. From there, it’s all about keeping yourself in check.
If you’re prone to commitment issues, this warrants a whole other kind of article, so let’s just assume you've thoroughly examined your finances and that you've established a healthy starting investment based on your analysis.
Once you've determined an overall playing budget, divvy it up according to the number of sessions you want to play per month and narrow down a daily limit. Remember to commit to this limit because if you don’t, you run the chance of blowing your stash before month’s end, leaving you with an itch to play and little money to play with – not a good feeling.
To further protect your bankroll from temptation, be sure to put all of your winnings aside after every session.
Embrace the Streak
Everyone who’s ever played in the casino understands the concept of a losing streak. If luck doesn't seem to be on your side, the last thing you should do is increase your bet amount in an attempt to win it back. Drastic moves in such a situation may not always fail you but they can definitely jeopardize your bankroll.
In fact, many people embrace the streak by capping their losses at a certain percentage of their overall budget to ensure they can keep the good times rolling for as long as possible. Let’s say you have $100 in your account and you want to play 10 sessions per month. You’ll want call it a day once you’ve lost 10% of your bankroll.
The same thing applies to a winning streak. If you’ve won what comes out to 10% of what’s in your account, you’ll also want to call it a day. Just because you’ve remained undefeated for the past hour, doesn’t mean you’re immune to making the wrong move. It may be hard to walk away from a good streak; however, this will ensure that you don’t wind up empty handed come the end of your session.
Bank that Bonus
Last but not least, do not be afraid to bank that bonus. Be sure to use promotions and bonus offers to your advantage. They can prolong your casino game play by a significant amount, allowing you to maximize play time and a chance to win prizes.
At the end of the day it’s important to remember that fun things are best enjoyed in moderation. Though mastering the art of bankroll management may be easier said than done, if carried out successfully, bankroll management ensures that you make the most of your online casino sessions.