How to Manage Your Online Casino Bankroll
Bankroll management is among the most important casino betting skills that every gambler must master to be successful. A casino bankroll management system is like your house budget. While you can do without it, working without it is like spending your money blindly. You won’t know where your money is going, and you’ll end up spending it randomly and recklessly.
What’s online casino bankroll management?
Your bankroll is the money you’ve set aside for your gambling adventure. When gambling offline, your bankroll also includes the amount of cash you’ll need for hotels, transportation, entertainment and food. Of course, you won’t incur all these costs at an online casino, so you can be with all the money you have set aside.
Your casino bankroll shouldn’t include the money you’ll need to cover personal bills like housing, food or school fees. Once you fully understand that, you can start learning casino bankroll management. But first, how big should your bankroll be when gambling on top-rated USA casino sites and apps?
How big should your casino bankroll be?
The question of how big your casino bankroll should be is subjective. It varies from one gambler to the other. To figure out the ideal casino bankroll for you, here are some questions you must ask yourself.
- What casino games do you want to play?
- How large do you want your stake to be in every bet?
- How long do you want to play in every session?
- How many sessions do you plan to play?
For instance, if you want to play several poker tournaments with a $45 buy-in and take 3-4 hours to complete, you can choose to participate in three tournaments per day. That means you’ll need at least $135, and if you burst in every tournament, you’ll need double that amount.
Managing your bankroll
Casino bankroll management is easy once you have established the amount of money you’re willing to spend and all the games you want to play. The challenge is sticking to your budget, as most punters are tempted to blow their budget by chasing their losses or trying to make the most from a winning streak. Here are several bankroll management tips to help you do that:
- Only deposit the amount of money you’ll need to spend in a gaming session.
- Keep the rest of the money out of reach with the help of your friend, family or bank.
- Use the self-exclusion option available in leading online casinos to limit your expenditure per gaming session and how long you’ll play at a site.
The self-exclusion option in leading casinos acts as a stop loss as it helps you get a break, especially when you’re on a losing streak. Also, consider setting a target for the amount of cash you want to win before quitting. That helps you to quit while you’re ahead and avoid pushing your luck to the limits, which will cost you money in the long run.