Casino Bankroll Management

If you want to maximize your time at your favorite online casino, proper bankroll management will take you a long ways. Casino bankroll management is important because it gives you the most bang for your buck and it keeps your casino finances separate from your personal finances.

1. Choose a bankroll and stick with it

The first thing you should do when setting up a casino bankroll is set aside a certain amount of money that will be dedicated to casino play only. It’s important to make this distinction because if you randomly mix your casino money with your personal finance money, it’s hard to keep track of where one ends and the other begins. As you can imagine, this can lead to you accidentally spending more money than you intended at the casinos.

Pick an amount of money you can afford to set aside and stick with it. Whatever you do, do not ever gamble with money you need for other things. That is of absolute importance. If you ever find yourself gambling with money you had set aside for other important purposes like groceries, rent or family time, you should stop gambling immediately.

2. Choose your stakes

Once you have your casino bankroll clearly separated from your other money, the rest of your bankroll management strategy will depend on your gambling goals and risk tolerance. If you’re out there to get a quick rush and go big or go home, there’s not a whole lot more you need to do other than pick an online casino and get busy.

If, on the other hand, your goal is to play for as long as possible on your bankroll, you’ll want to pick your games and stakes more carefully. Slots players will want to play with either smaller coin denominations or on fewer paylines at a time to make each spin of the reels less expensive.

On other games like blackjack, baccarat and roulette, your money can last even longer if you stick with small bets and even money bets. The table minimums at online casinos are significantly lower than at live casinos so you can play it as safe as you want online. The only question you need to ask yourself is how much you’re willing to risk.

3. Set time and loss limits and stick to them

One handy tip to preserve the bankroll is to give yourself a time limit and loss limit at which you will pack it up and call it a day. When you give yourself both a time limit and a loss limit, you ensure that you can only lose so much money.

The purpose of the time limit is to simply keep you out of trouble. If you’ve ever had a bad day at the casinos, it can get tempting to move up in stakes or play until the wee hours of the morning trying to recoup your losses.

4. Consider using a simple betting system

No, I’m not talking about the “guaranteed to win!” betting systems you see for sale all over the internet. Those are all rip-offs so don’t even waste your time or money. The betting system I’m talking about is a simple bankroll management technique some players like to use.

When you win a bet, you can increase the size of your bet by one unit. Every time you lose a bet, you decrease your bet by one unit. This strategy helps you play with your winnings only.

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