Introduction: Looking After Your Bankroll
Looking after your bank roll is one of the most important aspects of gambling. Why? Well, everyone who goes to the casino is dreaming of having a lucrative night. But in reality, they would be happy if they could settle for breaking even. For all the effort you might put into learning a casino table game, it will all come to naught if you don’t know how to handle your bank roll. After all, this is what allows you to gamble in the first place. Burn through it too quickly and your evening at the casino will be but a brief visit. As a profit player, looking after your cash should always be the first priority. So, studying strategy, learning how to evaluate the odds and all the rest of the stuff that makes the gameplay exciting, has, quite frankly, very little to do with how profitable you’ll be over the cause of a session. That’s all down to how you manage your bank roll.
Keep in mind, that a bank roll that hasn’t been carefully considered is going to ultimately lead to your downfall at the games tables. So let’s have a look at the subject of bank roll and what you can do to ensure a worry-free evening at the casino.
How Much Can I Comfortably Afford to Lose?
Yes, we know that this might seem like we’re starting with a pretty negative outlook. After all, you’re off to the casino to make money, not lose it! But, let’s put on our “realistic” hat before we start. Nobody wants to be thinking that they’re going to be losing money. But it’s important that you begin with this idea in mind. So the first and probably most important point is to work out how much you can lose and yet still remain comfortable in your everyday life. We suggest that you look at your bankroll as if it was a purchase.
Your Bank Roll is Not an Investment
Many gamblers look upon their bank roll as an investment. But for us, this is completely wrong-headed. The thing is that investments are carefully crafted financial strategies that should be slowly growing over time. There’s no way you can compare betting with that! For virtually every person that walks through the casino front door, gambling is going to be a financial hit. Yes, yes, we know that there are some gamblers who make decent money. But they are a minuscule percentage of all the other players. Just look around yourself as you stand in the middle of a casino. Everything you see is paid for by losers.
Looking After Your Bank Roll: Respect Your Money
It’s important to keep an eye on your bank roll at all times. Doing so will allow you to make adjustments where necessary in order to either maximize your winning potential or minimize your potential losses. That’s why you should treat your cash pile as a purchase, in that it’s money already spent and you’re not expecting to get it back. This way, you’ll have the right mental attitude before you start. So if you do end up as a winner, it’ll be a welcome bonus. And if you end up losing, then you will not be so upset, as you were already kinda expecting it.
So the first lesson is to view your bank roll as money that you’ll never see again. OK…we hope this isn’t true, but it’s a good and realistic starting point.
What Is My Percentage Range?
This is essentially the range of monetary bets expressed as a percentage of the wagers you’re going to place on a particular game. The whole point of this is to avoid any major losses that’ll clean out your finances too quickly. Obviously, the idea to avoid hitting a big fat zero with your bank roll, thus allowing you more chances to score some winnings. That’s a simple fact, if you have no bank roll, then you have no means of winning anything. You need to set an appropriate range for your bets. Most gamblers we’ve spoken to, recommend nothing higher that 2% of your total bank roll, per bet. At the high end, there are those who say they regularly bet around 5% – 10% per round.
Looking After Your Bank Roll: Make It Last
So if you enter casinos to win the jackpot with a $1,000 bank roll, then with the former example, you’ll be betting no more than $20. We call the bottom end of your betting range, the floor number. Betting any lower than this will not bring in any significant winnings and so would be pointless. e would also suggest that you adjust your betting range so that you never go above 10% tops in a single day’s play. Remember that you’re trying to hang on to your bank roll for as long as possible. You don’t want to be looking for the cash dispenser or ATM before your session is over. And making high dollar bets is going to clean you out that much faster.
How Am I Tracking My Winnings and Losses?
Everything we’ve spoken about means nothing if you can’t track the money coming in and out thanks to the games you’re playing. In some ways, looking after your ban roll is a bit like running a business. You’ve put together all this money, and now you have to run it and monitor your cash flow. This doesn’t require any math skills, just a simple and straightforwards means of keeping a record. You can find any number of apps available to help keep track of your betting. Or simple computer programs. All you want is something like an Excel file. Something where you can periodically fill in the details for a particular time frame. You’ll need to put in various categories like the games you’ve played, amounts bet and whether you’ve won or lost, and if so, by how much. Keep an eye on the totals.
We suggest that you do this every time you return from the casino or when you’ve finished playing on line. If you happen to miss a week or so, and have been busy gambling, then the whole system becomes pointless and will collapse. Though the purpose of tracking is to help you manage your funds more efficiently, it also comes with some other benefits. For example, with a quick look over, you’ll be able to see what games or sports you’re better at betting with. Those should be the ones you concentrate on. Keep everything a simple as possible so all the information is easy to find and understand.
What Betting Platform Am I Using?
You might wonder as to the significance of the betting platform on looking after your bank roll. How can this have an impact on whether you stand or fall? Part of your online strategy should be to choose an online casino that will allow you to play without fear of losing any monies from your account. All sites will have slightly different ranges of products and services. And all will have cost differences. Whether it’s collecting bonuses or promotions or how quickly you can withdraw funds, these things will all have a noticeable effect on your cash pile.
For many profit players, being able to cash out quickly and easily is one of the most important factors in choosing a site to play on. Many online sites make you wait for a certain time period before they deposit the requested sums into your bank account. This is really a well thought out scheme to keep you betting for longer. The casino’s know that if it takes you longer to get out your funds, then there’s a good chance that you’ll keep betting. Also, be sure to read the small print, as many casinos charge a fee for withdrawing your own funds.
Look For Bonuses and Promotions
If getting your money back quickly isn’t a massive priority for you, then you should be looking for the sites that offer the most bonuses and rewards. Once you’ve made your initial deposit, many will either match or give you multiples of this amount to spend on their sites. This is a great deal for those will a small bank roll who want to play more. But if you do choose a site and receive a bonus, DO NOT add it to your bank roll total. Remember that it’s not like these bonuses are real money that you can withdraw and use elsewhere.
Because the online casino business is very competitive, you’ll find lots of great offers for your business. Take your time to find the best casino site to play. This will give you a huge advantage with all the available options. But first read the Terms and Conditions in order to discover what you can and cannot do with these special offers. And remember to compare sites with jackpots.
Conclusion: Looking After Your Bank Roll
Of all the subjects to discuss about gambling, money appears to be the least glamorous subject matter. But looking after your bank roll is one of the most important aspects of any gambling activity. It’s important to know your limit. Never go over this. Make sure that you continuously keep track of your betting. All this information ill lead to a better and more worthwhile betting experience.