A good bankroll management tips keeps you in control. And while the countless, thousands of sites on the Internet to discuss it can be one of a zillion sites to read about it, over the years of playing blackjack, online casino games and poker, I feel uniquely qualified to offer you tips on how to manage your bankroll. Like any money management expert, I have learned what works, what doesn’t work, what will help and what may derail your casino gambling dreams. I’m not a big fan of lists either. That’s not what this article is about.
I’ve written many articles on my views of money management and what my preferred approach is. In short, I like to think of my tips as hints for you to use when you find yourself in the casino cash flow pit. Not a bad description of where I’m coming from, right? This article is about a different approach to gambling and a different way to approach bankroll management. You may find some of my tips and strategies useful.
Bankroll management tips: Don’t spend all of your bankroll
If you lose on both of the first two bets, don’t waste your bankroll management profits on making those bets again. Ideally, you want to make a series of smaller bets and lose them so that your bankroll management profits can start building up again. It’s a delicate balancing act between gambling your way to a small win and spending most of your bankroll management profits on a set of big bets. If you do both, eventually you’ll be in the clear.
In order to succeed with your bankroll management tips, you need to have some insight into the type of games you are playing. Are you betting on high odds games like blackjack or roulette? If so, then you’re going to need to win more often than you lose. This means having a good idea of what the odds are for each game. Some of the factors that go into this are the house edge (the number of cards you need to lay before the game ends to win) and the house advantage (how much you need to win before you can walk away with your winnings).
In order to create a sustainable strategy, you need to create a schedule for your bankroll management tips and stick to it. Your schedule should include not only your per hour bets but also per day and per week bets. Per hour bets are generally smaller bets that will let you win more easily. Per day bets are long shots that have a higher percent of winning than per hour bets. Make your moves carefully and consistently, and you will have a profitable betting system.
Take a look at your total amount of bankrolls
If you are using an online casino, then you will have to calculate how much money you are putting into the account. While it may seem tempting to keep withdrawing money from your account to make a larger win, this is one mistake that can cost you big time. Do what you can to only take as much money out of the bankroll at one time as you are comfortable with. Also, make sure to take the total amount of your bankroll losses into consideration when making your moves.
The final piece of this two part gambling strategy involves learning how to manage your bankroll’s based on the way you play. There are some things to know about betting in general. For example, if you are playing roulette, then you have a fairly solid chance of losing money if you pick numbers that are not in the blackjack wheel. The same goes for other casino games like blackjack and craps. Knowing this simple tip can save you a lot of money in the long run.
In the final part of this two-part strategy, you will want to consider how much you are willing to lose. There are many people who stack a lot of chips on the table in hopes of winning even more money than they actually do. However, this is not a good idea. Instead, you will want to play safe and try to accumulate small wins in order to avoid dropping too much money at once. If you do end up with a large bankroll, then you can start betting more aggressively but never get carried away and try to play it too hard because it can lead to your loss all together.