Casino bankroll management is paramount to responsible and enjoyable play. If you run out of money too fast, you will find yourself unable to play as long as you’d like or worse, in financial trouble. You avoid either, it is important that you learn to properly manage your bankroll. There are a number of strategies that you can use. We will be discussing a few of them below.
Be Realistic: Take a good look at your financial picture and determine how much you have to spend. Next, come up with a realistic gambling budget. You obviously will not want to spend the money for your mortgage or the cash set aside for your car payment. Also, always avoid borrowing money from others to gamble. It will likely only lead to arguments and broken relationships.
Figure out how long you want to play: Figure out how long you want to gamble. Then make sure that you have enough money so that you will be able to gamble as much as you want. This will require that you do some calculating. It will be important to determine how much money you have to play with and then how much you can afford to wager at each game.
Never Take All of Your Money With You: If you are going to be playing more than one session, never take money set aside for another session with you. You may be tempted to use it and end up blowing your entire bankroll before your trip is over. If you are playing at an online casino, don’t put more money in your account than you want to spend. Even though it is possible to easily add more money to your account, this will at least require an extra step, giving you more time to think about what you are doing and hopefully talk yourself out of it.
Play to win: This isn’t really what it sounds like. You need to play to win at least 50% more than your bank roll. When you have done this, save your initial bankroll and then continue to gamble with your profits if you managed to make any.
Don’t throw good money after bad: If you are on a losing streak, don’t be afraid to cut your losses. One trap that many people fall into is to increase their wager in hopes of winning back the money they have lost really fast. Avoid this. Instead, stick with the table minimums and if you can’t seem to ever get on a roll, quit and try again another day.
Be disciplined: It won’t matter if you have the world’s best bankroll management system if you don’t have the discipline to stick with it. Therefore, do what you can to improve yourself in this area if it is one that you are weak in. If you do not, you will not only have a problem with having adequate money to gamble with but you will likely also develop major financial issues.