The value of managing our bankroll
The bankroll is a fundamental part of a fruitful betting experience. So it goes without saying that bet bankroll management should be your top priority if you want to enjoy any level of success in online gaming. Let’s start by defining bankroll management and why it is important.
What is a bet bankroll management?
Bankroll is the amount of money set aside specifically for online gaming. Management involves the proper allocation of funds and resources towards a specific cause. Now, bankroll management involves budgeting how much you are willing to play in the casino, and ensuring you stick to that budget through various tools and techniques.
Why is it important to keep a good bankroll?
So, why bother planning out how much you are willing to spend in the casino? Well, this ensures you only play with what you are willing to lose. Bankroll management can even protect you from broader financial ruin from the effects of bad gambling habits. Bankroll management also lets you stay in the game for longer, which is the key to winning in the casino.
What percentage of your bankroll should you bet?
This is highly subjective, and there is no one-size-fits-all. The percentage of your bankroll placed on each wager depends on your gaming plan and your risk tolerance. However, if you are starting out and need some guidance, we suggest not going over 2 to 5% of your bankroll on each bet.
Follow betting strategies to improve your victories
The betting bankroll management strategy you should use depends on the game you play. Below we have included some of the most common strategies used by online casino players. You can find more details on our game strategy pages.
- Roulette: Flat betting, Martingale, Anti Martingale, Fibonacci, James Bond, D’Alembert, Doubling down
- Blackjack: Blackjack counting card, double down on a hard 11
- Baccarat: 1-3-2-4 baccarat strategy, Breaking the doubles strategy
- Poker: GTO strategy, Exploitative strategy
10 tips for managing your money in a casino
Although you’re playing in a casino, bankroll management cannot be left to chance. They are key tried and tested strategies that you can use to improve and ensure a healthier financial outcome. We list 10 of our best tips to improve your betting bankroll management below. In later sections of this casino bankroll guide, you can also find the top-rated casinos for responsible gaming.
- Gamble the money you can afford to lose
This is the first rule of online casino gambling. You must gamble with money that you are willing to lose. Online gaming is not an investment; you must be clear about that.
- Set a Spending Limit
The best online gaming platforms provide players with bankroll management tools that they can use to avoid major financial losses. One of these is the ability to set a spending limit. You can find this feature in many online casinos, and it is excellent for keeping how much you spend in check.
- Use casino bonuses and free spins
Online casinos have many bonuses for new and regular players. You can use these bonuses instead of playing with your hard-earned cash. The beauty about bonuses like free spins and no deposit offers is that if things don’t pan out you can walk away unscathed.
- Don’t spend everything in one go
If you ask experienced players they will tell you the key to online casino gaming success is to stay in the game. So, betting everything in one go is an amateur move that you will do well to avoid.
- Find the highest-paying games
Casino games are not the same and some payout better than others. If you plan on enjoying any level of success here, you need to ensure you only take part in games with the highest payout.
- Bank your profits on the way
Smart players always take something off the table. The goal is to reach a point where you can only wager your winnings and remove your principal amount. You don’t need to do this in one swoop, but make sure you take out some of the winnings as you go.
- Use e-wallets
E-wallets are ideal for online gaming because of their ease of use. You can take half the time to open an e-wallet payment method as you would require to set up a proper Bank account. Furthermore, using e-wallets ensures that your personal banking details are kept separate from the online casino.
- Stay strong and control your emotions
It is important to realize and guard against extreme emotional swings when you are playing online casino games. It’s never a good idea to change your strategy or how much you wager when your emotions are all over the place.
- Use responsible gambling tools
As we stated earlier, the best online casinos have a plethora of player help tools to help you gamble responsibly. Make sure you use these free resources to ensure that your gaming experience is as enjoyable as possible.
- Stop at the right moment
One of the best bankroll management practices is to know when to quit. This doesn’t only apply when you are up, but also when the chips are down. Know when to step away and live to fight another day. if you have trouble stepping aside, many support groups can help.
Top 3 casinos with the best responsible gambling tools
- Hard Rock Online Casino: Ability to set limits before you play
- 888 Casino: More than 5 additional responsible gaming tools
- BetMGM: Enjoys support from reputable responsible gaming organizations
It’s very easy to think that casino games are straightforward and require no effort. But the truth is successful online casino players start the game before taking the first spin. This is when they figure out how much to spend and also master the discipline required to stick to that plan. If you want to win real money in US online casinos, the tips and strategies outlined in this guide will go a long way to helping you achieve this.