One of the oldest subjects in gambling is bankroll management. We are just one of a billion websites that discuss it.
But that’s only because managing your gambling bankroll is a crucial subject. Similar to your household budget, without one you won’t know where your money should be spent. You’ll probably end up spending it carelessly and haphazardly as a result.
A bankroll management strategy controls your spending.
Although there may be a gazillion websites discussing it, we believe we are equipped to offer guidance based on our decades of combined expertise playing casino games, poker, and placing sports bets both offline and online.
Additionally, we might have a fresh viewpoint or thought that you haven’t yet heard about!’
The first question, what is a Casino Bankroll?
his inquiry undoubtedly seems stupid to you. Your bankroll is the sum of money you have available to use for gaming, correct? Not quite.
Your gambling funds are part of your bankroll. However, if you gamble offline, it also covers the cash you’ll need for travel, lodging, meals, entertainment, and other expenses.
Of course, you can use every dime you have to have fun. However, it’s likely that you won’t have a place to stay, and your only options for food and drink will likely be the casino’s weak cocktails and the occasional buffet comp.
We don’t advise you to take this path.
Since you are not traveling, your expenses are lower when you play online. However, you also have other expenses to cover.
For instance, if you want to gamble online, you must pay your phone and internet bills. You might also have additional expenses for gambling-related, for like uploading bitcoin or any other cryptocurrency for Binance for example.
It goes without saying that you shouldn’t waste money that you need to pay bills, buy food, or take care of other more critical things.
In a moment, we’ll look at how to accomplish this. Let’s first discuss how much of a bankroll you should have in the first place.
How to manage your Casino Bankroll?
One of the oldest subjects in gambling is bankroll management. We are just one of a billion websites that discuss it.
But that’s only because managing your gambling bankroll is a crucial subject. Similar to your household budget, without one you won’t know where your money should be spent. You’ll probably end up spending it carelessly and haphazardly as a result.
A bankroll management strategy controls your spending.
Although there may be a gazillion websites discussing it, we believe we are equipped to offer guidance based on our decades of combined expertise playing casino games, poker, and placing sports bets both offline and online.
Additionally, we might have a fresh viewpoint or thought that you haven’t yet heard about!’
The first question, what is a Casino Bankroll?
This inquiry undoubtedly seems stupid to you. Your bankroll is the sum of money you have available to use for gaming, correct? Not quite.
Your gambling funds are part of your bankroll. However, if you gamble offline, it also covers the cash you’ll need for travel, lodging, meals, entertainment, and other expenses.
Of course, you can use every dime you have to have fun. However, it’s likely that you won’t have a place to stay, and your only options for food and drink will likely be the casino’s weak cocktails and the occasional buffet comp.
We don’t advise you to take this path.
Since you are not traveling, your expenses are lower when you play online. However, you also have other expenses to cover.
For instance, if you want to gamble online, you must pay your phone and internet bills. You might also have additional expenses for gambling-related, for like uploading bitcoin or any other cryptocurrency for Binance for example.
It goes without saying that you shouldn’t waste money that you need to pay bills, buy food, or take care of other more critical things.
In a moment, we’ll look at how to accomplish this. Let’s first discuss how much of a bankroll you should have in the first place.
How Much of a Bankroll Should You Have?
The subjective nature of this question is a problem. It varies from person to person; there is no definitive response.
Decide how much money you have available to play slots. Next, decide how many sessions you’ll play. Then multiply the sum by the number of sessions to get the cost per session.
Take a scenario where you have $1000 to play with and five sessions planned. Simply always bring $200 with you.
Now, one thing we didn’t consider was winning. But that was done on purpose. When determining how much to bring, we want to consider the worst-case situation (that you’re most likely going to lose).
We also avoided discussing the stakes.
When playing games with such a high house edge, we advise playing for the least amount of money possible. That means $0.25 for each round of video poker and penny lines for slot machines.
Having fun is the main objective of gambling, despite this. Have fun if it costs $5 per spin or $25 per hand and you have money to burn.
However, having pleasure is the main goal of gambling. If your definition of enjoyment is $5 a spin or $25 per hand and you have extra cash to burn, go for it.
Managing Your Casino Bankroll
Once you know how much money you have, how much you plan to spend, and which games you plan to play with it, doing this becomes much easier.
Only problem is if you don’t stick with your plan! But here are some tips to help you out:
- Bring only what you will need for each session.
- Have a friend or relative hold your money on your behalf.
- To set a spending or session time limit, make use of the self-exclusion feature that many best online casinos have.
That final point is crucial. In fact, we advise establishing a time restriction for the amount of time you plan to play.
The best case scenario is that it will provide you a break, allowing you to stretch and relax. You might even opt to leave (with a profit).
Worst case scenario, it will act as a stop loss. You’ll get a vacation from losing because of it. Additionally, if you didn’t follow your casino bankroll management plan, it will limit any unauthorized spending that you did.
Before we continue, just one more thing.
You might also think about deciding how much you can win before giving up.
That undoubtedly sounds strange; if you’re winning, why wouldn’t you keep playing? The problem is that at the majority of casino games, losing is practically a given. You’re doing better than others if you’re making any money at all.
So why not leave with a little bit more money than you started with?
How To Make Your Casino Bankroll Last?
The answer is simple and the magic word is Cashback & VIP Program.
Have you had that feeling, that you lost your full bankroll immediately? We have all been there.
We highly suggest that you take the advantage from Bitcasino.io to receive 20% cashback up to 10,000 USDT with a huge welcome boost: Win 10% extra for 10 minutes Add 10% to all winnings when you play Wanted Dead or a Wild
Conclusion
It cannot be denied. The ability to manage one’s casino bankroll is crucial. If you want to have fun at the casino, it’s also the first skill you should learn.
Otherwise, you can find yourself spending several days in Las Vegas without any cash since you blew it all in the first few minutes. Then, until you catch your trip a few days later, you must beg for food and sleep on benches.
We’ve been there, done that.
But you don’t have to experience that. And you won’t because if you follow the advice we provided above and apply common sense.
For other casino tutorials we recommend to check our Casino Terms Explained article.
