Casino bankroll management is all about how you handle your funds. It's not just about picking the right games and bets (although it's that too), it's about managing downswings and big wins.
Think of it like managing your monthly budget, with bills going out and income coming in. If expenses are high, you cut down on other things. Similarly, if your wins are big, you plan to put some aside for when you'll need it most.
All casino players, even those playing at low stakes, should have a bankroll plan. It doesn't need to be complicated but with some simple preparation you can avoid going bust.
What Is Bankroll Management?
Simply, bankroll management is the way you handle your bets and profits. It's about betting small enough so you don't go broke if you hit a losing streak, and big enough so you can enjoy some nice wins.
There are three things to remember when playing casino games online:
Betting on casino slots and table games is great fun, but it's also freely available. It's easier than ever to open a laptop or tablet and log on to a favourite casino site. That's why it's vital to play sensibly. Picking the right games - and understanding the rules first - will help you make better-informed judgments.
Choosing a Casino Bankroll
There are many books and systems out there that tell you what to start out with when you gamble. It doesn't really matter how much you have, but rather the proportion of your bankroll to the average bet size.
Let's say you have £200 in your bankroll. You should be aiming for about 200-250 average-sized bets with that total bankroll in a session. That means slot spins of 50p-£1 or slightly higher stakes for blackjack and roulette.
Table games like roulette have lots of even-money bets which can appear quite often (nearly a 50-50 chance of hitting Red or Black, for instance). This makes the game less "volatile". Compare those 1/1 payouts now with the big jackpots in online slots - 500/1 or 1000/1 and more. You can see that slots need more sensible money management than table games.
Even better, keep £100 aside for a different game and just have £100 for the one game. You can adjust your bets accordingly.
Picking The Right Games
Online casinos offer a massive range of games to play, each with their own house edge and volatility. The house edge is the casino's average long-term advantage over the players. For example, European Roulette has a house edge of 2.7%. That means that over the long term, players can expect to lose $2.70 of every $100 bet on a game.
House edge also exists in slots. Online tend to have a house advantage anywhere from 2% to 12%. Obviously, it's good to find the games with the highest payouts to players long-term. You can normally find these figures in the paytable or listed in the casino's game audit certificate.
But some slots are more "volatile" than others. While some games pay out little and often, others will pay nothing then hit you with a big jackpot. When playing high-volatility slots it's important to have enough cash in reserve to handle the swings. You can also adjust your bet proportions when playing more volatile games.
Managing Your Online Casino Account
It's simple to log on and "just have a few bets", but without planning your bankroll properly you can end up broke.
Picking a good time to gamble is the right move, but deciding on the best banking options is important too. All casinos accept real-money deposits and withdrawals. If you're in the UK you will generally avoid fees when making payments (although some casinos will charge). But it's vital to know if your card or e-Wallet provider is adding on fees the other end.
In most cases it's free to use a debit card, while e-Wallet payments are free if coming from the e-Wallet to the casino. However, credit cards will incur a 2.5% fee and may not always be available for cash-outs. You might have to pay a hefty one-off fee when moving cash overseas to a casino site, so always check the Ts and Cs first.
Finally, watch out for bank transfer or currency conversion charges. In some cases you might get a worse deal than a currency exchange when depositing in GBP and playing in USD.
Casino Bankroll Management FAQs
What Is Bankroll Management?
Bankroll management is the careful planning and structuring of your casino bets and profits.
What Are The Best Casino Games To Play?
Casino games have different levels of house edge and RTP (Return to Player) percentage.
How Much Of My Bankroll Should I Bet Per Game?
It's important to work out the percentage of your bankroll you are willing to gamble on each game. Around 200-250 average bets is a good gauge, depending on what game you are playing. It's also good to cash out winnings whenever you can.
Are Betting Systems A Good Idea?
Betting systems help you structure your bets depending on the wins and losses. However, most are flawed and rely on you having a massive bankroll to handle long-term downswings.
Are Online Casino Bonuses Generous?
They can be. All casinos offer a variety of promotions which guaranteed free cash and games in return for a certain amount of wagering. Offers can vary, so it's important to check the terms on each bonus before you commit.
What If Get Into Problems With My Gambling?
If you have a downswing, or find your bankroll getting out of hand, it's vital you stop and take stock. Casinos have trained staff who can assist if you have a problem. Some sites allow self-exclusion - blocking yourself from accessing your account - for a period of time. All casinos will list the best resources for problem gambling on their homepage.