Though casino games allow for great entertainment and earnings, the prolonged losing streaks are a fact of life for every bettor. When you go winless for several days on the trot, having some cash to keep up with your passion is a good idea. That calls for effective bankroll management.
Bankroll Management (BM) is all about managing betting money smartly. This involves how much you put on stake per bet, per session, per day or month, along with how long you play, which game you play and where you play. A well-managed bankroll helps you plan your bets and bet sizes, avoid excessive losses and save some money for another day’s play.
Types of BM
BM has two approaches to it, namely Unit approach and Percentage approach.
- Unit Approach: Suppose you have decided to wager a fixed amount, say INR 500, on each bet. That’s the Unit approach to BM. The Unit approach makes sense for beginners.
- Percentage Approach: You take into account your bankroll and place a certain percentage of it per bet. This approach works well for seasoned players.
The benefits of BM
Let’s elaborate the benefits of BM for an everyday bettor, one at a time.
- Play longer: When you limit your wager per bet in an online casino, you always have some leftover money to absorb losses during long lean phases. So, you can play longer.
- Informed decisions: BM requires you to monitor your wins and losses over a period and analyzes reasons for the same. That leads to informed betting decisions.
- Future decisions: BM gives a fair idea of how much you can win playing a certain game at a certain casino. So, you can shift to more profitable games and casinos, if needed.
- Save on banking fee: with BM, savings on banking fees come by default. You always have leftover money in your account, which means fewer transactions and fees.
How to manage your money?
- The bankroll you put up for a roulette game, or any other casino game, should be 20% of your total income. Betting beyond your means may choke your finances.
- Don’t let winnings or loses entice you into over betting your bankroll.
- Avoid side bets and progressive wagering strategies.
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