Casino play may feel like, above all else, it is about winning and losing, and there is a certain amount of truth to that.However, the biggest and most important part of the online casino (and indeed land-based casino) world is bankroll management, ensuring that you profit the most you can from wins, and more vitally, that you never spend money you can’t afford to lose.Casino play can be great fun as long as you spend wisely, even if you don’t win, but if you do, it’s sensible to know how best to manage your bankroll before and after wins to ensure you take away at least a decent portion of the money you win.As always, we are here with a handy guide to help you with your bankroll management, and to ensure you get the most out of your online casino experience, without ever feeling out of your depth.
What is bankroll management?
Bankroll management is the tool you use to ensure you don’t ever spend money you can’t afford to lose, and that you only risk a certain percentage of your total available gambling funds, especially if you are someone who likes to play for a while.While it may sound like a boring concept, and to a certain degree it is, bankroll management is something that every professional gambler will tell you is of the utmost importance when it comes to the keys to their success.
Why is Bankroll Management So Important?
If you want to enjoy your online casino experience without ever running the risk of losing too much money, or tainting your play with big losses you didn’t intend on, bankroll management is a vital tool.Bankroll management allows you to take control of your finances, and play for a longer period while reducing the risk of big losses. This will lead to you developing a better mind for gambling, and soon, bankroll management will start to come naturally to you.
How Does Bankroll Management Work?
The concept of bankroll management is personal to each player, you know how much you have, and how much you can afford to spend.However, there are two main schools of thought to be aware of. The first involves depositing large amounts and spending wisely.Let’s use £1,000 as an example here, this is the amount you have deposited, now you have to play smart to make that money last, that way you can afford deposit fees through numerous deposits, but also not burn all your money at once.Now, consider £100 of that money active, and play your favourite games, maybe start with high stakes, £5 maximum maybe, and play a few hands or spins of your favourite game. If you lose, lower the stakes, set targets for this, perhaps drop the stakes at £15, £10, and £5.This way, each £100 feels like its own, so you start to think of your money in sections as opposed to one lump.Then there’s the other way, where you deposit £20, for example, and make that your budget, if you lose it, you lose it, that happens sometimes.However, if you’re lucky, and you manage do double that £20 to £40, withdraw £20, you are now back to your original stake, but your bank account has already broken even.Keep doing this, withdrawing back down to £20 every time you cross £40, and you can build up a nice tidy sum for yourself while not risking any large sums of money.However you choose to handle your bankroll management, always make sure you are 100% in control of the amount you are spending.