The Online Casino Guide On How To Gamble Smarter: The Art Of Bankroll Management

Last updated on July 13th, 2024

Casino Bankroll Management

If you wish to extract the maximal potential of online casino gambling, the utmost imperative tool you can acquire is good bankroll management governance. It is safe to conclude that without a proper bankroll management technique, the chances of the casino emerging victorious are increasing with every minute you spend playing. Consequently, it is no surprise that all professional gamblers rely on bankroll management to get the maximum from their gaming experience. Yet, to learn how to govern your bankroll management, and consequently win at online casinos the very first thing you need to do is learn exactly what that is.

Bankroll management is the successful management of your gambling funds, without having to spend more than your initial designated gambling amount. Meaning that this type of management is the art of learning how to strategically place your bets, i.e. deposits so that you don’t have to spend more than you are prepared to. Moreover, not only does a proper bankroll management tactic save you money, but it also helps you to get the most out of your gambling session, regardless of whether it is an online or land-based casino.

Just keep reading and you will learn how to place bets, set your limits, keep your cool, recognize potential winnings and scams, and much much more. You will quickly learn that online casinos are not invincible, and a proper bankroll management technique can and will make the difference between a successful gaming session, and one of the worst gambling experiences of your life.

The Importance of Casino Bankroll Management

When it comes to reducing the risk when playing at any online casino, bankroll management is pretty much the essence. The best way to reduce the said risk is to make sure that your gambling funds never reach zero. Many players that set a certain gambling amount aside usually tend to spend the entire amount, justifying the action through the purpose of the designated gambling fund. Well, that is a huge mistake. You should always aim to disperse your gaming money as much as possible. If you put all amounts on one spin, or a single wager/deposit, even with a 50/50 model there is a huge chance you will lose your money.

However, should you place a small and unsubstantial amount instead, then not only do you increase your chances of playing longer, but you can also learn the game better, and make some money while you are at it. Just take a look below at the most important guidelines that make for proper bankroll management:

• Longer Playing Time – reducing the risk equals more playing time, and managing the funds properly is the safest way to maintain a longer gaming session.
• Track Your Gaming Activity – meticulously tracking every gaming session and its results can help you create a clear picture of both your good and your bad gambling habits.
• Have A Plan – planning before indulging in play helps to physically prepare for the session and saves money, that is why you should do your research on both the casino and the game.
• Leave Money In Your Account – try not to spend all of the funds at once, leaving some money in your account will ensure that you do not pay extra fees on your next deposit
• Learning The Game Of Patience – not only you will learn how to manage your gambling money, but you will also learn what it takes to conquer one of the life savers in gambling, patience.

How To Successfully Manage Your Bankroll

The best way to start your way into online casino bankroll management is to simply start with smaller amounts. Meaning that you need to take a small part of your total gaming fund, and start playing with that. According to the majority of professional gamblers, the perfect amount is somewhere around 10% of your total amount. This means that if your gaming fund is $1000, you are only going to play with $100. By doing this, you exponentially reduce the risk of losing all of your money in one sitting.

And even if you happen to lose all of the $100 at once, the best course of action is to simply get up and leave. It is always smarter to live to fight another battle, rather than lose your money irrationally. And that is absolutely critical in online casino gambling. Hotheads lose far more often than calculated players, and that is a fact.

In other words, bankroll management is all about using common sense.

If you play online slots with a budget of $100, you can set the spin value at a minimum, which for some slots is as low as $1. Meaning that you have 100 guaranteed spins. Same with blackjack, where if you are playing at a table where the minimum stake is $1, you should have enough money to get you through 50 hands.

You can personally plan your gaming, and the best way to do so is by setting limits. This means that you can set a $100 win limit, where only if you win more than that limit you will increase the stakes per hand, and seek another table. However, the same applies to losses, where you can set a lower limit that will remind you when to stop playing or go back to a table with a more affordable staking limit.

Bankroll Management Strategies

Fixed Stakes Strategy

The easiest and the most basic strategy to successfully conquer bankroll management and implement the skill at your favourite online casino is fixed stakes. In other words, you should set a wagering/depositing limit to a predetermined percentage of your existing bankroll. This means that if you have a bankroll of $1000 and a fixed stake of 10%, the highest bet you should make is $100, and nothing above.

Thanks to fixed staking, as your winning streak continues, so will your maximum bet, and consequently so will your bankroll limit. And this also applies to losing. As your maximum stake gets lower, so will your bankroll extend. To sum it up, fixed stakes are the fool-proof way to ensure that you are starting properly with the basics and essentials of bankroll management.

The Kelly Criterion Strategy

The Kelly Criterion is a mathematical formula that advanced online casino players use to calculate the chances of winning so that they can get the recommended wager amount. Just take a look below at the formula to calculate this system:

1. Multiply the winning chance by calculating it as a percentage, divided by 100. Afterwards just multiply the amount by the stake you play to win, with the winning chance from before.
2. From this number, subtract the losing chance, also as a percentage, and also divide by 100.
3. Divide the number that you get by the multiple of the potentially winning stake.
4. Afterwards, time (x) this amount by 100.
5. The number that you get is the bankroll percentage you need to stake. If the number comes out negative, that means that there is no value whatsoever in placing the bet.

While the Kelly Criterion works best with bigger wager amounts, there are some things you need to know. The number one priority for this system to work is to predict the winning chances of the bet. More importantly, make sure that the number is 100% accurate, or else the formula won’t work. Another thing you need to mind is the aggressive nature of this type of bet.

This can result in you losing huge chunks of your bankroll percentage in one wager. That is why the majority of professional gamblers opt for the ‘fraction Kelly’ approach. Through this method, the player bets just a small part of the stake that the formula suggested, and in most instances that amount is usually half of the wager.

The Fibonacci Strategy

Drawing inspiration from nature, the Fibonacci strategy is fairly simple. The way it works is that each number is the sum of a previous couple of numbers. In particular, it goes like this: 1, 2, 3, 5, 8, 13, 21, etc. Well, players use the same principle for tailoring their strategy. Specifically, for each win, you move one step up, and when you lose, you go two steps down.

The only drawback with this system is that it doesn’t take into account the value of the win and the odds of the bets. Aside from that, this is one of the most profitable strategies, but that is if you hit a winning streak. In any case, far less complicated and risky than the Kelly Criterion, yet it still demands respect and planning.

Tips & Tricks

Do Your Research

We do not need to stress the importance of conducting the proper research before indulging in spending your hard-earned money. Especially when it comes to online gambling and managing your bankroll. Thanks to the internet, every piece of information is literally just a few clicks away. Just go to Google, or any of your favourite internet browsers, and type exactly what you wish to know about bankroll management or any other matter concerning online casino gaming. Also, you can consult with a more experienced player, or visit a gambling forum and join a community that discusses the topic you wish to explore. There is no shame in asking for help, especially when it comes to your hard-earned income.

Know Your Budget

There are no words to explain how important is to be aware of your income, i.e. budget, and this perfectly reflects on your bankroll management skills. Due to the addictive nature of gambling, players can lose track of even the simplest things, and one such example is the funds. That is why the experts always do the math beforehand, to know how much exactly they can put as their bankroll.

The best course of action is to predetermine the bankroll amount and to set a fixed monthly amount specifically for that purpose. Just make sure that the amount is a small part of your overall income so that it won’t affect your day-to-day spending habits. Gambling is about being in control of your actions, and setting a limit will definitely help you quit while you are ahead. After all, the fact is that you are going to lose, it’s just all about being smart about it and turning it to your advantage.

Prepare Stop-Loss Amount

Speaking of limits, setting loss and win limits is imperative to run a successful bankroll management strategy, and consequently keep your bankroll. When you set a loss limit, you should instantly stop playing when you spend more than the limit you set. The convenient thing about this is that you can set the limit on any amount that you please. You can even set loss limits by dividing your bankroll into smaller components, such as for one day, or one session, for example.

The win-loss limit is definitely the one that most players tend to avoid. However, while it may sound funny to put a limit on your winnings, many studies show that the vast majority of casino players are more likely to lose the winnings, rather than immediately withdraw them. The purpose of win limits is to assist you in not over-indulging in playing after a big win. Instead, with a win limit, you can stop while you are ahead and consequently reap your reward.

Find The Right Game

This seemingly insignificant matter can make the difference between a successful and a disastrous gaming experience. That is because not all games at the casinos come with the same house edge. For those not familiar, the house edge is the mathematical advantage that casinos have over the player. And the interesting part is that the house edge varies depending on the game in question.

From here, there are two types of house edges, and those are low and high. Some of the most popular games with lower house edge are blackjack, poker, baccarat, and craps. The high-edge casino games, on the other hand, are keno, Caribbean stud poker, slots, and American roulette.

Moreover, you should be aware that the house edge for both groups of games will be different for every bet. For example, the game craps come with one of the lowest house edges on the bet, but only under the condition that you wager on the odds bet, or they don’t pass the line, and nothing more.

That is why we always suggest you take extra time to learn about the details and the mechanics of the game you are about to play. Especially since that information is always available when it comes to online casinos. In other words, by finding the right game for you, you greatly increase your chances of running a successful bankroll management campaign, just like professionals.

Start Small

Don’t spend all of your gaming funds at once. Not only you will save money, but it will also save you a lot of anxiety. The best way to start in proper bankroll management is to start with small amounts. And that is both for the bankroll and the wager amount.

Select the smallest value of the wager/spin/bet if you are not familiar with the mechanics of the game, or the casino for that matter. As you learn the trade, you will gradually increase the deposit and bankroll amount, until you find what suits you best. Just remember the famous quote by the U.S. NAVY Seals: Slow is smooth, and smooth is fast.

Record Your Activity

Keeping a record of your entire gaming activity may sound pointless, but it actually is one of the best ways to run professional bankroll management. And when we say record, we mean literally every action, or cent for that matter, that you invested in the art of online gambling. Regardless of whether you create an Excel document or use pen and paper, writing down how much you spend is imperative if you wish to master bankroll management. Just take a look below at some of the most important things professionals tend to write down when creating a strategy.

• Budget
• Bankroll Limit
• Deposit Amount
• Withdrawal Amount
• Time & Day
• Casino Operator
• Banking Method

These are just some of the bare essentials that will help you create a profile of your gambling style. Consequently, if you perform this action with diligence and consistency, you will quickly learn everything about yourself and your gambling habits. And the first step towards winning at online casinos is to know yourself and your abilities.

Keep Your Cool & Take Your Time

Gambling is all about having fun, and if at any point it doesn’t feel like that, you should immediately get up and stop. The reality is that everyone that plays at an online casino, loses. And that is a guarantee regardless of the strategy, approach, or experience that you have at your disposal. The key is to remain calm, and above all, consistent. That is because certain strategies may not show results at first. Just as with anything else, it takes time and effort to find what suits your gaming style.

To become a true professional and expert in bankroll management, learning with time and from past experiences is crucial for every casino player. The more time you spend cultivating your craft, the better you become. Just do not let gambling affect your life or the relationship with your loved ones. Above all, this is for entertainment purposes, and nothing more. As such, it should serve you, not the other way around.

Final Thoughts

Simply put, bankroll management is one of the best ways to protect yourself from the tricky nature of any given online casino. Considering that all casinos are using algorithms to have an edge over the player, bankroll management shields you from overspending. And that is because the entire concept of bankroll management is to simply know yourself.

If you know your spending habits, temper and abilities, then you have nothing to worry about when it comes to conquering the art of bankroll management. That is because every bit of information that this skill requires is already available, you just need to know where to look. Consequently, it applies to both the casino mechanics and most importantly, your character.

Do not let a losing streak deter you from your strategy. Losing is a natural part of life, and that amplifies greatly when it comes to gambling. Keep track of your surroundings and your gaming funds. Half of any successful bankroll management strategy is having the right information, at the right time. That is why you should always do proper research and take time to read about user experiences beforehand.

You will find that many expert bankroll managers and gamblers were at some point just like yourself. However, being determined makes the difference between a regular online casino player and a member of the elite. We hope that you will use this bankroll management online casino guide as your personal assistant in your next casino quest. Good fortune!