Why do most players always end up losing all their money? Poor bankroll management. Learn how to manage your casino bankroll like a pro with these tips.
If your player account balance always ends up empty before the night is over, you may need to rethink your casino bankroll strategy. But if you want to make the most of your money and bring home profit, know that applying a smart way to manage your gaming funds is essential. Here are five bankroll management pro tips casino players like you should apply.
1 | Research the Games You Want to Play
Whether you are fond of slots, table games, or video poker, it is worth doing some research. Diving into a game without knowing the rules is a surefire way to drain your bankroll dry. Even if you consider slot as the simplest game to play, it is more than just clicking Spin and seeing if you are a winner.
Slot game players should know the different types of games worth playing; the same way a poker player should enter the casino with his poker face on. Your research should ideally contain the rules of a certain game. If you play slots, take the time to check if someone has written a review on the game. Research can make a world of difference between knowing which slot is best for your bankroll and knowing which table game gives you the best odds of winning.
2 | Set a Time Limit (and a Bet Limit)
In a brick-and-mortar casino, running out of money means you are done for the day. When you play in online casinos, you can play any time you want. But this is also an easy way to deplete your bankroll quickly. One solution is to set a time limit for your game sessions. This might not work though, if you tend to make high bets in a short time period. If that is the case, then it would be better if you also set a limit to how big your bankroll will be for every game session. That way, you can concentrate more on extending your bankroll for as long as possible.
Additionally, having a time limit means you can take a break. There are times when emotions run high when you play in an online casino, especially during a winning or losing streak. If you notice yourself hitting Autoplay instead of enjoying the slot game, take a quick break. Switch to playing a different game, like blackjack or baccarat. Games that require you to make a decision may refresh your mind before returning to slots.
3 | Keep Part of the Winnings
While it is tempting to use your prize money to hit a larger jackpot, it is recommended that you set aside a part of your winnings. By doing so, at least you are sure you will finish the night with a profit. Pushing your luck might cause you to lose your win. If using the leftover money in your online casino account is too tempting, consider withdrawing a part of your winnings immediately. Once you see the cash added to your bankroll, you can eventually give yourself a treat or use the money to finance another gaming session in the future.
4 | Claim the Right Bonus
If you want to play for real stakes without using up your bankroll, know that welcome bonuses may always come in handy. A welcome bonus is free money that the online betting site gives you so that you can try more games. Some welcome bonuses require you to make a deposit first. If you are lucky, you might find an online betting site that offers a no-deposit bonus and free spins.
Keep in mind, though, that bonuses differ from one casino to another. It is best to read the bonus terms and conditions before claiming any incentive. But if you know which rewards to claim, you can end up with a huge win without denting your bankroll at all.
5 | Do not Chase Losses
When you are in the middle of a losing streak, you may be tempted to increase your wagers just to see if you can get another huge win; or, at the very least, break even. This is dangerous, because you can lose more as your bet increases. It is better to limit your losses by playing at the minimum bet. But if it looks like your losing streak may last a while, consider ending your gaming session. You can always come back later and see if Lady Luck favors you then.
When you master proper bankroll management, you will be able to keep losses low and stretch your bankroll more while playing your favorite games. As some veteran casino players say: Sometimes, one of the best winning strategies you can use is being a smart player—a player who knows how to handle his gaming funds like a pro.