INTRODUCTION TO BANKROLL MANAGEMENT STRATEGIES
So you've found your game, learned the essentials, gotten some experience by playing with play money or for low stakes and you now feel ready to take it that one step further. If you are serious about entering competitions and involving yourself in higher stakes games you will need to develop some kind of bankroll management strategy. Your bankroll is a term used by gamblers to refer to the money you have at your disposal for gambling. This can be a sum you have set aside for recreation and as such have no qualms about risking losing. Once paid it into you online casino players account you should understand that this is the only money you have available for gambling purposes and much make it stretch as far as you possibly can.
Essentially your ultimate goal is to see this initial sum grow to the point where you become able to begin siphoning off the profits you have managed to make off it and keep the bankroll you started with steady and untouched. In order to do this you will need to respect your bankroll and develop appropriate wagering strategies according to the casino bonus wagering requirements that will enable you to slowly begin to eat into the houses advantage. As we have alluded to elsewhere, even though casino games involve a great degree of luck and a house advantage that is inevitably stacked against you, they are open to players who play steadily and with discipline which over time allows them to capitalize on the fact that they are doing everything in their power to reduce the houses advantage. Serious casino gaming should be seen as a war of attrition, over time, if you employ suitable wagering strategies and a strong bankroll management technique you should see yourself starting to win. The following are some points that you ought to consider.
How much can you afford? The first issue is how much you can actually afford to gamble with? Never consider what you may or not win when calculating this amount. That is the most obvious way of getting yourself into financial hot water. The money that you use for your bankroll should be money that you do not need for anything else, which you have earmarked solely for recreational purposes and have decided upon using in recreational gambling.
So, you've settled on your amount, next you have to designate how long this amount is supposed to last for. If you don't do this then you can always keep topping it up as and when you lose and that could end up being catastrophic. If you were going to Vegas on a gambling holiday then designating this would be extremely simple, you'd have a certain amount of money that was supposed to last as long as the holiday did. Gambling online is different as you can play any time of the day or night and so developing a solid plan and being disciplined is essential. A good way to do this would be to settle on your bankroll for the month and then divide it into four, making sure you gamble only a fourth of it every week, topping it up only at the end of the month if you have spent it.
If you end up actually winning more, so that at the end of the month you have more than what you started with then you will not even need to top up, in this case you must work out a figure to reach, once this figure is reached then you can skim off the excess, cash it out and then continue to gamble with your initial bankroll.
It may sound very simple and even rather pedantic but you'd be surprised how many people go wrong by overlooking these simple matters. The cardinal rule of which is to never predict what you think you are going to win back, never use this as a basis for your calculations, and once on a losing streak, when in danger of eating up the whole of your bankroll then just stop and come back another day. Often the simplest advice is also the most useful.