How To Manage Your Bankroll in an Online Casino
Gambling has a way of catching up with you in a moment: it's easy to get carried away by a good run or feel you need to chase losses. Planning your approach before indulging in a game of chance goes a long way. You can prolong your enjoyment of gambling and avoid losing more than you can afford.
Being aware of your bankroll in an online casino in 2023 is just as relevant when having a flutter online as it is in a real physical casino. This casino bankroll guide will help you apply your own strategy, to have the best gambling experience of your life!
Strategies for Everyone
It's important to play with a bankroll management strategy that you can remember, no matter how many drinks you've had.
Fortunately, it doesn't have to be an arduous task. Whether your wallet is about to burst, or you're picking pennies off the floor, setting appropriate limits is absolutely vital, pre-planning is essential.
What to Choose
Before you start playing for real money, find out how much you are willing to lose and prepare for the worst. If you don't have a large bankroll, extend your fun by placing low bets on casino games with a lower house edge, such as blackjack or roulette with a higher rate of return to the player.
Think through each decision and approach the gaming session with a clear mind. When playing for real money it is important to stay in control. Emptying that bottle of vodka before taking a seat at the (virtual) table will not help you make the right decisions to make the most of your time and money.
Odds are Everything
Remember that the casino is also there to win. In the long run, you can expect the casino to make a profit because of the house edge. Variance dictates that you can have a good run, but the odds are in the casino's favor. Learn about the casino advantage, think about your odds of winning in a given game, and plan accordingly.
Even players who win the jackpot and huge casino bonuses can end up broke. It is not uncommon for gamblers to get carried away with winning where they lose all their winnings. Conversely, if you're thinking it wrong and not doing well, you don't think the next round will have your name on it. The odds of winning and losing are the same no matter what preceded.
Progressive Personal Limits
If you know you like to have long gambling sessions, you can impose personal progressive limits, based on setting a maximum figure for your losses in a given period of time.
For example, Mr. Johnson wants to play online blackjack for three hours. He has about €100,000 available and is willing to spend in the session (something we can only dream of). He decides to split his bankroll into three parts of about €33,000 per hour. Unfortunately, in the first hour, he seems to have a terrible streak that ends in losses of 50k.
Mr. Johnson is angry, but his plan allows him to adjust, and he opts to lower the stakes for the next hour. Unfortunately, he is still on a bad streak, but in the second hour, he has lost only 16k. Conveniently, you can now go back to your original 33k plan for the final hour of the session. And while this is not a true story, we promise it is based on a typical situation firmly rooted in reality.