The Internet is crawling with guides on how to manage your bankroll while playing at a casino or how to place bets on sports properly. Such “guides” provide you with basic information - which might have been transparent to you long before you read about it - and don’t reveal the genuine essence of gambling.
Any successful bookmaking company or casino exploits your emotions, compelling you to wager more and more regardless of your winning or losing streak. It’s a sort of playing on your feelings that are peculiar to all gambling people. And while it happens without the direct influence of the betting companies, gamblers do it subconsciously, craving to recoup the losses or gain even more winnings.
This article is aimed at unveiling all the ins and outs about how to reasonably manage your bankroll. This piece of advice will be of great use to you and help you win any game unless you’re engaged in family table games with your grandpa.
Gambling as Entertainment
Many people consider gambling as a source of income, neglecting the fact that almost all casino games are unbeatable. Games like slots, blackjack, and roulette are designed in the way that they are profitable for casinos, meaning that you can’t win in the long run. However, if you start considering gambling as entertainment, your gaming experience will change dramatically.
Before going to a cinema or buying a new book, you assess how much money you can afford to spend on it. This is some kind of a bankroll management for the things you like. If you start applying the same approach to gambling and spend no more money than you set aside, you’ll be enjoying your gaming process. Moreover, in contrast to other forms of entertainment, gambling is lucrative. You’ll always leave the casino with winnings in pockets.
Now, when you’re aware of the primary way to gamble, let’s find out how to make your gaming process effective and profitable.
Slots Bankroll Management
There are many websites that suggest betting 5-10% of the size of your bankroll while playing slots. This actually means that if you confront 10-20 “unlucky” spins, you are broke. Needless to say, this strategy is far from being right.
If you want to win on the slot, you should have at least 100 spins in reserve, which is equivalent to 1% of your balance. Regardless of your starting bankroll, this strategy seems boring, as the wins you hit while playing with 1% of your balance are tiny. However, given the bonus round that virtually every slot has, it will pay off pretty well in the long run.
Table Games: Know Your Limits
While playingtable games - whether it’s poker or blackjack - the money management doesn’t radically differ from the slots. You should split your bankroll into small bet amounts. It may seem tempting to place a big bet, and you have a free hand to do so provided that you’re poised to leave the casino in a matter of several minutes (either with a win or a loss). The odds of winning with such a strategy, however, are very small.
When it comes to No-Limit Hold’em, your chances of winning in the long-term perspective are higher if you play the games with a limit of 0.4-1% of your bankroll. For example, you have $50, play the $0.02 / $0.05 games with a buy-in of $5; or suppose you have $1,000, then you should play the $0.5 / $1 games with a buy-in of $100). There are numerous poker titles with different rules, but all of them are subject to one simple guide: never bet more than 5% of your bankroll if you want to capitalize on the game you play.
As for the Roulette, it’s a game where you can easily get carried away. Sometimes you can’t resist the urge to play it again and again, and thus, lose track of your bankroll. That’s the primary mistake prevalent among punters. In order to avoid disappointments, you should always keep your wits about you and control your emotions. Whatever type of the Roulette you play, it’s a game of chance (like slots), meaning that your winnings depend on your luck. So, consider the Roulette as a way of having fun, and don’t allow your single bet exceed 2-5% of your bankroll.
Sports Betting Sites: How to Win
Betting on sports depends on your mindset as well. If you’re on a winning streak, you subconsciously want to win even more, while when you encounter several losses in a row, you want to recoup them. Emotions won’t help you win; learn how to get rid of them while betting on sports. First and foremost, split your bankroll into the 100-unit size, so that you can calculate your bets based on units rather than in monetary value.
The next rule is to bet 5% of your bankroll, regardless of the odds. Adhere to this principle and never deviate from it; otherwise, you don’t stand a chance against bookmakers.
Now, a good betting is the one which has been thoroughly deliberated. Rummage through many bookmaking companies, compare the odds, and above all, make your own judgment. You should be sophisticated in the niche you place bets on.
Bankroll Management: Summary
Summing up everything mentioned above, you should keep a watchful eye on your gaming process. Whatever the game is, consider it as entertainment and never bet more money than you can afford to lose. Gambling is exciting, don’t let it swallow your common sense.