Casino Bankroll Management Tips

 

Whether you’re considering playing at online casino’s for a part-time or full-time income or whether you just play occasionally for fun, it’s a very good idea to have an idea about proper bankroll management.

Your bankroll is quite simply the amount of money you have available to play with at the casino. This bankroll should always and only be money that you can afford to lose. Do not gamble with your rent money or your retirement savings.

Look, if you just want to gamble at the casino and don’t care about the outcome, by all means take an amount of money and have fun with it. However, if you go to the casino with the aim o playing with strategy and a plan so that you can come back as a guaranteed winner over the long run, you need to do things differently.

Playing The Percentages

Considering the nature of casinos, it’s only natural that you are going to win and that you are going to lose. To prevent yourself from going broke in the times that you lose, you need to have a strict money management system.

I’d recommend sticking only to Blackjack and Poker at casinos since they are the games where you can apply a strategy to minimize the house edge and maximize your own returns.

Let’s take as example that you have $10,000 as a bankroll dedicated to casino play. With this bankroll you do not want to risk more than 5% on a single given trip to the casino. That means you can take a maximum of $500 to the casino with you. Even better is if you can set that risk at 3% of your bankroll per casino visit.

At 3% it means that you can have 33 consecutive losses before you are completely broke. The chance of having 33 consecutive losses is almost zero, especially if you stick to Blackjack and Poker and stick to optimal strategy (this means perfect basic strategy and playing only strong starting hands).

Another thing that you can do to increase your chances of being profitable is to not have more than one casino session in a day. If you lose, you lose and wait for another day. This also works in your favor because it prevents you from playing when you are tilting due to your earlier loss.

In the game of Blackjack it’s quite possible to lose 10 or 20 consecutive hands, so with a $300 daily bankroll you should be betting with $20 or less per hand. When the cards are cold, be less, when the cards start getting hot, bet big.

You should also have an exit strategy. If you start with $300 and run up to $500, you should not drop below $350 again. If you run up to $600, maybe it’s time to quit.

To Sum Up

By applying his strict system of money management and bankroll management it’s really possible to make a long-term profit from playing at the casino. Remember that as your bankroll gets bigger, so do your winnings, so there is really no limit of the amount of money you can make from a casino. However, it really takes discipline to stick to this money management principle.

Risk a maximum of 3-5% of your bankroll on a given day.
Don’t have more than one casino session per day.
Stick only to playing Blackjack and Poker.
Stick to basic strategy and strong starting hands.

Another excellent tip to increase your profitability is to take advantage of the bonus offers that online casinos offer you.

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