Bankroll Management Tips for All Players

Date Published: July 19, 2013

For any type of gambler, your bankroll is the amount of money that you have set aside for playing games and gambling on the outcome. How you deal with this bankroll is a big part of whether or not you'll be likely to have success as a player. The whole point of having a bankroll is to keep your gambling money from being tied in with the rest of your money, so it also protects you from gambling losses that you can't handle. What we want to offer here are some practical bankroll management tips that anyone can use to make better decisions no matter how much money they have or what games they play.

The basic idea behind bankroll management is that you divide your bankroll into a number of equal parts, and each part represents what you're willing to wager on a single bet. The number of parts that you choose could be as low as 50 or as high as 500 just depending on the games you're playing, how much risk you want to take and whether or not going bust will keep you out of the games. If you're out of the game, then you can't win a big score, so it's better to be making small bets than no bets at all.

So the key to all of it is factoring in everything about you and your experience to come out at a good, solid number that fits you. If your number is too low, then you'll be taking on too much risk at once. However, if your number is too high, then you'll get bored. Games like slots that play very quickly over and over again should have a higher number than games like Baccarat that take a bit of time between hands. You'll end up wagering the same amount per hour, but the speed of the game has to be compensated for.

Other factors include whether or not you can replinish your bankroll if you lose it, the house advantage in the game and the game's volatility. The higher tha variance or the house edge, the more units you need in your bankroll. Also, if you can't replinish your bankroll if you go bust, then you should have more units as well. These are the basic factors that go into bankroll management, and they are what all players should consider.

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