Your Guide To Managing Your Gambling Bankroll
Bankroll management is about gambling online intelligently, responsibly and without undue risk. It factors in not just your game enjoyment and playing success, but also your financial stability and the risk of problem gambling behaviours that can arise if you get into debt.
Fail to master bankroll management quickly enough and your real money online gambling career could be over before it gets started. We’re going to talk about the fundamentals of bankroll management on this page, focusing on these important areas:
- The basics
- Common mistakes
- Top tips
What is an online gambling bankroll exactly?
Your bankroll is the total amount of funds you make available for gambling. This might be calculated for one hour of online play, or for longer periods such as a week or an entire month. It’s important to ensure this amount is money you can afford to lose.
If you’re borrowing these funds, from an overdraft or a credit card for example, the best idea is always to pay off want you borrow as soon as possible. If these funds are taken from your available cash flow, you need to make sure all other living expenses can be met and you’re not leaving yourself short.
The biggest bankroll mistakes
Play without a bankroll management strategy in action and you could find yourself casino bankrupt much earlier than you would have hoped. Here are some of the most common mistakes made by those who fail to plan (and thus plan to fail).
- Play a game like poker at the wrong stake level and you could priced be out of a game before it has reached a conclusion, thus missing out on a potentially big pot.
- Place a gigantic bet beyond your budget and you risk exhausting your entire bankroll in one bold move.
- Withdraw too much from your online casino account and you could leave yourself short on playing money. Withdraw too little and you could end up spending the profits that were supposed to go elsewhere.
- Start thinking you’re a World Series of Poker champion and it’s easy to go overboard with your betting strategy. Keep your mind focused and don’t get carried away.
- Playing simultaneous screens, or hands, is only a smart idea if you’re a online gambling genius with the brain for it. If playing multiple games is diluting your win percentage and running your bankroll dry too quickly, it’s probably a bad idea.
HINT: Always make sure your OS is up to date to get the best gaming experience
Top tips for bankroll management
Here are some bankroll management basics designed to start you off on the right path and get you thinking the right way about things.
- Work to set calculations that outline what a reasonable outlay should be in a single game. An example might be capping the maximum percentage of your bankroll being risked in one hand of poker at 5%.
- Set budget numbers that define your total bankroll for the month and, if necessary, also by the week.
- Pre-plan your casino withdrawal strategy. Outline the percentage of winnings or profit you will cash out, and the amount you will leave in to fund future games.
- Define your comfortable stake levels and stick to them. There are formulas that work to the bankroll required at each stake level, and you should be working off that 5% number for each table you play at. Don’t go too high.
- Try to stay calm and accept that your bankroll will fluctuate through wins and losses. Don’t let your emotions educate your betting decisions, and never push too hard to undo losses. There’s always tomorrow.
- Start out playing small stakes games and work your way up. There’s no better experience than playing time, and the more you play at the low stake levels the better your decision making will become.
Never stop learning
There’s much more to learn about bankroll management than we could fit on this page. We would advise reading the top poker and casino blogs for tips on the best bankroll strategies, and taking as much time to devour new information as you do playing at online casinos.
It’s impossible to overstress the importance of a strong online gambling bankroll management strategy. Ultimately it’s the foundation upon which all of your online gambling success will be built, and you need to make sure you get it right from the start.
Real money online gambling is more accessible in the UK than ever before, with players now able to enjoy the top casino sites from the convenience of their mobile devices, as well as their desktops and PCs. Real cash games like poker and roulette can be played wherever there’s an Internet connection, and with that comes a big responsibility in terms of how you budget.
Successful bankroll management is a betting strategy that gives you the best chance of gambling success within your budget. It takes in the stake levels you play at, the way you bet and even your approach to withdrawing funds from your online gambling account.
Once you’ve conceived the perfect bankroll management strategy for you, why not get playing at the very best real money sites the UK has to offer in 2020. Just reference our ratings and pick the one that appeals to you most.