Casino Bankroll Management
Bankroll Management is an Important Aspect for Winning Baccarat. Casino is a team of experienced professionals whose goal is to provide users with useful information from the world of gambling. With extensive knowledge and practical experience in this industry, we have focused on creating a quality resource for both beginners. Casino Bankroll Management Decide on the budget and stick with it. Before you start playing, you need to have a good look at your overall financial status and see how much you can afford to play with.
In this article we look at some basic steps you can take to ensure you do not go over budget yet still get the entertainment time you require from your Casino gaming. This article does not go into optimum play strategies or individual game strategies as it is written for those who primarily see gambling as entertainment but if you are new to online gambling or find you are spending more than you wish or getting frustrated with your experiences then please read on.
It may appear to be self-explanatory as to what a bankroll is but for the purposes of this article we shall define it as your total gambling budget for one week. It is important that when deciding upon your weekly bankroll you should budget realistically and sensibly and unless your financial circumstances change for the better or worse you should absolutely stick by it come rain or shine – come win or lose.
Once you have decided upon your bankroll the next step is to decide how many gaming sessions you wish to play in the week and for how long. I would suggest you play a maximum of 3 sessions per week as anything more is borderline compulsive – there is other entertainment out there you know! However, everybody’s situation is different and you will know what is right for you.
Okay, you should now know your bankroll size and how many sessions and for how long you wish to play. I will now give an example as to how you should develop your play strategy in order that you get the playtime you require for the bankroll you have.
Let’s assume your bankroll is $100 and that you wish to play twice in the week for two hours each session. That makes things simple in that we can divide our bankroll into 2 sums of $50 for each session. If things are more complicated for you in that you play more sessions and for unequal lengths of time then you should add your total hours for all sessions then divide your weekly bankroll by this figure and then multiply this number by the amount of hours you wish to play in a particular session to get your bankroll for that session.
For example we have a $100 weekly bankroll. We wish to play 2 sessions of one hour and 1 session of two hours. Total hours = 4. $100/4(hours) = $25. Session 1= $25×1(hour)=$25 bankroll. Session 2 = $25×1(hour)=$25 bankroll. Session 3 = $25×2(hours) = $50 bankroll. Of course we are assuming you are flat betting and playing similar games but more on this in a moment – now back to our original example of $100 and 2 equal sessions of 2 hours each which gives us 2 sessions at $50.
We now know we have $50 that we wish to last for 2 hours at worse or, the gambling gods be praised, wins us some more funds. From here we can calculate how much we should be betting on each game turn to ensure we get the full entertainment we desire. I will take this moment though to add the caveat that in gambling there are no certainties, all we can do is calculate for the average expected outcome but this is still an excellent way to manage your bankroll when entertainment is your primary goal.
So, now we must decide on the games we are likely to play, and again for the purposes of this article we will go with an example – this time video slots but the same strategy can be applied to other games. The question is how many turns per hour will we play on said game? A rough average for video slots is around 12 games per minute so 12 x 60 = 720 turns per hour but do the same calculation for whatever game you are likely to play. Since in our example we are playing for 2 hours we need to multiply our game turns by 2, giving us 1,440 game turns we will need to budget for but of course we do not expect zero return from all those games so now need to incorporate the HE (house edge) into our calculations and because of variance and to give us a little wiggle room we are going to calculate it at 10% though it may be closer to 5% in reality. To make the explanation easier I am going to use this convoluted method first then give the cleaner calculation. 10% of 1440 = 144. We now divide our bankroll by this amount $50/144 = 0.35c (rounded) per game turn we should be wagering if we expect to play 1,440 games at a 10% HE. To check this you can multiply .35 by 1440 which comes to $500 (rounded) expected total wagering over the 2 hour period which would result in an expected $50 loss (our total bankroll) at 10% HE. The cleaner calculation is to take our HE and divide that into 100 (100/10=10) and then multiply our $50 bankroll by this amount, ($50×10)= $500 wagering. We now simply divide by our total game turns, $500/1440= 35c (rounded)
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How you play that 35c in our example will also impact on how likely you are to get your required playtime and this is where variance comes in. More about this in another article but for simplicities sake we can say that playing 1 line at 35c is a high variance strategy where risk to your bankroll is much greater but so are the potential rewards while playing 5c at 7 lines would be a medium variance strategy and playing 35 lines at 1c would be a low variance strategy. Essentially, the lower the variance the more likely your bankroll will last but the harder it becomes to hit big wins.
Casinos are a great place to have a great time, but the fact of the matter is that these places can end up costing you a lot of money. Almost unconsciously, players can run through their bankroll and be left with nothing in their wallet. Even worse, there are people who run through entire bank accounts before they truly realize what they have done. Casino bankroll management is often an afterthought for people going to casinos, but it should be one of the first and only things you think about before setting foot on the casino floor.
In theory, managing your bankroll is not hard at all. After all, you’ve made it this many years with money in your bank account; how difficult could it possibly be to avoid running through all of your money in a single casino trip. While most people would agree with this school of thought, you would be absolutely surprised to see how difficult it is to abide by.
Know Your Strengths and Weaknesses
One of the best ways to avoid succumbing to a 0 balance in your bank account is to know what games to play and what games to stay away from. Roulette, for example, is a game of chance that absolutely no one can influence. What I mean by this is that no matter how many good luck charms and rituals you have, there is nothing you can do to make it more likely that the roulette wheel will stop where you want it to. Because of the randomness of the game, it is very easy to lose money quickly.
Roulette, to continue this example, is a game that offers some staggering odds on certain bets. Odds of more than 30:1 delude people into thinking they can win big quickly. The reality of the matter is that this rarely, rarely happens. Instead, you will see your bankroll dwindle to nothing before you ever land on a single number correctly.
Roulette is just one example, but it is a good one. You have to know what games are your strengths and what games are your weaknesses. It is ok to play a few spins of roulette, but when you are trying to make up thousands of dollars’ worth of losses, roulette is not exactly the best way to do that.
Know When to Walk Away
Though it is easy to win a lot of money in a short amount of time at a casino, it is even easier to lose absolutely massive amounts of money in even shorter periods of time. Even if you have historically performed well at a specific casino or while playing a specific game, the fact of the matter is that it is not always going to be your day. If you are running poorly and are seeing your money leave your hands, never to return, it might be a good time to call it quits for the day. That’s the thing about gambling though, because as soon as you think you are in control, you realize that the opposite is true.
It is very difficult to put into practice, but players have to know when they should walk away. Though you may only be down a few hundred dollars now, 15 minutes could see you lose triple that amount. It may have never happened to you, but there is story after story of players losing everything they own due to an elongated poor run at a casino. At the end of the day, playing casino games is not worth your whole livelihood. Managing yourbankroll really all comes down to self-control. If you are able to keep a rational view of your bankroll, and not one that assumes you are destined to become a casino millionaire, you will have a much easier time having fun and not going broke. If, on the other hand, your only goal is to strike it big, you may end up seeing your money evaporate right in front of your eyes. Gambling is not worth your life, so it would be wise of you to fully understand what you are getting to before you ever begin playing. Self-control is easy to say, but is not so easy to put into practice.
Casino Bankroll Management FAQs
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Should I hide my debit card to avoid taking more money out?
I suppose you can, but it is important that you master the art of self-control. It is up to you to preserve your bankroll, and only you can do that.
Am I a problem gambler if I run through my bankroll?
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Not necessarily, but if you are constantly reloading time and time again, you may want to take a step back and evaluate your situation.