Sharpening Your Bankroll Management Skills as an Online Gambler

Whether you’re new to online gambling or a seasoned pro, proper bankroll management remains one of the most critical skills to master. Your bankroll represents your gambling budget and lifeline—mishandle it, and you could find yourself sunk in short order. But arm yourself with savvy bankroll strategies, and you’ll give yourself the staying power to ride out any bad beats until the cards turn back in your favor.

Let’s explore some advanced tips to stretch your bankroll at Botemania and ensure you have ample funds to place smart bets for the long haul.

Set Aside a Dedicated Gambling Bankroll

The foundation of virtually all bankroll advice involves creating a dedicated gambling fund entirely separate from your everyday expenses and savings. Consider this money already spent—assets you can afford to lose without damaging your financial stability or ability to cover necessities.

Many experts recommend having at least 100 betting units as your starting bankroll minimum. So if your average wager size is $10, begin with at least $1,000 reserved for gambling purposes before hitting the virtual felt or tables.

Choose Bet Sizes Suited to Your Overall Bankroll

To reduce variance and risk of ruin, restrict your average bet size to no more than 1-2% of your total bankroll.

For example, if you have $5,000 set aside:

• 1% of $5,000 = $50
• 2% of $5,000 = $100

So wager no more than $50-$100 per bet until you’ve rebuilt your bankroll. This prevents a couple of bad outcomes from wiping you out completely.

Of course, as your profits allow your bankroll to grow over time, you can then gradually increase your betting amounts while staying within the 1-2% recommendation.

Know When to Step Back and Replenish

Even with the best intentions, every gambler hits rough patches that hammer their bankroll. Rather than chase losses and throw good money after bad during the depths of a downturn, smart players identify rebuilding benchmarks that signal it’s time to stop playing and replenish their bankroll before returning.

Many professionals suggest temporarily stopping if your bankroll dwindles by 25-30% or more from its high point. So if you had built a peak bankroll of $5,000, pause playing if it shrinks below the $3,500-$3,700 range.

By resisting the urge to dig yourself into a deeper hole, you’ll be well-funded and clear-headed when you revisit your favorite games.

Set Reasonable Winning Expectations

Assuming you’ll win every session or recoup all your previous losses in one epic heater is a recipe for disappointment and reckless play. Be realistic that even winning long-term players see plenty of short-term downswings between hot streaks.

Set modest goals, like aiming to finish each week or month slightly up rather than exponentially bigger. Small incremental profits lead to superior overall returns without putting undo pressure on yourself during adverse stretches.

And importantly, withdraw a portion of your winnings regularly so they don’t simply fuel bigger bets. Protect those hard-fought profits rather than giving back hard-won gains on future gambles.

Avoid Chasing Losses by Sticking to Your Stop Loss Limits

Speaking of hard losses, nothing torpedoes a bankroll faster than attempting to chase them with increasingly reckless wagers. Before you ever place a bet, establish a stop loss limit for the session to mitigate any emotional overreactions.

If you reach that loss benchmark, log off and walk away for the day—no exceptions. Chasing is almost certain to dig your hole exponentially deeper. By predetermining your cut-off point, you’ll restrict damages to manageable levels until you replenish and restrategize with a level head.

While no universal metric fits all players, common stop loss thresholds range from 50% of your session bankroll to dropping three buy-ins at a given table game or limit.

Mastering advanced bankroll strategies like these offer online gamblers their best opportunity to navigate the inevitable ups and downs inherent to this exciting form of entertainment. Don’t let the swings wipe you out unnecessarily when a few sensible precautions go a long way.

Bankroll Recommendations by Game

Game	Bankroll Requirement
Online slots	300-500x maximum bet size
Blackjack	100x maximum bet size
Roulette	200-300x maximum bet size
Video poker	500-1,000x maximum bet size

Key Takeaways

• Set aside a dedicated gambling bankroll you can afford to lose
• Bet only 1-2% or less of your total bankroll on average
• Stop to replenish after 25-30%+ losses
• Withdraw winnings; don’t use them just to fuel bigger bets
• Establish reasonable profit goals and loss limits before playing

 

Last Updated on September 18, 2024