Your bankroll management or your budget on online casino platforms like Casinozer is not only important for your financial health, but also to evaluate your losses and gains in order to maximize your return on online betting and casino games.
In this article, we will explain the concept of a casino bankroll, as well as our best tips on how to best manage it to help your betting.
What is bankroll management?
Bankroll management at the casino is simply the way in which the player will manage his money, his deposits, his stakes and his withdrawals. This term is use most of time for poker playing.
Before we go into more detail, we need to define the main terms.
What is the bankroll?
In the casino, the bankroll (BR) is the amount of money a player decides to spend on betting. It consists first of all of setting a budget (specific to each player) dedicated to online casino games or to sport and esport betting.
A BR must therefore be a capital that the bettor can afford to lose without endangering his financial health.
A certain amount must be fixed at the beginning, we will see a little later how to establish this amount. Once launched, the amount of the bankroll will grow and will therefore be made up of amounts from bets. Thus for each bet or wager, the amount of the BR will be deducted and for each win, the amount of the bankroll will be added.
This implies that the player must set limits, particularly in terms of the amount of funds not to be exceeded, so as not to put himself in financial danger.
Unfortunately, playing without capital is a very common mistake among online casino players. For example, players will make bets, lose some of them, but only remember the winning bets. They deliberately forget their failures and do not see that on their bankroll they are ultimately losing despite some wins.
Good management allows you to monitor your losses and gains over the long term and keep a kind of balance sheet. The player can easily see if he is finally winning on his bets or not.
This is particularly important if he does not want to exhaust his capital quickly and make the most of it. Bankroll management consists of setting limits and rules for the player regarding the allocation of his resources and funds available for gambling and sports betting. It is also known in gambling jargon as the betting plan, which sets the amount to be bet on each game.
This betting plan incorporates two parameters:
- The betting units
This is a unit that corresponds to a percentage of the bankroll. As a rule, this ranges from 1 to 5%.
- Bet tracking
The monitoring of bets, wins and losses allows you to have an overall view of the way you bet and to adapt a betting strategy according to the results.
Bankroll management allows you to stay in the game as long as possible by playing according to the size of your budget in order to minimise variance.
What is the betting unit?
Finally, we need to define what a betting unit is. This term is very important to understand in order to set the limits of your bankroll and thus ensure good management of your capital. As seen previously, a betting unit is a percentage of the BR which will be a basic reference for placing the amount of a bet.
Thus, we do not talk about the amount of money, but rather about the betting unit. We consider that a bankroll is worth 100 units. The betting unit will be the percentage of this amount set by the bettor.
To determine the percentage that a betting unit is worth there are 2 possible methods:
- The fixed unit
This is the simplest method to use. With the fixed unit, we will consider that a unit will always be worth xx euros. For example, on a bankroll of 1,000 euros, 1 unit represents 1% or 10 euros.
The principle of the fixed unit is that no matter if your bankroll decreases or increases the betting unit remains the same. So if your bankroll goes from €1,000 to €500, with the fixed unit the bettor will still bet €10. The same applies if your bankroll increases from €1,000 to €1,500.
Although this method is easier, it has its limits, especially in case of a significant increase or decrease of the bankroll. Because in this case the betting unit is no longer adapted to your capital and it is no longer the optimal method for maximizing your winnings.
- The variable unit
The principle of the variable betting unit consists of adapting your betting unit to the amount available in your bankroll. It can be considered that whatever the amount of capital available, the unit will be equal to 1% of the amount.
Let’s take the example of a bankroll of €1,000 and 1 unit = €10, i.e. 1% of the available capital. Let’s imagine that you have increased your bankroll to €1,500, with the variable unit method, then the new stake will be €15. Conversely, if your bankroll drops to, say, €500, then the stake unit will be €5.
The advantage is that in case of a series of victories, your capital can increase very quickly and thus your betting unit can quickly be multiplied and bring you more profits.
How to manage your bankroll?
Now that you know the terms, it’s time to see how to apply them in a concrete way. Here you will find our best tips for setting the amount and ensuring good management throughout your gaming sessions.
Establish your starting bankroll
To get off to a good start, the player must set the amount of his starting bankroll. The amount should not be allocated randomly and should be set according to household income and expenses. The player can decide to allocate a weekly or monthly budget, with the necessary limit of not exceeding this budget.
There are two approaches to investing your bankroll:
- The theoretical approach
This consists of having the desired amount of money available in real terms. If, for example, you want to start with a BR of 1,000 euros, then with this approach you must have this amount. So if you don’t have that amount, you have to save it up and place it with your Casinozer bookmaker.
- The empirical approach
In the empirical approach, the player sets the amount of his bankroll according to his betting habits. This means that if he plays and places bets once a day, betting €10 each time, then he will be able to determine the amount of his BR needed, which is €1,000.
The difference between the two approaches is that with the empirical approach, the player does not need to have the desired bankroll amount in real terms. This amount will then correspond to what he is willing to lose by playing.
The advantage of the empirical approach is that you do not have to have the actual amount of your BR at any given time. The amount of the RB is virtual and corresponds to what one is willing to lose in the bets.
Our tips for bankroll management
Now we will give you our best tips for managing your bankroll in the long term.
- Set limits for yourself
As we have seen, the most important thing is to respect the budget and game limits you have set for yourself. This will allow you to know when to stop playing before you lose your entire bankroll. It also ensures that you don’t gamble on negative or positive emotions or false impressions.
- Adapt your bets to your bankroll
In order to play longer with your starting bankroll, it is advisable to adapt your bets to the amount of the available balance in your player account. For example, if you have a small starting balance, it is advisable to make small bets of 10 or 20 cents to try and unlock bonuses and free spins as you play.
Indeed, the risk of betting big stakes like 50 cents and 1 euro is that you will consume your entire starting balance without getting any bonuses.
- Not chasing losses
One of the main mistakes that casino players errors is trying to chase losses. This means trying to make up for the money you wagered and lost by playing again. It is advisable to stop playing when you see that your gaming session is losing. In trying to make up for losses, the player tends to play more risky and aggressive and will lose his entire bankroll.
- Make frequent small withdrawals
If you are a regular player and you are slowly building up your winnings, then we advise you to make regular casino money withdrawal. Players have a bad habit of continuing to play and bet even if they accumulate large amounts, risking losing everything and not having enough to withdraw.
For example, you can withdraw your balance, when it is higher than the starting balance. Or you can only withdraw your winnings, leaving your bankroll intact for future play.
- Only play what you can lose
This is the most important advice to follow, as gambling and casino games should remain a source of entertainment and not a reliable way to make money. So it is not recommended to play at online casinos if you are already facing financial problems. Gambling is not a solution.
So, if you have a small budget, you can of course deposit small amounts to play small bets without exceeding the budget set at the beginning.
The benefits of good bankroll management
Thanks to our advice you can now set an amount allocated to your entertainment (without falling into gambling addiction), and manage it in the best possible way to maximise your chances of winning. This also brings a number of benefits to the player, and will help him/her to improve his/her overall playing and betting strategy.
The main benefits of bankroll management are :
- Limiting losses
If you are in a situation of a series of losing bets, bankroll management allows you to avoid a series of failures and to stop in time.
- Avoid chasing “big wins
Out of overconfidence or to make up for losses, the player may be tempted to bet big and therefore take the risk of losing big too.
So following the rules you set for your bankroll will help you not to let your emotions get the better of you and always play rationally.
- Increase your bankroll
By applying a monitoring and strategy in the way you place bets, your BR will inevitably increase in the long run. With this increase, well your betting unit will also increase accordingly.
- Surviving losses
One unlucky hand, one misplaced bet and the whole budget can go down the drain, causing the player to make a new casino deposit and perhaps exceed the amount he or she had set aside for gambling. A good bankroll management will allow players to play with a solid base that will allow them to easily leave with a minimum of security in case of successive losses.
We hope that this article has been useful to you, and we look forward to seeing you on Casinozer to discover our best Megaways casino and Yggdrasil casino games. You can also find other guides and tips on our blog like the different poker playing styles.