Managing your bankroll
Managing your bankroll (playing funds) is crucial to your long term success
as an online gambler. Gambling online is similar to taking a long trip in your
car. Before you leave, you estimate how long it should take you to get to your
destination and how much gas you'll need. Then once you set off, you keep an eye
on your fuel consumption to ensure that you don't run out of gas before you
reach a station or your final destination. And you check your speed to save gas.
I say obviously , but every day thousands of motorists run out of gas and have
to hitch a ride to the next gas station. So too do many online gamblers sign up
with online casinos, deposit playing funds and then dive in too eagerly, with
perhaps too big of a splash. In other words, they eat through their bankrolls
far too soon because they are either betting too high, too fast or too
recklessly (or usually a combination of all three of these) in the hope of
winning big in a flash.
While this can and does happen, it happens all too rarely. The reality is that
in both land and online casinos managing your bankroll poorly will usually
result in you losing your money extremely quickly. So you may be wondering what
exactly you can do to manage your bankroll effectively? Well, the good news is
that there are a few quick and easy steps you can follow to help ensure your
bankroll sticks around long enough for you to enjoy and hopefully win from.
First, and probably most importantly, set a session or daily limit and stick to
it no matter what. Second, check your bet sizes and wagers. Divide your session
or daily bankroll with the maximum bet of the game you're playing (with a coin
or chip size you're comfortable with) to see how many bets you can make. More
bets means longer play, and thus a greater chance of winning. And three, cash
out your winnings there and then instead of feeding them back into the game.
