Bankroll management is for everyone
Bankroll is the term used to describe the sum of money you use for betting
purposes, and it is a myth that bankroll management is only important for high-rollers. The odds of someone winning at a casino are not influenced by the amount that a person bets. So bankroll management is just as important for a player with a $100 bankroll as for one with a $10,000 bankroll.
Session banks will help you manage your bankroll better
What kind of bettor are you?
For the purposes of this short guide, we will present two different approaches to bankroll management - one for those with a low tolerance for risk
and the other for those with a higher tolerance for risk
Players with a low-risk tolerance
are those who want to bet as safely as possible, which means exposing themselves to a minimal level of risk and being content with more modest wins when they are successful.
Players with a higher risk tolerance
are those who are happy to take bigger risks in the hope of winning bigger sums, even if it means also having a higher chance of losing.
Both of these attitudes have their pros and cons, and neither one is better than the other, so you should be honest with yourself when deciding whether you would prefer to take a lower risk or a higher risk approach to betting.
The low-risk approach to bankroll management
This lower-risk approach to bankroll management aims to help you get as much entertainment value for your money
as possible and protect you from the risk of wiping out a large percentage of your bankroll should you have a losing session.
You should start by dividing your available bankroll by 10. For example, if you have a bankroll of $100, dividing that figure by 10 would give you $10.
This is your Session Bank.
You now know that you have $10 to play within your next gaming session. Divide that sum by; however many bets you would like to place during the session to determine your individual bet size
. If you wanted to place 25 bets, your individual bet size would be 40c. If you wanted to put 50 bets, your bet size would be 20c.
Start betting, and if you lose all of your Session Bank, stop betting for the day. You can cease betting any time before you run out of money, either to keep your losses to an absolute minimum or to walk away with a profit during a winning session.
When the betting session is over, add the current Session Bank balance (if any) back to the main bankroll and divide it again by 10 to determine your next Session Bank size.
By taking this approach, each Session Bank would get a little smaller during a losing period, or a little bigger during a winning period, and you would never lose more than 10% of your main bankroll in any single gaming session
Games to play with low risk bankroll management
As a low-risk player, you should try games with the highest Return To Payer percentage (RTP)
, like blackjack with a minimum of 99% RTP or baccarat, which can have a 98.94% if you bet on the Banker. Of course, you should only play the games where you know the rules, the bet types and the odds.
You can also try the best playing slots
, like Mega Joker, 1429 Unchartered Seas and Lucky Mermaid or video poker that can also have an over 99% RTP.
Session banks will help you manage your bankroll better
The high-risk approach to bankroll management
The aim of the higher risk approach to bankroll management is to expose more of your bankroll to the casino in the hope of landing bigger wins
. It will still protect your bankroll from being wiped out in one sitting, but a losing session would reduce your bankroll by a larger amount than the low-risk approach
Start by dividing your available bankroll by 4. For example, if you have a bankroll of $100, you would divide by 4 and get $25
, which is your Session Bank.
Divide your Session Bank sum by the number of bets you would like to place during the session. Since you are willing to take bigger risks, you might want to give yourself just 10 or 25 chances to win in a given session, in which case your individual bet size would be $2.50 or 50c, respectively.
As with the previous approach, start betting using the predetermined bet size. If you lose all of your Session Bank, cease betting for the day.
Also, remember that you can stop betting before you get to that point should you want to limit your losses or lock in profits.
After the betting session, add the current Session Bank balance (if any) back to the main bankroll and divide by 4 again to determine your next Session Bank size.
By taking this approach, each Session Bank would get smaller during a losing period, or bigger during a winning period, and you would never lose more than 25% of your main bankroll in any single gaming session
Tips to managing your bankroll
Whatever approach you use, be sure to exercise self-discipline and stick to your session limits. Under no circumstances should you bet more in a single session than your current Session Bank allows.
- Divide your bankroll into sessions, so you don't lose it at once
- Set time limits, so you can walk away with money in your pocket even if you are on a winning roll
- Stick to your session bank limits, so you don't spend more than what you can afford
- Set win limits, if you don't walk away with your winning you can end up losing it again
- Slow down, if you play slower, you get to enjoy the casino for longer time with the same bankroll
- Play hight RTP games, you have better chance of winning on games which have high return to player rate
- Increase your bankroll with bonuses, most Canadian casinos offering deposit bonuses which can double your bankroll and you get to enjoy more games
Daily jackpot drops and progressive jackpots
The games that you choose to play can also be selected according to your tolerance for risk, but all players can give themselves a chance to win big by playing games that offer daily jackpot drops and progressive jackpots
. Whether you bet big or small, landing a prize of 1,000 times your stake - or even more - can boost your bankroll by quite a bit!