A wise gambler would say that you make your own luck. And the wisest gambler would know that this means managing your bankroll. Top professional gamblers all have one thing in common: they all make time to manage their bankroll – which clearly puts them in good stead.

If you’re looking to take your game strategy to the next level, you’re going to need to get to grips with bankroll management, which means staying in control and sticking within self-imposed limits.

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Why It’s Important

Learn to manage your bankroll by only taking a portion of your gambling money into the session so that any losses won’t result in financial disaster. By wagering everything you have, you stand to lose everything. If you’ve only brought along 10% of your bankroll, you won’t feel the pinch as much if you lose. Other benefits of bankroll management include:

  • Playing endurance with less risk
    Only play with a certain portion of your total bankroll and you’ll never break the bank, meaning you’ll have money left over for next time.
  • Smarter decisions at the table
    Keep track of your wins, losses and contributing factors (such as tiredness), and you’ll learn to spot patterns in your performance, which can improve your strategy for future games.
  • Make plans for the future
    By thinking ahead, you’ll have a better idea of how much you could earn, then you can plan your progression in the gaming world accordingly.
  • Lower banking fees
    With enough money in your account, you’ll save money on depositing fees as you won’t need to do it as often.

Top Tips for Managing Your Bankroll

Now you’re convinced about the value of bankroll management, you’ll need to know how to implement it. We explain how below:

Set a Betting Limit

We’re not the only ones who say that taking out 10% of your bankroll when you play is the sensible way to go. For example, say you have $1,000 in your account, if you take 10% ($100) to play, you’ll still have $900 left. If you win, cash it out or use it to play next time. Don’t gamble it all!

Have a Game Plan

Set yourself thresholds to keep tabs on your gambling. You might decide to move to lower stakes when you drop to $50, or maybe you hit up to $150, then can move up to a higher wager. Know how many spins, games or rounds you can afford with your budget.

Win Small, Often

If you want to grow your bankroll, the best way to do it is via small bets and small wins. The margins are way smaller, so you don’t feel the pinch when you lose. You can’t use slots for this tactic, instead stick to games with a low house edge like blackjack, baccarat, or craps.

Don’t Be Ruled by Your Emotions

A big part of gambling is making sharp, informed decisions. You’ll need to learn to separate your head from your emotions otherwise passion could override rational. Don’t allow wins to get you too excited, and similarly don’t let losses drag you down.

Slow and Steady

Rome wasn’t built in a day and neither was any pro gambler’s bankroll. It takes time and strategy to build up a solid bankroll, and that takes both wins and losses to achieve. Remember, you’re playing the long game.

Safeguard Your Deposit

You should always keep some money in your deposit so that it’s never totally drained. You should also make sure that you don’t lose all your winnings. If you hit a winning streak, it’s a good idea to withdraw some so that you still have more than your initial deposit left in the account.

Keep Tabs

It’s a smart move to keep a record of your gambling experience. Document the highs and lows to see where your game is strongest and if certain moods affect you. Keeping track of mistakes as well as feats will help you devise a better strategy for future games.

Don’t Spend More Than You Can Afford

This seems like an obvious piece of advice, but you could get dangerously consumed with gambling if you’re not careful. Don’t destroy your personal life by exceeding your limits at the casino - be strict with yourself.