Well, for a gambler, his bankroll is as important as oxygen to the human body; both are necessary to survive in their particular habitats. The gamblers find nothing more depressing than talking and calculation of their bankroll. But before getting all technical about that, we should first know what bankroll is? As with the advent of online casinos, the live casinos‘ bankroll system is becoming an outdated custom. So, what bankroll really is? It is the amount or sum of money that the individual is able to gamble with, whether it being in any casino games like Blackjack, Roulette, slots, and so on. The gamblers use the money to buy casino chips. They could use the casino chips for betting on the exact amount of money.
So, now it may be very boring and tiresome to calculate the perfect bankroll. Otherwise, you might be in a grave problem as you may lose more than you might even earn. The whole aspect of bankroll management or financial management of gambling is quite unexciting. But, it’s the necessary evil to those individuals who want to make it big in the gambling industry. So, below are some logical and undoubtedly obvious reasons that make your bankroll a bummer.
House Edge: the Cheat or Treat
House edge is the advantage of the casinos over the gamblers, and it can either be a cheat or a treat depending on whether you have accounted for it in your bankroll management. You have to keep in mind that every game present in the live casino comes with a house edge, but this does not necessarily mean that you are always going to lose. It’s just a matter of time till you notice that there are some games that have a lower house edge and higher returns like Roulette, baccarat, blackjack, and some slot machines. So, if you want your bankroll to maintain its strength, then better account for the house edge first.
5% Rule: the No Brainer Choice
Here’s a small trick that will help not only help you to take care of your bankroll but also not get you bankrupt. Always bet 5% of the total amount of your bankroll. That is, if the total amount of your bankroll is $1000, then you should start your bet at $50, this might increase and decrease with the fluctuations in your bankroll due to constant wins and losses. So, if you have money that you can throw into the dump, then it’s ultimately your money and your choice.
When to Walk Away?
It is of your benefit that you should assess when you should walk away from a particular game without getting carried away by your winnings. Well, let’s say you’re in a live casino, and your bankroll for a day is $1000, and you won another $500 at a blackjack table. Then what would you do? You would feel lucky and for which you bet another $200 at hand, and you end up losing it all. This should not be the case at all because throwing away the caution in the wind like that and ignoring the 5% rule may just degrade your bankroll. Hence it is of utmost importance to know when to walk away.
Strategies: the Influencer of Misunderstandings
Well, every elite gambler knows one thing for sure that gambling is nothing but the game of luck, and no matter what, it should be treated as it is. So, if anybody is telling you that they have a full-proof strategy that cannot make them lose a hand, then my friend, they’re bluffing because strategies can be useful for lowering the house edge for very few games, but it cannot be certain of you winning. So, what you should do is believe in the strategy but not blindly and always have a back out plan in the live casinos and land-based casinos too. This may save you from bleeding, not only dry but also not degrade your bankroll.
So, now you might have understood why your bankroll management might have been depressing. It’s because you might have made bad choices but worry not. You have found out what has been the problem. So, what are you waiting for? Head out for a live casino and hit some jackpots!