To succeed in online gambling, you need to manage your bankroll effectively. This applies to sportsbelling, casino games, and poker. Reading through this article will help you to effectively manage your bankroll, which will result in you making more money and avoiding losses, giving you a better chance at winning and preventing you from being broke.
Bankroll management
Bankroll management is about setting aside a certain amount for gambling that you can afford to lose. so you can win money without losing too much. Like some fund that is just for betting and losing; it doesn’t affect your life. You start with a certain amount of money for gambling, and you can add to it if you win or deposit more. You should bet a small amount each time so you can keep betting even if you lose. For example, in sports betting, if you have a $500 bankroll, you might choose to bet 2% ($10) on each game. This way, you can defy the losses.
Why do You Need Bankroll Management?
Gambling is challenging because sportsbooks and casinos have built-in advantages. Even with a good strategy and knowledge, you might lose sometimes, so you need bankroll management to keep yourself in check. For not losing an amount that you can’t afford to lose. By managing the bankroll carefully, you can protect yourself from big losses. For example, let us say you are betting on sports with a $1,000 bankroll. Without bankroll management, you might bet $100 on a single game. But if you lose 10 games in a row, all your balance is gone. With bankroll management, you could bet $20 on each game instead; this way, you can withdraw 50 losses in a row before your balance gets over.
How much to bet on a game
When betting on sports, it’s better to risk a small percentage of your bankroll on each bet, as big bets on a single game can lead you to lose a huge sum of money. While betting, keep in mind:
- 1-2% of most bets, especially if you are new to sports betting.
- Up to 5% for point spreads or total markets, as these are closer to 50/50 odds.
- Stick to 1-2% for money line bets, as higher odds mean greater risk.
Games with high RTP
Look for games with high RTP to avoid losing money unnecessarily. RTP, or return to player, is the percentage of money that is returned to the player over time. Play on machines with a 95% or higher RTP rate. Some of the games with high RTP are mentioned below.
- Video Poker (Jacks or Better): 99.5%+ RTP with optimal strategy.
- Blackjack (Single Deck): 99.5%+ RTP with optimal strategy.
- Baccarat (Banker Bet): 98.94% RTP
- Craps (Pass/Don’t Pass): 98.6% RTP
- Texas Hold’em Bonus Poker: 98.18% RTP (ante bet)
- Blood Suckers (Slot Game):98.0% RTP (one of the highest RTP slot games)
- French Roulette: 98.65% RTP
- European Roulette: 97.3% RTP (single zero wheel)
- Pai Gow Poker: 97.15% RTP with optimal strategy
- Three Card Poker: 96.63% RTP (ante bet)
By playing these games, the chance of you losing money unnecessarily decreases.
Tips for managing your bankroll
1. Set a realistic budget.
Before you start betting, figure out how much money you can afford to spend on entertainment, which includes betting. Always consider your disposable income (what’s left after the bills and essentials), how often you plan to bet (regularly or just for big events), and how much you are willing to lose and reinvest. Set a budget and stick to it while gambling.
2. Decide on your unit size.
Now that you have set a budget, it’s time to decide on the unit size—the amount you will bet on each game. While deciding the unit size, keep in mind to:
- Avoid spending too much on a single bet.
- Manage your risk.
- Scale your bets according to your budget.
We will provide you with an insight into how much you can spend on each game:
- On conservative: 1-2% (e.g., $2-4 per bet with a budget of $200)
- On More aggressive: 3-5% (e.g., $6-10 per bet with a budget of $200)
In golf betting, the betting amount depends on the odds.
- Outright markets (e.g., +5000 odds): use the fraction of a unit (0.10, 0.25, 0.50).
- Head-to-head matchups (e.g., -110 odds): use the full unit.
This means if your standard unit is $10, you might bet $1-5 on an outright winner (0.10-0.50 units) and $10 on a head-to-head matchup (1 unit).
3. Stick to the budget.
Now that you have a budget and a unit size, stick to it. Avoid chasing wins and losses by betting more than your unit size. Use a flat betting approach instead, which means betting the same amount each time and scaling your unit based on your edge but staying within 3-5% of your bankroll. Also, try to keep a deposit limit so that you avoid overspending and keep a withdrawal mark to enjoy the profit before you lose it.
4. Bet with your head, not your heart.
Don’t let emotions cloud your judgments. Avoid betting too much on your favorite player, especially if they are struggling, and also the long shots with high odds. Keep in mind that odds are high for a reason and underdogs can sometimes win, but be cautious if you are betting on them and bet a small amount; a small win is still a win, while a loss is always a loss.
Conclusion
Throughout this article, we’ve discussed how to manage your bankroll effectively by talking about what bankroll management is, why you need to manage your bankroll, the tips, and the RTP high-rated games. So now you know how to enjoy casinos and sports betting without making a hole in your pocket.
