Playing any game that requires real money to participate requires a bankroll strategy, and with gambling, this is essential!
Managing your gambling budget will help you to prolong your time having fun with casino games, without the negative impact of spending more than you can afford to lose.
Below we’ve looked at ways in which you can manage your bankroll and keep gambling fun!
What is Bankroll Management?
Managing your bankroll simply comes down to calculating how much you can afford to lose over an allotted period, and strategising your spending with how often you play. This way, you can safely gamble within your budget and keep the fun rolling until you can next top-up.
Here are some things you can do to formalise your strategy.
Calculate Your Weekly/Monthly Bank Roll
As gambling requires money to play, it’s wise to look at your budget for casino gaming as part of your disposable money that you have left after accounting for everything else in your life that you’ll need money. How you determine your disposable income (money left over after all costs are paid for), and what proportion of this you want to contribute towards gambling is down to you.
For example, if you get paid every month, then you’ll be able to work out how much is left after all of your outgoings, and then calculate a percentage of that ‘disposable’ money to be your Bank Roll for gambling. This is hugely important as this is the money you could afford to lose without it impacting your day-to-day life. The first rule of managing your bankroll is to only play with money you can afford to lose – we can’t insist this enough!
With that figure in mind, you can divide this sum across the number of times you play during the budgeted amount of time. Eg. If you have allocated £500 for the month and play ten times (500 / 10 = £50), then you can assign a £50 deposit each time you play.
Plan For The Worst-Case Scenario
When managing your bankroll, you should always have the point of view that you’ll lose every time. By budgeting your finances around the worst-case scenario, you’ll always keep on top.
The chances are, of course, that you’re not going to lose every time you play. But with the knowledge of knowing exactly how much you can spend during each session, you’ll know exactly when to stop. Anything you’ve won on top is a plus!
Adjust Your Stakes
Adjusting your stakes is a crucial part of pro-longing your time playing. If you’ve got £20 to enjoy gambling with, you don’t necessarily want to be playing £1 spins as you’ll burn out before the fun has started.
Another option is to choose a low RTP strategy. These games will pay out little and often, so you can keep your bankroll alive for that much longer.
That being said, if you’ve budgeted your self £20 to play with and fancy trying your chances at £1 stakes, make sure to stop if you don’t win. The whole point of Bankroll management is to know when you can’t afford to carry on playing.
Track Your Play
Tracking your gaming habits will help you to get a better idea of your time and money spent playing. This is a useful task when managing your bankroll as you’ll be able to spot trends in your gaming behaviour that might help you reduce your spending. Some of the details you’ll be able to find out include
• Time of the day
• Hours/minutes played
• Amount spent
• Amount won
• Number of games
By understanding your gaming routine, you’ll have a better idea of the ways in which you can reduce your spending to be more in-line with your gaming budget.
Don’t Forget To Cash Out!
Always ensure that you’ve set a withdrawal limit before playing. Try and challenge yourself to withdraw a target amount of your winnings every time you’re up. It’s too easy to fall into the mentality of ‘it’s the casino’s money’ and burn through winnings, even if they’re hundreds of pounds.
Always set a withdrawal amount and stick to it. This doesn’t mean you have to withdraw everything penny and stop playing, but at a bare minimum, take out the money you’ve deposited so that you’ve had a casino session that cost you nothing.
Resisting Temptations
Bankroll Management is easy to talk about, but in reality, the drive to spend more than you’ve allocated can often get too much. Casino games are designed to entertain, and they achieve this immensely. Here are some tips to help you have fun without the cost.
Claim No Deposit Casino Bonuses
Claiming casino bonuses that are free to new casino customers is a great way to play at no cost to you. You can claim buckets of Free Spins No Deposit offers and plenty of No Deposit Bonus options too. Having a Free £5 no deposit casino bonus to enjoy will keep you gaming for that much longer at the expense of the casino.
There’s also the option to enjoy Free-Play Casino Games. Although you’re not winning any money for real, you get to check out all of the same casino games stress-free.
