Foreword

Online gambling involves betting with real money, and with luck, you will win. Honestly, winning money is more uncertain than losing money because of the house edge. For this reason, smart players know the importance of having bankroll. Without bankroll management, players can lose all their fortune and may never gamble again.

What is Online Casino Funding?

If you’re new to casino money management, don’t worry, as it’s a relatively simple concept. Simply put, bankroll management is the act of planning how to use your finances at the casino without overspending. The idea is to avoid putting your hands down the “significant” money to pay for utilities, health insurance, tuition, and other expenses.

But how do players know the exact amount required to play online casino games? Experts recommend using a bankroll of 1,000 times the standard casino stake. For example, if you bet $2 per spin on a slot machine, you need at least $2,000 to play. Bankroll should give you as many rounds as possible to increase your chances of winning.

How to protect your gambling budget?

Without further ado, here are some tried and tested techniques to protect casino gambling funds:

1. Divide funds into smaller units

The most straightforward way to manage your casino bankroll is to create smaller daily or session-specific units. If you play twice a day at the best online casino sites, you will be making two small payouts each time you play. In short, divide the unit by the number of times you play per day.

Here’s a practical example; you deposit $1,000 a week. You then divide your bankroll into seven units, the number of days you play each week. You can bring in approximately $142 per day to the casino. You can also set higher amounts for days like Fridays and weekends when you are likely to gamble a lot.

The reason for having smaller stakes is to control how much you spend per game. So if you’ve used up your entire $142 budget, that naturally means it’s time to go home. In short, don’t gamble with money that you’ll be miserable losing.

2. Has a win/loss limit

As mentioned earlier, the bankroll will tell you when to stop playing. But you can even be more conservative by setting win and loss limits. The trick here is to stop the game after losing or winning a certain amount. Keep in mind that there is no one-size-fits-all approach to this limitation. It should be whatever percentage you are willing to gamble.

For example, you can set a daily win/loss limit of 30%. If your daily bankroll is $300, you will stop playing after losing or increasing your $90 budget. You can adjust the percentage based on what you are willing to lose. So if you’re prepared to lose a total of $300 of your bankroll, it doesn’t hurt to have a win/loss limit of 75%. Remember, giving up while it’s still early is a proven strategy.

3. Consider house edges

The house advantage is a “demon” that terrorizes players in all the casino games they play. This is a percentage that represents the amount you will lose on each bet you place. If the game has a return to player (RTP) of 97%, you will lose 3% of your bet to the casino if you win the bet. In such a game, betting $100 will return $97, with the casino keeping the rest. Therefore, it is a foregone conclusion that a lower house edge is better for the player.

Here’s how the house edge can affect your bankroll; you can spin the reels of an online slot machine 500 times an hour and spend $2 per spin. If the game has a 3% house edge, your estimated hourly loss would be 500 spins x $2 x 3% = $30. This calculation proves that a lower house edge is more lenient on your gambling budget in the long run.

Note, however, that losses may be greater or less than the ratios discussed above. Players can win life-changing jackpots by playing a game with an RTP of 90%. NetEnt’s 88.12% house edge on the Mega Moolah is a good example.

4. Play blackjack and poker

This is somewhat a continuation of the “house edge” discussion above. Learning how to reduce the house edge in online gambling to the lowest possible value is critical to success. But the bad news is that Lady Luck greatly influences the results of almost all casinos. Now to answer the question; what do players do when they spin the reels of an online slot machine or place a bet on the roulette wheel? yes nothing!

But thankfully, players don’t need to leave their fate to luck when playing games like blackjack and poker. They allow players to use strategy to beat the dealer at their own game. Skilled players can reduce the house edge to less than 0.50% in most cases, and even negative values in some poker variants, such as double bonus poker.

For example, a blackjack player can split a hand with two aces and play with two strong hands. Also, players should stand above 17 to avoid busting. In short, there are many strategies that can be used in poker and blackjack. And don’t forget to download strategy charts online.

5. Take advantage of online casino bonuses

This is arguably the best way to prolong the life of your casino gambling bankroll. Many operators offer players free play credits that can be used on any game except live casino games. If you are a new player, the casino can offer you a matching deposit bonus, which usually doubles your first deposit up to a certain amount.

Some casinos also offer no deposit bonuses and free spins credits to new players on certain slot machines. As you keep playing, keep an eye out for reload bonuses, cashback, VIP memberships, player referrals and other loyalty promotions. There are so many types of online casino bonuses and promotions that there is no point in playing with your precious bankroll.

But the bonus itself is not free money. Usually, the casino will include a wagering requirement, which is basically the number of times a player has to use a bonus promotion before any winnings can be withdrawn.

For example, if a $100 casino bonus has a 30x game play requirement, you must wager at least $3,000 ($100 x 30) to withdraw any winnings. Therefore, wagering requirements must be reasonable before claiming a bonus. If possible, look for bonuses with no wagering requirements or no deposit bonuses with low clearance rates.

6. Betting system

What exactly is a betting system? These policies are designed to define how you place your online casino bets. The aim is to keep your losses as low as possible. In other words, they don’t reduce the house advantage one bit. Instead, they guide your bets and help you recover your losses with a bet or two. So, don’t pin your hopes on these systems.

That said, Martingale is arguably the most popular online gambling and sports betting system. The system requires players to double their initial bet after a loss and recover all their losses on a single win.

As you can see, the system recoups losses with just one win. But on the flip side, the stakes keep rising rapidly, meaning a cold losing streak can quickly drain your gambling budget. Another thing is to use the betting system on bets that have at least a 40% chance of winning. Such bets include Red/Black, Odd/Even, High/Low, Go/No Go, Come/No Come, and more.

Final words

Players can certainly do more to protect their online gambling funds. Other tips include playing low-stakes games, scheduling game times, and more. But the key is to know that gambling is mostly about luck. Therefore, protecting your gambling budget should give you more time to play. If you win, it is simply a bonus item!