Bankroll Management & Stakes: How to Play Smart

There are a variety of things that will affect the amount you might win when you play casino games. Obviously, winning also depends on having a big chunk of luck! Besides luck, the most important factor affecting your success at an online casino is skilled bankroll management. This is something every player should think about before sitting down at the tables.

Always keep in mind that it’s your hard-earned money you're putting on the line. And that’s exactly how you should treat it. Never play for more than you can afford to lose. The famous phrase “Scared money don’t make money” has some truth to it. Most importantly, having fun should always be your number one priority. And playing with “scared money” is probably not a lot of fun.

In this chapter, we want to give you a few tips and tricks to help you manage your bankroll efficiently. This will save you a lot of frustration and possibly set you up to successfully land one of those big wins someday—all while enjoying the thrills of an online casino responsibly.

1. Always Set a Budget

Setting a budget is easily the most important rule when it comes to proper bankroll management. You should treat gambling like any of your other expenses and determine how much money you can afford to put into it. Most people would never buy an expensive sports car if they knew that they couldn’t afford it. Online gambling is no different. You should only invest as much as you’re comfortably able to lose. So set a budget and stick to it!

2. Know Your Limits

It’s one thing to set a proper budget, but it’s another thing to understand how to use it. Some players risk their entire stake in a single spin in the hopes of a big win. We don’t need to mention that this rarely ends well. If you want to get a decent amount of entertainment out of your investment, this isn’t the way to go.

Play smart and determine the maximum stakes you should be playing with your bankroll. Even professional poker players who are in it to win it follow this advice. During their careers, they learn they can experience mind-crushing defeats, even if the odds are in their favor. A good rule of thumb for most luck-based games is to never risk more than 1% of your bankroll at one time.

This advice can be translated to almost every card game, to tables games like roulette or craps and even to slot machines. For example, if you have €100 in your casino account, your maximum spin at a slot machine should never exceed €1. Same goes for blackjack and roulette.

Also consider the type of bet you're committing to. The riskier it is, the lower your investment should be. It makes a huge difference whether you bet on black or red in roulette, or whether you put your money on a specific number. There’s only two different colors on the table but 36 numbers, not counting the “0”. Your chances are vastly different for each, and your bet size should be adjusted according to the risk-to-reward ratio.

3. Keep Your Emotions in Check

It’s easy to give in to your emotions when you’re gambling. A big winning streak can lead to euphoria, while a big loss can quickly trigger anger, resentment and frustration. You should always try to leave your emotions at the doorstep and stay level-headed. Don’t randomly raise your limits just because you think tonight is your night and you're going to break the bank. Same goes for the opposite approach. It’s hardly ever a good idea to chase your losses.

4. Always Keep Track of Your Winnings and Losses

Everybody has met someone who bragged about their most recent winnings at a slot machine at the local pub or casino. However, they probably never mentioned how much they had to invest to score one of these jackpots. The human mind can easily play tricks on you in this regard. It’s simply more pleasant to remember all the good stuff and forget about the rest.

Actually, the majority of gamblers think they’re up in winnings over the long run. This is obviously not the case. If it were true, most gambling halls and online casinos would be broke and out of business by now. So always remember how much money you’ve invested and how much money you took out. Maybe even keep some notes of all your deposits and withdrawals to be able to get a clear picture.

5. Know When to Stop

It’s always a good idea to set some rules for when to quit. Obviously, you should take a break once your bankroll has been emptied and stick to the limit you set. But when you’re on an upswing, you should also consider saving some of your profits.

First of all, we always recommend setting a time limit. Take some breaks and set up a schedule. Second, we suggest you have a proper exit strategy for when you’re winning as well. For example, you could make it a rule to quit playing when you double your money. This way you can be sure you take home your winnings when you’re ahead.

In addition, it’s never a bad idea to withdraw your winnings from the online casino right away. That way, you can ensure you’ll be bringing at least some money home with you, and you won’t risk losing it all in your next session. After landing a big win, you might also consider setting aside your initial deposit. If you do this, you can’t really lose anything, and you’ll be playing exclusively with house money.