If you want to gamble for any serious length of time, proper bankroll management is an absolute must. Your bankroll refers to the amount of money you have allotted strictly for gambling purposes. How you manage this bankroll will determine whether you’re able to sit down at the tables of the best gambling venues like Casino Classic for an hour or many years to come.
In this comprehensive guide, we provide tips and strategies to help you effectively manage your bankroll for extended play. You’ll learn about:
- Setting an appropriate bankroll size
- Using proper bet sizing
- Minimizing losses to protect your bankroll
- Moving up limits at the right time
- And more bankroll management best practices
Follow this advice, and you’ll be equipped with the knowledge to make your bankroll last.
Step 1: Set a Realistic Bankroll
Before you plop down your first chip, you need to define what constitutes your gambling bankroll. This is the pool of money you have set aside strictly for casino or sports betting. It should not overlap with any other finances like your emergency fund, retirement savings, etc.
When setting your bankroll, a good rule of thumb is to have 300 big bets at minimum. A big bet refers to the maximum you would wager on a given game in a single round.
So for example, if you mainly play $10 minimum bet blackjack tables and would be comfortable betting a $50 maximum per hand, you’d want around a $15,000 bankroll. That allows you to comfortably sustain 300 $50 bets, surviving potential losses and major swings.
This 300 big bet rule size allows you to play through downswings while minimizing going broke risks. Of course, bankroll requirements differ across game types based on betting sizes and volatility.
Bankroll Sizes by Game
| Game | Minimum Suggested Bankroll |
| Blackjack | $3,000 |
| Craps | $5,000 |
| Roulette | $3,000 |
| Video Poker | $5,000 |
| Sports Betting | Varies based on average bet size |
No matter what you play, define a bankroll you can afford to set aside. It should not impact your ability to pay bills or cover living expenses should you lose it. Consider it the cost of entertainment.
Step 2: Bet Appropriate Percentages
Managing bet sizing is critical for preserving your bankroll and minimizing risk. If you size too high relative to your overall bankroll, volatility could wipe you out quickly.
A general rule of thumb is to bet no more than 1-5% of your total bankroll on any given bet. The lower, the better long term.
So for example see details, if your starting bankroll was $3,000, you’d want to bet in the range of $10-150 per single wager.
You also want to limit maximum bets to ~1-2% of the bankroll size. Going back to our $3,000 example, you’d cap max single bets around $30-60.
Using proper bet sizing relative to your overall bankroll helps you endure cold streaks and the inevitable ups and downs of gambling.
Step 3: Stop When You Hit Loss Limits
Even with the best bankroll management, losing sessions are inevitable. It’s essential you set and stick to loss limits to prevent wiping out your bankroll in one bad run.
A good guideline is to stop playing if you lose 50% of your starting bankroll in a single session. So if you sit down with $1,000, quit when you lose $500.
Capping losses makes significant comebacks more achievable. If you lose 75% or more of your bankroll, it becomes exponentially harder to recoup those funds. Quitting at 50% preserves your bankroll to fight another day.
Step 4: Lock In Profits and Move Up Limits
On positive runs, resisting temptation to over-extend is vital. When you’re up 25-50% of your starting bankroll, consider ending the session and booking profits.
Banking winnings ensures you lock in results and don’t lose back profits on continued play.
Once you build your bankroll consistently, you can also consider moving up limits. If you play $10 minimum tables and have doubled your $1,000 bankroll to $2,000, consider graduating to $15 or $25 minimums.
Moving up limits lets you scale profits long-term. But only do so if your bankroll supports the increased size of maximum bets.
Final Tips to Master Bankroll Management
Managing a gambling bankroll well relies heavily on discipline. Here are a few final tips to polish your bankroll management:
- Define a walking away point – If your losses hit a certain amount, have the discipline to stop
- Avoid chasing losses – Losing streaks happen, don’t try to immediately win back losses
- Take breaks when emotions take over – Frustration, anger, and impatience are inevitable. Step away to clear your head.
- Spread bets across multiple hands/games – Don’t go all-in on one wager hoping for a big score
- Evaluate your skill level – Manage your bankroll to allow for your personal win rate
- Don’t borrow or use credit – Playing with anything but disposable income can be financially disastrous
Follow these bankroll management essentials, and you’ll extend your play significantly. While swings and downswings occur, you’ll have the funds and discipline to ride out the storm.
Over time, making your bankroll last leads to more comps, more play, and more profit potential. It’s well worth learning bankroll management fundamentals.