Bankroll Management

bankrollThere are so many opportunities to play casino games online in 2016. In fact, gambling is as easy as firing up the computer or flicking on the tablet. Players can gamble as little as 1p or as much as $100 a spin on a huge range of games. Bettors aren’t restricted to the number of games they can play like they are in a land-based casino.

But with so much temptation, there is the real possibility that you can go busto pretty quickly without a plan. Every gambler needs a bankroll plan, even if it’s for small stakes. With some sensible bankroll management you can make your winnings go even further.

Understanding Great Bankroll Management

Online gamblers have a massive range of options open to them. There are hundreds of casinos out there, each with hundreds of slots and table games to play. Signing up is simple (as long as you are over 18) and you can deposit with a card, e-Wallet or bank transfer.

With so much choice, it’s absolutely vital not to get sucked into the wrong casinos and wrong games. Learn the rules first – most casinos let you try games out for practice money before you start playing. And never, ever, play at stakes where you’re uncomfortable.

Whatever your game, consider betting 1% of your total roll on a single bet. So, if you have £100, play a slot at £1 per spin (more or less depending on the game’s volatility) or £1 inside/£5 outside on roulette. Card games are easier as you tend to just pay once. Games like Casino Hold’em or Casino War may involve further bets, so always factor those in.

Plan Your Gambling Sessions

As well as picking a staking strategy you need to set aside time to gamble.

It’s tempting to just log on “when you feel like it” and play a few slots or roulette games. But casual gaming tends to lead to silly bets – you might be rushing for a train or filling 15 minutes in your lunch break.

You may only have £20 in your account to gamble with; soon, you realise that that roll is much too small to handle a downswing and you end up £20 in the red. Plan an online casino session like you would if you were travelling to a land-based one. Even make a night of it.

Open A Separate Account: It’s easy to just whip out a debit or credit card and make a casino deposit. But by doing that you can lose track of where your money is going. Instead, consider opening an e-Wallet just for gambling online. E-Wallets are safe and secure to use, and widely accepted at most casinos. Load up a single wallet with funds from a bank account or debit card and transfer as little or as much as you like in one go.

Withdraw Those Winnings: Cashing out your winnings regularly is a good practice. Consider having a “base” bankroll of, say, £100. Anything you win in a session is banked and withdrawn from your casino account. Watch out for any restrictions on fees or the numbers of free withdrawals you can make each month.

Don’t Chase Losses: If you find yourself on a losing run, don’t “chase your losses”. Instead, take stock and drop your stakes accordingly. Yes, it will take longer to make up the difference but at least you won’t “tilt”, increase your bets, and risk getting into further debt.

Choosing The Right Casino Games

You know what you have to spend, now you need to pick the right games. Casinos online offer a massive range of games, but not all pay out equally. In fact, some should be avoided altogether.

Study the paytables and instruction manuals you can find at online casinos. Here you will find out the RTP (Return to Player percentage) of most slots. In some cases, you can read the casino’s entire payout to players for every game they list. The payouts will have been tested externally too, by approved auditing bodies.

Online Slots Overview

– Play all paylines
– Play the max. coin bet if you can afford it
– Avoid high-variance games

All casinos offer online slots. But slots probably vary more widely than any other type of casino game. You can play simple, “classic” slots with a few paylines and three reels or opt for big, brash slots with over 1,000 paylines and bonus rounds galore.

Whatever you play, have enough bankroll to play every payline. This ensures you have all bases covered and a better chance of hitting bonus rounds (if available).

Look for ‘low-variance’ slots as well, especially if you are just getting started. Low-variance games offer plenty of small, but regular, wins. High-variance slots can see a long losing spell before you hit that big jackpot. The choice is yours, but make sure your bankroll can handle it.

Online Roulette Overview

– Stick to European Roulette
– Weight your bets towards the even-money wagers
– Don’t over-commit yourself with too many bets

In a land-based UK casino, it’s not uncommon to find just European Roulette available. Online, however, you’ll find European and American Roulette as standard. You can even find weird variants like Premier Roulette Diamond Edition that comes with four colours on the wheel.

As a rule of thumb, European Roulette has the best payouts for players. The “house edge” is just 2.7% – the advantage the casino has over players over the long term – compared to 5.26% for American Roulette.

On the board itself, the outside bets like Red/Black and Odd/Even pay out even-money (1/1). Stick to those bets, at least for your large wagers. It might not be exciting but you have just more than a 1-1 chance of hitting either red or black.

The “inside” numbers pay 35/1 but are harder to hit. Weight your bets accordingly, then: consider a bet of £5 on red or black, backed up by 50p bets on a handful of numbers of the opposite colour.

Online Blackjack Overview

– Great for house edge – if you play sensibly
– Hunt around for interesting variants online
– Don’t take poor bets like ‘Insurance’

Blackjack, when played properly, has one of the lowest house edges in the casino, hovering around 1%. To keep it that way, avoid silly bets like ‘Insurance’ which saves you money if the dealer hits a natural blackjack. Save a portion of your bankroll to double down on 9, 10 or 11, but remember to cash out winnings regularly. If you find yourself doubling your profits, think about doubling your stake for a spell.

Trying Out Betting Systems

There are many betting systems available for online gambling. The beauty of online casinos is that you can try many games for free before opening your wallet. That makes free-play roulette, slots and blackjack ideal for testing out a system.

The most famous is the Martingale. Now widely debunked, the Martingale, requires you to double your even-money bets until you win. You then bank your winnings and return your bets to their original level.

While it sounds good on paper, the problem with the Martingale is that you can go on huge runs without winning. In any case, most casinos will have stopped you playing by the time you hit that magic win.

Hunting Out The Best Real-Money Bonuses

Online bankrolls can receive a welcome boost from a welcome bonus. When you sign up for a gambling account and make a deposit, the casino will “match it” by at least 100%. There is a catch, of course: you need to play enough “eligible” games in your first week on-site to release the cash.

Bonuses can be a great way of helping your bankroll, as long as you are a committed, regular player. Further deposits may be rewarded via reload bonuses, and you can even join a ‘VIP scheme’ to earn bigger bonuses and added benefits.

Make sure you select the option to receive email blasts about the best new bonuses when you sign up to a casino. That way you can opt in fast to the biggest slots tournaments and prize giveaways.

Knowing When To Stop

Good bankroll management is also about knowing when to give it a break. If you find yourself chasing losses for days on end or not enjoying gambling anymore, uninstall your casino software or ask the casino to exclude you. Most casinos allow some kind of temporary self-exclusion which can be a great way to avoid temptation.

If you have a serious problem and your bankroll has gotten out of control, there are several organisations in the UK that can help. Many online casinos will freely promote them on their websites. Organisations like GamCare and Gamblers Anonymous have excellent information and trained staff who can help.