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Web Casino Online Bankroll Management
The first, and perhaps most important rule of bankroll management, whether for gambling at a web casino online or gambling at a bricks and mortar casino, is this: keep a rigid wall between your gambling bankroll and the money you use for living expenses. Never gamble money set aside for food and bills.
You should ideally set up a separate bank account at a separate bank (because some banks allow online transfers between accounts) that you use solely for gambling money. Only put money in it that you can afford to lose. If you find yourself thinking, "But I could use that money for a vacation" (or a down payment on a car, or new carpet), then maybe gambling isn't the best way for you to use your extra cash.
Whether you visit web casinos or regular casinos, if you find it impossible to keep your gambling funds separate from your regular money, it could mean you have a problem with compulsive gambling. It's a harsh truth, but one you can't afford to ignore.
Look at your gambling money as money you've already spent (or lost). This will help you remove some of the emotional aspect of gambling. Keeping track of your gambling money at a web casino online or a real casino is important too. You must be realistic about managing your bankroll, or else you're setting yourself up for failure. You can never guarantee that you won't go broke gambling, but managing your bankroll can reduce your risk of ruin.
You can estimate the size of the bankroll you'll need in several ways, but one simple way for the casual gambler to do so is to first figure out the following:
- Your average bet size (say, 10 Euro).
- Your average bets per hour (say, 30 Euro per hour).
- The number of hours you plan to gamble (say, 3 hours).
Multiply these numbers together: 10 x 30 x 3 = 900. Additionally, multiply in a "house edge and player error" factor of 0.2: 900 x 0.2 = 180
Therefore, you should start with a 180 Euro bankroll for your 3 hours of gambling.
Another strategy is to know how much you have total, and keep your bet size to 2% of your total bankroll. For example, suppose someone gives you 500 Euro to gamble. If you keep your bets to 10 Euro (0.2 x 500), then that will minimize the chances of the web casino beating you when you hit your first cold streak.
These are merely guidelines, though, and there are many more theories about how big your bankroll should be, some of them quite complicated.
Also keep in mind that some games have much more variation than others. For example, games that offer the occasional very large jackpot but a lot of losses in between have high variance. Games offering smaller, more frequent wins (like betting on "red" in roulette) have low variance. High variance games will require a larger initial bankroll.
If you want to be on the safe side, add a little extra to your initial bankroll. It's nicer to have some extra to minimize chances of running out too early (though there are, of course, no guarantees).
How you handle your money in the casino will have a big influence on whether you have enough to last for the duration of your web casino visits. Remember that bankroll management never changes the odds of any game. It only helps you control how much money you risk.
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