How to responsibly upgrade from minimum bankroll to high roller.
There are so many informational texts available that talk about casino bankroll management. I’ve written a few of them myself. They all touch on the topics of using only ‘extra’ money to gamble, making smart decisions, and knowing when to quit. Today, we’re going to take it a step farther.
Generally speaking, proper management of bankroll is all about being responsible with your finances. This guide is more about teaching you to build your casino bankroll; actually increasing your gambling funds, rather than preventing them from running empty.
Starting With the Minimum Bankroll
Let’s talk a bit about what the minimum size of your bankroll should be. For the average tourist, a few hundred dollars should do the trick; enough to last the whole vacation. But again, this guide isn’t for the occasional casino goer. It’s for serious players who want to upgrade to bigger bets, greater VIP status, even luxury comps. If you want to gamble with any regularity, you need enough money to outlast the inevitable swings.
Start with the average bet size you want to place. Now multiply that by 100. This is the amount of money you need to have available going into a session.
Maybe you’re a $10 blackjack bettor. That means you need to have $1,000 at your disposal. Not almost $1,000, plus the money for little Suzy’s basketball camp. A full $1,000 in extra money that has no other purpose. If you only have $500, you must reevaluate your minimum bet size, dropping it to just $5.
When to Increase Your Bets
If you’ve been keeping up so far, this should be a pretty obvious answer. Do not increase your bets until you can go into a session with at least 100x bets of that size. If you want to jump up to $25 bets, you need $2,500 in your bankroll.
Do not ever increase your bet size without good reason. By good reason, I don’t mean ‘I’m feeling lucky’, or ‘I’m on a hot streak, I can’t lose!’ Your bet sizes should always be a direct reflection of bankroll availability, from the start of the session.
4 Rules to Building a Bigger Bankroll
Some sessions you’ll win. Some sessions you’ll lose. These are the inevitable swings I spoke of prior. Here are three rules to follow after any session, win or lose, to help you achieve the goal of upgrading your bankroll.
#1 Make smart decisions. There are lots of decisions to be made when gambling. For example, playing at online casinos can save you a lot of money compared to a land-based gambling trip. That’s money that can go back into your bankroll. Other examples include playing low-edge blackjack, but avoiding side bets; choosing single-zero roulette over American double-zero; following basic strategy instead of your gut.
#2 When you lose, stop! Preferably before your bankroll runs completely empty. Set a limit and stick to it. You’ll need to reduce your bet sizes, and/or save up more money to add to your bankroll, before you go back to the casino.
#3 When you win, stop! Set a realistic profit margin, and when you hit, call it a day. Put all profits back into your bankroll. Otherwise, you’ll never really get ahead.
#4 Invest in your goal. Anyone who understands how casino games work knows they will, over time, lose money. If you’ll commit a small percentage of extra money from your employment income to your bankroll each pay period, you can offset any losses and keep your gambling funds on an incline.
Follow each of the rules with great discipline, and that minimum bankroll you started with can become large enough to bet like a high roller, without tossing caution to the wind.