How to Effectively Manage Your Bankroll in an Online Casino

Online gambling is a game of equal parts luck and strategy. But because it often involves real money, the ever-present fear of losing too much too fast is enough to scare the most experienced gambler. A good bankroll management strategy can help you stay in the game longer, make better bets, and protect your finances. Whether you are new to online gambling or a veteran, it never hurts to learn how to manage your bankroll. Here are five must-know strategies that will help.

Set a budget and stick to it

Never bet money you cannot afford to lose. Online casinos are not get-rich schemes, so resist the urge to bet money you need because you plan to “double it.” Before you start a game, determine the amount of money you are comfortable losing and make that your entire bankroll. It should not be earmarked for anything important like food or school, and it should not be the only money you have.

Play games with a low-house edge

All casino games have a house edge. This is the percentage the game skews in the house’s favor. Most games represent this mathematical edge as a return to player (RTP) percentage. For instance, the Aviator game has a 97% RTP, which means players get back $97 of every $100 they bet on the game on average and over an extended period. Even if you don’t understand how RTP works, the best strategy is to play games with a low house edge (high RTP). Popular choices include:

1. Blackjack – 99.5% RTP on a single deck

2. Craps – 98.6% on pass-line bet

3. French roulette – 98.6%

4. European roulette – 97.3%

5. Pai Gow poker – 97.2% with optimal strategy

6. Video poker – 99.5% with optimal strategy

7. Baccarat – 98. 9% on banker bet

8. Texas Hold’em – 98.2% on the ante bet with optimal strategy

Avoid parlays

As you avoid games with a high house edge, steer clear of parlays when possible. Parlays are popular because, when successful, they offer big wins. But because they combine multiple bets, they also increase your risk. Every bet you add to a parlay takes more money from your bankroll that you may not get back. The risk is that you wager a lot on one bet, where one loss loses the entire parlay.

Using casino bonuses

Most people play online casino games as a reprieve from the stresses of life – a way to disengage and have fun. Betting your money can take the fun out of online gambling and make it stressful. One way to keep the fun going and protect your bankroll is to use casino bonuses whenever possible. Bonuses are perks the casino offers players so they don’t eat into your cash. They allow you to explore different games and test strategies without risking money.

Keep a clear mind

All the strategies in the world go out the window the minute your judgment is impaired. Try to keep a level head when wagering real money at a casino. Don’t bet on emotion – you are more likely to chase losses when you are emotional. Losses happen. Take them in stride and trust your bankroll management system. And remember the first rule – always stick to your budget.

Test out your new bankroll management skills at an online casino

Learning to manage your bankroll properly takes practice and discipline. The best partner for the discerning online gambler is a responsible casino provider with low house edges and favorable betting lines. Once you set a budget, pick a favorable game, and set a betting strategy, test your new bankroll management skills at a reputable casino like Betway and enjoy the benefits of financially- responsible online gambling.

Leave a Comment