How To Manage Your Casino Bankroll

How To Manage Your Online Casino Bankroll

When you start out at an online gambling site for the first time, it can be easy to get carried away. The games are much faster than at a real-life casino, so you can fit in more hands of blackjack or more spins of the roulette wheel than you would be able to at a bricks and mortar casino.

While this can lead to big wins in the short term, it is surprisingly easy find yourself with more money at risk over the course of a session, simply due to the speed of play, range of games and betting levels available. For this reason, we've provided you with some tips for making your money go further.

What is a bankroll?

Put simply, a bankroll is the money that you use for your online gambling activities, be it casino games, poker, sports betting or anything else. It can be the money you have on any given site at any time, or a budget you have set aside for online gambling on a weekly or monthly basis, and it can grow or shrink depending on your luck.

Sticking to a set bankroll can be useful in teaching players’ patience and money management, two tools that can come in handy both within online gambling sessions and in life in general. Also, when you are getting started, it can be useful to stick with an upper limit to your bankroll and not be afraid to withdraw any profits you make above that amount.

Setting your limits

Many Aussie professional gamblers will tell you about their self-imposed limits, and this is for good reason. It means you can avoid damaging losses on those occasions when your luck is out, as well as holding on to your winnings in profitable sessions.

Some pieces of advice include:

  • Setting stop-losses for each session
  • Taking a break after a predetermined amount of time, just to go outside and get some fresh air, or to occupy your mind for a few minutes doing something other than gambling
  • Deciding how long you'll play for before the start of a session and stopping when that time is up

If you follow these rules it can help you properly enjoy your time at an online casino as well as increasing your chances of making money, and what is the point of sticking with a game if it's no fun?

Pick games with the best odds

Online casinos offer games of luck where the house has an edge, that's just a fact of the industry, and a way to ensure these businesses make money over the long run. However some games have more of an edge than others, and some methods of play within those games (e.g. covering the board in roulette) help players reduce the house edge more than others.

If you pick a game with a small house edge, where the return to player is 95% or higher, then you can get plenty of play for your money and notch up some handy wins along the way. You might not get that huge one-off win, but that shouldn't matter too much if you're having fun at the tables and keeping everything under control.

Don't compromise your style

Sometimes you will have a spell of bad luck, that's just the way things go at online casinos. If you've taught yourself a good bankroll management that involves playing the odds, it is a bad idea to abandon this in an effort to win back your losses quickly.

If you play for long enough then things will roughly even themselves out, so stay patient and keep to your strategy if it is optimal to maintaining a healthy bankroll in the long run.

Take advantage of welcome bonuses

The competition between Australian online casinos is fierce, and everyone seems to be striving to outdo one another in an effort to attract new players. This is great news for you, as it means welcome bonuses are getting bigger and better, giving you an immediate bankroll boost from the get-go.

You can take advantage of multiple welcome bonuses at a variety of different casinos online when you get started, and this is a good way to discover your favourite, as well as taking advantage of a free addition to your bankroll. But remember to check the fine print, as you often need to unlock the full bonus amount playing some online casino games will not help you rack up the frequent player points needed to free up the full amount.

Use free play to practice

It is also worth remembering that you don't have to deposit and play for real money right away. If you are signing up with an online casino site for the first time then it could be an idea to take advantage of the wide array of free play games on offer at most Australian-friendly sites.

Free play will help you get a feel for the games and know what to expect from pokies and casino table games in terms of win rates, in-game graphics, betting strategies and more. If you put in the hours playing free play games it can help you make the most of your real money bankroll when the time comes to start playing online casino games for real cash.

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