What is a Casino Bankroll?
Here at SpinGenie, we want all players to enjoy our games safely. That's why we’ve created this article to teach you everything you need to know about bankroll management, from the fundamental strategies required to implement it to why it will improve your online casino experience and most importantly, ensure you gamble safely.
What is Casino Bankroll Management and Why is It Important?
You’ve probably already heard the advice to always set a budget for your gaming session. Bankroll management takes things a bit further by ensuring your cash goes as far as possible and you get to enjoy playing casino games for more than a few frustrating spins or rounds.
Bankroll management is the process of only risking a certain percentage of your total gambling cash, ensuring that you always have some money left over to play with on another day. Consider a basic 50/50 scenario in which you have a 50 percent probability of winning and a 50 percent chance of losing. You may lose everything if you put your entire bankroll on the line with a single card turn. A loss would not be devastating if you only placed 5% of your bankroll on the line. By distributing the risk, you may eliminate much of the luck that comes with gambling and instead relies on probability. To clarify: we’re not saying that this technique removes the element of RNG/random chance from online casino games, but this method can help you make some smarter wagering decisions.
There are lots of benefits to bankroll management such as:
- Managing risk - by limiting your spending to a certain percentage, you can ensure that you always have money set aside to cover your losses while you wait for your lucky streak to begin.
- Smarter gambling decisions - By taking time to consider your bankroll strategy you remove the chance for rushed or snapped decisions which can help to enhance your odds and practice safe gambling practices.
- Future Planning - Having a clearer sense of how much money you could make from gambling will allow you to see the big picture more clearly (whether this is moving on to higher stake games or a different genre entirely)
- Lower banking costs - You should always set budgets, which means you'll make fewer payments because you'll make fewer deposits, which will certainly keep your wallet happier!
What is a Good Bankroll?
Let's talk about what a ‘good’ bankroll is. Note we’ve put ‘good’ in parenthesis, as we can’t give specific suggestions, because all of our wonderful players are different, having different budgets, and different expectations from their gaming experience. Instead, we’ll give you some general guidelines which you can try out.
A good bankroll can be determined by answering the following questions:
- What games am I interested in playing?
- What kind of wagers do I like to make?
- How long should each session last?
- How many sessions do I intend to participate in?
Let’s say you love high volatility slots and prefer to activate all paylines to increase your payout potential. If you want to play for an hour, you’ll likely need a larger bankroll than players who enjoy low volatility slots, and making penny wagers, because your cost per spin will be higher. Therefore, if you have a strict bankroll budget you’ll probably need to be prepared to play for a shorter time, due to the increased cost. You can see here how having a bankroll in place can help you to avoid accidentally overspending, because let’s be honest, playing online casino games can be really fun, but you need to keep your focus!
Play Online Slots at Spin Genie
At Spin Genie you can play a huge range of slot games, casino games, Slingo games, and more. At Spin Genie we care about our player's safety, which is why we’re big advocates of responsible gambling. So, don’t just set yourself a bankroll; stick to it, and when the fun stops, stop. Happy gaming!