If you want to gamble online, you can do so on numerous sports games, casino games, video slots and much more. The winning strategy that always wins you money has not been found yet, but you can come close. This can be done, for example, with the Bankroll Management Strategy. What is bankroll, what is bankroll management and how does this strategy make you more likely to win money?
Bankroll is an English term which is easy to explain. It is the amount of money you make available to gamble with. You can compare it to a roll of money. This is the maximum amount of money you expect to need to be able to gamble.
Bankroll management is important
The bankroll is the maximum amount you are going to spend and you don’t want to end up with no money at all. That’s where bankroll management comes in, because this strategy ensures that the chances of losing all your money are slim.
Bankroll management strategy
So the bankroll management strategy. With this strategy, you have a better idea of the money you are betting and therefore the chances of going broke are smaller. Bankroll management means that for each bet you only bet a small percentage of your total bankroll.
In most cases this is 2.5%, 5%, 10% or at most 20%. Of course, this also depends on the type of game or bet you are betting on. In soccer betting, bankroll management works differently than in online casino games.
How does it work?
Suppose you are a recreational gambler. You start playing blackjack with a bankroll of 100 euros. You divide this into 5% ‘stakes’. That means you can bet twenty times before you run out of money. The chances of this happening are not terribly high and the chances of you winning once within this strategy are decent. Even within the stakes, you can again subdivide your bet into smaller ‘units’. This way you keep your gambling under control and you don’t lose a lot of money unexpectedly.
A soccer example
In the above example, with a bankroll of 100 euros you have exactly 20 stakes. You divide these stakes up again. In soccer you can bet a full stake if you are convinced that one team is going to win. An example would be Real Madrid playing at home against a low-flyer.
If you are less sure, you do not bet a full stake but rather a portion, for example 50% of the stake (2.50 euros). Suppose Barcelona has to go out to Sevilla, then the chance that Barcelona will win is still big, but you have a little less certainty and therefore you bet a little less. Of course, in sports betting you also always have to deal with odds, on which you can determine the stakes of various stakes as well.
Bankroll management ensures that you are more sensible and conscious with what you bet on betting or online casino games. Bankroll management is often based on percentages, as you could read earlier. Bookmakers at sports events help you with this tactic. Suppose bookmakers are 70% sure that one team will win, then you can also bet 70% of one stake. So suppose a stake is 5 euros, then you bet 3.50 euros on that team.
Your bankroll management is therefore also linked to statistics and professional probability calculations. This increases the chance that you will win money in the long run.
More about Bankroll management in online gambling
Choice of bankroll management
Choice of bankroll management
How your bankroll management will look like depends on your available money. Many people take into account the income of a month when calculating their bankroll and take into account how much they could/should lose at most. This is called the monthly bankroll. Other people choose to have a certain target at one event, for example a profit of 10 euros when you start playing with 100 euros.
After reaching this profit target you can then move on. Whatever your strategy is within bankroll management, it is a proven effective way to handle your money and win at gambling.