Online Casino Gambling Money Management
Most gamblers know that money management is a crucial part of online gambling, or any gambling for that matter. Without money, you can't play, and the more wisely you manage your money, the longer you should be able to stay in action.
Proper money management will depend on a number of factors.
What Online Game Are You Playing?
If you are playing a positive expectation game like online poker, you may have a positive win rate, which means that over the long term, you will win a certain amount per hour. Your goal should be to have a large enough bankroll to cover your swings of bad luck so that you never have to replenish your bankroll.
If you are playing a negative expectation game like roulette online, you cannot have a positive win rate. The game is designed so that the player will lose over time.
Your goal in a game like this should be to have a big enough bankroll so that you will be able to play as much as you like between now and the time that you will be able to replenish that bankroll.
Bankrolling Positive Expectation Online Games
Remember that a positive expectation game can only be considered as such if you are a winning player. If you are a losing player, you should treat all online games the same. There is no shame in being a losing player; estimates are that 90 percent or more of online poker players are long-term losers.
To bankroll yourself for online poker with a positive win rate, many players feel you should have at least 100 times the big blind available to you. This means for a $3/$6 limit game, you should have $600 to avoid going broke. Some players feel that this may be a sufficient amount to have on the table, but to be sure to avoid ruin you should have 300 to 500 times the big blind available, or $1,800 to $2,000 in this case.
No-limit games have more variance, so you should at least double these numbers if no-limit is your game. Remember that the bigger your bankroll is relative to the limits, the less likely it is you will go broke if you are a winning player.
There are, however, other casino games that offer positive expectation. Video Poker is one of them, believe it or not. But far from every video-poker machine offers +EV, but when you stumble across one, you are able to play risk-free video poker (over the long term).
But how can a casino give players an edge?
The thing is that very few deploy the perfect strategy while playing, and therefore give up the edge. So the casino can afford to give players the opportunity to break even or win a little - very few manages to do it anyway.
In this type of game, bankroll management is all about handling the swings. You should have enough to survive a cold streak. Signing up at a casino that offers decent casino bonuses is one way to boost your bankroll. Having a larger bankroll improves your chances of surviving a cold streak.
Bankrolling Negative Expectation Online Games
For negative expectation games, calculate your loss rate by learning the house edge. Determine how much you bet per hour and multiply by the house edge. This is your loss rate if you play perfect strategy.
Play limits that will allow your bankroll to withstand your loss rate until the time you are scheduled to replenish your bankroll.
Remember that if you enjoy casino games with negative expectation you can always look for a casino bonus to make your money last longer. If you play with a no deposit casino bonus you are not putting any of your own money at stake and therefore the negative expectation is not important when you play.