Bankroll management is one of the most critical aspects of any successful gamblers game. If you can’t effectively protect your money, you’ll quickly find yourself on the outside looking in.
Today, I’ll cover some of the keys of how to manage your slot machine bankroll. By the end of this article, you will have the tools to confidently step into the casino and know that you’ll live to fight another day.
What Is Casino Bankroll Management?
Most of you should know what a casino bankroll is. Your bankroll is money that you have set aside solely for the purpose of gambling.
Your bankroll shouldn’t be money that’s just sitting in your bank account until rent is due, or you need to pay a bill. My advice would be to set the gambling bankroll aside in a PayPal or separate checking account.
I see many gamblers who have $500 set aside for the car payment or other bills. They treat this money like a bankroll, even though it isn’t. That type of gambling can lead to undue stress at best and not being able to come up with the funds to pay your bills in the worst-case scenario.
So, if you have $100 in your dedicated bankroll, you can see the importance of growing your bankroll. Slowly developing a sustainable bankroll is a process. It takes determination and discipline to successfully maintain.
Bankroll management boils down to protecting your nest egg. The longer you can keep it in the black, the longer you’ll be able to play slots for real money.
You may even be able to grow it to such large proportions that you find yourself taking money from the bankroll to fund other interests or needs.
Sign up for the Players’ Card
Any casino you step into is going to offer some type of rewards program. VIP Clubs or Players’ Cards are a no-brainer for slots enthusiasts.
You simply insert the card into the slot machine, which tracks how much money you’re gambling per hour. It doesn’t account for how much you may win or lose.
The only consideration of your rewards is how much money you are putting into play. In turn, the casino provides you with comps or rebates based on a small percentage of the total.
A common misconception among gamblers is that machines will pay out slower when a players’ card is inserted. This couldn’t be farther from reality. The casino wants players on their machines.
Despite what most people believe, it really doesn’t matter to the casino if you win or lose. In fact, on a personal level, they may be genuinely happy when a player wins.
The casino understands that winners are good for business. They get excited, and fellow gamblers can’t help but follow in their excitement.
Casinos know that for every person that walks out the door a winner, countless others head home with empty pockets. Pay attention to special events and promotions put on by the casino also. At certain times during the week or month, casinos will offer double or even triple rewards.
Earning even a small rebate adds up over time and can do wonders for extending your bankroll.
The size of your individual bets will prove critical to maintaining your slot machine bankroll. Ideally, you should never wager with more than 2% to 3% of your total bankroll. This makes it incredibly difficult if you have $100 in your bankroll.
However, you have room to wiggle here. Most recreational gamblers will head to the casino and slap a $100 or a $20 in a slot machine.
They give little consideration to the size of their bankroll. This can lead to a poor casino experience if you don’t get extremely lucky.
If I take $100 to the casino, I plan to make it last as long as possible. Typically, my approach is to play nickel slots. If a game has 10 paylines, I’m betting at 0.5% of my allotted bankroll per spin. Incremental wins will largely offset any losses, and I’m able to enjoy my favorite games for hours without reaching $0.
Of course, the size of your bankroll will have the biggest impact on what denomination you can play slots. Indeed, the casinos often have the highest return to player or RTP on the larger denomination slots.
One of the biggest mistakes gamblers make is not knowing when to call it a day. They may get hours of play out of their daily bankroll but decide that they must be only a few more pulls away from hitting the jackpot. Before they know it, they are standing in line at the ATM.
Have you ever noticed the line at casino ATMs? Surely that many people can’t be heading to the casino with no cash on them.
At the end of the day, you’re responsible for the health of your bankroll. Take charge and have the discipline to walk away when you’ve reached your limits.
And please, stay away from the ATM. If you didn’t bring the cash with you, you likely shouldn’t be spending it on slot machines.
Use Big Wins to Grow Your Bankroll, Not Extend Your Session
Winning a big pot is why people play slots—Gamblers dream of hitting a huge jackpot and cashing in for thousands or even millions. You may never hit a million-dollar jackpot. You don’t need to win millions to have a flush bankroll, though.
Almost every slot player I know has tales of a big win. It’s what you do with these wins that can impact your bankroll the most.
Some gamblers will spend months saving money for their casino trip. They work diligently to build a decent bankroll before they ever leave home.
Imagine you save up $500 that you plan to spend on gambling. That’s a decent bankroll, and you should be able to gamble for days on your favorite slot machine.
You settle in for a relaxing session and boom. You quickly win $1,000 on a huge win. You now have a critical decision to make. I see most players roll the dice with their winnings and flush it all away.
I’m not saying this is wrong. You went to gamble. So, I’m all for gambling. But this isn’t the best bankroll management. A sensible plan would be to set aside at least half of the win for your bankroll. The fastest way to grow your gambling bankroll is by winning.
If you take 50% of substantial ($250) wins and put it towards your bankroll, you’ll be able to enjoy half of your winnings right there on the casino floor.
Better yet, you’ll be growing your gambling bankroll for the future. Keep in mind that you won’t have to gamble the other half at all. You can buy yourself a new toy that you’ve had your eye on.
The important thing is that you’re not allowing your bankroll to become stagnate. Using your wins to replenish your bankroll will go a long way to your long-term success as a gambler.
This seems obvious, but it’s easier said than done. The more feverishly you spin the reels, the quicker the house edge will become apparent.
Take a break after a winning spin. Spend a few minutes chatting up the cocktail server. Get up and explore the casino for 15 minutes. Anything you can do to slow the money from draining will suffice. I bet that the more time you can spend in the casino, the more you’re going to enjoy the overall experience.
You don’t need to repeatedly smash “spin” as soon as the reels come to a stop.
These principles are some of my favorite methods on how to manage your slot machine bankroll, but they aren’t the only tactics.
Gamblers are extremely unique. No two of us are the same, and neither is our style of play.
Whether you pick just one of these useful tips or completely overhaul your strategy, it will take patience and discipline on your part to see results.