Bankroll management is undoubtedly one of the most critical things in gambling. Whether you prefer slots or table games, the better you manage your bankroll, the better your results will be in the long run.
Of course, there are several bankroll management techniques and one does not necessarily exclude the other. If you are looking for quality money management strategies, keep reading this article. They will make your life much easier when playing a online casino ireland as Betinia: https://betinia.com/ie/.
Divide your bankroll into smaller units
Splitting your bankroll into units forms the basis of many BRM strategies. Simply put, we’re talking about an easier way to count your finances.
For example, if your bankroll is $500 and your average bet is $10, the strategy is to divide that $500 by 10, which is 50 units.
The main advantage of betting units is that they will make it easier for you to manage your bankroll.
Thinking in terms of units will help you clear the monetary equation from your head so you can make decisions with a clear mind, avoiding stupid mistakes made for fear of losing.
This method will also help you avoid chasing losses. Losing 15 out of 50 units in one session sounds better than losing $150 out of $500!
Do not bet more than 2% of your bankroll at a time
Most professional bettors don’t risk more than 1% to 2% of their bankroll on a single bet. The logic revolves around not losing too much money in the short term.
Following the first point of this article, players should never bet more than one or two units at a time.
With this method, you reduce the risk of losing large sums in a single session to a online casino ireland.
Play low volatility slots
When it comes to slot machines, even if a slot machine offers a 96% return to the player, that doesn’t mean your short-term results will necessarily reflect that percentage. Conversely, the chances of bringing home much more or much less than 96% in any given session are very high.
So if you want your bankroll to last longer, you need to learn to distinguish between high and low volatility slots at any given time. online casino ireland.
Most slots do not have a volatility rating, although you can always get a rough estimate of a slot’s variation by referring to a few key points including jackpot size, bonuses and the minimum number of payments.
Let’s take an example :
- High Volatility Slots: 3 bonus rounds, $100,000 progressive jackpot, 10,000 coin payout for 5 pandas, 2,000 coin payout for 5 tigers, 1,000 coin payout for 5 monkeys, a payout of 200 coins for 5 birds, a payout of 100 coins for 5 snails.
- Low volatility slots: 1 bonus round, $10,000 progressive jackpot, 5,000 coin payout for 5 gold bars, 1,000 coin payout for 5 silver bars, 500 coin payout for 5 bars of copper, payment of 100 coins for 5 gold coins, payment of 50 coins for 5 silver coins.
The second slot features lower payouts and a smaller jackpot. Therefore, this game has a better chance of generating short-term profits.
Playing low volatility slots will allow you to win more often and keep your bankroll longer.
Pay attention to the house edge to one Online Casino Ireland
Low-margin betting accounts for a large portion of the gaming volume generated by professional gamblers. Thus, it is recommended to take a look at the house edge which will give you an idea of how much you will lose in the long run.
For example, a house edge of 1% means that you should theoretically lose $1 for every $100 wagered.
Here are some games that have a low house edge:
- Blackjack = 0.5% to 2.0%;
- Baccarat = 1.06%;
- French Roulette = 1.35%;
- Craps = 1.36%;
- Pai Gow Poker = 1.46%;
- European roulette = 2.70%.
These games, in addition to having a low house edge, also offer very good odds of winning.
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