6 Bankroll Management Tips For New Gamblers

Online gambling has grown exponentially since the beginning of the millennium. There is a limitless number of websites out there offering you systems and strategies to help you beat the bank, but the fact of the matter is that the only thing you need to do to ensure that you maintain steady success is effective bankroll management.

So whether you are looking to take up gambling as a full time profession or just wanting to top up your earnings, here are six top tips for managing your bankroll successfully.

#1 Decide on a Realistic Starting Bankroll

It pays to budget and to be aware of what you can afford. On your monthly list of priorities, gambling should be at the bottom. So, write a list of your incoming and outgoing cash for each month. Whatever you have left is the maximum you can afford. There is no point sacrificing rent or bill money in the hope you might get lucky. You must be honest with yourself, otherwise you will wind up in a whole host of financial trouble.

#2 Get Yourself a Good Bonus

Most reputable online gaming sites will offer new customers a cash bonus for signing up with them. Amounts vary, from as little as $10 to matching whatever you choose to deposit on registering. At the end of the day, it is extra cash to add to your bankroll, giving you a better edge than you initially had. Be sure to shop around. Do your research and find the best (and most reputable) casino that delivers decent bonuses.  Check out Crazy Winners for one good option that offers free spins and bonuses up to 200% for all users.  They have tons of games to check out too.

#3 Try to Maintain Your Bankroll

Of course, dips will naturally happen but what you must always try to do is separate your bankroll from your winnings. If you deposit $100 and win $300, bank your original $100 and play with your winnings. Every time you match your deposit, bank it. and you will see an increase in both your winnings and bankroll.

#4 Increase Your Stake When Winning

If you find yourself on a winning streak don’t be afraid to increase your bets. The bigger your bets, the larger your winnings. This should only be implemented when you are winning however; raising stakes because you are losing is a sure fire way of losing your bankroll.

#5 Never Chase Your Losses

If you’re losing the best advice is always to count your losses and take a break. However, if you feel that you are able to continue then the best course of action would be to play at a lower stakes table. You may find your bankroll going up at a slower rate but you will be losing a good deal less than if you tried to up your stake as mentioned earlier.

#6 Know When to Stop

Above anything else this is probably the most important tip for successfully managing a bankroll. Casinos should be an enjoyable social experience but if you don’t know when to stop then this can be incredibly damaging for you. Be disciplined, set yourself a time limit and regardless of whether you are winning or losing, stop when your time is up.

Finally, never forget that there is always a risk element to gambling. You are likely to have good days and bad days. But, if you follow our top tips then you should always have a little something so that you can always come back again – good luck!