So how do you maximize your chances of a sizable win? By carefully managing your bankroll, that’s how.
It makes sense, right? You can’t win playing online casino games if you don’t have a bankroll with which to play them. Let’s check out some bankroll management tips that are applicable to slots, roulette, blackjack or any other game you care to try.
How many bets do I need?
In general, this is going to be personal preference. You want to be betting enough that you can win significantly, but not so much that you could potentially go broke in just a few unlucky games.
So how much is that? If you have $500 put aside for visiting legal NJ online casino sites, what should you bet?
We’d recommend no more than 2.5 to 5 percent of your bankroll at once. The reason this figure is given as a range rather than a fixed percentage is so that you can adapt as the game progresses.
For example, perhaps you begin betting $15 per hand of blackjack (3 percent) and go on a winning streak. At this point you can increase your bet to $25 (5 percent) if you desire; at this juncture a $25 bet might only represent 3 percent of your new bankroll anyway!
A note on long-term expected value (EV)
Now, it should of course be clear that it is literally impossible to mathematically beat casino games over the long run regardless of your bankroll. The house edge is ever-present, and even an infinite bankroll won’t stop you eventually going broke.
However, the negative expectation of playing casino games is only realized statistically over gigantic sample sizes of hundreds of thousands of games.
For the average casino game player who will only perhaps play a few hundred games over the course of their life, the fact that they can expect to lose over a million-game sample isn’t too relevant![show-table name=cta-golden-nugget]
Avoid key mistakes: remember to bet less
A huge mistake that many online casino players make is forgetting to reduce their bets.
This is a sure-fire path to losing it all, and you must be willing to bet less when you are on a losing streak. It seems counterintuitive as you feel you want to win it all back right now, but your bankroll will last longer this way.
Take the example above of someone with a $500 bankroll. Say this person visits Golden Nugget online and bets $12.50 per hand (2.5 percent of their bankroll). If they lose $100, this $12.50 now represents 3.125 percent of their bankroll.
What they should do is adjust their bet down to $10 per hand until they recoup their losses.
Many so-called “unlucky” players simply failed to modify their bet sizing and before they knew it their bankroll was gone!