Importance of Bankroll Management

[Flatzem]

Does anyone here use bankroll management of some sort for their gambling?

Do you have a daily/weekly/monthly stop loss limit?

Do you ever chase your losses in order to get into a profit for the day/week?

[Afi4wins]

Bankroll management? I think it fits our Mr P better, hahaha. 

For me it's very simple...got money got play...no money no play! 

I make only 1 deposit a day...usually $50 or $100...and take it from there. A bust would mean waiting for tomorrow's play. Nope...no chasing of losses whatsoever, knowing well that a good day and a good win would come by sooner or later! 

[Flatzem]

58 minutes ago, Afi4wins said:

Bankroll management? I think it fits our Mr P better, hahaha. 

For me it's very simple...got money got play...no money no play! 

I make only 1 deposit a day...usually $50 or $100...and take it from there. A bust would mean waiting for tomorrow's play. Nope...no chasing of losses whatsoever, knowing well that a good day and a good win would come by sooner or later! 

That's good what you doing with that daily cap of 50 or 100 but there have been cases where I didn't cash out and thus left a large balance at the casino and then when a session went bad the entire balance was at risk plus any additional deposits after to get back the balance that was lost. You can do that a few times but when it doesn't work out just one time then all of it can be gone. So I suggest to everyone keep a small balance and set deposit limits to decrease the damage of tilted sessions/deposits. Also banks have daily limits on the use of debit cards/credit cards and they can be lowered too. Cause you could clean out your savings account without a daily limit as seen in that other thread I posted about the player who chased his slot loss by blowing 8k quid on roulette.

[cocopop3011]

7 hours ago, Flatzem said:

Does anyone here use bankroll management of some sort for their gambling?

Do you have a daily/weekly/monthly stop loss limit?

Do you ever chase your losses in order to get into a profit for the day/week?

Nope! I don't have either and  I never had since the very first time I started playing, However, I am still in complete control and make a deposit IF I have spare cash and time of course. I've learnt my lesson and never chase losses anymore.

[Afi4wins]

9 hours ago, Flatzem said:

That's good what you doing with that daily cap of 50 or 100 but there have been cases where I didn't cash out and thus left a large balance at the casino and then when a session went bad the entire balance was at risk plus any additional deposits after to get back the balance that was Lost. You can do that a few times but when it doesn't work out just one time then all of it can be gone. So I suggest to everyone keep a small balance and set deposit limits to decrease the damage of tilted sessions/deposits. Also banks have daily limits on the use of debit cards/credit cards and they can be lowered too. Cause you could clean out your savings account without a daily limit as seen in that other thread I posted about the player who chased his slot loss by blowing 8k quid on Roulette.

It always become a big problem when you have big cash lying idle in your account...always withdraw it first, but leave a small amount behind for continued playing...I always do that! Leaving big amounts in the account would most definitely be wasted away very soon after, especially when you start playing with bigger bets. Yeah, I've learnt this lesson too...way too many stupid times! Hahaha.

[pinnit2015]

During my high rolling days of circa 2006-2009, i tool would embark upon the practice of money in: loss of 2k, chase, 2k now becomes 4k, 4k becomes 10k etc. Some days i used to peg it back and don't get me wrong, even getting back to my starting balance was thrilling. But more often than not it ended in failure. 

Mixture of things but the main reason being that, for personal reasons, I lost the concept of money. They were just digits on a screen. 

Nowadays i roll at about 10% of what i used to. I took a year away from slots, spent a year working in Germany, and just stopped playing. When i came back my brain had, i think, reset itself to normal gambling and nowadays i'm more than happy to walk away 300 quid up and use it to buy x,y,z as a form of pocket money.  I was lucky in the sense that i could do that, for some they maybe can't.

Bankroll management? It's simpler than that: make a budget, pick a % to cash out, spend/put in savings the money and restart again the following month. Requires a bit of discipline but you at least see the benefits of your winnings; otherwise you're simply recycling wins back to them. If you can't do that, for whatever reason, the issues bigger and people need to carefully consider if gambling is the best for them. 

Do i miss my 10 quid plus bets on a regular basis? Kinda...but then i remember the heavy losses suffered and now, not so much. 

[ValDes]

I guess most of what we have already discussed about the so called 'gambling budgets' could be found here.  

 

[ValDes]

I guess most of what we have already discussed about "gambling budgets" could be found here.  

 

[Flatzem]

8 hours ago, pinnit2015 said:

During my high rolling days of circa 2006-2009, i tool would embark upon the practice of money in: loss of 2k, chase, 2k now becomes 4k, 4k becomes 10k etc. Some days i used to peg it back and don't get me wrong, even getting back to my starting balance was thrilling. But more often than not it ended in failure. 

Mixture of things but the main reason being that, for personal reasons, I Lost the concept of money. They were just digits on a screen. 

Nowadays i roll at about 10% of what i used to. I took a year away from slots, spent a year working in Germany, and just stopped playing. When i came back my brain had, i think, reset itself to normal gambling and nowadays i'm more than happy to walk away 300 quid up and use it to buy x,y,z as a form of pocket money.  I was lucky in the sense that i could do that, for some they maybe can't.

Bankroll management? It's simpler than that: make a budget, pick a % to cash out, spend/put in savings the money and restart again the following month. Requires a bit of discipline but you at least see the benefits of your winnings; otherwise you're simply recycling wins back to them. If you can't do that, for whatever reason, the issues bigger and people need to carefully consider if gambling is the best for them. 

Do i miss my 10 quid plus bets on a regular basis? Kinda...but then i remember the heavy losses suffered and now, not so much. 

did you ever get into table games? (baccarat/blackjack/roulette)

[pinnit2015]

1 hour ago, Flatzem said:

did you ever get into table games? (Baccarat/blackjack/roulette)

I play table games but only in land based casinos. I tend to go to these twice a month?

I love land based tbh but the gambling is kinda secondary; food, beer etc is what I’m mainly there for.

Online I used to be a big fan of video poker at 32 Red

[Poison]

On 11/13/2019 at 5:56 PM, Afi4wins said:

For me it's very simple...got money got play...no money no play! 

I make only 1 deposit a day...usually $50 or $100...and take it from there. 

I use the same strategy 

[Fiekie247]

I have a fixed Gambling budget, once it exceeds then I am done for the month. Budget is small from my personal money about $250 it used to be less like $120 or so but I play raw these days no more claiming of bonuses,

2nd of all any additional funds from the AG reviews, that gets added on top of that, so I would say in the range of $300 - $500 a month - Sometimes i lose it all and I stop until next month, however sometimes I get a decent hit maybe profit $1000 - $1500 and stop playing for a week or two and start making small deposits again and maybe a bonus or two, as I spent my winnings in my personal capacity.

So at the end of the day me winning $1000 or more makes me stop playing and Ill wait for the next month to kick in and rather keep the profit.

 

So lets add to this topic - What is your walk away point monthly? if you win x mount of money ?- How much would make you stop playing and wait for the next ''Budget Monthly Cycle" - Mine anything above $1000 - I am a low roller so that is a lot for me...

[balotelli]

Ofcourse!

Before i deposit I say "Only this and then enough"

When i loose it. Then is the bankroll out of function and all in.
 

[Flatzem]

On 11/15/2019 at 5:44 AM, Fiekie247 said:

I have a fixed Gambling budget, once it exceeds then I am done for the month. Budget is small from my personal money about $250 it used to be less like $120 or so but I Play raw these days no more claiming of bonuses,

2nd of all any additional funds from the AG reviews, that gets added on top of that, so I would say in the range of $300 - $500 a month - Sometimes i lose it all and I stop until next month, however sometimes I get a decent hit maybe profit $1000 - $1500 and stop playing for a week or two and start making small deposits again and maybe a bonus or two, as I spent my winnings in my personal capacity.

So at the end of the day me winning $1000 or more makes me stop playing and Ill wait for the next month to kick in and rather keep the profit.

 

So lets add to this topic - What is your walk away point monthly? if you win x mount of money ?- How much would make you stop playing and wait for the next ''Budget Monthly Cycle" - Mine anything above $1000 - I am a low roller so that is a lot for me...

So if you had a win of 1000usd early in the month you would wait till next month to play again to protect your profits for the month? I can understand if its near the end of the month but to do it at start of the month seems hard for some people not to play for such a long time. Perhaps you could say that you would put away 700 and play with 300 for the rest of the month. Spreading that over several deposits.

[balotelli]

1 hour ago, Flatzem said:

So if you had a win of 1000usd early in the month you would wait till next month to Play again to protect your profits for the month? I can understand if its near the end of the month but to do it at start of the month seems hard for some people not to Play for such a long time. Perhaps you could say that you would put away 700 and Play with 300 for the rest of the month. Spreading that over several deposits.

Everyone is not a gambling addict so why would it be hard?

But with your fantastic idea to push him to play for 300 hahaha maybe he will be soon

[Flatzem]

18 minutes ago, balotelli said:

Everyone is not a gambling addict so why would it be hard?

But with your fantastic idea to push him to Play for 300 hahaha maybe he will be soon 

If he gets an early big win he shouldn't necessarily be excluded from playing for the rest of the month and thus lock away 70-75% of that win to ensure it's a profitable month and just play with 25-30%. This only works for non gambling addicts who don't need to chase losses cause if you lose the 300 for example then you need to wait till next month. Shouldn't be too difficult if you keep the deposits small and spread them out over the 3 weeks till end of the month. You should be positive throughout the rest of the month knowing that you will end the month in profit unlike most players who will end up with a loss.

[balotelli]

55 minutes ago, Flatzem said:

If he gets an early big win he shouldn't necessarily be excluded from playing for the rest of the month and thus lock away 70-75% of that win to ensure it's a profitable month and just Play with 25-30%. This only works for non gambling addicts who don't need to chase losses cause if you lose the 300 for example then you need to wait till next month. Shouldn't be too difficult if you keep the deposits small and spread them out over the 3 weeks till end of the month. You should be positive throughout the rest of the month knowing that you will end the month in profit unlike most players who will end up with a loss.

Okej thats nice if its working and yes  perfect for normal players.  It must feel so good to just be satisfied. I would open new account and try to borrow money so i can chase my lost. Why i borrowed the money is because the withdrawal takes hours to get. And i cant wait because i must have my money back now now now 

[catapultaudio]

I certainly try practice good bankroll management when I play poker... especially if your playing cash games you can't be slapping your whole balance down on the table because it's so easy to get wiped out that way if you do... or end up playing with scared money which is never going to help you win either.

With slots and casino it takes on a different meaning really, and bet sizing definitely needs to be determined based on the variance of the games your playing too. But as others have said the best strategy is surely to just play with what you can afford... "chase" by playing on a different day and waiting for the wins to appear rather than by sticking in every penny in your bank account trying to cover your losses. If you are sensible then over the long term you'll start coming close to those magical 90% RTP figures ... sometimes doesn't feel like it though !