Casino Bankroll Management – How to Set Up and Manage

Last Updated on 14.11.2024

Properly managing your casino bankroll is essential to avoid overspending and losing control. This guide will show you how to set limits, manage your budget, and keep your gaming safe and fun.

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Article Summary
How to Manage Your Casino Bankroll
  1. Set Up a Bankroll Budget
  2. Set Time and Bet Limits
  3. Set a Win/Loss Limit
  4. Keep a Record
  5. Withdraw Winnings

Step 1: Set Your Monthly Budget

Before you start playing, decide how much you are willing to spend. There is no guarantee you will win money, so you should always budget what you are willing to lose. Your budget should be based on a portion of your monthly income.

Example of a Monthly Budget in Online Casino Gambling
In the Photo: Monthly Budget in a Bankroll Tracking Sheet

Responsible gambling is essential. When planning your gambling budget, don’t calculate it based on your entire salary. Make sure you factor in your regular costs first and never spend money from your savings.

Step 2: Divide the Budget for the Whole Period

After selecting a budget, you need to plan how to spend it to ensure it lasts through the entire month. What’s the best way to do that? Divide your bet limits into smaller time periods.

  • Weekly – You should allocate roughly ¼ of the total budget per week.
  • Daily – The daily budget can be more flexible, but aim for around 3-4% of the total.
  • Per Session – Consider how frequently you will play and allocate a portion of the budget accordingly.
  • Per Bet – As a rule of thumb, this should be no more than 1-5% of the bankroll.

All licensed UK online casinos offer responsible gambling tools. You can use options such as deposit limits and maximum stake limits to help you stick to your budget plan.

Step 3: Set Both a Loss and a Win Limit

Chasing your losses refers to continuing to bet in the hope of recovering the money you’ve lost. It’s a trap known as the gambler’s fallacy, as losses don’t guarantee future wins. Setting a loss limit based on your bankroll can prevent this behaviour.

Another important rule is knowing when to stop. Even if you hit a winning streak, remember that in the long run, the house always wins. Also note that some betting systems can be particularly dangerous, as they can quickly lead to substantial losses.

What’s the best practice? Our advice is to set a win and loss limit. This will help you avoid chasing losses and gambling away your winnings.

Photo of Angelina Vodenicharova, Author on Online-Casinos.com

Angelina Vodenicharova Author and Casino Analyst
Our Expert’s Advice

I always set limits on losses and winnings, as it can be easy to lose track of your spending when you’re in the throes of an exciting gaming session.

Step 4: Keep a Record and Use Casino Tracking Tools

Setting a budget is an essential part of bankroll management. But it’s just as important to keep track of it. What’s the easiest way to track your bankroll? Record the data from each playing session.

A Casino Bankroll Management Sheet in Excel
In the Photo: Example Excel Sheet for Wager Tracking

Using an Excel spreadsheet is a simple way to track your gaming data. You can also use casino tracking tools. Here are the typical tracking options you can use:

  • Transaction history
  • Total deposits
  • Total withdrawals
  • Total net deposits
  • Profit/loss summary
  • Total stakes
  • Total winnings
  • Gameplay history
  • Bonus winnings
  • Real money winnings
  • Bonus wagering progress

Step 5: Withdraw Your Winnings

Regular withdrawals are key to successful budget management. Why? Because withdrawing prevents you from gambling away your winnings.

When should you withdraw? As a general rule, withdraw winnings to the size of your initial deposit. For example: you deposited £400, won £100, and now have an account balance of £500. You should withdraw £100, and you can continue playing with the original £400.

There are several reasons for making regular withdrawals. Here are the benefits:

  • Sense of achievement
  • Encourages disciplined bankroll management
  • Provides a clear view of profits versus losses
  • Makes it easier to budget for the following month
  • Removes the temptation to gamble away winnings

Photo of Angelina Vodenicharova, Author on Online-Casinos.com

Angelina Vodenicharova Author and Casino Analyst
Our Expert’s Advice

I withdraw my winnings when my casino account balance exceeds my initial deposit. This way, I can treat myself with my winnings and still have my original budget available for future play.

Principles of Bankroll Management

After setting up your bankroll, there are a few key principles for managing it successfully. They include:

  • Budget Within Your Means – Assess your monthly outgoings and ensure you only play with money you can afford to lose.
  • Be Disciplined – Stick to your limits and do not be tempted to spend more than you have budgeted.
  • Adjust Your Bankroll – Your outgoings may vary unexpectedly, so adjust your budget if other expenditures arise.
  • Try Games Before Betting – Playing games in demo mode gives you a good chance to try different bet sizes and work out what aligns best with your budget.
  • Avoid Progressive Betting – Progressive betting systems can quickly deplete your money, making it difficult to manage your bankroll within the month successfully.
  • Use Bonuses and Promos – Be smart when using bonuses; read the terms first and only accept them if they represent good value.

Photo of Angelina Vodenicharova, Author on Online-Casinos.com

Angelina Vodenicharova Author and Casino Analyst
About the Author

With a background in marketing, Angelina has a keen eye for emerging trends and stays ahead of the curve on the latest game releases and payment innovations. Her expertise extends to the growing world of gambling apps, where her tech-savviness allows her to offer valuable insights on optimizing gameplay.