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  • Money Management In Online Gambling

    Money management (or bankroll management) is a vital part of any online gambling undertaking. Whether you’re playing to win, or you do it for the fun aspect alone, you should manage your bankroll properly. Proper bankroll management will help you stay in the game long enough to either let your positive expected value work for you (in the case of well handicapped sports betting and poker) or till you fill your fun tanks up (in the case of roulette, slots or video poker).

    How you manage your bankroll depends on a few important factors. First of all: the type of game that you’re playing. Online gambling games come in different shapes, sizes and expected values. If you’re playing a positive EV game like poker, the goal of your bankroll management efforts should be to provide yourself with a large enough bankroll to weather losing swings without problems and thus to stay in the game till the EV+ kicks in. This means that under proper management, your bankroll will not have to be replenished from an external source.

    In the case of negative EV games (like roulette and keno) your goal is to stay in the game long enough to get the “bang for the buck” that you are looking for. Also, in such EV- games the variance can give you a lucky break too, but only if you play for a longer while.

    How to manage your bankroll in EV+ games? Let’s take a look at poker for instance. Because you can secure EV+ through skill at the poker table, your ultimate goal shall be to win money. Even if you’re only a recreational player, losing all the time is no fun, so I suppose your goal will still be to win money. Poker bankroll management is more complex than most people would think. It begins off the felt, where signing up for a rakeback deal will give you a significant edge from the get-go. A deal like the Entraction rakeback or the Pacific Poker rakeback will boost your bankroll significantly at the end of each month, or whenever your rakeback payments are due.

    Once you’re at the table, make sure you have enough money to avoid falling victim to the variance. In Poker, a proper fixed limit bankroll would be a 100-300 BB (Big blind) one. Because it hits players with a bigger variance, NL poker requires twice as large a bankroll.

    In poker, you stack is not just a measure of your table-life: it is also a weapon which you can actively use to make money. If you go all-in on a good hand and you know your opponent will call you too, you’d do better to have a lot of money at the table as that will determine how much money you’ll take down on the hand.

    In negative EV games like in roulette and keno, your aim is to stay in the game until you’re able to add more money to your roll, or more simply put: for as long as possible. The house edge and the house drop will eat your bankroll up in time, so make sure you know exactly how much you can afford to lose.