What Is Money Management - When Talking About Online Gambling?

Money management is the term given to the way in which a person manages their bank roll for playing. Of course, the first key point to make is that a player should never gamble more than they can afford to lose - gambling can be addictive and players should ensure they are playing within their means.

Money Management Advice For Online Casino Gamblers

However, even when a player has a set amount of money to play with it is important to understand how they amount they hold translates in terms of bets that can be made. For example, if a player has $20 to play with, it is possible for them to make two $10 plays on a slot machine. However, they are highly likely to lose all their money before a single win is spun, although a winning spin at this level is likely to yield good results.

As such, a player should decide why they are playing. If a player looking to play for a set amount of time the low bets may be best. Alternatively, if a player is looking to win big they may decide that larger bets are better, although it should be recognized that a bankroll may quickly be diminished.

A player should also understand the concept of variance. Although games are often reported in terms of their percentage paybacks, variance is also a highly important consideration. This term refers to the fluctuations in bank balance a person is likely to experience. For example, both Blackjack and Video Poker offer near-100% returns. However, a blackjack player is likely to have far less fluctuations in bank balance than a Video Poker player.

Finally, consideration should be given to setting goals when playing. This may be a loss or win limit. These limits should be realistic - a $100,000 win from $10 is pretty near impossible. Similarly, a player should stick to that limit. If money has been won - cash out! If a player has lost their deposit they should wait until they are able to deposit again.

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