Tips for Managing Your Online Casino Bankroll

Keen to dive into all the casino action online? We don't blame you, bud! But before you start playing with the big bucks, let's talk bankrolling. 

See, land-based casinos aren't in the business of handing out MONOPOLY money for visitors to play with, and it's the same for online casinos. Unless you're playing in demo mode or taking a Daily Free Game for a spin, y'all will need to bankroll the action with real money. 

Don't sweat it if you've never heard of bankroll management before, though. We've got the full low-down right here. Just scroll down to see for yourself. 

What is bankroll management? 

A hot term in the online casino industry, bankroll management is just a flash way to describe budgeting. More specifically, how you budget your gaming action to avoid emptying the pot. 

Bankroll management isn't the same as your standard money management budget, though. Nuh-uh! Your casino bankroll involves more maths than you'd might expect. But don't go thinking you need to be a maths whizz to become a bankroll champ – it's simpler than you might think. 

How does bankroll management work? 

The first step to managing your online bankroll is to check out your overall budget for playing casino games. Never made a budget before? Follow these steps and you'll be ace: 

1. Crunch the big numbers. Take all your fixed, non-negotiable costs, such as your monthly bills, insurance, rent etc., and compare the total against your income. Whatever's left in the pot is known as your disposable funds. 
2. Decide your budget. Once you've run the maths and found how much disposable cash you have, you can dedicate parts of the pot to different things, like entertainment or clothes. Now is the time for you to decide the amount of money y'all want to allocate to gaming online – this will be your online casino budget. 

Got your budget set? Now it's time to step into bankroll territory. Break the playing budget into equal units. The exact number of units and their worth is up to you. 

After all, everyone has their own budget and playing style – and that's what we like to see at Bally Casino! But the way bankroll management works is to reduce the risk of emptying the pot before the month's up, and hopefully boost your chances of topping it up with some sweet wins. 

So, your bankroll units should be small enough to allow you to play more than once a month, so you don't go wagering it all in one go. These units will count as one pot of cash for each playing session. The more bankroll units you have, the more times you can play a month. 

How to manage a bankroll for online casino games  

We know, we know, online casinos are awesome places packed with fun, but it's no good working out your bankroll if you're just going to forget about it in all the excitement. 

And since most online casino games are based on luck and not skill, y'all need to make sure you're managing your bankroll properly to avoid running empty. We're talking picking the best games to play, sticking to your bankroll limits and flexing them as your budget changes. 

Forget complicated management systems, though. Any online casino worth their salt should have some handy tools lined up just to help you manage your bankroll, so you can kick back and focus on flexing your casino skills. 

Take our slick Deposit Limits tool as an example. Break your monthly bankroll up into daily or weekly pots, or keep as a monthly pot, and let us know how much each one is. Then we'll send a nudge your way once you've hit the limit. 

No stress if your budget changes or your bankroll grows. Switch up your bankroll to meet your new budget and let us know under the 'Play Responsibly' section of 'My Account'. You'll find everything you need to update your deposit limits there. Pretty handy, huh? 

Now you've got your bankroll units decided and limits set, you'll want to look for ways to make your bucks go further. Wanna know two ways you can do this? You bet. 

Check the odds 

This one's for you, maths fans! Let's talk odds. The greater your odds of winning, the more chance you have of topping up your bankroll and keeping the fun going. And, on the other side of the coin, the lower your odds of winning, the greater your chances of running out of cash. 

To check your odds of winning a game, online casino players will want to look for the Return to Player (RTP) rate. A common piece of casino slang, the RTP refers to the average amount that casinos pay out to players relative to how much has been wagered on the game. Take a slot with a 95.07% RTP rate. For every £100 wagered, the casino will expect to pay out £95.07 on average.  

RTPs won't tell you exactly what your personal odds are of winning, but they're a good guide to check out if you’re looking to stretch the 'roll a little further. 

Make the most of your bonuses 

Step through the doors of an online casino and you're bound to be greeted with an exciting welcome offer. In fact, here at Bally Casino, all our new members are rewarded with 30 free spins when they sign up and deposit their first £10*! 

Consider your welcome bonus as a sweet way to top up your bankroll. Just step through the doors to get yours.  

Popular bankroll management strategies  

Consider yourself a master strategist? Then you'll want to check out these bankroll management strategies: 

Flat betting 

Remember breaking your overall playing budget into bankroll units? With the Flat Betting strategy, y'all will wager the same amount of cash on each unit. It's as simple as that.

Percentage betting 

This strategy's a simple one, bud. Just choose a percentage of your bankroll to set as the wager amount then stick to it. Your percentage wagered shouldn’t change, even if you switch games. 

The difference between this and the Flat Betting strategy is that the value of your wager can change depending on what's left in your pot. If you're up, then your wager will increase, but it'll decrease if you're running a loss. 

Confidence betting 

The clue's in the name here; Confidence betting is based on how sure you're feeling that your bet will win. Got a feeling you're likely to win? Then place a bigger wager. Hold off on playing with the big bucks if you aren't so sure. 

Kelly Criterion system 

Based on a mathematical formal, the Kelly Criterion system requires some serious maths skills to navigate but is still a hot choice with casino strategists. 

Multiply your odds of winning by the potential return on investment then plug your numbers into the following formula: (Potential return on investment – 1) / (Odds of winning-1). But that’s not all. Take your answer and multiply it by your bankroll value. That's how much you should bet according to the Kelly Criterion system, folks.

Our top betting bankroll management strategy

Now you're up to speed with casino bankrolls and can boast a solid understanding of bankroll management, wanna know our top tip? Of course, you do! 

Proper bankroll management is designed to keep the fun going. And if you're not finding it fun any more? Then it's time to take a break. Remember to stop if you find yourself on a losing streak and don't go chasing any losses. 

We know online games are packed with excitement, but only wager what you can afford to lose and don't go over your total bankroll value. 

Put your new skills to the test

Keen to flex your new bankroll skills? You're in the right place! Dive into all the action at Bally Casino to discover an epic All-American gaming experience, packed with games to choose from. 

We're talking the freshest online slots, live casino games and Vegas-style table games shipped direct from our land-based casino floors - all with a variety of RTP rates for folks hoping to take a bankroll strategy for a test run.

Go on, sign up to see for yourself.

Head over to the Bally Casino blog to brush up on even more cool casino content, with how-to guides and inside scoops from the brightest sparks in town.