Casino gambling should always be fun. Keep that in mind. When it isn’t fun, you should consider it an addiction. To keep your gambling fun and exciting, you really need to know (and follow) your casino gambling bankroll. Money management isn’t sexy, so players usually ignore most of the advice on handling their cash, but simply deciding what kind of a gambler you are can help you define you casino gambling bankroll.
Psychologically, every player is different. Some people play for entertainment, some play for escape, so the bottom line isn’t just about how much to risk, its also about getting what you came for. So, ask yourself:
What Do I Want?
Your bankroll has to reflect both what you can afford to risk and what you want from your casino gambling. Do you want to play for a few hours for fun – and to have a pleasant evening? Do you want to risk a little to win a lot? Do you want to plunge-in and win or lose quickly? What’s it all about, Alfie?
This may seem like a contradiction, but let us assume that you already know what you can risk. Your bankroll for the month is $500. End of story, right? Wrong. This is about your bankroll and your goals. Most likely, you will identify with one of five gambling types: social and entertainment gambler; small win-oriented gambler; big-win oriented gambler; professional gambler; degenerate gambler. If you haven’t spotted yourself yet, you will in the coming paragraphs.
Social and Entertainment Gambler
This is probably the largest category, and it houses more than half of all gamblers who insist that they play in casinos because they want either social interaction (you probably play almost exclusively poker or table games), or they want entertainment. That’s what the casino wants to hear! You love to play, you love to gamble, and if you want to socialize, you play at the tables. If you love the slots and video poker, it may be more entertainment or escape you are seeking, but you just like to play.
If you fit this category, you want hours, days, weeks of play, but you’ll settle for what you can get. To make your $500 go the farthest, you should split your monthly bankroll between the sessions you want to play. If you want to play weekly, take $125 each trip and have fun. Your mantra is: minimum bets, because you’ll be able to play longer if you reduce your variance and risk to a minimum. And, you’ll avoid bonus bets, that have a high house advantage. On occasion, you’ll go home a winner. Good for you. Overall, you’ll pay an hourly rate for your entertainment, easily figured after you play a few months and divide your loss by the hours you played. If you compare individual game win/loss records, you’ll find blackjack is your friend, Three-Card-Poker and roulette are not. Craps may be, if you only bet the pass and don’t pass line and take double odds.
Small Win Oriented Gambler
In casino parlance, you’re conservative. You like playing, you’ve got the need, buy you also really want to win a little once in a while, more often if possible. So, you’ll take advantage of winning situations by raising your bets, and you’ll even risk a little on bonus bets and proposition bets at craps. Your mantra is: press when winning. By doing so, you are likely to have an outing or two each month where you win a little, especially if you hit a nice prop bet or bonus, and you quit after pressing your bets during a winning streak and call it a night.