Bankroll management is often a neglected aspect in internet and land-based gambling. Players get overly fixated on winning the game which makes them forget about the role a good bankroll management strategy has in achieving that. In fact, having a good blackjack strategy and knowing all the rules of the game will not serve you much if you manage your bankroll poorly. As a result, you have to quit the game prematurely because you’ve run out of money to continue playing.
Some gamblers are known to just show up at a casino and use whatever money they have in their possession at the time. This is never a good idea whether you’re playing at a brick and mortar or a USA online casino. We recommend that you decide on the amount of money you would like to use during your session beforehand and limit yourself to this amount only. This is what we call a bankroll.
There are a number of things you need to consider when deciding on a bankroll and management thereof. You should think about the amount of money you can afford to gamble, and risk to lose. You should also consider whether losing that amount of cash will impact your lifestyle and if it’s worth it. If you go against your own better judgement and decide to gamble with money that’s above what you can afford, it’s then your responsibility to make sure that you win some money back. Given the fact that gambling is a risk, you have to also be realistic about the fact that you might never make the money back. Many fallen gamblers can attest to this.
Growing Your Bankroll
While deciding on an affordable blackjack bankroll is important, growing that bankroll is just as vital in bankroll management. Growing your bankroll does not happen overnight, it takes both time and patience. But, with the right blackjack bankroll management strategy it is possible. One bankroll management strategy to growing your bankroll is to set aside between 10% and 15% of your monthly salary, and deposit this int an account that’s separate from the one you use to pay for your everyday needs.
Many gamblers often struggle with bankroll management because they do not know how large their bankroll should be. All players are not the same. Some players can afford to gamble more money than others, making bankroll size a relative concept. But a quick tip to help you decide is to look at the table limit for your favourite blackjack game and set your bankroll size according to that. Generally speaking, you should be able to buy in using 50x the minimum bet. Having a bankroll of this size will help you recover quicker after a cold streak and not feel your losses as much because you’ve budgeted efficiently. For example, if the buy-in amount at your favourite online or land-based casino is $10, you should afford to buy in with at least $500 to be on the safe side.
How Much Should You Bet?
The next step to building a good blackjack bankroll management strategy is deciding how much money to bet each time you do. Deciding how much money to wager in a single hand of blackjack can be determined using serval factors. These factors include: the hand that you’ve been dealt. Is it good or bad? Another factor is how much money you can afford to lose in a single bet and weighing the risk if much you could potentially lose when you bet that much. But, it all boils down to only betting an amount that you are comfortable losing.
The Role of Betting Strategy in Bankroll Management
How you bet and the strategies you choose to follow obviously plays an important part in your bankroll management. Betting systems are also a good tool in helping you decide how much to bet. Most blackjack betting strategies fall into either positive progressive or negative progressive systems. With positive progression, you double your bet after a winning hand. With a negative progression strategy, you decrease your stake after every losing hand. The overall idea behind these two strategies to maximize on your wins (like the saying goes, strike while the iron is hot), and to minimize the risk of losing again by decreasing your bet when you’ve lost a hand.
Blackjack Betting Strategies
As you know by now, the blackjack strategy you use is a big part of your bankroll management plan. You’ll also see that some betting strategies can be used for many casino games, including the ones we’ve got below.
Types of Positive Progression Strategies
The Paroli Strategy
The Paroli betting strategy is one of the simplest strategies out there and is a great option for those on a bankroll management plan. With this strategy you need to decide on a base stake, which will be your initial wager as well as your wager throughout the game. This amount is increased every time you win a hand in blackjack. With this strategy, you’ll bet $10 initially, if you win, you’ll bet $20. If you win a third time you’ll bet $40 but after this return to your initial wager amount of $10.
One Half Up
This is another well known strategy in blackjack and many other casino games. Here you only increase your bet amount when you’ve achieved at least two consecutive wins.
This is just two of the available positive progression strategies. Others include the 1,3,2 and 6 system; the reverse Labouchere and contra D’ Alambert.
Types of Negative Progression Systems
Negative progression strategies work opposite to its positive counterpart. Here you increase your bet even when you’re on a losing streak and this is based on the notion that everyone is destined to win at some point.
The Martingale Strategy
The martingale strategy is probably one of the most used strategies across the board. This strategy requires that you make a standard $5 blackjack bet every time. If you win the hand, you continue betting this amount, but if you lose the hand you have to double this amount. The only risk attached this strategy is the risk of thinning your bankroll quickly. This is but one of the many negative progression strategies you can use. Others include the Labouchere and Fibonacci strategies.