Yes, if only we could print our own bankroll at home. The fact is, going to the casino without a plan for your available bankroll is a mistake. No financial strategy leads to playing denominations too high for your means. It can also lead to trips to the cashier or ATM for money beyond your bankroll. Either way, expect to overspend or have a shorter-than-expected session. Here are guidelines.
What is a Bankroll?
Your Bankroll is the amount of money an individual brings to gamble with. Expect to lose your entire bankroll before you play. So, it’s important to keep your bankroll separate from other accounts at home. It should not be part of any finances required for everyday living expenses.
Asking the Important Questions
If you want to be prepared with a large enough bankroll, you must ask yourself these questions:
- What games will I be playing?
- How long do I plan to stay?”
- What denomination do I expect to play each game?
- How long will my session(s) be?
- Is this money I can stand to lose without financial consequences?
Bankroll Management – The Best Approach
For our purposes, I will use a 3-4 hour session as our expected criteria. Also, I assume this is for recreational gamblers, not pros or first-timers. Finally, there are so many unpredictable things that can make a difference in these game bankrolls. This advice is from the people who play the most.
- Whatever you choose for a bankroll, stick to it.
- Playing different games? Divide your money up for each.
- Want to leave with money? Set a loss limit, stick to it, and add it to the next visit
- Winning? Choose a limit when you’re ahead and move on. Remember, the House Edge will eventually make the casino the big winner if you continue to play.
- Don’t chase losses. This is called the Gambler’s Fallacy. It’s never a good idea.
- Keep your emotions in check. Be ready for the ups and downs.
- Speaking of ups and downs, be aware of volatility. If a game is volatile, it will need a larger bankroll to keep you in the game.
Bankroll Suggestions By Casino Game Type
Keep in mind, these are suggestions that will give you the best run at a lasting session. Whether it’s a night trip or three nights in Las Vegas, the house edge doesn’t change. Your Bankroll must represent how long your stay will be.
1. Slot Machines – Consider Volatility
“….As a general rule of thumb, you should have a bankroll that covers 250 bets. This gives you a 90% chance of staying in action for three hours on the slots.“
If you’re betting 40 cents a spin on penny slots, a $100 bankroll gives you that 90% chance. If you’re betting 75 cents on quarter slots, the bankroll needs to rise to about $187.50, and when you bet $3 per spin on dollar slots, it’s $750.” Playing low volatility slots will lengthen your session.
2. Blackjack
Always buy in with at least 50 times the lowest bet. No exceptions. In other words, to play at a $10 table, you need $500, and so on.
Yes, many players play blackjack with too little money, especially when the tables are $15 or $25 low limit. Look for that lower denomination table if you don’t have the bankroll. If you like side bet action, stay away and save your money.
3. Craps
Bring 7 to 10 times your usual betting spread. At a $10 table, betting the pass line with 3-4-5 times odds would typically be about $60.00 (Pass Line, two come bets, and equal odds on each). This requires at least $420.
Craps bankrolls can differ greatly due to the number of bets a player will wager. There are over 100 different wagers possible. This makes it difficult to decide on a specific bankroll.
For a typical craps table with a $10 minimum, a good starting bankroll would be around $500 to $1,000. This should allow you to play comfortably. This is especially true if you’re playing with odds or making other bets besides the pass line.
4. Video Poker
150 bets to cover 400 decisions per hour (average player with perfect strategy). In other words, playing quarter VP and five coins per single line, $1.25 x 150 bets = $187.50 (round up to $200). Of course, the lower the pay table RTP (Return To Player) requires a larger bankroll. Additionally, higher volatility (Double Double Bonus, Triple Double Bonus, and so on) also means a larger bankroll.
Many serious video poker players suggest a bankroll of three to four times a royal flush on your game. If you plan to play a 25-cent Jacks or Better game, it’s a classic game. It is not a progressive game. The royal flush pays 4,000 credits, or $1,000. You need three to four times that amount. It means $3,000 to $4,000 is required to stay in the game. This helps reduce any long-term losses.
Many video poker games are 3-play, 5-play, and 10-play. While the number of hands doesn’t change the house edge, it does increase the volatility. More volatility demands a larger bankroll.
Other Table Game Suggestions (No Side Bets)
“Blackjack and other banked table games need a minimum of 50 bets. Let It Ride is an exception to this rule, requiring 150 bets.
- Three Card Poker – A good starting bankroll for 3-Card Poker should be at least 20 buy-ins. It should also be 200-300 times the average bet. For example, if the average bet is $5, your bankroll should be at least $1000
- Mississippi Stud – $800 at $10 table
- Roulette – Low Roller – $50 / Recreational Roller $200 (both on low limit tables)
- Pai Gow Poker or Face Up Pai Gow Poker – $25 minimum bet, $500 bankroll
Takeaways
Only 20% of casino visitors gamble more than $500 a visit. Remember, only bring the bankroll you can afford to lose. Play the games that will lengthen your stay, not shorten it.
More accurately, the Gambler’s Fallacy is the belief that you’re due to hit a big win because you haven’t hit one in a long time, or more broadly, the belief that an expected, random event is more likely to occur because it hasn’t happened as often as expected (which is false because something happening less than expected doesn’t cause that thing to suddenly happen to catch up with the probability).
Absolutely correct. Of course, with that understanding, hopefully the player doesn’t chase losses over the allotted bankroll. Thanks AJ
I normally go 2-5 hours on a $60-100 bankroll.
That’s pretty impressive to manage on today’s casino floor, Steve! With games requiring higher minimum bets, it can be more difficult to achieve now than it used to be, so we applaud your ability to make it work!
Yes, I agree. What do you play and what denomination? I’d love to know.
I take enough to play three days. 5000 I play $10 a spin
Making your money last for three days, regardless of budget, takes some planning, and it sounds like you do just that Susan!