Blackjack bankroll management is a critical skill that you need if you want to maximize your chances of winning. You are more likely to go broke if you do not employ an optimal online bankroll management system. Therefore, it is important that you keep track of your spending and bets.
If you do not have a solid online blackjack management system all the knowledge and skill are as good as nothing. It is for this reason that we have compiled this guide. Our team will help you with the best bankroll management strategy.
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What is Bankroll Management?
A bankroll is the amount that you set aside to spend when you gamble. Also known as money management, you need to ensure that you use some sort of strategy if you want to prolong your gameplay. Seemingly, it is easy to lose track of time and start spending more than you should. Similar to most casino games, the big thing about playing blackjack is making a profit. Therefore, it is important that you take into account bankroll management.
In most instances, players want to just log into their casino account and just start gambling. However, we strongly recommend that you do not do this. It is important that you first put in place a money management strategy. Make sure you set aside some money you are willing to spend during a blackjack session. Once the money you have set apart has depleted, you need to stop gambling and walk away.
Decide on Your Bankroll
As we have already mentioned, before you start your session, you need to make sure you set aside the amount you are willing to spend. Ensure that this amount is something you are willing to risk should you encounter a losing streak. Moreover, the amount you decide on should no affect your lifestyle in any way.
We advocate for responsible gambling; therefore, we recommend that you first pay your bills then you can choose your gambling bankroll from your surplus. If you, unfortunately, decide to use money that is more than you can afford, then it is your responsibility to make sure that you win the money back. Gambling in itself is a risky activity so you need to be realistic about the fact that you might not get your money back.
Why is Blackjack Bankroll Management Important?
It is important that you set a bankroll management system when you play blackjack because it saves you from overspending. When you gambling, you will come across swings which are also referred to as variance. And it is for this reason that you will need to employ a money management strategy. Blackjack has a high-variance game. This means that you are likely to experience huge short-term losses and big winning streaks.
Moreover, you might also quickly experience a losing streak and if you do not manage your bankroll, you will go broke quickly. Therefore, it is vital that you keep your risk of ruin very low. However, it is impossible to have a 0% risk of ruin but having a strategy can help you get close enough. The lowest risk of ruin is not all that helpful either. Your bankroll will grow very slow if you opt for a blackjack bankroll management that is too conservative. The best money management strategy is using both a high potential for bankroll growth and a low risk of ruin.
How Much Should You Bet?
There are a number of factors you need to take into account when you decide on how much you should wager. This is part of building blackjack bankroll management strategy. Let’s take a look at some of the factors to take into account:
1. The first thing you need to take into account is the type of hand you have been dealt.
2. You also need to consider the amount you are willing to lose. The truth is that blackjack is a game of chance and you might experience some losses.
3. Make sure that you are comfortable losing the money you set in your bankroll.
4. Your bankroll also has to be based on your gameplay and the house edge.
Blackjack Bankroll Management Lessons
Depending on your goals, your bankroll should average the size of your bets. Moreover, setting up a money management system will also determine the amount of time you will spend playing blackjack online. Below we take a look at some lessons to consider when setting a bankroll strategy;
Lesson 1: Not Having a Strategy
You will have a house edge that is close to 3% if you play without a money management strategy. There needs to be a clear indication of how much you will lose each hour. You need to make sure that you place the smallest bet possible, especially as a beginner player. In addition, you should try free-mode games to practise your skill.
Lesson 2: Using the Basic Strategy
The basic strategy will help reduce the house edge drastically. You can use betting strategies that will also help when playing blackjack online. Your short-term results might vary depending on the type of strategy you use. You can either use negative progression systems or positive progression strategies depending on the results you want to get.
Lesson 3: Card Counting
If you eliminate the last half a percent house edge, you can easily move to the next level of blackjack. You will have to start considering factors such as “The Kelly Criterion” and the risk of ruin when you get to this point. In addition to this, you will need to employ a far more conservative strategy in terms of your bet size. If you want to get to the net level of blackjack bankroll management, we recommend that you start experimenting with counting cards.