Bankroll management, a system that is popular amongst poker players, is a financial limit that a punter imposes on themselves for a single bet or gambling session. The limit may be a strict monetary amount, or it may be a percentage of the total cash they have set aside for wagering, but the limit is not to be exceeded. Remaining within these monetary limits allows punters to account for variance so that a run of bad luck doesn’t wipe out all of the money they have put aside for gambling.
For example, you may have budgeted £50 per month for sports betting, and have set a limit for yourself of never spending more than five percent of your monthly allowance on a single wager. This means that your maximum bet will be £2.50, which minimises the risk that you will lose your entire bankroll in one go.
As in all other forms of life, it is important to remain in control when gambling and only bet what you can afford. Many online bookmakers allow their customers to set their own limits when it comes to depositing money and it is important that the user adheres to these limits. If you find that you may have trouble sticking to your pre-designated bankroll management strategy, you may want to consider learning more about betting responsibly.