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Building Your Bankroll as Your Gambling Lifeline

Many people make the usual error of putting aside their bankroll or money having the mentality that it's already gone, dead, done, lost, and therefore it means nothing. Wrong! This is a defeatist attitude, and it has no business in your psychological makeup.

Your bankroll is your gambling lifeline. It is essential and should be treated valuably, protected, and handled with care. In addition, it must be sufficient to carry the weight of your action. How much is in this bankroll should be determined by a couple of factors.

First, it depends on what this money means to you at that time. If this money is truly unencumbered, you will feel a lot better about making it a true bankroll. If this money is not completely unencumbered, such as when a portion of it should be used for something else, you will not handle the bankroll as well, or it may not be big enough. As a general rule, any gambling bankroll should be made up only of entirely unencumbered money, with no part of it needed for something else. Unencumbered money is free, and not scared. Encumbered money will always be scared money, and in gambling, scared money will quickly fly away.

Playing with scared money means you are afraid to lose it. This simply means that you have allocated at least some part of your bankroll either as an adequate amount, or encumbered upon something else, borrowed from a credit card maybe, which means you will have to pay it back, and probably have to do so at great stress to you, or your family. This is a bad way to start your bankroll. Always start your bankroll with free money, which will become a solid gambling stake and not frightened at the prospect of being lost.

Second, the amount of your bankroll should be determined by the kind of game you intend to play. If you wish to play $75 per bet in these games, your bankroll should reflect that action. If you wish to play higher limits than that, your bankroll should be equally higher. If you plan to play only $1 per hand, your bankroll should adjust to that. In addition, whatever your action, or intended action, your bankroll should be adequate to withstand fluctuations, not only in your fortunes as you play, but also in your decisions concerning the kinds of games you will play. For example, you may have decided to play $1 roulette on this trip, and allocated your bankroll for that action. But when you get to the casino, you discover that the game you wanted to play has been changed, payoffs have been reduced, the game is gone, or any number of factors that work against your pre-designed plan. Now what? Your bankroll should have a "slush" factor, allowing it to withstand the necessity for such on-the-spot decisions. What if you saw another kind of game, perhaps a game in a different casino and with different payoffs? Your bankroll should be adaptable to such deviations from your initial starting strategy and your perception of what your action will be.