When you’ve been around the block a few times in the online casino industry you will read and hear words like “Money Management” and “Bankroll Management” being used quite a lot and often interchangeably, with the former being hailed as the save all, Holy Grail that will magically turn losses into wins. This unfortunately is not the case, and we’ve decided to give a brief explanation on the exact differences between these two terms and what it means for you as a player.
Money management is typically used to refer to the practice whereby a player attempts to earn money from any form of gambling whether they use a betting system or strategy to lower the house edge and ultimately beat the house. This is generally done by increasing your betting stakes when you’re winning and reducing them when you’re losing, but this is easier said than done because you there is no real way of predicting whether you will win or lose the next bet you make. It can definitely be a fun way to play, but it’s not going to be kind to your bankroll.
We all know that strategic game play can help a player to lower the house odds on certain games, but it never completely eliminates them and so you may get lucky and win but over the long term you will still ultimately lose, even if it is lesser amounts through strategic game play than if you were making poor bets.
On the other hand, Bankroll Management refers to how you allocate your money to certain games and bets, as well as throughout the duration of your casino visit. Bankroll management usually adopts the pattern of petting level stakes (or the same amount for every bet) whether you win or lose.
So in essence, Money Management systems or betting stakes will not change the odds of any game (no matter how much you may want to believe that they do) but good bankroll management will assist you in determining and controlling the amount of money that you are willing to risk and tailor your game play accordingly so that you get the most out of it with every casino visit.