One of the most commonly asked questions by online casino players is how much of a starting bankroll would one need to become a professional table game player. But even if you’re not looking to become a professional player, many ask about the minimum amount required to enjoy some success.
Although not everyone can afford a massive bankroll, we need to find a compromise and a reasonable bankroll. There is no straightforward answer but there are some things that you should keep in mind to help you decide the size of your bankroll. Read on to learn more.
Your advantage over the casino
It is always wise to look into the particular game you have set off to play. By looking into, we mean looking at the mathematics, percentages and statistics behind the game. Even if you’re not particularly fond of numbers, it’s best to consider such information to see how best to take advantage to increase your chances of winning.
Even if you’re skilled at a particular game, it is usually not enough. A 1% advantage over the house is seen as a huge edge but some other games can give you the advantage in the region of 3%. It is always best to be wary and cautious when determining your advantage as there is always an element of error that is not usually accounted for beforehand. Although computers are highly intelligent and accurate, humans are not there yet.
How much are you willing to risk?
How much are you willing to risk in your attempt at beating the casino. If, for example, you have €500 to play with and want to place all your bankroll on one bet, the risks are high. There is a 50-50 chance of either doubling your bankroll or else losing it in one go. Most players see this as too risky. The other option would be to stake the same amount and divide it into two rounds of €250 each. It is still risky, but the risk is considerably lower than in the previous example.
The point is that the more you split your bankroll in numerous units, the more you are likely to win and the less risky it is. One of the reasons that a casino has a good advantage over the player is because the casino has a massive bankroll, which the player surely does not.
What is your betting strategy?
One very mathematically-centric betting strategy suggests a method to double the bankroll in the least amount of time possible. Known as the Kelly Criterion, this betting strategy works by dividing your bankroll into units. So, for example, if you have €1,500 as your initial bankroll and your betting unit is €20, then you have 75 units. But if you have a good session and you win €2,000, then the original unit size would have to be amended to work in favour of the increased bankroll.
If, on the other hand, your bankroll suffers a hit, then your initial bet is no longer applicable as you would be over betting your bankroll.
Ultimately, there is no direct answer to what your minimum starting bankroll should be to become a winning player as there are many factors to take into consideration. For starters, you need to determine your advantage which can be a rather complicated task and you must also be very confident when it comes to these calculations. Being slightly off by a smaller percentage can transform your great game into a disastrous one. You also have to adhere to risk control and evaluate how much you would wish to risk.
If you want to opt to the Kelly Betting Criteria, you have to resize accordingly. Taking the above suggestions into consideration, is a good indication of how you can make sure that your bankroll can last you a long time as well as the potential of striking success.
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