Bankroll management is crucial to successful blackjack play. Playing isn’t much fun if an individual is “one and done.” Bankroll management helps a player spread out their bankroll so that they have as many opportunities to play as possible, which gives them more chances to win.
A person that plans a night out playing blackjack may not end up playing for very long if they don’t properly plan their bankroll. Instead, they might find themselves blowing all of their money in one game or during a bad streak. This is exactly what most players want to avoid.
Proper bankroll management involves accounting for potential bad streaks by allocating one’s money and bets in such a way that has already taken into consideration such losses. There will be times in blackjack when everything thing seems to go right and other times when everything seemingly goes wrong. Being able to properly minimize the losses that a person may experience while maximizing winnings is one of the keys to successful blackjack play.
Again, the goal is to be able to cover losing streaks and still have enough money left to play. In order to do this, it is suggested that individuals always have at least 20X the amount of their minimum wager and 10x their session buy-in. For example, a player playing at a table with a $5 minimum bet should have a bankroll of $100 for that session and $1000 total in their bankroll.
Knowing when to quit is also another important aspect of bankroll management. Even the best players have bad days. It is crucial that individuals be able to recognize when one of those days is occurring and then stop playing. Being down $50 might be bad but being down $300 is much worse. Though it may be tempting to try and play yourself back into the black, sometimes you have to refrain from doing so.
Your bankroll should never be more money then you can afford to lose. If you will suffer some sort of financial hardship if you happened to lose your entire bankroll, then it’s too big and needs to be reduced.