Building Slots Bankroll

How Much Money is Enough?

It is essential to set up a budget designated specifically for slot play before you head to a land-based casino or open an account at a real-money gambling site. We’ve said this a hundred times, but it bears repeating.

Under no circumstances should your slot bankroll consist of money earmarked for rent, food, utility bills, your mortgage, or any other necessities. Instead, set aside a separate, discretionary budget exclusively for slot play and treat it like any other form of entertainment.

So how much money is enough for a slot player? There is no one-size-fits-all answer. The exact size of a slot bankroll is flexible and depends on factors such as the denomination you play, your average bet size, how often you play, and the length of your sessions.

If you plan to play at a land-based casino, we recommend bringing only your slot bankroll and leaving your credit and debit cards at home. Taking them along is a bad idea because you might end up overspending.

Additionally, casino ATMs typically charge hefty fees you can easily avoid. When playing online, consider opening a separate bank account or signing up for an e-wallet to store your gambling funds.

Split Your Budget into Session Bankrolls

If you plan on playing slots regularly, it is best to divide your overall gambling budget into smaller portions called session bankrolls. As a general rule of thumb, you should start each session with 5% to 10% of your total slot budget.

Factors such as your risk tolerance, the type of machines you play, and your average bet per spin should also be considered when determining your session bankroll.

For example, if your overall slot budget is $1,000, the amount you set aside per session should not exceed $100. Some players prefer to think in terms of average spin amounts. In this case, it is wise to begin a session with at least 100 average bets.

The machine’s denomination and the number of paylines you activate should also be taken into account. If you plan on betting $1 per round, your session bankroll should be at least $100; when betting $0.25 per spin, you can start with $25, and so on.

With 100 average bets, you are likely to stay in the game long enough to trigger bonus features or land larger base-game wins. Using this rule, you can also calculate how much to wager per spin when you begin with a fixed session budget. For instance, if you start a session with $250, you will have 100 x $2.50 spins and should not exceed this amount on any individual wager.

Win Goals and Stop Losses

Slot players should set a ceiling on their losses as a form of damage control. This ceiling, called a stop loss, is also percentage-based. The commonly recommended range for a slot stop loss is roughly 40% to 50% of the session bankroll.

That said, each player is free to choose a percentage they are comfortable with. You should stop gambling once your bankroll drops to the predetermined level.

Greed is the downfall of many gamblers, which is why you should also establish a win goal. Your win goal is the amount of profit you are satisfied with. When you reach it, end the session, cash out your winnings, and ideally call it a day.

Realistic win goals for slots are around 30% of the session bankroll with which the player starts. While this may not seem like much to undisciplined spinners, it is better to end a session ahead, even with a small profit, than to walk away in the red.

Some players avoid fixed win goals because they find them restrictive. Instead, they work with adjustable win goals and stop losses.

This “floating” approach lets you stay in the action and lock in portions of your profit while still exercising sound bankroll management.

How to Approach Large Wins

Large wins should be treated separately from your regular win goals and stop losses. A common mistake among undisciplined spinners is winning a decent amount and then pushing their luck on higher-denomination machines in hopes of an even bigger payout.

There is nothing wrong with trying high-denomination slots after a substantial win. However, you still need to set boundaries for yourself, or you may wind up heading home with empty pockets and a long face.

Imagine, for instance, that a spin rewards you with a $1,000 payout. Split it in half and immediately put $500 aside for the rest of the session. You are free to do as you wish with the remaining $500.

If you want to try a more expensive slot, go ahead. Alternatively, you could raise your session’s stop loss while continuing with the same game. You can also spend part of the money on other entertainment or add it to your savings.

But what if you are fortunate enough to hit a multi-million-dollar jackpot like those occasionally paid by games such as Mega Moolah? In that case, consider taking a temporary break from gambling. Let the excitement subside before deciding what to do with your life-changing win.

It is also wise to consult a financial adviser, especially if you live in a jurisdiction where gambling winnings are taxed. In the United States, for example, casinos require slot players to sign a tax form before paying out any profit exceeding $1,200.