The House Edge is not the only thing that can kill your bankroll

[terrific]

For as long as it's inside the budget(bankroll) that we have set for gambling all day or in a specific period of time, that's all what the circumstance requires us with.

That is the important starting point, and I would not recommend people to obsess over stretching a budget as long as possible. That kind of behavior supports developing an addiction and eventually the budget will be increased or broken to accommodate some more playing, and things start going worse and worse from there.

That is the mistake of many, they are stretching over their budget when they get into a lose streak.
They think that it's just fine with a couple of dollars but the matter with that is about the discipline.
When they can let that happen alone with small amounts, it's possible that they can do it with a larger amount.
And when that discipline is gone, there's no other direction that gambler is heading but only to addiction.

[lombok]

That is the mistake of many, they are stretching over their budget when they get into a lose streak.
They think that it's just fine with a couple of dollars but the matter with that is about the discipline.
When they can let that happen alone with small amounts, it's possible that they can do it with a larger amount.
And when that discipline is gone, there's no other direction that gambler is heading but only to addiction.

Sequence of losses usually interferes with rational thinking on the part of the gambler by the betting table. Justifying little amount of money result in gradual loss of control such that subconscious is forced to go beyond the budget allocation limits that have been set earlier.

The custom of resigning to the shrinkage paves the way to huge losses without any scruples. Once the aspect of keeping within limit is no longer kept, the desire to pursue the losses automatically become an overpowering addiction crippling the common sense of all.

[nelson4lov]

The reason everyone focuses on house edge (or vig/margins if its sportsbetting) is because you lose money long term even if you have great bankroll management skills. If you have a low win rate at low odds too, no level of bankroll management will save you. I also know people that don't care about house edge or vigs/margins. All they care about is to win more often than they lose. For instance, at 4 odds, you only need a win rate above 25% to be profitable. Those odds at 40% or higher win rate are really good.

Bankroll management is important too just like other aspects of the game as you also need to be able to get better at the game itself.

[CryptoBuds]

I think on the long run, sizing kills your bankroll.

I mostly agree with point you made about percentage based sizing.

However even with 50/50 chance, 50/50 outcome doesn't necessarily mean your bankroll is safe.

A losing streak is completely normal. However if your stake is large relative to your fixed bankroll then just few consecutive losses can cause you significant damage.

Therefore sizing alone is not enough to secure any profit.

Instead we need to manage our risk in such way that even during any bad run, we don't get knocked out of the game.

[terrific]

That is the mistake of many, they are stretching over their budget when they get into a lose streak.
They think that it's just fine with a couple of dollars but the matter with that is about the discipline.
When they can let that happen alone with small amounts, it's possible that they can do it with a larger amount.
And when that discipline is gone, there's no other direction that gambler is heading but only to addiction.

Sequence of losses usually interferes with rational thinking on the part of the gambler by the betting table. Justifying little amount of money result in gradual loss of control such that subconscious is forced to go beyond the budget allocation limits that have been set earlier.

The custom of resigning to the shrinkage paves the way to huge losses without any scruples. Once the aspect of keeping within limit is no longer kept, the desire to pursue the losses automatically become an overpowering addiction crippling the common sense of all.

It leads to chasing of losses.
And when we're doing that, there's nothing good that comes out of it. The best is to accept the losses and stop.
The bankroll might have some balances left but if it's no longer looking good, there's no other way of handling it better but to leave.
We can go back anytime after tomorrow and if it's killing our sanity, that's not worth it to chase.

[EluguHcman]

Do you actually calculate your bet size as a percentage of your bankroll, or do you choose a stake based on the game and how you're feeling at the time?

All of the above bro. Lot of logic and arithmetics are conducted in there and psychological terms are also involved.
Most times we don't look at the bankrolls but our confidence on or doubt determines the wagering amounts.

Of course our confidence fails and that is the  main reason why we should always consider to wager according to our bankrolls which long term playing stability should be found a better strategy just in case of lost because winning streak would not be guaranteed.

Also note that the house edge will give us very little privilege to win otherwise, lucks is still inevitable that we don't have to wager too greedily so that we can play for a long time.

I find it to be interesting how people allow their feelings to dictate how much of their money are their willing to risk during a gambling session, even though the person is perfectly aware their feelings means nothing to the casino, which is mathematically ahead of the gambler at every step of the session, thanks to the edge of the house.

I believe if gamblers were less emotional and more mathematical, they would not lose as much money to their bad luck and there would not be as much gambling addiction as there is nowadays.

For the fact that we have this confidence and doubts on the decisions we makes which outcomes is always uncertainty demands that every bettors implies emotions to their bets rather, the mentalities of how we handles the thoughts differs whereas, some losses control while some are under control of their emotions.

Those who looses their emotions will always have more to loose because even when they are on the winning streak, greeds will definitely make them feel they are unbeatable while on the consistent, they could loose it all back to the house edges.
Those under control will always know how to manage their risks no matter how pretty their lucks might seem to shine and will always know when to stop without having to chase even their losses.

[SamReomo]

That is the mistake of many, they are stretching over their budget when they get into a lose streak.
They think that it's just fine with a couple of dollars but the matter with that is about the discipline.
When they can let that happen alone with small amounts, it's possible that they can do it with a larger amount.

One should always have limits no matter if the bet size is big or small. I know with big bets one could empty the account faster if multiple consecutive losses take place but even with small bets one can still empty the account if the losing streak is higher especially in crash/aviator games. A good gambler sets a fixed amount for betting and also decides about the bet size before placing any bets. Winning and losing is part of the game but one bank roll also plays a very important role so a responsible gambler has to take care of each factor.

[CryptoHeadlineNews]

I have been thinking, a lot of gamblers focus on the house edge, but I think bet sizing deserves just as much attention. The house edge determines the long-term expectation, but how much you risk on each bet also determines how much variance your bankroll has to survive.

I need to know how others approach this. Do you actually calculate your bet size as a percentage of your bankroll, or do you choose a stake based on the game and how you're feeling at the time?

For a gambler using 10% of his bankroll for wagering on each game, that simply means that he or she will only be able to gamble only 10 times. And by virtue he or she happens to lose 5 times without a win, then that simply means he will be left with just 50% of his bankroll. But however, each individuals has their gambling style and pattern which they adopt, and whichever that you seems to find more okay with it, as what you can afford to lose, then there is absolutely nothing wrong with it. Because irrespective the fact that the size of your bet can either sustain you to make more attempts while gambling, or lose it immediate when you wager high amount, one truth about gamble is that you can still wager smaller amount and yet still not get lucky to win. Hence, staking my bet base on how i feel and the current performance of the game is also another thing to re-consider.

[terrific]

That is the mistake of many, they are stretching over their budget when they get into a lose streak.
They think that it's just fine with a couple of dollars but the matter with that is about the discipline.
When they can let that happen alone with small amounts, it's possible that they can do it with a larger amount.

One should always have limits no matter if the bet size is big or small. I know with big bets one could empty the account faster if multiple consecutive losses take place but even with small bets one can still empty the account if the losing streak is higher especially in crash/aviator games. A good gambler sets a fixed amount for betting and also decides about the bet size before placing any bets. Winning and losing is part of the game but one bank roll also plays a very important role so a responsible gambler has to take care of each factor.

Big bets do happen when someone is desperate.
And that will empty their balances quickly and I think that there's emotional attachment to it.
We shouldn't be betting when we're too emotional and when we're chasing losses.
No matter how big our bankrolls are, it can be emptied quickly if we're also betting big.
There is no such as too big to fail when we're consistently doing that and keep on losing the most and winning a bit.

[Hispo]

For the fact that we have this confidence and doubts on the decisions we makes which outcomes is always uncertainty demands that every bettors implies emotions to their bets rather, the mentalities of how we handles the thoughts differs whereas, some losses control while some are under control of their emotions.

Those who looses their emotions will always have more to loose because even when they are on the winning streak, greeds will definitely make them feel they are unbeatable while on the consistent, they could loose it all back to the house edges.
Those under control will always know how to manage their risks no matter how pretty their lucks might seem to shine and will always know when to stop without having to chase even their losses.

Interestingly enough, I am yet to find someone who is in such control where they are able to stop their session and take their profit, without allowing freed to take over them and make them lose all what they had accumulated in a very short period of time.

Those who say they are under control are ironically the same who allow greed to mess with them. As if saying they are under control would be some kind of coping mechanism which would make them believe they are very far away from becoming addicted to gambling or betting...

[Don Pedro Dinero]

Interestingly enough, I am yet to find someone who is in such control where they are able to stop their session and take their profit, without allowing freed to take over them and make them lose all what they had accumulated in a very short period of time.

You know someone like that – it’s just that you hadn’t realised it until now: me. The thing is, I only gamble very occasionally, for relatively small amounts compared to what I could actually bet, and I know exactly what gambling is all about – I don’t pin any false hopes on it.

I’ve said this in other threads: whenever I have a big win, I immediately request a withdrawal and log out. Because I know that you’ll usually lose due to the house edge, and carrying on betting because you think you’re on a winning streak or something like that is a recipe for disaster.

[Cheema02]

I agree that bet  deserves serious attention because even if the house edge is kind little, staking always can make losing streak damage your bankroll more easily. For me, the main thing is to decide the amount that you can afford to lose and make each bet to be little compared to the amount you have already fix.

I don’t think a person is suppose to increase stake because his winning or because he wants to recover from his previous losses. Winning and losing streak can happen by accident, so discipline and consistent stake is more better than chasing after losses.

I think the size of the bet doesn't matter as long as the person has enough control to simply stop once they have exhausted the limit they have decided for their gambling activities, because the size of your bet will only give you more time for your activities. For example, some people might like it when their gambling sessions are longer, so they can extend it by placing small bets and continuing for as long as their limit stays and they haven't lost it, and they might even stop before losing the whole amount if they have already played enough and wants to stop.

But there are some gamblers who don't care whether their gambling session lasts for hours or takes just a few minutes, and these are the type of gamblers who might make larger bets to try their luck and see if they can win or not, if they win, they might continue, or stop, and if they lose, they will just go away because they have lost the decided bankroll. This is why I said that the size of your bet doesn't matter unless you deliberately want to extend your activities and spend more time in the casino.

[Somegory]

Theoretically, a longer session means more chances of wins not in the amount of money but literally the number of wins. However nothing is guaranteed because it is all based on the luck/probability/randomness or whatever we can call it but is is not under the control of anyone.

Not quite... If the casino has a mathematical advantage (and most gambling games do), then it's a long gaming session that completely destroys a player's bankroll. 🙋

The longer you play, the more noticeable it will be that you lose more often than you win. And sooner or later, you'll lose all your money.

But if your gaming session is short, you might get lucky for a while, and you'll win more often than you lose.

The mathematical theory of probability can't be fooled! Your luck may help you win in the short term. However, in the long run, mathematics always trumps luck. 🎲

You noticed that too? That's a good point there, short gaming session puts you in the good hands, it's like the casino watching you but unable to figure you out because you quit too early.

But I bet many people won't be able to do this because many are playing for fun and they want to stay for longer, it's why some even place the smallest bets so that they can go again and again for a long period of time.

For someone who only cares about fun I think it doesn't matter, I will quit if I win some money though, even if it happens after 10 seconds of starting my session.

[Renampun]

Yes, bankroll is important to keep your gambling budget in check and making sure you don't spend your whole budget too quickly.. when someone can manage their bankroll, like only using a certain percentage of their gambling budget for each session, whether they're on a win streak or not, they can make that budget last longer and avoid risking too much money at once.. this approach can make their money last longer compared to betting more cash and losing it all faster. But managing a bankroll isn't easy because not every gambler has discipline.. that's why it requires discipline and the ability to stick to your limits no matter the situation.