Why Money Management Isn’t an Effective Slot Machine Strategy

Exploring the minimal efficacy of casino money management for slot machine players.

Exploring the Minimal Efficacy of Casino Money Management for Slots Players

If you’ve ever looked into gambling strategies before, you’ve surely read a lot of information about bankroll budgeting. Every tactful wagering guide touts the need for proper bankroll management. It’s a useful tool in extending one’s entertainment value, but those who laud it as an effective gambling strategy for slots players are sorely mistaken.

Time and time again, I’ve come across online blogs that list proper bankroll management as a slot machine strategy. A strategy is something that’s meant to increase your odds of winning a game. Managing your money properly has no effect whatsoever on the house edge or odds. Don’t get me wrong – I’m not saying you shouldn’t budget your bankroll. I’m just saying that it’s a matter of player responsibility more than anything else.

What Casino Money Management Does for Players

Money management is all about extending a player’s entertainment to get the best value for your wagering dollars. If you’re going to spend an evening at the casino, and you have $200 to spend, I would suggest betting in smaller increments to make it last a few hours. Don’t drop $10 per spin into the slot machines. Stick to $1-$2 bets per spin. Win or lose, at least you’ll have had lots of pleasurable time in the casino.

Maybe you’re planing on spending 3 days in Las Vegas, and you’ve got $600 to spend at the casinos. Here’s where bankroll management becomes even more important. You don’t want to run out of money on the first day, right? Instead, you split your bankroll into 3 daily portions, $200 each. Maybe you want to do a little gambling in the morning, then come back again in the evening. You’d split that $200 again to provide two $100 budgets per day.

This kind of bankroll management is perfect for online casino players too. Maybe you only have $200 a month to wager with. You don’t want to deposit $200 on the 1st and go broke by the 2nd. Limit yourself to $15 a day. You’ll get at least two weeks out of it, plus all the small wins Lady Luck decides to toss your way.

Add in a win-limit – the point at which you’ve won enough money to quit and keep the cash – and you’re on the expressway for entertainment success!

Why Budgeting Isn’t a Slot Machine Strategy

Slot machines are a negative expectation games. No matter what you do, you’re not going to gain an advantage. Whether you bet your entire bankroll on a few spins of the reels, or spread your wagers out to last 3 days at a casino, the probabilities of winning will never increase.

In fact, the longer you spend playing slot machines, the more likely you are to lose on them. We chalk this up to short-term versus long-term variance.

The less time you spend playing, the more variance you’ll experience. So even a game with a negative expectation might proffer a win. So long as you stop after that win, a short-term player experience can become a positive win.

The more time you spend playing a game, the more likely your results are to match true mathematical probabilities. And those mathematical probabilities are what state you’ll lose. It’s what keeps casinos in business. Some players do go home winners, but many more will leave with lighter pockets to make up for it, providing the casinos with profits that equate to the house edge of each game.

Effective Bankroll Management Strategy

There’s one game available in casinos where bankroll management can be a very effective strategy. I’m talking about the one game that is not house banked – poker. In poker games, players compete against one another, therefore there is no house edge.

Managing your poker bankroll is easily done by splitting the total value into multiple sessions and/or tournaments. This is effective because you are playing against different odds, or in different circumstances, each time you buy in. You may compete against a tough set of players one session and lose that entire portion of your bankroll, then find yourself up against a table full of fish the next day, doubling or tripling that session’s spending limit.

Likewise, buying into one expensive tournament with your entire bankroll gives you only one shot at finishing in the money, where as budgeting your bankroll to join 10 smaller tournaments gives you that many chances to prevail over the competition. Thus money management is an effective tool for increasing the win rate of poker players.

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