Gambling means taking risks and in taking risks there are chances of you running at a profit or a loss. If you’re a new gambler on a limited budget, you might be wondering if it’s possible to win big at a brick-and-mortar or online casino without a large bankroll.
While the short answer is yes, you also need to have luck on your side. Read on to find out how to have fun at the casino while making your bankroll last longer and how to maximize your winnings on a budget.
The Importance of Setting a Gambling Budget
You don’t necessarily need to keep a spreadsheet, but managing your finances is the first step in learning how to win money gambling. Some people prefer to set boundaries on a set amount of money to use for gambling, but you can improve on this method by creating a budgeting structure.
For instance, you could split your money. If you go in with $100, you could split this into bills of $20. You could also go in with different bills, for example, five $10 bills, a $50 bill and 20 singles and so on.
You should also determine how many tickets you would like to buy pre-game to control your wagers. If you hit it big in your first game and get more tickets, take your money and split it all over again so that you have more tickets.
Ways To Beat the Casino With a Small Bank Roll
Learning how to win at the casino with little money and then pulling it off is very satisfying. The elusive “hit and run” and knowing that you beat the casino or sportsbook can make it all feel worthwhile. Below are some ways to have an enjoyable (and potentially successful) session with a limited gambling budget.
Take Advantage of Bonuses and Promotions
It’s a good idea to take advantage of casino comps and player’s club programs. Casinos offer new and existing players opportunities to earn free comps and points that add up over time and give you extra chances to win.
You’ll also find large bonuses for new players at online casinos. You can use the bonuses offered by these casinos to get free spins or cashback.
Make sure to read the terms and conditions for any casino bonus promotions that you accept at an online gambling site. Some online casinos restrict the games that you can play or the types of bets you can make.
Play in Tournaments and Games That Require More Skill
Tournaments are one of the best ways to win big without risking a lot of money. These could be slot tournaments, blackjack tournaments, poker tournaments and DFS (daily fantasy sports) tournaments.
In a tournament, you have a fixed buy-in and are playing against other people instead of the casino. This means you don’t have to worry about the house edge.
While slot machines may be fun, you don’t need skill to win and they have a high house edge. To maximize your chances of turning a small bankroll into a large win, you should study and play games where winning also depends on strategy and good decision-making. These will include games like video poker, blackjack and Texas Hold’em (against other players.)
Play at a Low Limit
Online casinos and sportsbooks usually have much lower betting limits than land-based casinos. While it can be hard to find a $5 blackjack table that pays 3–2 in Vegas these days, some online blackjack low-limit cash games offer bets as low as 50c.
Poker sites also offer tournaments for as little as $1. So, your bankroll tends to go further online.
Go the Smaller Jackpot Route
Whether you’re playing online slots, keno or roulette, there’s always the temptation to hit it big with the huge cash-out offers. It’s worth noting that the payoff money comes from the players, so the reward isn’t so easy to come by.
The difference in game design also plays a role in payoffs. If you decide to play slots, check the game’s volatility on the pay table. A highly volatile game will offer large wins, but the payout happens less often. When you’re playing on a tight budget, slots with low volatility are going to give smaller but more frequent wins, which will allow you to play for longer.
If you’re playing keno, you should pick smaller numbers as opposed to a large number of picks. There’s less risk involved here and you’re more likely to win. The best range of picks is 3–5.
Minimum Investment for Maximum Reward
Ultimately, gambling should be fun. The responsible approach is to ensure you never risk more than you can afford to lose. Online casinos are a safer start as they offer large bonuses for new players and typically have lower betting limits. If you’re watching your bankroll, register with BetMGM and use the guide above to maximize your winnings.
