How to Manage Your Bankroll When Gambling With Crypto
Cryptocurrency is a new and sensitive form of currency that is slowly taking over the decentralized financial world. Engaging or trading with it requires heightened caution, and that caution must be transmitted while gambling online.
While playing casino games with crypto can be a straightforward process, there is an art to managing your bankroll so you can prolong your gameplay. So, let’s walk you through some crucial tips you can implement into your gameplay so you can manage your crypto funds more wisely.
Bankroll Management—The Heart of Crypto Gambling
In its most basic structure, bankroll management refers to the balance you can afford to use for crypto gambling. While gambling online, you will only be able to increase your balance by depositing into your crypto account or winning real money funds. As you can imagine, there is no one-size-fits-all answer on how you should manage a bankroll for gambling. Your strategy will vary depending on your wallet size and your crypto-gambling preferences.
Why Is It Important?
If you are completely new to the world of online gambling, before diving in, you must understand that all crypto casino games and sports betting markets are set up with a significant house edge. That way, you will never have the upper hand while gambling, so you need to know that bankroll management buys you time—in theory, at least. It allows you to bet and lose without draining your real money balance, and this is a process that all avid bettors and online gamblers apply.
Proper Bankroll Management Tips and Strategies for Crypto Gambling
Due to the fast-paced nature of online gambling, you can end up losing a lot of money quickly. Understandably, the speed at which you can potentially lose scares a lot of people away from these activities, but with proper bankroll management, you will mitigate the risk.
Choose Known Cryptocurrencies
Once you dive into the crypto gambling world, you will notice that there are countless cryptocurrencies to choose from. Generally, we suggest you stick to what you know. In that line, a Bitcoin casino for gambling can never be a bad idea. BTC is the first crypto to hit the decentralized financial sphere, and it is widely adopted in all top-class crypto casinos in the world. On the other side, if you are not quite fond of the volatile nature of cryptocurrencies such as BTC, you can shift your attention to Tether casino sites. Tether is a stablecoin, and due to its value being pegged to the US dollar, you won’t see rapid changes in its price.
Use Secure Wallets
Crypto wallets are devices or software programs that allow you to securely store your crypto keys and provide you instant access to your winnings. There are two types of wallets: software and hardware, so regardless of which ones you prefer, do your due diligence and choose a reputable one with a proven track record. Both types of wallets come with distinct advantages, so there is no uniform answer on what is the best crypto wallet for gambling—it all boils down to your preferences.
Find High-RTP Games
Choosing which games to play can go a long way in ensuring a successful bankroll management strategy for you. All games have a house edge, and they will often represent it as a return-to-player percentage. Choosing games with high RTP rates will theoretically mean that you stand a better chance of securing a profit.
Claim Crypto Casino Bonuses
Claiming the right crypto casino bonuses can significantly boost your bankroll and prolong your gameplay. As a crypto casino player, you will be due several ongoing bonuses and promotions that can come in any form—reload offers, free spins, cashback deals, etc. Always stay alert to new bonuses, read their T&Cs and use the best ones to improve your bankroll.
Avoid Progressive Betting Systems
Progressive betting systems are very risky and they understandably are labelled “bankroll killers”. Most of them work on a specific pretense that you increase your bet by a certain percentage if you lose the previous round. In theory, eventually, you will recoup your losses and emerge profitable. However, no one can predict how long it can take for a win to come around, so before you know it, you will suffer great losses. If you are to implement a betting system to your gameplay, stick to flat betting models or maybe percentage betting.
Practice Responsible Gambling
At the end of the day, bankroll management is all about responsible gambling. Winning every bet is an impossible mission, so there are several ways in which you can ensure you gamble responsibly at an Ethereum casino:
- Don’t Chase Losses: Losses are inevitable when gambling online, but don’t fall into the trap of believing that a win is just around the corner if you have already lost big chunks of money. There is always tomorrow, so never chase losses.
- Don’t Bet Under the Influence: One of the worst things you can do while gambling in any form is do that under the influence. This will 100% cloud your judgment, which will lead to you making rash decisions.
- Bet What You Can Afford to Lose: Never gamble with money you simply don’t have. Always set a budget prior to starting your gambling endeavor and make sure to stick with it. That is how you will enjoy gambling even more.
Learn The Art of Bankroll Management
Mastering the art of bankroll management when gambling with crypto can easily contribute towards having a safe and enjoyable gambling experience. By implementing the tips and strategies we mentioned above, you slightly adjust the gambling odds in your favor.
Now that you know all there is about safe bankroll management, one thing is left for you to do—register at Cryptorush and put all those strategies into practice!
FAQs
Which strategy can I use to win while gambling with crypto?
As luck plays a major role in your crypto gambling adventure, there is no winning strategy that will guarantee you profits. However, by managing your bankroll, playing high RTP games and claiming bonuses, you boost your odds slightly in your favor.
What are the games with the lowest house edge in crypto casinos?
You will be happy to know that there are games with a low house edge under every game category at a crypto casino. The likes of blackjack, craps, baccarat, and European Roulette, just to name a few, offer solid RTP rates.
Is progressive betting a good bankroll management strategy?
Progressive betting is the opposite of what bankroll management stands for. As it instructs punters to increase the bets with each new loss, they can incur significant damages to their bankroll in short periods.
