The first step in proper management of your bankroll is to budget a given amount to gamble with and then stick to that amount – win, lose or draw. This is an essential step in responsible gambling.
The size of your bankroll now determines your bet unit. If you are a conservative player, your bet unit should be 1% of your bankroll. For example, with a $500 bankroll your bet unit is $5 ($500 x .01 = $5). If you are an aggressive player, 2% of your bankroll may be used as your bet unit (with a $500 bankroll, your bet unit would be $500 x .02, which is $10).
The important fact to remember when establishing your bet unit is that the fewer the units, the higher the risk of bottoming out during a gaming session.
At times you can have extremely wild fluctuations in your bankroll – both positive and negative. This is the price we pay to play. Knowing this, the best bet you can ever make is to walk away from the casino game when you find yourself in the positive range (i.e., a winner).
The longer you play the more you increase your chance of getting closer to a negative outcome (i.e., a loser).
The best advice to follow is to never play games you cannot afford, never make wagers beyond your predetermined limit, and always quit when you’re ahead.