Lesson description
Mr Blackjack shares his tips and experiences on building sizeable and sustainable bankrolls so you can play responsibly at the casino.
Calculating your bankroll. This comes back to whether you are playing blackjack to have fun or you are here to make money. Whichever reason, we'll help you determine how to calculate your bankroll so you can keep playing blackjack for longer.
If you are here to make money you need to set a certain amount aside for this business. I say business because it needs a life of its own and should not depend on outside money to survive.
You are its sole employee. You are the worker, and you have no salary as of yet. You also can not depend on the money that you invested in your blackjack company to pay your rent, food, or nights out. You have to be serious about how much you are willing to invest.
Set some rules that you will always follow and pretend the money isn’t yours to take. Say you go out and win big. It's not time to go out and play Mr CEO and buy a $300 Wagyu steak with a $40 glass of whiskey.
You are simply the employee whose job it is to grow that business. Reinvest that money back into the business. Your bankroll should be representative of a portion of your savings and the amount of disposable income you can part with on a monthly business.
When I started, I had next to nothing. My nightly bankroll was $50 but I knew that the $50 was the total amount I was willing to invest because it was all I had.
I worked as a cashier at a gas station making $6 an hour, and come Friday night it was time to hit the tables. After a few sessions, I took that $50 to $500, and then on from there.
A healthy way to look at this would be to look at your current balance in your bank account versus your bills and come up with your disposable income. This is extra money you don't need to survive. If you have $5,000 in your bank account and your disposable income is $2,000. Your initial investment would be $2,000 and then an extra $400 per month as an add-on which is 20% of your investment as a top-up.
Depending on how often you play and how well you play, you may never need the monthly top-up. The monthly top-up covers any potential downswings and ensures you aren’t touching your rent money when you are playing blackjack. Also, it will help you slow your roll if you know what I mean.
Once you have achieved your 5X goal, you can start withdrawing and spending your winnings. As a rule, try and stay at least within the 4x to 5x of your initial investment.
This lets you continue to play at the higher stakes without hurting your overall earning potential. Go out and buy yourself that Wagyu. You've earned it.
