Bankroll

A gambler's budget, or how much money a player has to spend on gambling.

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It's probably important to note that bankroll management techniques don't change the casino's inherent advantage over the player. Some so-called gambling experts will give advice about setting stop-loss limits and win goals as a percentage of your bankroll. For example, John Patrick suggests quitting if you lose 25% (or some other arbitrary percentage of your bankroll) or quitting if you win 25% of your bankroll (or again, some arbitrary percentage.)

The thing is, unless you're quitting literally forever, managing your bankroll in this way doesn't guarantee you a win or even a minimal loss. This strategy would have some merit if you were only planning to play one single session ever, but in reality, almost all gamblers will play multiple sessions. Mathematically though, all those session should be treated as one big session, and since the house has an advantage, the player will lose in the long run.

Bankroll management techniques are also often called "money management" techniques.

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