Most people gamble money away for the fun of it. It’s called recreational gambling. Then again, not every gambler is from the same socioeconomic class. The people at the top of the chain are commonly known as high rollers. You may also see labels like cheetah or whale associated with people who gamble with extravagant money.
Like high rollers don’t play for pennies, they don’t bet at regular sportsbooks. A lineup of premium betting sites caters to the said high rollers. The buy-in (minimum deposit) is often so high that a family can survive on it for a month!
If you’re one of the whales of sports betting, congratulations!
Then again, we don’t want you to throw away money. It’s not feasible even if you have an infinite amount. Rather, we want you to get the most out of your betting funds by employing clever strategies and bankroll management.
And to guide us through the process, we’ve invited gambling expert Jimmy Daytona, who has been working with Betzillion for years.
Jimmy Daytona Explains for The Joue: What Even is VIP Betting?
If you’re a high roller new to the betting game, you might have explored several popular betting sites yourself. And if you have a keen eye, you may have spotted the “VIP” section on these betting sites. These sections are also known as VIP programs or Loyalty Programs.
But VIP betting is not the same as becoming a part of a VIP program. What a VIP Program offers to the top bettors is the norm at VIP betting sites.
For example, high rollers at typical sportsbooks get personal account managers. And it’s usually reserved for the top-tier VIPs. VIP betting sites, on the other hand, offer account managers from the beginning.
Then there are other perks like higher withdrawal limits, bigger cashback, birthday bonuses, etc.
When it comes to land-based sportsbooks that cater to high rollers, the perks go on steroids! Many operators are known for offering private jet transfers and limousine transportation for the biggest spenders!
Bankroll Management for High Rollers
Bankroll simply means the funds you have dedicated to gambling. There is no set number for when you classify as a high roller. It’s all in the mindset and your attitude. You can become a high roller with a $100,000 budget, while others may not match your vibe with a $1,000,000 bankroll!
What matters more than the size of the bankroll is how you manage it. As long as you can stretch it out without compromising the “rizz”, you’re good to go.
Ideally, experts suggest that a gambler should break their bankroll into 100 equal units. So, for a $100,000 bankroll, one unit is $1,000. For a $1,000,000 bankroll, it’s $10,000.
The goal is to place more bets than spend more on each bet. No matter how deep your research is and how confident you are, you’re “gambling.” And gambling always comes with an element of luck.
Risk Management and Staking Strategies
Risk management is a very important concept in business. If you classify as a high roller, you know very well what a proper risk management plan can do. All you have to do is carry the concept to your gambling funds.
Breaking down your bankroll into 100 equal units is a great start. You’re risking only 1% of your bankroll for each stake. But risk management also depends on the reward, as in the winnings you get from a winning bet.
It is where staking strategies come into play. You must be a master of odds and stay on top of current news to get the bigger edge. The bigger the edge, the more you win against your risk.
For example, a bet in the Premier League finals may present a bigger opportunity to profit than all matches combined. It is one of the many areas your account manager can help! So, don’t shy away from asking for help. That’s what they’re there for.
A Look into the Betting Opportunities
Sports betting is a significantly larger market than casino games. Do you know why? Sports betting is completely dependent on luck. Research, analysis, and up-to-date information go a long way, even for high-roller betting.
As Jimmy explained in the previous section, you must separate good bets from bad ones. Here are some more killer tips from Jimmy.
- You should never put all your eggs in the same basket.
- Diversify your betting portfolio across multiple VIP betting sites.
- You can engage in unique betting practices like arbitrage.
- It would help to compare odds across the industry leaders before deciding which bookmaker gives you the largest profit for the same stake.
Privacy and Security for High Rollers
If a regular person’s online privacy is important, a VIP bettor’s privacy is super important. Betting sites that cater to this elite class of society don’t want any bad blood. So, they ensure extra-strong encryption along with other data protection measures of the websites.
Land-based betting establishments invest a lot in the proper security detail. A special security team always monitors the situation when they escort a high roller, offer catering services, or provide transportation.
Even more intriguing is that the VIP may not always see the security team in action as they like to be in the shadows!
VIP betting is a niche industry that very few fortunate people get to explore. For the same reason, they’re more vulnerable to scamming attempts or data breaches. As Jimmy has suggested, the safest path is to stick to reputable betting sites.
And if you’re new to betting as a high roller, feel free to use the tips Jimmy has shared today. If we have to pick favorites, we follow the bankroll management tips. It all comes down to how you handle your money.