Bankroll management is the practice of managing your gambling funds wisely to minimize losses and maximize potential winnings. It involves setting a budget for how much money you are willing to spend and sticking to that limit. This helps prevent overspending and encourages responsible gambling habits. Effective bankroll management also includes determining the size of your bets based on your total bankroll. A common strategy is to bet a small percentage of your total funds on each wager, which helps ensure that you can continue playing even after a few losses.