6 Essential Bankroll Management Tips for Online Casino Players
When people play at online casinos, the first thing they often do is start looking at strategy guides on how to play the slots properly or try to find some sort of betting system. However, more of them should be concentrating on the single most important thing when playing any online casinos: your bankroll. As a matter of fact, your bankroll is the only thing you can have 100% control of when playing. This is why you should never start a session without a clear plan in place. Here are some essential bankroll management tips for online casino players.
Look Closely at Welcome Bonuses
Don’t get too excited over crazy looking bonuses. They often have a catch, and might actually hinder bankroll management. Some will require that you play a ridiculous number of hands or wager an exorbitant amount before you even get a chance at sniffing that bonus, so always read the fine print.
Never Chase Losses
One of the worst things that you can do when you’re losing is throw away your strategy and play off of emotions only. This is commonly referred to as “tilting” in casino terms. If you feel like you’re getting emotional over a loss, the good thing about an online casino is that you can always shut it down whenever you want.
So, we suggest that you put the game down for a few minutes after a bad loss, and make sure that you respect your initial strategy once you pick it back up. Try to do something that will change your mind too, like getting fresh air, going for a walk, or listening to some relaxing music you like.
Choose the Right Casino
The casino you choose will also make a difference. Many casinos in the UK will allow you to set a limit on how much you can bet. However, this might not be something that works for everybody.
If you want to have full freedom over the money you spend, make sure that you look at the casino terms, and check out gambling sites not on gamstop on a site like Maximum Casinos. They showcase some of the best licenced non-gamstop casinos available, along with the bonuses offered. They also have a rundown of some of the games you can expect to find, and some of the software providers usually found on non-gamstop casinos.
Set a Time and Win/Loss Limit
First of all, you should have a clear gaming budget every week. Most people will suggest that you use a budget section strictly for gaming purposes. Some will say somewhere around 5% to 10% of your post-tax weekly income is good. You then want to split it between sessions.
Once you have done so, you should set a time limit and a clear limit for getting out. You also need to leave if you lose everything. This will make sure that you always bet what you can afford and that you don’t get carried away when making big wins only to lose it all after.
Keep Records
This is something players rarely do, but having a clear account of what you spent down on paper or in a document can be a great way to look back at your spending patterns and make smarter decisions. You will also be able to catch yourself if you’re in a losing streak. You might realise that you’re playing tired much more often than usual or are playing games that are less profitable.
Play Games that Have a Set Pace
Another thing we would advise is to be careful with things like slot machines. Slot machines are big winners for casinos because they are the type of game that makes bankroll control the most difficult. They can go extremely fast, and so do the losses.
Instead, we suggest you look at games like blackjack where there is a forced pace. You can’t go faster than how the cards are being dealt, and there is also a certain level of strategy that you can apply as well. Other games with a slower pace include bingo, Pai Gow Poker, and Texas Hold ‘Em.
If you manage to follow these few simple tips, you should be able to have much greater control over your wins and losses, and actually enjoy the game as it should be. Always go in with a plan, and have the discipline to follow through while using the right tools and methods to monitor your play.
