Too many people try to look for some esoteric system when trying to beat online casinos, when they should really be focusing on managing their bankroll instead. There isn’t one successful gambler on the planet that isn’t also a master at managing their money. Bankroll and money management should be the very first thing on your mind and you shouldn’t even start gambling if you don’t know how to monitor your spending habits. Let’s take a look at some of the things you should do to manage your money better when playing at online casinos.
Watch Your Pace
One of the things many people don’t think about when they're playing at an online casino is how much faster the pace of play is. This is especially true if you like playing games like slots.
If you want to get the most out of your sessions, you’ll need to slow down your play a little bit and readjust how much you spend on every spin. Doing this alone could allow you to stretch your playing time and not spend your entire bankroll in a few minutes.
As a rule, it's recommended that you never bet more than 1% of your bankroll on any given bet. So, if you're going in with a £150 bankroll, you should never bet more than £1.50 per spin or hand. This will not only slow down the speed at which you deplete your bankroll, but it’ll also make sure that you don't lose too much in one go.
If you want to know how long your bankroll will last based on how fast you play, there are many slot pace calculators that you can use. They will allow you to input information about a machine’s RTP, your starting bankroll, and your average bet per spin and see how long you should last. You’ll then be able to make adjustments accordingly.
Set Limits
You also have to set hard limits on your gambling sessions before you start. You need to have a time limit, a loss limit, and even a limit on the amount of money you win. Setting a cap on your winnings is what will allow you to leave with your money and not fall victim to the “gambler’s high”. Playing with a hot hand can be as dangerous as trying to chase your losses, so be careful.
Always Play with a Clear Head
It's okay to have a martini or two when gaming online, but you have to watch out. There's a reason why casinos like to get players drunk. They know that liquid courage will play in their favour and various studies show that people tend to be more liberal with their money when they are under the influence. So, try to avoid playing under the influence of drugs and alcohol.
Another thing you should never do is play when you're "on tilt". If you don't know what this expression means, this is when people start to play more aggressively after a bad loss. This is a term that is commonly used in poker, but it can happen when playing classic games like roulette or blackjack as well.
If you are prone to anger, we would suggest that you stay away from gambling altogether. However, most people will have these episodes from time to time, and it’s important to have some sort of ritual to let out some steam when they happen.
One of the simplest things you could do if you feel yourself playing with emotion is to stop and go out for a walk. You could also sit down for a few minutes, sip a cup of caffeine-free tea, and do something completely unrelated to gambling. Once you feel like you're back down to earth, you can go back to playing.
Take Advantage of Bonuses
It’s also a good idea to take advantage of casino bonuses to the fullest. You have to know what makes a good bonus, however. There are many different types of bonuses and most of them have special requirements. The most common type of bonus is the deposit match bonus. Most casinos will offer to match your initial deposit with a cash bonus. This can be a multiplier, an exact match, or a fraction of your deposit. The bonus can extend to multiple subsequent deposits as well. On average, you can expect to have to spend around 30x your initial deposit plus your bonus to cash out, so be aware of that.
The other type of bonus you will see is no-deposit bonuses. No-deposit bonuses usually come in the form of free spins. These are probably the best type of bonus for budget-conscious players since they allow you to try online casinos free of charge. If you're looking for the casinos that offer the best no-deposit bonuses, we suggest you check out onlinecasinos.co.uk. They have a ranking of the casinos that offer the best no-deposit bonuses and also show some of the other bonuses they offer. Onlinecasinos.co.uk is also a great resource to learn about online casinos and casino bonuses in general, and they offer advice on everything from online gambling safety to gambling tips for beginners.
Separate Your Personal Finances from Your Gambling
One of the keys to being a responsible gambler is to keep your personal finances and gambling expenses separated. This is what will allow you to keep your gambling under control and not spiral out of control. Many experts advise that you don’t spend more than 15% of your gross weekly income on gambling, and we tend to agree. Even playing with 10% of your weekly income should be more than enough for you to have fun.
We would also suggest that you have a bank account specifically for gambling. You can deposit your gambling money and winnings there. This will give you a little cushion if you want to spend more money from time to time and will prevent you from having to pull money from your main account.
These are all simple tips that you can follow if you want to manage your money better when playing at online casinos. Remember to play responsibly and have a clear spending strategy before you start.
