You may find yourself completely immersed in playing the casino, but there may be a lot of things you might miss, which is why you are not winning that much. One of these is managing your online casino bankroll.
Here is the definition for those who are still beginners and have not heard yet about what a casino bankroll is. Bankroll is a term used in land-based and online casinos, referring to the amount of money the player or the casino has for gambling-related activities. In other words, bankroll pertains to the money the online casino has to pay the players.
This detailed discussion and tips list will tell you the best tips for managing your casino bankroll. Read on.
- 1. Participate In A VIP Program
- 2. Claim Deposit Bonuses
- 3. Just Play Slowly
- 4. Play For Tinier Limits
- 5. Play At A Two-Seat Machine Or Platform
- 6. Only Raise Your Bets With Your Winnings
- 7. Play Games Where The House Edge Or The Odds Can Be Reduced With Strategy
- 8. Take Breaks Frequently
- 9. Avoid Chasing Losses
- 10. Bet On Sports
1. Participate In A VIP Program
Many casinos offer some form of a loyalty program. The perks vary a lot but then often include cash backs, bonuses, free spins, and buffet, show, and room complementaries in land-based casinos.
This stuff will either offset the money you were going to spend or will be the money you have not yet had before.
Either way, these VIP programs will free up and provide you with additional money to play with. In the case of bonuses and cash backs, you can often play using this money before you spend your own money. Incredible, right? Wait ‘til you hear more of these tips.
2. Claim Deposit Bonuses
It is the same idea as what you have learned above. Claim deposit bonuses, and you will play them on the casino’s dime.
Yet, if you desire to cash out your winnings, you must adhere to the bonus terms. Usually, this means wagering several dollars before cashing out. And there is a risk. The risk is you can lose your entire winnings back to the casino.
That does not sound good, but you should always expect to lose your money. If you have this attitude, you can focus on the upside of playing with money that does not come from your own pocket. That is how to look at it. Anything you may win is generally and simply a bonus.
3. Just Play Slowly
When you win money on a virtual game or slot, you can usually deal money or hit the spin, and all the money you will win will hit your balance instantly.
But be careful. If you want your bankroll to last even longer, do not do this. Simply let the platform pay you however fast you want, which will offer you a 30- to 90-second break between rounds. It will reduce and lessen the number of rounds you play overall and the total amount of money you spend. This tip has been tested and proven.
4. Play For Tinier Limits
Another tip for managing your casino bankroll well is to play for tinier limits. For instance, you can play $0.40 per spin instead of $0.80 or $1.60. Or, play a dollar of blackjack instead of $3 or $5—that simple.
This may not be as thrilling, and you may not hit the big jackpots often, but it is also unlikely you are going to hit the jackpot anyway.
Here is the ultimate tip. Many slot machine platforms today have multiple jackpots for various budget sizes. Penny slot players can still play for and win a $30 or $100 “mini” jackpot.
At least, by doing this, you can double or triple the entertainment you are getting from a similar amount of money.
5. Play At A Two-Seat Machine Or Platform
This tip is particularly for live players. Some slot machines in land-based casinos, for example, have a bench seat that can accommodate two to three people.
For instance, you play with your spouses. Pop in $20 or $50, whatever you would spend playing by yourselves, and take turns hitting that spin button. Whoever hits the bonus round gets the opportunity to play it.
This is a fantastic way to make your bankroll last longer, presuming you do not wager over than you would if you were playing alone.
Moreover, it is a great way to spend time together, as more often than not, the platforms and games you both want to play are not proximate to each other. It takes research and continuous looking.
6. Only Raise Your Bets With Your Winnings
Everybody seems to like playing for higher stakes. Why not? It is more exciting because of the chance to win more. However, this also runs you the risk of burning through your bankroll at a quicker rate.
So here is what you can do. Set your budget at $20, say, for slots. You will play penny lines if your balance is $20 or below. If you have more than $20, then you can let yourself double your bets. If you triple your balance, you can triple your bets.
In other words, it looks like this. Your $20 balance equals $0.01 bet times the number of lines. Your $40 is equivalent to $0.02 bet times the number of lines. Your $60 equals $0.03 bet times the number of lines, and so on.
This will let you move up and down as you need without entering through too much risk. And based on experience, this does a wonderful job in making your bankroll last longer while also satisfying your desire to play for higher limits.
7. Play Games Where The House Edge Or The Odds Can Be Reduced With Strategy
These games include the types of blackjack, poker, baccarat, sports betting, video poker, and the like.
But take note, this does not mean you are going to win. No casino game can be overcome and beaten unless you learn how to count the cards or something, which is both risky and difficult to do. Most casinos may even kick you out of it.
You can cheat, beat the house, and the like, but you will end up in prison and all over the news.
But, if you learn how to play using basic strategies, which the casinos, of course, would not mind, you can avoid making mistakes that will cost you lots of money.
The better you play, the more you win. That is a rule of thumb.
8. Take Breaks Frequently
Each break you take means you are not in the casino, giving them your finances. It also gives you a chance and the opportunity to clear your head and reassess where you are at so far with your bankroll.
Plus, if you tend to disregard your own guidelines, this break can make a huge difference between making a tiny financial mistake and a big one.
9. Avoid Chasing Losses
This is a tip you hear about often but can be tough to adhere to. This is because if you lose enough money to the house, the instinct is to get it back. Moreover, casino platforms and machines are completely random, so they have nothing to do about your losses.
The bottom line is that chasing losses is not a good idea. If you are the type of person who finds themselves chasing their losses, the best thing to do is to bring what you can afford to lose. This way, you do not spend the money you have saved for future sessions.
10. Bet On Sports
Finally, bet on sports. There are a lot of casino platforms and websites that have the option for the player to bet on sports.
There you go, the top 10 tips on how you can manage your casino bankroll well. We have applied most, if not all of these tips, with varying degrees of success. We are very sure they will help you, too.
There is no denying that casino bankroll management is a vital skill to have. Did you know it is also the first skill you must develop if you want to have a good time, your best time, at an online casino? Otherwise, you might end up without money for several days before you have spent all of them in the first couple of minutes. This does not have to happen to you. Thus, using the tips above, you can manage your bankroll well and win big at the online casino.