Tips on managing your bankroll

Tips on managing your bankroll

October 17, 2017 3:00 AM
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When diving into the wonderful world of online gambling, it’s fairly easy to make some rookie mistakes. The more time you; spend gambling, the more you learn, but unfortunately some losses hit harder than others. In order to bypass some of those mistakes in iGaming, we’re here to give you a few pieces of advice – this time on bankroll management. Let’s see how you can minimize your losses and keep track of and control your bankroll when playing at online casinos.

Allocate Money for Gambling

First of all, you should have your own separate budget for online gambling. That means allocating a certain amount of money that you want to spend at online casinos – and online casinos only - and, more importantly, never, ever going over that amount. That way you won’t be running into any unexpected losses and you’ll know when it’s time to stop – that is, when you see you’re nearly running out of your online gambling funds.

The key is to make your online gambling budget realistic, respect the calculations you’ve made beforehand, stick to the plan and you should be safe.

Separate Your Deposit Money from Your Won Money

Now, this is somewhat harder to do. Namely, you need to learn how to separate your winnings from the rest of your bankroll. This can be done by setting a goal and withdrawing your initial deposit or simply putting it aside, making sure you don’t lose what you deposited in the first place. You’ve won again? Put the deposit money aside, yet again.

Perhaps the easiest way to keep track of your money is by using e-wallets like Skrill and Neteller; they’re safe, easy to use and an accepted payment method all over the internet.

Find Suitable Online Casino Games

You may not realise this right off the bat, but knowing which casino games are ideal for you will help you manage your bankroll. It’s quite logical, when you think about it. Simply put, if you continue to play online casino games that you don’t really understand, chances are you’re going to be losing money a lot quicker.

That is why you should give different casino games a shot and see what works. If it’s blackjack or roulette you seem to be mastering, stick with table games. If it’s online slots, spin those reels towards jackpots. Just make sure you know what you’re doing and you’ll have a much wholesome online gambling experience.

Choose the Casino Bonus That Works Best for You

Casino bonuses come in all shapes and sizes and it’s important to be able to tell which one will suit your needs and budget. This may be more difficult for new players, but casino veterans can make bad calls when it comes to bonuses, too.

The way to always know what you’re getting from a bonus and thus keeping your bankroll safe? Read its Terms and Conditions. Do your research, read the fine print, pay particular attention to the bonus’s wagering requirements, minimum deposit amounts, maximum cashout amounts and restricted countries and games and you – and your bankroll - should be fine.

Know When to Walk Away

Having a grand ol’ time at an online casino is definitely a great feeling, but when times get rough and you don’t feel like you’re doing it just for kicks anymore, it’s important to know to say ‘enough’ and walk away.

Additionally, if you feel like you aren’t able to stop, it’s extremely important to recognise the symptoms and ask for help. Having a gambling problem is no uncommon thing and, if you’re concerned about your health, don’t be embarrassed – seek assistance. Your well-being comes first, remember that!

Online Gambling Should Be Fun

Ultimately, it is extremely important to understand your gambling habits, create a specific budget for iGaming and never go over the limit you’ve made for yourself. Online gambling should be fun and you should always be in charge of your money in order to keep yourself safe.

While it’s true that managing your bankroll will not help you win more, it’ll definitely stop you from having any unnecessary losses and that is a huge deal. So, take our tips, use them to your advantage and… good luck!

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