Loading up your online casino account and then playing like a maniac may give you some fun in the short term, but if you want to enjoy playing at online casinos for the long haul you will need to adopt a more sensible approach to managing your money. The following ideas will help you to do this without fuss:
Establish a bankroll
A bankroll is a specific amount of money that you set aside for the sole purpose of playing casino games online. The bankroll can be any size you choose, but it must consist entirely of money that you can comfortably afford to lose should you happen to hit a run of bad luck at the tables.
Set a session limit
It’s no good having a bankroll if you put it all at risk every time you play. Instead you should set yourself a session limit so that you can only lose a fixed percentage of your entire bankroll in any one gaming session. For example, if you have a bankroll of £200, you might decide to risk no more than 10% of this in any 24 hour period. This will help you avoid losing everything if your luck turns sour, and also allows your session limit to increase as the size of your bankroll increases.
Abide by your limits
It should go without saying that if you happen to lose an amount that is equal to your session limit, you should stop playing. To do otherwise defeats the whole point of having session limits in the first place.
Get maximum value
An important part of effective money management is getting maximum value from every pound you spend. Be sure to look out for various deposit bonuses and promotions that you can take advantage of – they may help you increase your bankroll with relatively little effort.
Keeping records of the amount of money that you bet and win or lose on a daily basis may sound like an idea out of Accountancy Today but it really could be useful. Not only will it help you to keep track of what you are spending and when, it will also help you to identify the games which are most profitable for you.