Much of the success in gambling involves a thorough understanding of what you face whenever you play.
The first thing to remember is that every time you sit down to gamble, you unknowingly pay a fee for the luxury of gambling. That price is reflected in the advantages of the house, better known as the house edge, in roulette or any other gambling game. House edge is your first and biggest opponent but the second biggest opponent to you is yourself. Therefore, if you want to leave the casino as a winner, you must master the smart handling of money in it.
Self-control and conscientious spending of money should be your priority. If you get lost there, no tactics or strategy will help you. You should know that you fight on several fronts when gambling, so in addition to luck and skill, you also need a calm head if you want to leave the casino with pockets full of money.
And, Now, Tips…
Even if the ‘devil’s game’ goes in your favor, stay away from so-called insurance bets in blackjack and slots with the craziest names that “give high winnings today”. If you do not know how to manage your money conscientiously, chances are high that you will leave the casino broke.
Knowing the techniques of smart use of the money you set aside specifically for gambling (bankroll) is what distinguishes experienced players from amateurs. In this article, we will present 5 tips that you will be able to apply to manage money more efficiently while gambling in a casino.
- Determine the Bankroll
If you are a frequent casino visitor and a smart player, you should already have a predetermined gambling budget. So, you should set aside a certain amount of money that you will use only for games of chance. Budget, better known as a bankroll, is important for several reasons.
First, it helps you have a detailed insight into how you spend your money. If you use the same money for everyday things and for gambling, know that it is easy to lose the sense of reality. The second reason why the budget is important is that it provides you with great guidelines for adjusting your bet amount in games of chance.
Experts do not recommend investing more than 2 % to 5 % of your total budget. Of course, you are free to adjust the range to your needs and desires but do not overdo it. We will illustrate this with a concrete example.
Let’s say you start with a budget of $ 500. The first thing you need to determine is how much of your budget you will spend per bet. We will set the amount to be between 2 % and 10 % in this example. That means you will invest between $ 10 and $ 50 in each game. Potential rewards can seem very tempting but try to never exceed 10 %. Otherwise, you risk running out of betting money quickly.
Handling money with careful budgeting will not make you a big winner, but it will help you not to become a big loser.
- Choose the Right Games
The choice of the game also plays a big part in the smart use of money in the casino. It is important that you always choose games of chance that you know and have previously mastered. So, if you decide for, e.g. for video poker, you will first learn how to play it and then inquire how to find the best video poker machine. This knowledge will greatly protect you from big losses.
When it comes to winning money at the casino, remember that choosing the right game is the first step towards successful budgeting. If you often opt for high-risk games, you are more likely to run out of money. Dealing with money in the casino is not only important for your finances, but also for your mental state.
Although there are several examples, we will simplify our recommendation with two games of chance that are easy to learn, and have a favorable both home edge and RTP percentage (Return to Player percentage): roulette and blackjack. These two ‘classics’ of games of chance do not require any complex strategies or great prior knowledge. Instead, discipline plays a much bigger role in these two games.
The best advice we have for you is to always try the free version of any game that interests you before you decide to gamble for real money. Only in this way will you best master its basics and prepare for the right thing.
- Slow Down
This tip is especially useful for slot machine fans. If you spend a lot of time in a casino, it is important to slow down the pace of the game. Not only will you slow down your losses, but you will also have time to reconsider your financial situation. On top of those two very important things, the longer you play, the better your chances of getting loyalty points, i.e. casino comps, or best deposit bonuses at TopCasinoExpert.com.
Although it may seem to you that slowing down the game cannot significantly affect your spending of money, you are wrong. Every minute you spend away from the roulette wheel is a minute in which you will not lose money. So slow down and make sure you take breaks from whatever you play. A slower pace of play is the perfect technique for the smarter handling of money in the casino for beginners.
- Refrain From Consuming Alcohol
It is best to tell you bluntly that it is wisest not to consume alcohol if your goal is to conscientiously manage money in the casino. Yes, we understand that a large number of players, especially those who look at going to the casino as a vacation, cannot help it and drink a few shots of their favorite alcohol while considering whether to play inside or outside roulette bets.
We do not want to sound too strict but sometimes even two shots of whiskey can seriously affect your reasoning abilities. Keep in mind that it only takes one bad bet to ‘turn you off the road’. Sometimes, gambling itself is enough to bring too much excitement. Is it really worth the risk of questioning your winnings due to too much alcohol? Don’t let this lesson be learned the hard way.
- Know When to Stop
We all want and dream of a great victory. It is in human nature to always ask for more but this kind of thinking is never good. If you are lucky and got a big and unexpected winning, be smart and stop playing. Yes, yes, we know, it is difficult to interrupt the ‘lucky streak’, but believe us, there is no better decision at that moment than call it a day.
Whether you are gambling in an online casino or in some land-based bookmaker, the smart handling of money is the core of any strategy of a good bettor. The discipline you need can be difficult and painful to accept but trust us when we say it always pays off.