Online casino gambling is a wonderful form of adult entertainment. It’s a great way for adults to sit back and relax while playing online casino games of chance with an opportunity to actually get paid to have fun. Of course, the fun comes from the excitement derived from playing the games and winning money on occasion.
While online casino gambling is fun, it can be a problem for people who are prone to addictive behaviors. Before anyone takes to the internet to partake in online casino gambling, they need to commit to two very important “Rules of Thumb.”
RULE OF THUMB #1: Never gamble with more money than you can afford to lose. The focus should be on allocating one’s gambling funds to the discretionary money that is left over after they have paid all of their bills and set aside some savings for a rainy day.
RULE OF THUMB #2: Online casino game odds always favor the house (the casino). If you want to play online casino games, do so for the fun of it. You should never expect to win, though it happens on occasion.
Follow These Tips For Bankroll Management
Assuming you are ready to abide by the aforementioned Rules of Thumb, you’ll come to realize that your gambling resources are limited. To ensure you get maximum enjoyment from a limited bankroll, you need to learn how to properly manage an online casino bankroll. We would like to offer the following five (5) bankroll management tips.
1. Establish Your Bankroll
After you select an online casino and complete the registration process, you’ll be ready to make an initial deposit. Your deposit immediately becomes your online casino bankroll.
If you make the right choice, you should be able to get a welcome bonus from your new online casino operator. Your bonus could be free spins on designated slots or a deposit match bonus with the bonus amount based on the amount of your first deposit. Look for exclusive no deposit bonus codes for the best bonuses available.
Since bonuses come with wagering requirements, you should not initially count them as part of your bankroll. You can do that after meeting all wagering requirements with bonus money remaining.
2. Size of Your Wagers
It’s up to you to decide how long you want each gambling session to last. You might have a few minutes to spare or want to settle in for a few hours of entertainment. Either way, you don’t want to bet your bankroll early, lose, and end up watching cable TV.
The best way to allocate your bankroll is to follow another Rule of Thumb: never wager more than 2% of your bankroll on a single spin of a reel, the flip of a card, or the roll of dice. Example: Your bankroll for blackjack is set at $100. Never wager more than $2 on a single hand. If you win $50 and your bankroll increases to $150, it’s fine to raise your bets to $3 per hand until your bankroll starts dropping again.
3. Walk Away After Losses
If you want to properly manage your online casino bankroll, every gambling session should start with you setting a limit on the amount you can tolerate losing (net losses) per session. It might be your entire bankroll or a portion thereof. Once you have set your limit, you MUST be willing to walk away when you hit your “stop-loss” level. Smart gambling requires undying discipline.
4. Walk Away After Winnings
It’s near impossible to calculate the number of times people have won good money during an online gambling session but walked away as losers from the same session. The problem? They have shown an unwillingness to take a break before their good luck turns into bad luck. Don’t be that person. Instead, quit while you’re ahead.
As you need to set a loss limit, you should also set a win limit. You might establish a 100% bankroll increase as your win limit. If and when you hit your self-prescribed win limit, you need the discipline to walk away as a winner.
Remember, the odds always favor the house. The longer you play, the more likely you are to fall victim to the odds.
5. Pick the Right Games (understanding odds)
Every casino game favors the house. If you like playing certain types of games, that’s great. However, you owe it to yourself to learn how big the casino’s advantage is per game. By law, online casino operators are required to state the house’s advantage per game.
If playing your favorite games is your goal, it’s fine to play your games with no regard for the house’s advantage. If you want to maximize your chance of winning, pick the games where the house’s advantage is at its lowest. FYI: Here is an approximation of the house’s advantage per online casino game type:
- Video Slots – 3% to 5%
- Video Poker – 5% to 8%
- Blackjack – .8% to 1.2%
- Roulette – 2.7% to 13%
- Baccarat – .5% to 1%
- Craps – 1.2% to 11%