Managing Your Money at an Online Casino

Everyone thinks that they’ll win big at online casinos. Most gamblers have a strategy. They have a favorite game, and a method for winning that game. The part that many players forget about is managing their money. For example, many players forget the golden rule of gambling. The golden rule is simple: Do not wager any money that you cannot afford to lose. This includes money you plan to use to pay your bills, money you need for food, or any other money that has been budgeted for something other than gambling.

Managing Your MoneyOnce you’ve decided that you plan to gamble, you should decide how much money you can afford to lose. You shouldn’t spend even one cent more than that. If you decide that you can spend $50 or $100, that’s fine. Just stick to it. If you can’t stick to it, you may have a gambling problem. If you have a gambling problem, then you shouldn’t be gambling to begin with. You can ask the casino to block your access to avoid the temptation for future gambling.

After you have set your budget, you should look at the games you like, and decide how to maximize that budget at those games. For example, you shouldn’t spend more than 5% of your bankroll per hand of blackjack. The same applies to roulette. For video poker or slots, you’ll want to play an even lower percentage of your bankroll, because those games go very quickly. Be sure that you wager at a level that is consistent with what you intend to spend. If your money runs out after fifteen minutes, the temptation to make another deposit will be much higher than if your budget lasts you two hours. The challenge and fun is the same at a low-stakes table as it is at a high-stakes table. The money just goes faster at a high-stakes table.

Make sure that you know your games. If you’re not sure about the rules, go look them up. Good casinos have a review of the rules for all of their games. You can read through the rules. Then read the tips and strategies offered. Some of the tips and strategies can quickly turn your losses into wins. Be sure to utilize them. If you want to see how they work in the real game, then play the casino’s free version. Watch how quickly your play money builds up or disappears to get an idea of how you should play the real money version. It’s much better to lose a few hundred dollars in play money working out your game strategy than to lose a few hundred of your own real money!

Finally, if you’re losing, don’t keep playing. If you’re on a losing streak, play a different game, take a break, just stop. When you start losing, there’s a temptation to keep playing to get your money back. Don’t give in to the temptation. If you’re on a losing streak, it’s time to take a hint. You can try a different game or a different strategy, but if you’ve lost your bankroll, then it’s time to pack it in.

Most importantly, remember to have fun. If losing money is making you sad, then you’re not getting what you should be out of your online casino experience. It’s better to just play the free games than to be sad about your losses. It’s true that you can’t win that way, but you also can’t lose!