How To Manage Your Online Casino BankrollFebruary 6th, 2019
It’s not a sexy subject, but managing your budget and your bankroll is the first thing you need to know how to manage before you gamble.
When playing online casino, there are some different factors that can affect your chances of winning – bankroll management is important enough to deserve its own casino blog post.
Here at Lucky Mobile Casinos, we understand player values better than anyone and appreciate that the art of managing a casino bankroll is what separates winners from losers.
Therefore, we have put together this excellent guide to teach you the best ways to manage your online casino bankroll.
What is bankroll management?
Your bankroll is the amount of money you have set aside exclusively to play online casino.
Therefore, bankroll management is when a player recognises how much money they have available to use, which should always dictate the stakes to play, when to switch games, and when to stop.
Your initial bankroll may be more significant than most, but anyone can walk away feeling cheated.
Our top 3 Tips for managing your bankroll:
Good management is required if you want to gamble online in a smart way, regardless of your starting budget – it’s the best way to become a successful gambler.
1. Never play more money than you can afford to lose
When determining your bankroll, you need to realistically look at how much you can afford to spend at online casinos.
This means being completely honest with yourself, as you don’t want it impacting other aspects of your life – such as not being able to pay your mortgage or bills.
If you have to use a rainy day fund to play (think savings for your kid’s college or the new car), stop and read our responsible gambling page, as chances are, you can’t afford to gamble.
Only play with fun money you would otherwise use to go out to the pub, cinema, restaurant, Vegas or general entertainment. Whatever that means to you.
2. Put your winnings to one side
While careful budgeting should be your primary way to manage your bankroll, setting a betting limit will ensure you don’t blow all your deposit should you start losing more than you are winning.
While playing online casino, if you manage to win anything – these earnings should be put to one side. That’s casino slot play 101. Easier said than done, but if you have a big win, make a note of it, and only play the original deposit amount.
This way you continue to play with the money you were willing to gamble in the first place, and you are less likely to walk away with nothing.
Also make sure not to let the success to go to your head, clear your thoughts and remind yourself that random chance is playing a big part in your winnings.
3. Break down your bankroll and use the online casinos tools
Spending your entire allocation for the month in one sitting is NOT something we would advise. This would make you more inclined to spend money from other accounts – which you will most likely need for more essential expenses!
For example, if you have £200 to play with – split that into four sessions – so only deposit £50 at a time to make your money last.
You need to be honest with yourself, keep to your target and quit playing when you reach your allocated limit.
Poor management often sees gamblers wallow in debts inflicted by overspending. Most gambling sites online will have tools available to avoid that happening.
At a minimum they should be able to let you:
- Set your own daily/weekly/monthly deposit limits. Once reached you can’t deposit at that casino anymore.
- Self-exclude yourself from the casino for some time – whether that’s a week, a month or more.
- Self-exclude yourself from the casino forever. You will never be able to play there again.
Some have more complex and helpful tools ensuring you stay in control at all times. Our recommend casino for just that is Mr Green on mobile.
Managing your online casino bankroll is essential when gambling online, and if you don’t do it correctly, you could lose all your money faster than you would like, killing the fun.
Stay in control, have fun, and play on the best sites
If you would like to find out about different promotions, or reviews of many reputable live casinos, the Lucky Mobile Casinos websiteis where you need to be.
Finding the best online casinos has become an incredibly difficult task, so you can rest assured that all of our reviews are unbiased and impartial about a variety of mobile casinos, offers, promotions and platforms.
With a wealth of experience behind our team – you know we are the website you can trust.
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