How to Manage Your Bankroll When Gambling at a Real Online Casino?
By Nick Anderson 6 minutes
An online casino is a place where you can have fun with your friends, make new connections, and have some “me-time” if you’re alone. While gambling establishments may be a good place for some, others find them uninteresting. The main reason for this is eternal and infernal losses. Let’s face it: no one likes to lose money in a real online casino or elsewhere. So, how can you manage your bankroll and minimize your losses?
Do Not Strive to Win All the Time
Experts talk a lot about controlling the amount of cash you are satisfied with losing at the casino, but rarely does anyone debate the number of gains at which you should stop and leave. Gambling is difficult: the odds are against you as soon as you sit at the table. Nevertheless, there are times when you are fortunate. It is at this time that greed takes over. Everyone has heard of it or even shared it for themselves: winning a big amount, then doubling down to try and get even more.
As a rule, when you enter an online casino in сanada or anywhere else, you must have the following:
- “exit plan” for both losses and wins;
- pumped self-control;
- the mood to have fun.
Yes, this implies you can end your gaming session earlier if you are fortunate enough to get some solid wins. Don’t overstay or overindulge because the odds are always stacked against you, and your streak of wins won’t continue indefinitely.
Your attitude towards gambling should be the same as that towards betting or sports. You are bound to succeed rarely, and experienced players understand this very well. They are content with the process and, if they win, do not seek to increase the already good money. They know that continuing or doubling down will only jeopardize the gains that they’ve already accumulated.
Luck in a casino visits people infrequently. If it seems to you that experienced players are constantly winning, then you are deeply mistaken. It is essential to treat the game as entertainment. So it will be easier to accept defeat, not make mistakes, and not play too much. Online casinos and betting are ruled by luck, not experience and the number of sessions played.
Over-indulgence and mania for winning are more likely phenomena in a land-based casino. When you play online, you will be led to bet more deliberately and close the site at any time to rest, but online players could still face similar problems. A novice casino player’s basic rule is sometimes to strive to win and treat roulette and slots as entertainment.
Set a Budget for Your Online Escapades
If you want to join the lucrative online gambling scene without a budget, you’re in for a rough financial shock. In the same way, if you set aside a certain amount for home use during the week, you should have an amount you are willing to lose by betting. I repeat, never bet an amount you cannot live without. Have a budget that can sustain a long losing streak. Because unfortunately, a losing streak is a devil that all players in this unforgiving world must face.
Determine Your Ideal Bankroll Size
Once you’ve decided to use your gambling bankroll, it’s time to calculate how much works for you. Depending on the size of your pocket, the bankroll can be small or large. For example, your bankroll should be thousands of dollars if you are a high roller or jackpot hunter. This is because jackpots or high-variance games pay out vast amounts over a longer period than low-variance online casino games in Canada. In addition, experts recommend a bankroll of 1,000 times the minimum bet in a game.
Do Not Withdraw All of Your Winnings
It sounds pretty simple, right? Unfortunately, most casino players remember to withdraw whatever they have used as a wager when lucky. It is better to cash out the sum equal to 1-2 initial deposit amounts, not more. Thus, you can access a casino online to play for real money the next time without making a new deposit. But this does not mean that you should play using your winnings, no matter how big it is. Keep any decent amount you win to avoid reinvesting it in your bet. You may end up losing everything.
Take Advantage of Bonuses
Freebies are casino players’ best friends. Don’t hesitate to use a freebie or bonus. The best online Canadian casino bonuses come in the form of free spins, cashback, free money, etc. As a smart player, always claim bonuses to boost your bankroll significantly. Be aware, however, that these rewards have strict wagering requirements. Free money gambling allows players to experience the variety of the game without spending a dime. Just make sure you read the fine print carefully. Also, only claim bonuses at regulated online casinos, such as the best online casino for Canadian players, King Billy. Each new authorized user receives a welcome bonus. The casino offers a welcome bonus of 100% up to C$500 plus 100 free spins for the first deposit. For the 2nd deposit: 50% up to C$500 + 50 free spins. For the 3rd: 25% up to C$1000. And for the 4th: 75% up to €/$500 + 100 free spins.
Have Self Control
Always control all your game actions. You might often be disappointed by your playmates or have a cold losing streak. In this case, take a break and do not change the gameplay to suit your mood. Always stick to your daily bankroll limit, making it harder to access funds to build up your bankroll.
Never let your emotions cloud your judgment. If you’ve lost money, don’t dive back in with more money. Take a break, have something to eat, and close shop for the day. Don’t let the What-If, Should’ve, and Could’ve Been drive your thoughts. Also, avoid drinking alcohol during gaming sessions, which may affect your decision-making ability. Control yourself and learn when you need to stop!
We hope the tips you’ve read will help you manage your online casino budget and control the situation while gambling online. You can also delve into other control formulas as you continue to play and gain experience. But until then, remember to choose your bankroll based on what you can afford to lose. If you can’t lose, don’t bet!