Top bankroll management tips for online casino players
November 20, 2017 (Investorideas.com Newswire) Although playing online casino games can be a lot of fun, it's important that you play them in a responsible manner. There's no dearth of stories of people who lost every bit of their hard-earned fortune in an instant, just because they played irresponsibly. And this is where bankroll management comes into the picture.
Other than being a responsible casino player, it is also important that you play only at a reputable online casino such as Platinum Play, so that your pay outs are ensured.
Let's now take you over some important bankroll management tips that can come in handy for any type of online casino player.
Set a limit
By far the most important rule of bankroll management is that you set a spending limit and never cross it, no matter what. Decide the figure you wish to play with even before opening the casino website/application. This should be an amount that you can comfortably afford to lose without impacting your personal finances. More and more casino establishments and bookmakers are also coming up with their own responsible gambling measures, wherein they might help you set such limits.
Go over the money you earn each month, and figure out this amount after factoring in all your regular expenses, bills and savings. The idea is to set a limit for each month/week/session, and never go overboard.
Divide your bankroll
You must split up your bankroll to ensure that you don't blow away all of it in one go. For instance, if you can afford to bet £ 200 in total per month, make sure that you don't go beyond £ 50 per week. On the other hand, if you're a seasoned casino player, you could split your bankroll into number of sessions. As emphasised earlier, it's important to stick to the available amount per session, week or day.
Separate your deposits and winnings
This might not be easy to do but you must nevertheless separate your winnings from your deposit amount or bankroll. For instance, if you start with £ 50 and win another £ 50 with that, you must withdraw the initial deposit amount (if you are allowed to do that) and then set it aside. Doing so will ensure that you at least have your initial deposit back with you. It would also safeguard your bankroll as you'd be playing only with your winnings.
In case you win back the deposit amount again, repeat the withdrawal. That withdrawal could help you fund your next casino session.
Never chase your losses
There will inevitably be times when you'll lose your bets consistently. When that happens, you must never change your playing style and never chase your losses. For instance, never increase your bet amounts in an effort to win back the previous losses. If you do so, you might end up placing bets higher than what you had initially decided (and are used to), thus possibly losing even more.
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Whenever you experience such a losing streak, you must instead switch to lower stakes, and try to limit your losses. If not that, at least stick to your normal betting units.
It might also be a good idea to take a break and then come back later to see if your luck has changed!
James - Manager
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