Online casinos are one of the most enjoyable and potentially good value leisure options in existence – but bad bankroll management is a sure-fire way to put a quick end to your game time, whether you’re a skilled gamer or recreation casino gamer. Check out the simple precautions needed to ensure you play the casinos like a real Vegas pro (even if you are a casual player playing with pennies!)
Budget, budget, budget!
Think you’re going to win in the casinos? Well, even if you’re a low level gamer, the chances are you’re thinking about winning, whenever you surf to the slots and tables or jackpot games. However, the thing your should really think about first are your gaming funds – and in the worst case scenario, blowing them all during a run of bad luck! Ultimately, all casino players need to game with cash they are more than happy to spend having fun, be it 10.00 or 50.00 per week, or whatever sum of cash your leisure money affords. Once you have a strict budget in place, you’ll become a winner regardless of the money you win or lose from the casinos.
Never chase losses
There’s a story that was once told to me by a casino ‘old timer’, who’d forged success in Las Vegas after literally coming close to losing everything! The man essentially revealed the incredible phenomena that occurs to casino players who start chasing losses or placing silly bets with a ‘must win’ mentality. Funny as it may sound – this almost invariably results in losing, as you become involved in a scenario where the usual laws of probability seem to vanish! Suddenly, it seems that if you bet big on red at roulette – it loses, but bet on black and red wins every time. Whether this is simply sod’s law, or something more ‘cosmic’ as some proclaim, just do yourself a favor when playing in online casinos – do not chase losses!
Level-stake casino gaming
The best way to make your budget go further and to never stray towards chasing casino losses, is to game with a pre-set level stake value. For example, a sensible stake level to use in online casinos may be in the region of 2% of your bankroll (such as 2.00 stakes if your bank is 200.00). Even if you’re new to casinos or going through an awful run of fortune, this strategy can keep you gaming for a long period of time.
Compounded casino betting
Assuming you successfully game with a budget, don’t chase losses and use a level stake approach to playing casino games – you may develop the skill and luck needed to make some profit. Naturally – if you win big you’ll want to make a withdrawal, but the other option is to build-up your small winnings to lever your stakes to higher levels, without putting more cash into your account. For example, if you game with 2% of your bankroll, compounding your stakes would me gaming with the following stake levels, as your bank grows.
- 100.00 = 2.00 stakes
- 200.00 = 4.00 stakes
- 500.00 = 10.00 stakes
Without question, compounding your casino stakes is the fastest way to turn a small bankroll into significant sums of cash. Just remember to set a profit target and withdraw when you get there.