Online Casino Bankroll Management

All players have a bankroll to playing online – whether it’s big or small. Follow the tips below so you don’t lose all your money quickly. Enjoying your experience of playing online casinos is vital and you need to use your bankroll wisely if you are going to do so.

The main aim is to win whilst playing online but making your money (bankroll) last will surely make you happier. There are no certainties when it comes to the tips below but they will definitely help you make the most of your slots experience.

1. How big should my bankroll be?

Knowing what you can afford to lose is the first step in determining your bankroll – you don’t want to be spending the money you have which you need to pay your mortgage or rent for example. Putting yourself in a financial situation where you can’t afford to pay for your daily or monthly payments is not recommended in the slightest. You need to be honest and see how much you can afford to play with. If you were to have £1,000 dispensable income (after paying all bills etc), it would be sensible to play with £100 or £200 a month so you have plenty of money left over to live your life!

2. Break down your bankroll

One thing I highly recommend is to not spend all your money in 1 session. If you have £150 to play with on your favourite slots, don’t go and deposit the full £150 at your chosen online casino. You should maybe divide that up into sessions. If you play 3 times a month, only deposit £50 at a time to make your money last.

You wouldn’t go to Las Vegas with your entire bankroll on the first night. If you had $1,000 to play with, you would perhaps split it up by the number of nights you plan to play at the casinos. Same with holiday money, if you have £2,000 spending money for a 10 day holiday, you would aim to spend £200 a day. Spending your bankroll on the first day or in the first session is not wise!

One thing you need here is to be honest and true to your set bankroll. Don’t go and spend that little bit more as that is one of the first signs of chasing your losses. Keep to your target and quit when you reach that target!

3. Put your winnings to one side

If you manage to win whilst playing slot games online, you should put these winnings to one side. As with the 1st tip, you should also determine what win amount would be significant to you. If you were to play with £50 per session, winning £100 could be considered a decent win amount. Therefore, if you manage to win £100 playing slots, you should cashout this £100 immediately.

Or if you like, you could cashout your deposit amount – if you deposit £50 and manage to win £50, cashout the £50 so you have this deposit amount to use another time. Then you can afford to play again for free and also gamble the remainder of the original deposit at higher stakes in search for that big win!

I recommend you play at bet365 Games who allow you to manually flush your cashout request. This means you cannot cancel your cashout request once submitted. So, if you are playing with £100 and you win £200, you could cashout the £200 and play with the remainder of your deposit. When you request a manual flush, you won’t be tempted to play with your winnings therefore safeguarding it for another day/session.

4. Don’t ever chase your losses

If you have lost your set bankroll (which occurs quite a lot!), do not carry on playing and lose more money! You should accept you have lost and come back another time. Also, if you are losing, do not change the way you play – for example, if you are down to your last £20 (from a £100 bankroll), do not start playing at £2 a spin when you normally play at 50p a spin – this will make sure your last £20 will disappear rather quickly.

However, if you are losing, reduce your stake so your bankroll lasts longer. Another tip is to walk away from your PC or laptop and then come back in 30 minutes or an hour. Your head will be cleared and who knows, your luck may change!

5. Bet big when winning

If you are winning, I recommend you increase your stake – the reason I say this is because you are already winning so you can afford to take the risk. Let’s say you play with £50 and win £150 – this will bring your total to £200. I suggest playing £50 or so on a higher stake to see what happens. You could win even bigger which is the aim! However, set your limit as to how much you would be happy cashing out and stick to it. Make sure you don’t carry on playing at a higher stake till you lose your whole bankroll.

6. Research the slots you want to play

Playing slot games you know and like always helps – if you are playing a new game, you might not know the betting limits (they may be too high or low for you). If you want to try out a new out a new slot game, go to the Paytable or View Pays information to check out the features and betting limits before you start playing.

If you are unsure of a particular slot game, try finding it in our Online Slots section – this includes an in-depth review into the features and how much you can play for. You can also play the slot for free to make sure you like it first!

7. Know Your Limits

Knowing when to stop is crucial to enjoying your online casinos experience. If you have lost your daily or session bankroll and want to carry on playing, it is very easy to deposit using a debit or credit card. If you use NETeller for example, you would need to deposit to NETeller and from NETeller to the online casino – this extra step will make you think again about depositing when you’ve lost your bankroll.

Admitting your may have a gambling problem is the hardest thing to do – stick to the points 1 and 2 and you will be fine. If you cannot refrain yourself, take a walk or speak to a relative, partner or friend. You can always contact a casino’s support team and ask them to suspend your account for a short or extended period of time.

8. Keep calm and objective

Emotions come into play naturally if you win (happiness) or lose (disappointment) – if you can keep a clear head and keep calm, you will be able to manage your bankroll better. For example, if you are losing heavily, it’s easy to become annoyed and angry. This may lead you to increase your stake to win it all back – this is against everything outlined above and will result in your eventually losing even more.

If you are not feeling calm, take a break – get some fresh air, go for a walk, go for a smoke, have a drink. Do anything that will help you relax. Decisions are best made when you are calm and objective.

9. Claim the correct bonus

There are many bonuses offered by the casinos – you need to read the terms and conditions carefully to fully understand all the details. You need to look at wagering requirements. For example, if you get a bonus, you need to wager the bonus or deposit amount a certain amount of times before you can withdraw the bonus (and the winnings). If you withdraw before you complete the wagering requirements, you will lose the bonus.

Other things to look at are the allowed or eligible games – slots tend to contribute 100% to the wagering requirements of most bonuses but make sure you check. Another thing to consider is how the bonus is available for – for example, a bonus might need to be claimed within 24 hours or 48 hours in some cases. If you cannot complete the wagering requirements in that time frame, you shouldn’t take up the bonus.

One thing you should note at CasinoStatus.net – all our articles on bonuses and promotions will specify the important terms and conditions. This includes what has been described above including wagering requirements, eligible games, bonus time availability, bonus codes etc – not giving you this information will lead to a bad experience. If you want more information on the ins and outs of casino bonuses, read the Casino Bonuses Explained articles.

Summary

Managing your bankroll is vital to playing online casinos – if you don’t do it properly, you could lose all your money and endanger your financial stability. Play with what you can afford and be disciplined so you can enjoy the experience for a longer amount of time. One thing you should not is that managing your bankroll more efficiently will not change your chances of winning or losing – no-one can pre-determine what will happen in that respect.