Enjoying long-term gambling success requires a certain amount of discipline and strategy. Responsible gambling means applying a healthy dose of common sense to your approach to gaming and entertainment.
Bankroll management should play a central role in any responsible gambler’s approach to entertainment provided by the casino. This ultimately safeguards the casino as well as the player, ensuring a long and successful relationship between the two parties. Below are our top casino bankroll management tips.
Have A Budget
When setting bankroll aside for casino games, this should be money you can absolutely afford to do without. The golden rule is, if you can’t afford to lose it, you should not be gambling with it. Dipping into money you need to survive should never be a part of your responsible gambling and bankroll management strategy.
Regularly Bank Your Wins
Banking your wins just as soon as you’ve made a decent amount in winnings is always a good idea. This will keep you from simply putting everything you’ve won back into the casino’s pockets – which is something that can easily happen.
A good approach would be to bank an amount equal to your initial deposit just as soon as you’re able to. This will preserve your bankroll and ensure many more hours of happy playing.
Know When It’s OK To Up Your Bet
Even when sticking to a budget and applying sound bankroll management advice, upping your stake (or bet) can at times become a good approach. Upping your bet should only ever be an option in one of two instances:
- Upping your bet when on a winning streak, and a few wins to fall back on, can help you land more and bigger wins. If, however, you see yourself getting too close for comfort to your original deposit amount, you should instantly switch back to lower bets. This will safeguard your bankroll against becoming depleted.
- The second instance during which increasing your bet can become a good idea is when playing progressive jackpot slots. In such an instance, it may be necessary to play at maximum bet in order to nab that big jackpot win. It is however still always a good idea to keep your wits about you and not blindly continue playing at high bets when there’s a risk of losing all your money.
Adopt A Disciplined Approach
Self-control is an important part of any responsible casino money management strategy. Remaining in control of your budget, your emotions, and your gaming sessions is of utmost importance. This includes not visiting the casino or online casino when you’re feeling down in the dumps or frustrated. Instead, take a “time out” until such time as your emotions have quieted down.
Below are useful tips to help you apply the necessary self-control:
- Never drink yourself to the point of drunkenness when gambling. This will only lead to a numbing of your inhibitions and eventually going bust.
- Stick to your daily bankroll limit.
- Only play for as long as you’re having fun.