Online slots and poker games are some of the most time fulfilling activities nowadays when everyone is stuck at home because of the pandemic. Even if you’re playing for a short time or want to stay in the game for a long run, learning how to properly manage your online finance is certainly a bonus and wouldn’t hurt to learn.
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Saving some coins here and there isn’t so hard, but not so simple either. All it takes is one bigger investment in one game you’re positive you think you will win, but it backfires and you lose a great deal. That’s why we will show you here in our article, what to avoid doing and what you should do in order to manage your online budget.
Why is setting a budget important
Learning to save money properly and know when to spend, won’t just help with your gameplay, but overall any financial situation. In the case of online gambling, it’ll ensure you don’t spend your every dollar on games and always have a backup. With this strategy, you can also set goals for yourself to achieve every day.
1. Plan the budget ahead of time
Start by dividing your wager money and save-up money. For games, separate only the amounts you can afford to lose and the rest should be set aside for other activities. For example, if you separated $100 for playing, wager in only $1 or $2 maximum. This will higher your chances of winning and you spend less while playing more. But be careful, don’t get carried away with a small winning streak and place a much larger wager, there are still existing chances to lose it.
2. Don’t wager every profit
Okay, so in this case, you manage to score a really big win, but be careful to not get tempted into spending it. Once you receive the profit, separate it as well. One half into the budget and the other should also be the amount you can afford to lose, never higher. After doing this strategy for some time, you should start to see some big changes in your income.
3. Look for free practice
If you’re still a beginner or just got rusty over time, a lot of websites offer free practice games. These can be really useful in getting to know the field of playing better and also help out in smarter decisions. Once you get the gist and secrets behind this sport, you can start to occupy yourself indefinitely.
4. Don’t continue the game if you’re losing
It’s not uncommon to get some bad luck here and there, but if you catch yourself in a losing streak, it’s best to quit for the day. You can spend the amount you separated aside for playing, but don’t spend even a dollar more, because that cycle only ends with empty pockets. A lot of players have a bad habit of spending even their bankroll and separated budget in order to get a win. Don’t force the wins, play the next time you think will be better.
5. Never borrow more money to win
Players who get too caught up in a winning streak or lost way too many chances until they emptied their pockets, often ask someone for money to gamble it away or a potential win. This is a very bad idea, your chances of losing are always higher than the chance of winning. Being in debt and having no way to return the borrowed is a situation you should avoid at all costs.
6. Personalized bets
This is an amazing feature some websites offer. You can personalize the winnings and wagers according to your budget. The feature is a great way to limit your spending, but it also limits your winnings. For example, if you’re playing a slot you can personalize the bet per line.
7. Keep track of your games
This is a very crucial step in money management. Whether you write them down on a piece of paper or in your phone’s notes app, keeping track of how much you spent, won, and lost in each game every day can show your entire progress. If you catch yourself spending too much then you intended, it’s a sign you should take a break and make smarter decisions.
8. Withdraw your big wins
Winning big jackpots might be rare, but still possible. If you do happen to win double the amount you actually planned on winning, withdraw only the initial winning amount, while the rest will be used for other gameplays. If you think about it, this is a very smart strategy. The money from your bank account doesn’t get touched, while you spend the cash in the bankroll of your online casino.
9. Keep your devices and accounts locked or out of reach
It might be a little boring having to unlock your device and account every time you want to play, but if you are exposed to the risk of someone having access to your devices, it’s always better to play it safe. Don’t underestimate how important it is to keep your devices and information safe, because if someone gets ahold of them and starts gambling away your hard-earned money, you’ll have bigger problems than having to unlock your phone all the time.
A lot of big-time players use these strategies for their games, which is mostly the reason behind their success. This isn’t easy to achieve if you are used to listening to your impulses every day, because, in order for you to make smart decisions during games, you’ll need to restrict yourself to a lot of habits you used to do. Also, remember that there are a lot of online casino slots that have games based on pure luck. This would make a perfect opportunity to spend more money from your budget just to receive a small chance of winning.
We hope our article was able to help in guiding you through this process and offer what you were looking for.