Online Slots Money Management
Written on 15th January 2020
If you’re an online casino player you may be looking for ways to optimise your gameplay experience - and one of the best ways that we can think of to do this is by going back to basics and ensuring you’re managing your slot games bankroll efficiently.
While managing your money properly will not increase your odds of winning, sound bankroll management can help you keep track of losses and wins which, in turn, enables you to enjoy your gaming experience in the knowledge that you’re gambling responsibly.
Some of these steps may be new to you; if you find yourself struggling to maintain a healthy relationship with online casino games then you should familiarise yourself with our safer gambling commitment which offers insight into the available help and support should you ever need it.
We decided to write up a helpful guide for our Pink Players to manage your bankroll to ensure you’re spinning and staking safely.
1. Set Your Bankroll Limit Before You Play
When you’re playing online slot machines or live casino games you should decide on a stake you’re happy with before you start playing. Think about how much you can afford and are comfortable to risk and limit your online buy-in to that amount.
If you’ve played through all your bankroll, walk away. Save any future spins on your slot games for another day - we’ll still be here when you come back. If you have a winning session you could extend your gameplay, put your winnings toward a well-deserved treat (hello, Starbucks!), or use it for your bankroll in your next online casino session.
2. Don’t Borrow Money To Gamble!
Borrowing money with the intention of using it to gamble is not usually a responsible move. This is particularly true if the money you borrow attracts interest, because if the worst happens and you lose what you borrowed, you will still need to repay the debt plus interest.
Stick with your own personal budget and only bet what you can afford to lose - if you remain steadfast and don’t go over this budget then you could, over time, build a larger bankroll from any potential winnings.
This is a particularly important factor in managing your online slots money - but it’s a very sensible step in ensuring you’re playing for fun.
3. Use A System Of Floating Win Goals And Loss Limits
Set a strict win goal and loss limit at the start of play.
So, you might decide that your win goal equates to half your bankroll; therefore, once you've won half your bankroll figure, close play for the day. Your loss limit could be the whole of your bankroll or half of it. If you lose that amount, walk away and save your play for another day.
Although that strategy does work and can be incredibly beneficial to many players, it can be limiting if you win big on your first spin. For that reason, many players prefer to use a floating win goal and loss limit money management system.
For example, narrow your win goal to 20% of your loss limit, rather than setting a 50% gain. Each time you play, adjust the percentages accordingly.
It’s also worth noting that lots of our slot games offer the ability to include a win and/or loss limit within their settings - like in the Book of Dead slot.
4. Save At Least Half of Every Big Win
If you manage to pick up a couple of jackpots, it’s a good idea to put away half of the win rather than adding it to your bankroll.
That’s especially important if you’re using a floating win goal and loss limit strategy. If you put all your winnings into your bank, you’ll increase the win goal and loss strategy. Now, that’s fine if you carry on winning. But a run of losses could very quickly see your bankroll diminishing, taking all your winnings with it.
5. Divide Your Funds Into Session Bankrolls
Many players like to enjoy more than one gaming session per day or week. But what do you do if you spend your whole bankroll in the first session?
Well, an easy way to avoid that scenario is to split your funds into separate session bankrolls. Decide how many gaming sessions you're going to have within a certain period and split your bankroll accordingly. Stick to your guns and don't be tempted to dip into the other bankrolls if session one goes badly.
6. Take Your Time
Don’t be in too much of a hurry to play. Take time to peruse all the online slot games available to find which ones you prefer. Pause to study the winning paylines and understand the various bonus features. Also make sure to stop for a coffee every so often, or just take a break.
This way you’ll hopefully enjoy your gameplay more, and if you’re playing purely for fun then you’ll get better value from your experience.
7. Control Your Emotions
Everybody can lose. No matter how long you’ve been playing slots for or how new you are to online casinos, you can have losing runs. Learn to expect that, and don’t go into panic mode when you don’t win. Don’t spin with the intention of chasing previous losses. Remember: when the fun stops, stop.
8. Keep Records
Keep track of all your wins and losses each time you play. That will enable you to make better decisions and will keep you in the loop as to how much you can afford to lose.
Keeping detailed records will show you which games suit your style of play best and which tend to pay out more frequently, or pay higher amounts when you win.
Now, we’re not saying that you should make elaborate spreadsheets dedicated to your slots gameplay, but definitely keep a little notebook nearby (or even just a note on your phone) and jot down the wins and/or losses from the session.
9. Check Casino Promotions
Keep an eye out for the latest online casino bonus, as these can help you make the most of your experience by giving you things like deposit match bonuses and free spins, for example.
Some offers are available to new members, but others are tailor-made to reward our existing members and are regularly made available - so keep your eyes peeled.
Remember that bonuses have terms and conditions attached to them, meaning that sometimes you can’t withdraw your winnings until certain conditions have been met. Always read through the promotional terms first.
Effective money management is the best way to keep yourself in the game and fully aware of how your gameplay is going. So, whether you fancy a game of online bingo or want to try and bag yourself one of our jackpots you can do so with more of a plan!
The methods are relatively simple and fuss-free to make it as easy as possible for our players to manage their money and bankroll in an effective way. Plus: when in doubt, give us a shout! We’re a message away at all times and our dedicated customer service team are happy to have a chat with you about gambling responsibly if you need some advice.