When gambling, whether online or offline, there is little you can do to control the results of the game itself. There are good and bad days when playing any casino game, and you never know which one you have until the end of the day. The only thing you can control when gambling is the amount of money you bring, risk, and manage.
Money management is essential in any endeavor; you have to control your spending in gambling just as you would with business and daily life. The goal is to risk only as much as you can afford to lose and try to do so in situations where risk is minimal.
Protecting Your Capital
Let’s call the amount you put into your online casino account as ‘capital.’ This allows your mind to get used to the fact that you are not meant to lose it, but at the same time allowing yourself to risk it at opportune moments to possibly gain returns. The best way to protect your capital is by setting up a budget and planning your day.
Budgeting and Planning
Unless you have a specific game you are fond of and can play the entire day, it is essential to put a specific budget for each game.
Having a budget for each game allows you to plan an enjoyable itinerary, moving on to the next game once you reach a level of winnings, or when you’ve zeroed out the budget for that game. After all, the point of playing online casino is to enjoy yourself, what better way to enjoy it then to be able to play as much as possible with the money you’ve set aside for it.
Bring What You Can Afford to Lose, Not What You Are Willing To Lose
The problem with most “Money Management” techniques is that they start off saying to bring what you are willing to lose. This creates a mentality and a subconscious thought of “it’s okay to lose.” I don’t know about you, but I do not enjoy losing money, I enjoy winning it. But given that you are gambling your money, it is best to bring what you can afford to lose, the money you can lose without sacrificing anything in your house budget, savings, and emergency cash.
Do Not Touch “X”% of Your Winnings
Setting aside money every time you win is essential to reduce the chances of you ending your day broke, and increases the chances of you coming out a winner. It is best to decide on the percentage of the money to what you are comfortable with, but I recommend to least have it at 10%.
You do not play with this money, even if you’ve already lost your allocated budget and the rest of the winnings, you move on to the next game or end your online casino session for the day.
Keep a Clear Head
Decision making needs a leveled clear head. You cannot let emotions or any outside forces affect it, this means:
- No Drinking
- No Gambling When Angry
- No Increasing to cover last bets losses
If you follow this guide or base your strategies on this, you will be able to enjoy your online casino session more, and if you feel that gambling starts to become a problem – seek help.