30.09.2021
The following five tips will help you prevent losing your gaming budget:
Assuming you sit down to catch some fun by playing on an online casino. You deposit your money and perhaps claim a bonus, and then begin to play your favorite game. Unfortunately, you record nothing but just loss after loss, and before you know it, your account has become empty!
It is a known fact that Lady Luck can sometimes be very wicked. The good news is that there are certain steps you can take to ensure your next session does not end in disappointment. Below are our top five tips for keeping your gaming budget intact.
1. Split up your bankroll over time
We take issues of budgets very seriously at CanadaCasinoNews. When you have a limit and stick to it, losing a game will not be the end of the road for you.
Many people have a monthly limit. However, if you have a very bad start, your gaming budget may vanish faster than you had expected.
You can avoid the aforementioned ugly experience by using “mini budgets”-. Besides your total spending limit, you should limit yourself regarding how much gaming deposit you can make in a day.
For instance, if your monthly gaming budget is C$250, you should not stake more than C$50 in one day. By so doing, you can at least enjoy yourself all through the month even if your luck nosedives!
2. Withdraw your deposit ASAP
Many people find it extremely difficult to hit the “cash out” button when they make profits!
It is important to note that withdrawing from time to time can help safeguard for gaming budget.
We highly recommend cashing out your deposit amount once you have hit a low win target: my recommended amount is 3x the amount you deposited for the game. The worst thing that can happen is for you to break even, and you will surely record no loss!
3. When your bankroll is low, your bet should be low
Occasionally, there can be dry spells where you spin and spin, but nothing positive comes out of it. This can make you frustrated. The temptation to increase your bet to recoup your lost money might even set in.
Most of the time, upping your bet doesn’t work.
My advice to you is to take it slow. Let your eyes be on your bankroll. Whenever you see it go down, respond to this by turning your betting. This way, you still stand a chance of winning the game, and you will be able to have numerous plays out of your money.
4. Know what your variance is
There exists a big difference between betting C$5 a spin on a slot machine and C$5 a hand on blackjack. This difference is referred to as variance.
A game characterized by low variance is sure to be up-and-down, that is, winning or losing such a game depends on the kind of streak you get: hot or cold.
Examples of low-variance games are blackjack, baccarat, the outside bets on roulette, and pai gow poker.
On the other hand. high-variance games are games of luck. Most of the time, you lose in this game, but all you need is just one lucky round to win big. High-variance games include keno, slots, scratch cards, video poker.
It has been established that if the variance of a game is high, your bet should be low. If you don’t know how volatile a game is, it is advisable for you to play it on fun mode first to know how fast your money can go down the drain.
5. Keep your cool
Keeping a level head is key in the gambling world, especially you are on a terrible losing streak.
When you keep the losses you have recorded in mind, you will not be in the right frame of mind to record gains. It is important to note that when you over-bet your bankroll, you are sending an invite to frustration, and you won’t be a winner if you are the type that always wants to go for “one more spin”.
It is important for you to keep your emotions under control. You should get up and take a break, grab a snack, and look at the time. If you are no longer catching fun, it is time to stop playing!
What works for you?
If you abide by the aforementioned five tips, you will always succeed in keeping your bankroll intact. We are always in search of other ways to assist players to have a WOW experience whenever they play online casinos! In case you have any other tips that you would like to share with us, please, do not hesitate to contact us at info@canadacasinonews.com.
