Picture this: you sit down to have some fun at an online casino. You make your deposit, maybe claim a bonus, and start playing your favourite game. And then… nothing. Just loss after loss. Before you can even grab that first beer, you’re out of cash.
Sound familiar? We understand – Lady Luck can be cruel sometimes. But there are things you can do to stop your next session from ending in disappointment. Here’s our top 5 tips for keeping your bankroll alive.
1) Split your bankroll up over time
We’re big on budgets here at AskGamblers. When you stick to a limit, you can take losses in stride with no problem.
The only issue: what if you spend your budget faster than you wanted to? A lot of people use a monthly limit. But if things get off to a rocky start, you might blow through that budget way faster than you anticipated.
The best way to avoid this is to use “mini-budgets”. In addition to your overall spending limit, consider limiting yourself on how much you can deposit in a day. For example, maybe a $250 monthly budget, but no more than $50 in a single day.
This way, even if your luck takes a nosedive, you’ll at least get to enjoy yourself throughout the month!
2) Withdraw your deposit ASAP
The only thing harder than winning? Hitting the “cash out” button!
But withdrawing more often can have a big impact on how long you can make your bankroll last.
In fact, we recommend that you cash out your deposit amount as soon as you hit a low win target – 3x your deposit my personal choice. Worst case scenario, you’ll break even. And that sure beats losing!
3) Lower bankroll, lower bet
Dry spells happen. Hand after hand, spin after spin with absolutely nothing to show for it. It’s easy to get frustrated. You might even be tempted to up your bet to try and get back to where you started.
But it hardly ever works.
It’s far more fun and much less stressful to take it slow. Keep an eye on your bankroll. When you see it go down, turn your betting down as well. You can still win this way, and you’ll get more play out of your money.
4) Know your variance
There’s a big difference between betting $5 a hand on blackjack and $5 a spin on a slot machine.
That difference is called variance.
A game with low variance will be up-and-down. Winning (or losing) depends on getting a hot streak (or a cold one). Examples would be blackjack, the outside bets on roulette, pai gow poker, and baccarat.
High variance games, on the other hand, are all about bursts of luck. You’ll lose most of the time, but all you need is one lucky round to come out on top. These games include slots, video poker, keno, and scratch cards.
So, as a rule of thumb: the higher the variance, the lower your bet should be. If you’re not sure how volatile a game is, play it for a few minutes on fun mode to get a good idea of how fast you can lose.
5) Keep your cool
We’ve said it time and time again: There is nothing more important in the world of gambling than keeping a level head.
And that’s especially true when you’re in a huge losing streak.
Nothing good ever comes out of chasing losses. Overbetting your bankroll is a shortcut to frustration. And you’ll never be a winner if you always insist on “one more spin”.
So keep your emotions in check. Take breaks to get up, grab a snack, and check the time. And if you notice that you’re not having fun anymore, stop playing!
What works for you?
You can’t go wrong with these five tips to keep your bankroll afloat. But we’re always looking for other ways to help players have more fun with their online casino experience! So, if you’ve got any other tips you’d like to share, just head over to the AskGamblers forum and let us know.