Gambling is fun, whether you love the atmosphere of land-based casinos, or prefer the variety and convenience offered by their online counterparts.
Slot machines have always been a casino stalwart, and are among the most popular and playable games. But it’s important to remember to keep it fun, and that means managing your bankroll effectively and responsibly. There are many ways to maximise how you spend your money, by choosing the right machine for your budget and setting your spend limits. Sure, losing is part of the gambling experience, but one of the most crucial skills a player can possess is knowing when to play and when to walk away. Here we will focus on how to manage your bankroll when playing online slots.
In gambling, bankroll refers to the amount of money a punter has to spend. Think of it as a stack of chips sitting in front of a poker player – the way they use their chips is essentially bankroll management. You may like to take bigger risks for bigger prizes, or you may be content to play for a longer period of time but for smaller odds (all relative to your overall spend of course). In a nutshell, effective bankrolling will extend your playing time and maximise your chances of winning. When it comes to slots, it makes sense to calculate the price per roll and what percentage of your total bankroll each roll takes. You should also work out how much of your total bankroll you wish to play with per session. Say you have a bankroll of $1000 dollars, you may choose to spend 5% or 10% ($50 or $100) per session. So how much should you spin for on each game you play? A good benchmark to aim for is 100 spins on each game – if you’re unlucky you may see your money slip away, but 100 rolls, in general, should mean you get some success, hopefully with some bonus rounds or substantial prizes. Of course, there are many variables at work, namely the cost of each spin and the size of the payouts.
Slots are what is known as a negative expectations game. What that means is, if you continue to play slots indefinitely, you will eventually lose all your money, no matter how good your bankroll management is. Therefore, you should readjust your goals, and aim to play for fun, with an added bonus if you do happen to strike it lucky. You should always play with money that you have set aside for entertainment, much like you would purchase a ticket for a movie or a concert. Focus on having fun, and if you win, great!
Practice Makes Perfect
Many players of online slots have never set foot in a casino before. Whilst slot machines are simple in terms of interface and basic settings, they pose a bigger risk for the uninitiated. Luckily, there are many online casinos that offer free slots, giving the budding punter an opportunity to familiarise themselves with the latest slot games and features without investing any of their money. Graduating to playing real slots is an important decision, so free games are great for testing the water, to see if you enjoy the experience and if you want to take it to the next level.
This is the important bit. As mentioned before, it is best to gamble on slots with money that you have set aside for that purpose. Gambling is fun, but we should all be aware of the risks if it gets out of hand (and stops being fun). Stop-loss is a term for when you make yourself walk away after a certain amount of losses in a game, although this takes a lot of self-discipline. The other side of the coin is when you’re winning. A hot streak may encourage you to pour your winnings straight back into the machines, which may lead to losing everything. How you play is up to you, but it is important to be strict and realistic with your budgeting. It will enhance your enjoyment of the games in the long run.
Prizes and Bonuses
Part of bankroll management with online casinos is taking into account what kind of prizes and bonuses are available on the slots you’re playing. You should take the payout potential into account when budgeting and setting up your percentages at the start of each setting. With so much competition in the field of online casinos, you should definitely find good, competitive bonuses wherever you play.
When gambling on slot machines it is vital to work out how much you have, and how much you’re willing to spend before you start playing. With these parameters, you can increase your chances of winning, but more importantly, your enjoyment of the game.