Today, we will take a look at five ways you can protect your bankroll while playing at online casinos. These tips will help you play longer online while helping you improve your odds of winning.
Avoid High-Risk Side Bets and Double Up Bets
Nearly all online casino games have some form of a side bet or double up bet. For example, in games such as Tri-Card Poker, you can make a side bet on Pair Plus. This bet has a house edge of 7.26 percent. There are some online pokies with better odds.
Most side bets have insane house edges with some exceeding 20 percent. Side bets are long term losing bets and ones you should avoid. The same is true of double or nothing bets for games like video poker.
Double Up bets on video poker games where you pick a card and hope that it beats the dealer card. It is a true 50/50 bet, meaning that over the long-term you will win as much as you lose. The catch is you have to bet all of your winnings.
For example, you bet $1.25 on video poker and hit a straight worth $7.50, you will have to wager the entire $7.50. Yes, you can double to $15, but you can also walk away with 0. Lock in your wins and avoid the double up bet.
Play Lower Stakes
If you’re used to playing pokies at live casinos, you’re used to paying around .25 per credit. For table games, you’ve likely played at tables with a $5 minimum. The great thing about playing at online casinos is that you can play for much smaller stakes, allowing you to play on a single deposit.
For example, many online pokies will allow you to play for as little as .01 per credit. For a 25-line online pokie game, you will wager .25 per spin rather than $6.25 per spin. Online table games generally have a table limit of $1 per bet as opposed to $5 per bet. If your goal is to stretch your online casino deposit to the max, then drop down in stakes.
Set a Stop Loss for Your Bankroll
Every online casino gambler will go on a losing streak. It is a fact of playing at real money online casinos. One mistake many players make is trying to play through a losing streak. After all, your luck has got to turn around eventually, right?
Unfortunately, this mindset results in players blowing through their entire bankroll and even subsequent deposits. One way to protect yourself from busting your bankroll is by setting a stop loss. When you set a stop loss, you set an arbitrary amount that you’re willing to lose in a session.
The amount of your stop loss should be no more than 25 percent of your total bankroll. For example, if you have $1,000 in your account, your stop loss will be no more than $250 for a day. If you lose $250, you quit playing for the day.
It’s not fun to walk away from the casino a loser, but it’s worse to walk away broke. Using a stop loss will ensure you can come back and play another day.
The best online pokies in Australia offer RTP of greater than 96 percent. If you’re lucky enough to find a game like Dracula’s Gems with an RTP of 97 percent or higher, stick with those games as they will generate greater wins long-term.
Verify Your Online Casino Account
One of the best tips we can give you when playing at online casinos in Australia is to verify your account early. In order to cash out from the casino, you must verify your account. Yes, even if you plan to cash out using bitcoin.
The verification process ensures that you’re not trying to defraud the casino. It is a simple process that requires you to send in some documents confirming your identity and your location. Once the casino has these documents, you will be able to cash out.