One key to being successful in any form of online gambling is managing your online casino bankroll. Your bankroll is the money that you have set aside to use exclusively at online casinos. In theory, the larger the bankroll, the more you can play. However, some people have trouble with bankroll management and end up spending more than they need to play at Australian online casinos.
Today we are going to give you a few tips to help you manage your online casino bankroll and help you play longer at online casinos. These concepts work the same regardless of which casino games you prefer to play.
Your Online Casino Bankroll is Exclusive to All Other Funds
A concept that some punters have trouble understanding or adhering to is separating your online casino bankroll from your everyday household funds. Any money that you play with at online casinos should be money that is not earmarked for anything else. This means that all of your other expenses are taken care of as necessary and this is extra money you can afford to lose.
Some people will fall into a trap of trying to deposit part of their bill or grocery money in the hopes of running it up at the casino. This is often a losing proposition. Simply, if you cannot afford to play, you shouldn’t play.
Don’t Play Above Your Bankroll
You have to consider your online bankroll when choosing what stakes to play at online casinos. If you are starting out with a meager $20 to $50 bankroll, then you do not want to be playing games where you’re betting $5 a hand or spin. Unless you get extremely lucky, you’ll only be able to play for just a couple of minutes.
Basically, your bankroll should be robust enough to support 100 bets at the stakes you wish to play. For example, if you are playing online pokie games costing 75 cents per spin, you should have about $75 in your bankroll. The reason we say 100 bets is to allow for fluctuation in your play. It also gives you enough money to get in more than one session at a time.
Also, consider the type of game you’re playing. If you are playing a game that lets you play 25 coins at a time as opposed to three or five, the cost of each spin is going to be much higher. Therefore, you have to take that into consideration for your bankroll.
Setting Limits and Stop Losses
You should set limits on your play. Especially, if you are trying to make a bankroll last or you’re trying to limit the amount of money you’re spending at online casinos. To start, you should set a session or daily limit for the maximum that you’re willing to play or lose in a session.
You can address this in one of two ways. The first is by setting a session limit where you decide an amount that you’re willing to wager during the session. You can split it up over several games or put the entire amount on one online pokie. You play until you exhaust that amount or you’re tired of playing.
The other is a stop loss. This is the maximum amount that you’re willing to lose during a day. This is applicable for those that play at online casinos more than once per day. For example, if you have a bankroll of 100 bets, you set a stop loss at 40 bets. If you’re playing .75 per spin online video pokies, once you’ve lost $30 in a day, you quit.
Setting limits will help you keep from going overboard and using up all of your bankroll in a single session. This will prevent you from having to deposit multiple times.
Sign Up for Online Casino Bonuses
One way to help extend your bankroll is by signing up for online casino bonuses. These bonuses give you extra bets that you can use for a time, typically from seven to 30 days. Often, these bonuses will double or even triple your starting bankroll.
These are great ways to test out new games or get some extra play on your favourite games. Best of all, if you are able to clear the bonus, you get to keep the winnings. You can then either cash them out or add them to your existing bankroll.