The reason why many people fail in their casino adventure is not that they get fed up by playing the same games again and again but because they fail to properly manage their bankroll in such a way that they leave some money for future betting purposes. Your bankroll may come in many forms i.e. cash, plastic money on credit/debit cards or even cryptocurrency. No matter its form, you should be able to properly manage it over the long run. Though cash is good to carry for those playing in land-based casinos, it’s advisable to use plastic money as plastic money tends to limit your spending power. There are many online casinos that accept PayPal including other electronic and digital wallets for you to pay with at casinos.
The following are some tips that will help you to avoid losing your bankroll.
Gamble with what you can afford to lose
You may probably have heard about this but it’s important that you rethink this once again. Gambling is a risk hobby or business depending on how you take it. As such, you do not have to bank on a gamble as you have the same probability of losing as you have of winning. Putting this into practice, if you have $500 to spare after paying the utilities, you do not have to visit the casino with the whole $500. Rather take only $300 and save the $200 for other emergencies as you can lose at the casino.
Divide your bankroll
Once you have set aside your bankroll for let’s say the next month, the next step is to divide that bankroll before going to the casino. In practical terms, this means you have to divide your gambling sessions into days or weeks. If the bankroll for the month is $300, that means the bankroll for a week becomes $75 and for a day it becomes $15 for those playing 5 days a week and $10 for those playing 7 days a week. When leaving the house, or when you log into the online casino, always wager with your set amount for the day.
Do not mix your winnings with the deposit amount
You may find yourself on a winning run when you visit the casino, during this time, the urge is to continue playing. This is normal and you should continue doing so till the winning streak ends but what you have to keep in mind is that once you win the equivalent of your initial deposit, take that deposit amount away from the winnings and play with your winnings. If your continue winning to the equivalent of your deposit, take the ‘deposit’ and put it on the side. Continue doing this as long as the winning streak continues but stop once you run out of the winnings money.
Increase the stake when winning
The beauty of a casino is that it rewards all of us at one point or the other. If it’s your turn to win, make sure that you increase your stake each time you place a bet in order for you to increase your potential winnings. This strategy is also called the progressive betting method. However, once you lose, your next stake should have the value of the first stake you wagered before you subsequently increased the stake.