Bankroll Management While Playing at Online Casinos is of The Utmost ImportancePublished on September 24th, 2016 5:40 pm EST
Successfully managing your bankroll is a major key to success if you want to thrive in the world of online casinos.
There are a number of things that amateur players will do to quickly separate themselves from their bankrolls - in order to maximize the size of your bankroll, you must avoid these mistakes, or else you will quickly find yourself reaching for your credit card to make another deposit.
Here is a list of things that are recommended in order to preserve and even grow your bankroll when you are playing at an online casino:
1) Take advantage of promotions. Are you taking advantage of all initial deposit/VIP/loyalty bonus offers? The online casino industry is incredibly competitive, so online casinos will frequently offer bonuses in order to keep people at their company. In order to grow your bankroll as aggressively as possible, you need to take advantage of these offers when they turn up. Also, it is worth emailing the company to see if there are any offers that you may be entitled to that you aren't aware of.
2) Have a maximum loss limit set every time that you "sit down" at the casino. Many people will chase losses when they play at an online casino, and this is the quickest way to bust your account.
Let's say that you have a bankroll of $1,000. It is recommended to set a "maximum pain point" every time that you log into your account. For instance, with a bankroll of $1,000, you may decide to end your session if you lose $100. If this happens, it is adviseable to close your account and walk away for the time being.
3) Ride your hot streaks. When you are winning, keep playing. It's as simple as that.
4) Sign up at different online casinos. You need to take advantage of the hefty initial deposit bonuses that all of these companies are offering. Remember - the online casino industry is extremely competitive, and you need to take advantage of this fact in order to maximize your profits.
5) Withdraw profits at a regular interval. If you deposit $1,000 and run up your total to $2,500, for instance, I would recommend withdrawing at least a portion of this money in order to protect your profits. For instance, in this case, I might withdraw $1,500 (provided that I have satisfied the terms of the bonus, of course) will leaving my original $1,000 deposit at the site.
These five things can greatly prolong your time at an online casino without having to make an additional deposit.