Online casino bankroll management – Top strategy tips!
Play while staying in control of your bankroll
No one likes to lose; we all play to win, and it’s no sure thing – it’s gambling, and the risk is part of the thrill. Visitors to our casino all join with wishes of striking big, but while you focus on the prize keep it fun and learn how to manage your bankroll.
The key is to find a way of increasing your winning odds as you play for longer without using more funds than you can afford. Easy peasy, right? Of course, there’s no guaranteed win, and players who are not in control of their bankroll are likely to suffer losses as they risk more and more.
Learn how to make the most of your time at Wishmaker without blowing your budget, and you will safeguard yourself even when the odds are stacked against you.
“Bankroll Management”; doesn’t sound like a barrel of laughs, does it? The term conjures up images of a party pooper swiftly stepping in to spoil any plans you have for fun.
In fact, managing your funds and making them last longer is important to ensure you enjoy yourself longer at Wishmaker. The key to successful bankroll management is having some insight into how a casino works and what are the most appropriate stakes for your budget.
So, what is variance? Take European roulette. Here, the odds of you hitting red or black are very close to 50%; with a green slot on the wheel, the chances are precisely 48.6% that you'll hit black, and the same for red.
But because something is 50/50 each individual time, it doesn’t mean that if you bet ten times, then the results will be evenly split between red and black. Known as the Gambler’s Fallacy, many players fail to understand that just because their bet on red has lost a number of times, that does not mean that a win with red is soon due. Results are completely random, and they are therefore not affected by previous results.
You cannot predict the variance, although some games, such as table games, have a lower variance than slots and video poker.
Keeping control of your bankroll involves understanding that wins and losses are unpredictable and taking that into account before placing your bet.
We’ve outlined the essential steps in formulating a strategy that you should take to maintain that control so that even when the chips are down, you don’t lose everything.
Step 1 - Know your budget
Sounds obvious, but before you start playing, analyse your income and outgoings and decide how much you can set aside for enjoying yourself at Wishmaker. That’s the amount of money you’re allowed to play with without jeopardising your security, so you need to stick to it no matter what. And don’t just log on and go for broke; use your money wisely to hedge your bets and minimise risk. Yes, we know the risk is part of the thrill, but there’s nothing thrilling about losing more than you can afford to.
Step 2 – Break it down
So, you’ve got your budget. Now you need to decide how you’re going to break it down. Depending on how often you play, you may want to create a daily, weekly or monthly limit.
At Wishmaker Casino you can set your own limits any way you like, ensuring you play within your budget.
If you like to play every day, it wouldn’t be wise to spend your budget for the month on Monday morning, for example.
Another aspect of managing your money involves familiarising yourself with the payout rates and the house edge of each game. Then you can make an informed choice as to when to splurge and when to play it safe.
Only place bets you can afford, and if you would like to play longer for less, remember that low-to-medium variance games are a better option than high variance games.
Step 3 - Bank your wins
If you have a big win, take a pause and think before you decide to play again with your winnings. It’s a good idea to set yourself a percentage that you will always set aside, no matter how much or how little you win. Seasoned players know that Lady Luck is a fickle figure, and even when she is on your side, it’s good to prepare for her departure.
Step 4 – Promotions
At Wishmaker, if you want to play for longer without having to dig deeper into your pockets, check out the bonuses on offer and claim the ones that best suit you. Not only will you get more for less, but you will also be able to extend your play without overspending or breaking your budget.
Decrease your Losses with Bankroll Management
The best bankroll management strategy when playing on a budget is to play with lower stakes. Not only will this help you manage and survive your losses, but it will keep your bankroll stable and allow you to remain in the game. This might mean your winnings aren't as awesome as with high bets, but at least you'll stay in the green. If you are determined to make a few high stakes bets, keep control by making sure you don’t go beyond your means.
And if you do find yourself in the unfortunate position of having lost your entire budget, the sensible thing to do is to stop playing immediately – becoming hell-bent on winning back your losses is risking even greater loss.
Know your limits
One of the best ways to stay in control is to remember that Wishmaker offers all of its players easy ways to set limits for game play, deposits and losses. Know your limits and stay within them. Keep your Wishmaker experience fun and entertaining by playing responsibly and without risking your peace of mind.