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Gambling is no longer only a way just to make money – it’s a thrilling leisure pursuit and an excuse to have fun with friends. Best of all, you don’t have to spend a whole load of money to do it. You can gamble responsibly both in a land-based casino and online with all the usual enjoyment. The trick is to know to manage your payroll.

Here are five tips on managing your money responsibly so that you get the best out of your gambling experience. 

Set a budget

When playing online slots, it’s best to approach gambling as a form of entertainment rather than a way to make money. Even so, the first thing you should do is have a clear idea of how much you can afford. This is one of the most simple yet essential pieces of advice you’ll ever get – and it’s one of these expert money management tips for slot players

You can either set yourself a daily budget or a weekly one – just remember the odds never change. You stand as much chance of winning on the next spin as on the one you’ve just played.

With this casual attitude towards gambling in mind, you may wish to opt for a quirky slot game. They’re enjoyable and you won’t feel too hard done by if you lose a little money on them. If you do think you’re going to yield to temptation and spend more than you initially planned, you can set an exclusion limit on a game, or contact the slot operator and arrange exclusion for the games and from the casino itself.

Play newer games with caution

Often, new games will try to attract players with bonuses or free spins — and it’s perfectly fine to play them if you’re an experienced online slot player — but when you’re not familiar with a game, it’s easier to lose. You’ll be more focused on winning than having fun while. By the time you understand how the game actually works and how to play and win, your gaming funds may well have plummeted.

Play a game you enjoy playing and know well to stand a better chance of winning, which will make the experience all the more enjoyable. If you’re new to online slots, you may prefer to play more conservative games. Double Triple chance is one example, and despite the complicated sounding name, this particular game has straightforward rules and is closer to the classic slot machine in style. Features only 3 reels, as opposed to the more complex 5 reelers, Double Triple Chance suits less experienced gamblers perfectly. It’s also easier to monitor and manage your spend on a 3-reeler, making the allure of the game that more appealing.

Avoid drinking and gambling at the same time

When you’re playing in a bricks-and-mortar casino, you can often take advantage of the free drinks — and why shouldn’t you? You’re there to enjoy yourself, after all. When you’re sitting at home and playing, however, you’re not necessarily socialising or surrounded by peers, among whom you may feel more inclined to keep gambling.

You should always play sober to ensure responsible gambling. Regardless of whether the game is complex or straightforward, you’ll have a cooler, clearer head and can make more rational decisions around how you manage your money while playing. If you have alcohol in your system, you could go over your budget and wake up a little less off – as well as hungover – the next day.

Put your winnings to one side

As soon as you win something, put it to one side. This allows you to track how much you’ve won compared to how much you’ve actually gambled and make appropriate decisions. Perhaps you’ll want to gamble with these earnings the second you win them, but this is a sign that you need to manage your emotions a little better while playing. In an ideal world, it would be great to play on, but you need to remain calm and collected to play the slots responsibly, too. There’s nothing wrong with having fun, but you must also know when it’s OK to quit and when to continue. Save that money so you can enjoy it later.

If your emotions start to get the better of you during all the excitement, remind yourself to slow down a little. This will give you time to assess your earnings to spend ratio. You’ll enjoy playing online slots much more if you’re in control of yourself. 

Play only once

If you’re on a strict budget and think you might start to feel temptation tugging at your wallet or purse strings, you could counter this by applying the ‘once through’ method. You must be strict with yourself, but this doesn’t detract from your enjoyment and is an excellent way to exercise control over your budget.

The method simply involves deciding how much you’re going to spend and put it onto the slot one time only before getting on with the game. This approach prevents you from gambling again and again with your winnings. You can opt to spin again if you wish to, but the purpose of the method is for you to walk away with the extra earnings in your pocket and, generally, leave the casino or turn off the screen of your online game with an overwhelming sense of satisfaction, having stayed in control and gambled in a responsible fashion. 

Summary

Remember that the best way to enjoy online gambling is to gamble sensibly. Other than what we have already discussed throughout this article, potential measures you could take are checks of your gambling history in your casino account and of your credit card and bank statements to see how much you’re spending. Paying with your debit card will give you a truer sense of this, as you can see the direct financial impact gambling has on your income.

Most importantly of all though, you should treat online gambling as a leisure activity rather than a means of making money. This is a healthy attitude towards the pursuit that can help you to keep your spending in check so you’re not always chasing losses or feeling downhearted about any losses you do incur, as well as ensure you don’t fall out of love with something you’re doing.

 


5 ways to manage your money when gambling online
Digital Mag

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