Many casino players adopt a certain money management strategy. This corresponds to the distinctive nature of casino games, and slots are no exception. To be precise, adequate bankroll management is more than needed when it comes to slots, due to the games’ dynamics.
It is recommended to stick to a certain bankroll management technique during your gaming sessions. While there is no way to predict the odds of the game, proper money management can sure keep you accountable while playing.
Determine your bankroll
Managing a bankroll is a complex process as it comprises several key aspects that players need to consider. First, determine the amount of money you intend to spend. Decide which amount of money you are comfortable to set aside and stick to the plan. Another idea is to set a separate credit card to keep your wagering account in balance. This will keep you away from extended gaming sessions by using funds you didn’t intend to spend.
Divide the funds and plan multiple sessions
Once you have decided on the spend, consider breaking down your overall budget to smaller amounts reserved for each gaming session. For example, if you are willing to spend £500 and you have planned five separate sessions, you will have £100 for each session. This approach is quite simple but effective in order to set your wagering limits.
Choose smart when it comes to coin values
When it comes to slots games, it is recommended to determine which coin value is more suitable to your budget. Also, apart from the coin value, players need to decide how many coins to place per active payline. This is determined based on how much money they have available for each gaming session.
Some players think that they are more likely to win if they increase the wager. Generally speaking, a larger wager doesn’t increase the payback percentage, but if you’re playing with a larger wager, the potential winnings are larger, i.e. if the maximum possible win is £100 when you’re wagering £1 per spin, the maximum potential amount will grow to £1,000. However, if you opt for playing real money slots with progressive jackpots you might need to play with a larger wager if you want to be playing for the maximum jackpot – the progressive one.
Set win and loss limits
Learning to accept small wins is another essential aspect of bankroll management. Experienced slot players always set a win limit in advance. This helps them to end the session without placing their winning amount. Experts recommend setting a betting limit that amounts to 60% of your starting bankroll for the betting session. For example, if you start your session with a bankroll of £100 and your win goal is 60%, you can continue wagering until you have generated £60 in profit.
Increasing bets after a win
Some slot players tend to increase their bet after a lost round. However, some players adopt the opposite approach. They consider wagering smaller amounts after unsuccessful turns. There is another approach to this game which dictates that players should start with the minimum bet allowed on their preferred slot. They will continue placing lower bets until they land a winning combination in which case, they are required to bet the maximum amount.
Play at slow pace
Slot games are one of the most entertaining types of casino games. It is indeed played at an extremely rapid pace, as the outcome of each spin is determined within seconds. Because of the nature of this game, it is always a good idea to slow down the pace. Try playing one coin per round. Another way to have your game under control is by simply taking breaks every couple of spins. Enjoy a snack or a cup of coffee – this way you will extend your gaming session without worrying about placing large bets.
In a nutshell, bankroll management is related to the money which you have set aside for online gaming. There are different strategies for managing your account. Every player has different budget limits and goals. Therefore, it is quite difficult to outline one method valid for all. To determine the best way to manage your gaming budget, consider your personal style and game intensity.