While you might dream of having an endless casino bankroll, the reality is that many offline and online casino players have a limited monthly income, which affects how much money you have to play with at the casino. But wouldn’t it be great if you could make your casino money go a little bit further? Here’s how you can.
Create a budget
The first question you need to ask yourself when setting a budget is: how much can you afford to spend at the casino? When answering, you should take other aspects of your life, like paying your rent, covering your travel costs, or buying groceries, into consideration and ensure that these wouldn’t be affected by your gaming spend.
It’s also important to remember that even the best gamblers lose – and can lose a lot. So you need to be financially prepared to deal with these losses, even if your luck might turn around in the long run.
Choose games that suit your budget
If your monthly budget is $500 but you play poker online with $500 buy-in, it might be time to switch to some new casino games if you want to play more than one round. While it may be exciting to bet everything on a single game, it does mean if you lose, you’re done (at least until your next paycheck comes in).
On the other hand, playing lower buy-in games, or even games that give you more control over how much you bet, like online slots, may be a better idea if you want to make your bankroll go further.
It might also help to research the RTP (return to player) of a game before you become overly invested in it. A higher RTP means that the player has better odds of earning a certain percentage of their spending back from the casino in the long run. For example, some slots can have an RTP of as high as 99%, while others can have an RTP of as little as 92%.
It also helps to find out the house edge of games. Some, like Blackjack, have a very low house edge, while others, like Keno, have a higher house edge, meaning you’re more likely to lose than win.
Divide your budget according to what you enjoy
If you’re someone who enjoys a variety of games, it’s important to split your budget accordingly. Even if you prefer one or two games over the rest, it’s a great idea to provide for a bit of variety in your gameplay. This will help you avoid situations where you might be tempted to step outside the limits of your budget. For example, rather than spending your entire budget on poker, you could set aside some money for a few slots games to allow you to have some extra fun before calling it quits.
Track your spending
Are you on a roll or a losing streak? How much money did you deposit this month? Trying to keep track of your spending in your head is difficult. Rather keep track of incoming and outgoing money with pen and paper, a spreadsheet, or an app. This is especially important if you want to make the most of the money you’ve put aside for the casino.
Slow down when playing games
This mostly applies to players who go on a losing streak and find themselves tilting. Tilting is a poker term that refers to the frustration or confusion that can come about when a player is doing badly. While you might think this would make you cut your losses and cash out, it can cause some players to hold on – even when their play is getting worse.
If you’re playing casino games and you find yourself getting emotionally unsettled by a losing streak, it’s important that you slow down or take a break. If you’re susceptible to tilt, set limits on your spending with the casino and avoid drinking alcohol when playing, as this can lower your inhibitions.
Set a limit for your daily or weekly spending
Having a total budget is important, but you may also find it necessary to set a daily or weekly limit on your spending. This will not only help you make your money go further, but it can also ensure you avoid tilting. Many online casinos have features that help players manage their spending, so be sure to take a look at what options are available so you can stretch your bankroll as far as possible.
Bank your winnings, or withdraw your deposit
When you win enough to start withdrawing your takings, withdraw either all or some of them from your wallet. This will leave you with the initial deposit you made and help you to avoid spending your winnings.
Once you’ve met the requirements to qualify for a withdrawal of your deposit, it might also be a good idea to take it out of your wallet. This means that you’ll be playing with your winnings, not the initial money you put down. You can repeat this process with each subsequent deposit to ensure you never go into the red.
Take advantage of promotions and bonuses
Most casinos offer new and regular players a variety of rewards for signing up and playing. Here are some of the bonuses you could take advantage of as a player:
- Deposit bonus – When you make a deposit, the casino will offer a percentage of your deposit in addition to the amount you’ve added to your account. Most casinos offer a 100% deposit bonus, which would double your money.
- No deposit bonus – These are bonuses that casinos may give out from time to time to reward people for playing, or to encourage people to play more. It may be a few dollars credit, or even the option to try a game for free.
- Cashback bonus – Depending on the casino, you may be able to take advantage of a cashback bonus after a losing streak. Many casino operators understand that losing streaks can be demotivating, so they offer players a percentage of their losses back.
It’s important to remember that many of these bonuses come with specific terms and conditions. For example, you may only be able to withdraw money you’ve earned from a deposit bonus after you’ve won a certain amount. Or, you might only be able to withdraw your bonus winnings after a certain amount of time. Always be sure to read the fine print before you spend these bonuses.
Enjoy a wide range of casino games that suit your wallet at BetMGM
No matter the size of your budget, it’s important to play online casino games that suit your needs. This is why you should sign-up at BetMGM.Our online casino offers players dozens of fun and exciting games. Whether you enjoy online poker, are interested in playing roulette live at a casino online, or like the thrill of the spins with online slots, you’ll find casino odds that suit your budget and your taste. We also have new casino games, so you can enjoy the latest exciting offers.