Managing your Money at an Online Casino

The most important aspect of playing in a casino is not aiming to win the jackpots or even aiming to make a lot of money.  The main object should be to manage your money so that the casino does not end up taking more money than you wanted to lose.

Every piece of advice you will read about casinos will say that you should not bet what you are unprepared to lose for very good reason.  Even if you have an edge on the casino through some unknown reason, it is still a gamble and there is no outcome that is assured.  If you are aiming to pay your bills with your time at a casino then you should think again because you are more likely to get into more trouble. 

Even those people who boast that they managed to pay their bills or pay off a loan with a casino bet should consider again betting in the same way the next time they turn up at a casino.  When they next have a bill to pay then luck might not turn their way.  So you should only bet the money you expect to lose. 

If you want to spend time playing at a casino, and you would expect to spend £100 on a good night out, then that is how much you should expect to spend at a casino – and certainly no more.  Do not spend the money that you were saving up for your holidays or birthday presents or anything else vital.

When you realise that you have a spending limit – stick to it.  There are many ways that casinos can help you do this.  You can set a maximum deposit limit by speaking to your casino so you are not tempted to place more money than you should.  This all may sound like easy and obvious advice, but it is very easy to forget where you are when you are playing.

For example – imagine you were playing slots – you were £100 up from your deposit of £200 because you had a lucky spin.  You then think this is great – you want to make the most of your luck and decide that you want to make lot more money – who wouldn't?  So you play on a progressive jackpot slot that offers up to £100,000 payouts. 

You play 20 lines at a time, and quickly you lose your winnings and your deposit because the machine has not given a payout.  You get angry, and decide that the machine 'must' payout soon.  You then deposit even more money and keep on playing 20 lines a spin, then 30 lines, and the machine has still not paid out. 

You see red and end up betting over £500 on the machine.  Do not fall into this trap and always set exactly how much you are planning to spend.  If you lose the money then that is all you are going to spend. 

The red mist will disappear eventually and you should make sure that you only bet what you set out to do. It is also a very wise idea to set a time limit and a target limit so that you do not blow your winnings or spend too much time on the machines.