No matter if you are a regular casino player or just enjoy the occasional visit every once in a while, the time you spend playing, whether it is at an online casino or land based is important to you: it’s the time you’re using to have fun, unwind and over all have a good, relaxing time…and why not, make some money out of it.
Managing casino bankrolls may be hard and confusing, first of all because everything happens fast when we’re having fun, and second of all, because it is not fun to be responsible with money when we just want to have a good time. Regardless of all that, there are ways to sneak in some responsible behavior while you play casino games, which in return, will allow you to have more fun, spend more time playing your favorite casino games, and even make a profit and decrease your chance of losing too much money. Let’s take a look:
Don’t believe your “close to win”
There is a little something we have called “the near miss effect”. Basically is the idea we get into our head when we “almost won” a few times, thinking we’re bound to win very soon because we’ve lost so many times.
This will be hard to say, but there is no prove in the world that will tell you that because you’ve lost too many times in a row, you will win soon. Luck is luck, and there is no way to understand how it works. If you’ve been losing over and over, your bankroll is just decreasing, accept the reality of the matter and play just for the fun of it. If you win before you lose all your money, take some time to think: do you want to go home even or can you afford more playing time?
Don’t play crazy numbers
I’ve seen it happen several times: you start playing small quarters but you have a winning streak so you double, even triple your bets and after a few minutes you’re broke and sad. We can get really excited if we’re winning steadily for a little bit, enjoy those winnings and keep playing, these little winnings mean you can play for longer and have more fun, don’t lose your entire bankroll on a quick illusion faster than how long it took you to drive to the casino or turn on your computer.
Choose the amount you want to be and keep it through your entire game time. If you lose you won’t be losing crazy amounts of money that you may not be as comfortable losing and if you win, you’ll be as happy as you were when your first started. Greed is always the worst enemy.
Hide your winnings
I like to call this one the “cheap old lady” strategy. This strategy is completely inspired in my great grandmother who, every time she sat down to play poker with my aunts and uncles brought a little coin purse to the table that she hid somewhere in her lap the entire time.
Every chip she won, she used to hide in the purse, and just kept playing the chips she had started with. At the end she would stop playing when those chips were gone, but cashed out all the chips she kept in her little coin purse. It could be more or less what she had begun with, there was never a big win, but trust me, that women didn’t lose much either. Believe me mates, that trick was some serious old days-bankroll management right there.
Always choose your games wisely
We all know that casinos offer you strategy games and games that are entirely based on luck.
Clearly the best casino games to choose are the ones where you have some control, such as blackjack, poker and baccarat. You need to practice and play with a strategy.
Don’t think luck is not an important matter, you can always choose games where luck prevails of course, but you won’t be able to have as much control. Anyhow think about what you want: win some money or just have a good time?
Always use bonus codes!
Every casino in the world, whether online or land based will give you free money along with your deposit. Use it!
At Palace of Chance we have plenty of promotions daily, weekly and monthly that you can use to increase your bankroll immediately after you deposit. Take advantage of the bonus codes, but we careful and make sure you read and understand the terms and conditions included on each casino bonus code offered to you: cash out limits, playthrough requirements, allowed games, check carefully and you will have more fun while spending a lot less money.
Managing your bankroll doesn’t necessarily mean that you can’t have as much fun as you wish, it just mean that playing responsibly will actually give you more time to play and, in the long run maximize your loses. Playing casino games is a wonderful activity and millions of people enjoy it on daily basis, the key is to know what you’re doing, when you’re doing it and how you’re doing. As always you can rely on the free plays available at the Palace of Chance, both on our webplay option or through our casino software. These are great options to practice strategies, put these bankroll managing method to the test and overall understand how playing responsibly works before using your hard earned money to play for real.
Last but not least, you can find several other ideas and tricks to manage your bankroll wisely right at the Palace of Chance blog. We are always researching, testing and finding different ways to help our loyal players make the most of the time they spend playing with us. Trust us; every trick we ever share with you has been carefully tested for quality and efficiency.