Our tips for responsible online casino gaming
While most casino players deposit, play, win/lose, and repeat, others focus on proper bankroll management. If you’re unfamiliar with this concept, don’t worry. Madness Bonus is here to explain what it means and how you can apply it to your online casino sessions.
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What is bankroll management?
First, you should know that your bankroll is the amount of money you allocate for casino play. This amount varies from player to player. To make the most of it and avoid depleting it too quickly, you can apply bankroll management techniques. This term comes from poker and refers to your ability to manage your money wisely.
The main rule of bankroll management is to play according to the size of your bankroll to minimize variance. We will explore this concept further.
Does bankroll management apply to online casinos?
Of course! You already know that casino games are based on chance and are 100% random. However, this does not mean you cannot apply bankroll management techniques.
Attention: The tips we share today are not guaranteed winning strategies, but rather methods to play smartly and avoid depleting your bankroll too quickly.
Do you need a large bankroll to play at a casino?
There is no perfect bankroll size. While a larger bankroll allows for higher bets, you can still have fun with wagers as low as $CAD 0.30. It is up to you to set the budget you are willing to spend on the casino. Whether it is a weekly or monthly budget, do your best to never exceed this amount. This is the first step toward effective casino budget management.
We will now share 5 tips to help you manage your bankroll effectively.
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Only gamble with money you can afford to lose
This is the first and most important piece of advice we can give you: do not gamble at an online casino or any other game of chance if you cannot afford it.
A casino should never be seen as a secure way to make money. It should be nothing more than a hobby, like going to a restaurant or a movie. Winning is always fun, but remember, there is no guaranteed way to win every time.
If you don’t have much money to gamble, you can either choose not to deposit and check out no-deposit bonuses first or make small deposits to have fun while keeping your spending in check.
Don’t chase your losses
This second tip is just as important, even if it can sometimes be hard to follow. When one of your casino sessions ends in a loss, don’t immediately redeposit. Trying to recover your losses will only lead to losing even more.
Why? Because most of the time, when you chase losses, you take bigger risks and play more aggressively. You place higher bets or even feel tempted to go all-in at blackjack tables. While this strategy might occasionally work (very rarely), most of the time, you’ll just lose your second deposit even faster than the first.
We emphasize this: don’t chase your losses. If you could afford to lose that money in the first place, there’s no need to recover it. This session was unlucky, but your next one might be better. Treat each casino session separately. If playing stops being fun, take a break.
Adjust your bets to your balance
This third tip is also very important and should not be taken lightly. Always adjust your bets to your current casino balance. Doing so will allow you to play longer, spin more on slot machines, and increase your chances of unlocking the coveted free spins feature.
If you start with a small balance, it’s best to begin with low bets and increase them as your balance grows. For example, with a $CAD 150 starting balance, stick to minimum bets ($CAD 0.15 / $CAD 0.30) on slot machines if you want your session to last longer.
Of course, you can choose to play aggressively and bet between $CAD 0.80 and $CAD 1.50. However, with a $CAD 150 starting balance, this is very risky. You could lose your money quickly without ever triggering any special features or free spins.
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Withdraw small amounts regularly
You play at online casinos regularly but never manage to withdraw your winnings? Have you ever asked yourself why? Most of the time, it’s because players tend to keep playing, hoping for a big win, and end up losing everything. The temptation of winning more often outweighs the logic of cashing out. To avoid this from happening regularly, you can request a withdrawal as soon as your balance exceeds your starting amount.
For example, if you start with $CAD 150 and reach $CAD 220, withdraw $CAD 75 and keep playing with the rest. This strategy helps you secure some of your winnings while still enjoying the game. Sometimes, you may withdraw at least your initial deposit and continue playing with your winnings only.
Bankroll management means setting limits
Every time you play at a casino, set clear limits for yourself to know when to stop.
Just because you’ve had two great bonus rounds in a row doesn’t mean you’ll keep winning. Setting both high and low limits based on your balance is the best way to play with a goal in mind and stop before it’s too late.
For example, if you start with $CAD 100 and manage to reach $CAD 400, the smartest move would be to withdraw at least $CAD 200 and continue playing with the rest. If you don’t want to do that, another option is to keep playing but stop when your balance reaches your preset limit.
You could decide to stop playing if you reach $CAD 700 or if your balance drops to $CAD 300. After all, winning “only” $CAD 200 is much better than losing everything, don’t you think?
