Money Management Techniques You Must Use When Playing Online Slots

slots online If you’ve ever played online slots, then you know how thrilling this fast-paced game can be. Unfortunately, it is also addictive and it can be very easy to lose a lot of money if you don’t know how to play intelligently. Even if you are just a casual slots gamer who plays for fun rather than a more serious one who is trying to beat the odds, it helps to know how to play the correct way so that you can not only maximize your enjoyment but also hopefully increase your chances of winning.

The first step is to start learning good money management skills. The goal of money management is to be able to use your gaming bankroll in such a way that you can maximize it to be able to play for the longest time possible, when the odds might suddenly turn in your favor and you begin to win more than you lose. The two pillars of bankroll management are setting win goals and loss stops. For example, you decide that your win goal is $100 and that when you win this amount you will stop playing. While this might potentially limit your wins it will surely also limit your losses, which is the more important objective. Keep in mind that no matter what kind of a winning streak you are on, it will eventually turn against you so it is better to walk away with some winnings rather than logging off after having lost your entire playing bankroll.

The same principle goes for loss stops. When you lose a certain amount of money, for example $50, you stop playing. One of the worst things a player can do is to chase their losses, meaning continue to play when they are on a losing streak in the hope that it will eventually break and they will start winning again. It very rarely happens that way and the smartest thing is always to walk away before your bankroll is completely depleted.

online slotsYou should also set bet limits. This means that you will only bet a certain amount of money per wager, no matter what, and stick to it. For example, you decide that you will bet no more than one coin per payline. While many gamblers will tell you that you should always maximize the amount of money you play, particularly in big-payoff games like progressive jackpots, you should always remember that the odds are never in your favor when you are playing slot games. It is better to gamble a controlled amount and win a little than to risk it all on a single bet and walk away with nothing. Another thing to remember: the more you play, the higher the chances that you will eventually start to win. So play smart and manage your bankroll rather than trying to be a high roller.

In order to help you stick to your money management strategies, you can keep a journal in which you list your winnings and losses as well as the loss stops and win goals that you’ve set.  This will encourage you since you can see how effective your strategy is in helping limit your losses while accumulating small wins that add up over time.

Another way that you can stretch your bankroll is by availing of online casino bonuses. These bonuses are provided as incentive to new players so they’ll establish an account with a particular gaming site. The most common type of bonus offered are matching bonuses in which the online casino matches the amount of your first deposit into your playing account, up to a certain percentage or amount. For example, if you deposit $150 into your account, if the casino matches your money 100% then you have $300 to play online slots with. However, you cannot cash out the bonus until you have played it a certain number of times. For example, if the amount of the bonus is $150 and there is a 20X playing requirement, you will have to play $150 twenty times or $3,000. Once you have met this condition, you can cash out the bonus. Of course any winnings also belong to you and you can cash them out as well.