Being a regular casino player is fun and all, but a player should have a lot of responsibility and self-discipline to gamble without the risk for his budget. In fact, there are plenty of factors you need to keep in mind when it comes to the financial aspect of your life. If you’ve been playing online real money games for a long time by now, you’ve certainly had lots of wins and losses. And this is how you know that keeping track of your total income and expenses is extremely important.
Best online casinos for long-term players
Of course, all online casinos are made for long-term players. This is why operators have various rewarding schemes and bonuses for existing players. The longer and the more you play games, the higher your status and the better the rewards. We suggest you check the recommended online casinos, and especially their loyalty programs and VIP clubs.
For example, Bodog Rewards is a casino loyalty program that allows players to keep their status forever. So if you don’t play games at Bodog for a long time, when you return, you can start off with the same status and balance of comp points as you left it.
These online casinos also support responsible gambling and can help players control their spendings if necessary.
When it comes to online casinos, it is utterly important to ensure that you are going ahead on your wins. It helps determine if it’s worth continuing playing or it’s better to focus on a different hobby. Below, you’ll find out how to analyze your gambling budget and how to monitor your gambling habits and not let them win over your mental health.
Have a set budget
A budget that you set before playing games keeps you in a so-called “safe zone”. Make sure to establish a realistic budget for your gambling session. This way, you can easily prevent yourself from developing an addiction to games.
When you are in the process of setting a monthly gambling budget, remember that you have things and products to buy, bills to pay, and etc. So first, you need to take all these necessary spendings from your salary, and a part of the remaining spare money can be used for your gambling hobby.
If you’ve been very lucky during a month and won a pretty nice amount of money, then it’s reasonable to save some of these winnings in your bank account, and the rest you can use for the following monthly budget. This way, you will have a disposable amount of money that you can spend on something you’ve been dreaming about, be it the latest iPhone or a vacation.
- Always set a budget for casino games.
- Use money that you can afford to lose.
- Save big wins on your bank account or leave them for another monthly budget.
Keep track of your gambling results
At the beginning, it may be hard to do, especially if you are too lazy to do this kind of stuff. But it’s very important if you want to know the real amount of money that you win and lose on casino games. By doing so, you can easily determine if you are making any positive progress at the online casino.
Moreover, we suggest you not only keep track of wins and losses but also of what category of games you’ve played. It will help you see the difference in payouts when you are playing slots and table games, for example.
By the end of the month, you can look at the table and calculate whether or not you have made a success. For example, you play online slots over a monthly period, wager the total of $1,000 and win $1,250 — it means you’re doing great.
But if you play a new blackjack game over a month and you realize that you’ve only won $500 when you’ve placed $1,000 in wagers, then maybe you should never play that game again or improve your skills of playing blackjack.
Keeping track of wins and losses on different types of games is a great idea because it will help you determine which games bring you more money. And don’t forget to mark your favorite games at your online casino to ensure you can easily find that high-paying game next time.
- Always keep track of your wins and losses.
- Categorize them under each type of casino game you play.
- Calculate the results at the end of the period.
Have a separate bank account
This step helps you spend no more than you’ve set for the budget. Of course, you should have a very strong self-discipline that won’t let you load up more funds into your bank account.
Having a separate bank card is also good for security. If anything happens with your casino account or bank account, you can still use the money from your primary bank account.
If you prefer some different payment method such as an e-wallet or online banking, you can also use it for your gambling purposes. Then, you can have your bank card for your everyday needs and an e-wallet for gambling budget.
Having a separate account dedicated to online gambling makes you learn to be disciplined. Besides, it allows you to keep track of how much money you spend on games and cash out from your online casino.
- Have a separate bank account (or a different payment service account) for your gambling purposes.
- Deposit and withdraw via this account only.
What if you fail to do all these steps
If you think that managing your gambling bankroll is not so important and you don’t actually do it, you may have serious gambling problems in the near future.
Everyone knows that gambling is addictive. And the financial aspect is the first part of life that becomes affected. Spending too much money on games leads to borrowing money from your friends and family members, running into debts, and so on.
If you fail to determine your expenditure and income from online casino games, you are vulnerable to negative gambling habits. As time goes, you can find yourself in destroyed relationships with your loved ones.
In the long run, casino players get easily affected and addicted unless they control their budget and keep track of wins and losses.
Although most online casinos have different responsible gambling measures, some operators are simply trying to take your money, not worrying about your problems caused by gambling. Just the other way round, your gambling addiction may go to their advantage.
This is why we recommend playing at the best online casinos only — ones that have responsible gambling and safety measures, and ones that are properly regulated.
All of these tips will help you monitor not only the financial aspect of your life but also your gambling habits. Thanks to having a set budget, a separate bank account, and keeping track of your losses and wins, you can get more disciplined and stay safe when playing games online in the long run.
If you are looking for a payment method for casino deposits and withdrawals, we suggest you choose charge-free options. Some banking methods like e-wallets and online banking services can charge players for transactions. The best method would be a bank card. But make sure your banking institution supports online gambling. Otherwise, you mahe blocked transactions. Besides, remember that bank cards are not as fast as e-wallets. So it’s up to you to decide. You can also consider cryptocurrency options for your gambling purposes.
It is very individual and depends on your income and necessary payments you make every month. But let us give you a general percentage of money you can spend on gambling — 5%-15%. So for example, if you earn $3,000 a month, you can take from $150 to $450 for gambling each month. But you need to consider your own financial situation. For example, if you have a loan to pay for your car or your apartment rent is big, and so on, you need to pay them first. And only then you can calculate your spare money for online casino games.
Yes, of course. It’s a great idea that will allow you to determine whether or not it’s worth using casino bonuses. Besides, you will understand which offers are more profitable, be it a match bonus, free spins, cashback, etc.