The importance of budgeting correctly when playing at an online casino

Last Updated on 11th January 2021

As with our guide to good poker bank roll management it is essential that when you are gambling with an online casino that you budget appropriately. You should always know your limits and spread your gambling budget between a couple of your favourite online casinos.  The most important aspect is that you should never gamble with money you cannot afford to loose.

Diversifying between various online casinos

Never put all your eggs in one basket.  Gambling is a financial transaction and as with any sort of speculating, investing, trading or betting you should not rely on a single platform.  Every business has problems and it pays to have an open account with a secondary online casino so that if there is an issue you can move quickly without your play being interrupted too quickly.  Gambling is also fun and emotional.  You may find that you get annoyed with a specific brand and want to try another too.  Switching between graphics and scenery is a good way to avoid getting bored.  Gambling bored is one of the quickest ways to lose money, so make sure you keep yourself interest!

Set your online casino budget and stick to it!

This is very important.  Set aside funds to gamble with.  This should be your play money.  Also, never bring all your budget to one casino or one table.  Doing so is the quickest way to be taken out of the game.  A good strategy is to open accounts with at least four of the best online casinos and split your budget between them.  That way you can take advantage of the best online casino welcome offers and protect yourself from over betting.  When you join a table )either roulette or blackjack) never sit down with your full bank roll.  Add a max of 25% of your account balance to play with.  just like everyone else you’ll have good and bad betting runs.  Protect yourself from loosing your entire balance by not committing it at all.  If you have a bad day you can come back to fight another day when your luck has changed.

Never bet with money you cannot afford to loose.

Many of the largest online casinos accept deposits from credit cards. Whilst credit cards offer their customers better protection that traditional debit cards it can lead to racking up serious debts.  this is because the money is virtual and you think that you don’t really have to pay it off.  If you loose £3,000 on a credit card, you may end up paying £1,000 a year in interest charges.  Never borrow to gamble.  That is the rule.  Only gamble with your fun money!  if you think you have a problem or have been using a credit card to fund your gambling have a look at Gamble Aware for advice.

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