Here are some of our best tips for bankroll management when you are playing slots machines.
Set a win goal and a loss limit
Before you start a gambling session, set a win goal and a loss limit.
- My win goal is to make a $300 profit tonight. If I reach that goal, I will immediately cash out and leave – even if my superstitious mind is telling me that I must continue because ”I’m on a roll” and ”The machine it hot hot hot”.
- My loss limit is $100. I will only bring a $100 in cash to the slot area and I am okay with losing this money. If I go down to zero, I will not go to the ATM for more – I will simply leave. I paid a $100 to the casino for some excitement and entertainment, I enjoyed myself, and now it’s time for me to go.
Decide for how long you want to play and adjust your bet size accordingly
Decide beforehand for how long you want to play, and adjust your bet size accordingly.
Example: I want to spend two hours playing slots. My budget for this session is $100 which means $50 per hour. Now, I will adjust my bet size accordingly, to make sure that $50 lasts for an entire hour even if only pick up tiny wins here and there.
Don’t rush it
If you look around in a casino, you are bound to spot at least a few people who seem to be gambling as if their main objective was to lose their money as quickly as possible. They are either using autoplay feature or we can see them feverishly hitting the play button a milisecond after the previous round ended.
One excellent way of managing your bankroll is to leave the stress behind. This isn’t your job. You are here to enjoy yourself and have fun, so savor the moment!
Many slot machines are constructed to allow for 600 play rounds in an hour. Statistically speaking, playing the slots is a losing game, so a great strategy for making your money last longer is to just slooow it down. Will you really be having less fun if you ”only” play 300 rounds per hour? If you take time to do a little victory dance when you win? If you allow yourself a little break to chat with the waitress or maybe investigate a new slot game that you haven’t play before?
Don’t risk money you can’t afford to lose
The odds are against you and in the long run, the bank always wins. When we play slots, we essentially pay the casino for being entertained for a while. Yes, it is possible to win, but statistically speaking we are more likely to lose.
Never risk money you can’t afford to lose!
Ask yourself: Would I be willing and able to spend this amount of money on some other form of entertainment, knowing for sure that I won’t get them back? Would it be okay to use them to buy tickets to that football game, a fancy dinner or something similarly frivolous, and could I afford to do this?