Money Management

slots money managementWhen playing online slots it’s best to manage your money and your game in a way that offers you maximum opportunities to win as well as maximum enjoyment while playing. Often described as bankroll management, the term simply refers to a number of tips and strategies which are used by some of the worlds most professional and experienced players.

  1. Bankrolls – First of all work out exactly what your budget is and what you are prepared to lose – and stick to it. No matter where your game is at, if you are winning or losing, don’t be tempted to dip into your cash card or credit card for additional funds. The total budget you have allowed yourself is most commonly called a bankroll.
  2. Session Bankroll – Once you have your budget, divide the total into the number of sessions you wish to play. For example if your budget is five hundred dollars and you have five machines you’d like to play on, then each session bankroll will total no more than one hundred dollars. Again, don’t be tempted to use additional bankrolls in any given session.
  3. Rolling Stop-Loss – Say you have a session bankroll of one hundred dollars and you win a game or series of games that gives you another of fifty dollars. Your base will now be fifty dollars instead of zero. This means that whatever happens during your session, you will only ever lose what you were prepared to in the first place, while hopefully taking home some winnings to boot!
  4. Maximum Bets – playing the maximum bet on online slots appeals to many players because the jackpot returns are that much higher than with a single bet. When playing maximum bets though, it’s important to keep in mind the coin size and how long you want to play for. There’s no use playing maximum bets if your session ends in ten minutes and you were hoping to play for a half hour. Again, discipline and forward planning are essential for getting the most enjoyment out of your game.
  5. Bet Size – this is a big question for many players as there are now literally hundreds of online slots on offer with a wide variety of coin sizes available. The first thing to do is decide on your bankroll amount (how much you are prepared to lose, or your total budget) and your session bankroll (your bankroll divided by how many sessions you want to play). Your bet size should then be around one or two percent of your session bankroll. For example, if your session bankroll is a hundred dollars then it’s a good idea to keep your bets to either one or two dollars. These can be either single bets or maximum bets on a machine with a much smaller coin size. Feel free to bet smaller amounts, but don’t be tempted to bet larger amounts. Your game will only be shorter which is no fun.
  6. Don’t be tempted to place a larger bet if you’re losing.
  7. Loss Limits and Win Goals – Loss Limits can help give you the confidence to exit a game before you have spent your session bankroll while a win goal can mean you play for longer while minimizing the risks of losing it all over again. You might set your loss limit as half your session bankroll, which means you stop playing once half the session bankroll has been lost. Alternately, if you’re on a winning streak and you’ve doubled your money, this is probably a good time to end the session.
  8. Do your homework – take the time to look at a variety of online slots, what jackpots they offer and under what conditions. It’s important to choose a game that suits you and enables you to play the longest. Our reviews section is a great place to start if you are new to online slots.
  9. The most important thing to remember while playing online slots is to have fun and remember that what you are doing is a form of entertainment and is there to be enjoyed. Effective bankroll management is key to this experience, and is used by some of the best and most successful gamblers throughout the world today.

If you want to play online slots, then bankroll money management is a must.