When it comes to casino visits, bankroll management can be one of the most important aspects of a casino visit. Without a plan, it can be easy to lose track of things and spend more than you planned, or worse, potentially chase losses without a cutoff point.
Casinos are meant to be for entertainment, but because there’s real money involved, it can be an emotional scenario at times. So, we’ve compiled 5 bankroll management tips to help you set healthy habits that can ensure the trip remains a fun experience, regardless of the outcome of the visit.
1. Set a Limit Before Leaving Home (and Bring Cash)
The first step is to figure out what your limit is for the visit. We’re not fans of open-ended ATM runs and other steps that can make it easier to lose track of how much is being spent on a trip.
Instead, look at what makes sense for your entertainment budget, and make a decision to cut yourself off for the day if that money is exhausted. Even better, take the money out of your local bank in advance, which not only lets you save a few dollars on the way out to the casino, but also reduce the temptation of hitting the ATM for more money.
2. Set a Limit Per Machine
When you sit down at a machine, decide how much you’re going to give it, and put that into the machine. If you play through that money and it’s exhausted, you can then contemplate if you want to give it more or if you want to move on. In this way you can decide whether you’re feeling the game, or want to spread the wealth around.
This process can be important if a game provides a frustrating session, as it can make it easier to make the decision to get up and try something else, or perhaps take a break.
3. Put a Time Limit on the Visit
All casino games are designed to make money for the casino. The longer you’re there, the more likely they’re going to get the upper hand, even if you’ve been up for hours.
That’s why setting a time limit is a good bankroll management approach – it can ensure a better chance of leaving with some money, vs. playing until you run out, which many times players can find themselves doing.
4. Only Put Cash Into a Machine
One bankroll tip that we really love that we’ve learned from some players is limiting what goes into a machine to cash. It’s easy to put a big ticket you racked up on one machine, insert it into another, and play beyond your originally intended stop point.
Instead, putting some set amount of money in a machine requires another moment to think about whether you want to keep playing if that money is exhausted. It encourages a healthier approach by creating more decision points.
5. Set Aside Winnings
If you do get ahead, it can be an easy process to burn through the winnings and your bankroll. So, setting aside winnings to be earmarked to go home is a good technique for ensuring you leave with some money.
If you’re worried your discipline won’t hold out, a tool many gamblers enjoy is something called a Winners Bank – you can put cash into the device, which can’t be unlocked until you’re reunited with the key, hopefully at home. With this tool you can ensure you leave with money when you get some winnings on the board.
Share Your Bankroll Management Tips
Are there specific steps you take to protect your bankroll? Share them with us in the comments!