When you play at land-based casinos or at a dansk online casino, you have the chance to leave your debit and credit cards at home and only take a certain amount of cash with you to the casino. However, when playing at an online casino, you are playing in the comfort of your own home, which means your purse or wallet is right there in the same dwelling. Those debit and credit cards are within easy reach, and it takes just a few minutes to grab that card, input information and load money into your account to begin playing.
So, it goes without saying that you need to have control of your money. Here are a few money management tips to help you understand the money aspect of online gambling:
• Never use your money for rent, car payment, utilities or food to gamble. Only gamble with money that you can truly afford to lose.
• Be firm about a bankroll amount and set yourself a time limit. If you do this before you begin gambling, you are in control. Set a maximum amount that you are willing to spend in your session, and determine a time limit for that session. Set a timer or alarm if you must so that you know when you reach that time limit.
• Most importantly, stick to that bankroll and time limit. Never go over, as it will only cause problems financially.
• When you are on a winning streak, don’t strain from placing larger wagers. When you are on a losing streak, try betting smaller wagers. You will have the urge to place larger wagers when you are losing, but this isn’t the correct move, as you should bet less. Only bet more when you are winning. This creates less of a gap between the house edge and your favor.
• Understand that you will win some and you will lose some. Don’t try to make back lost money by increasing your bets or making one large bet.
• Have patience when you are losing. Don’t just throw in the towel because you are on a losing streak. Winning will come back to you, but you must be patient. However, never exceed your bankroll while waiting for that winning streak to catch up to you. When you reach that bankroll, quit and try another day.
One last thing to keep in mind when gambling with real money, always quick while you are ahead and never, ever look back.