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Bankroll management is something we should have as a key focus in every element of our lives. Yes, we know people who can go overboard, and there are the misers among us who need a steak knife to open their wallet, but there is plenty to be said for those of us who can strike a sound financial balance in our lives.
In casino gaming, this approach is essential. If you are somebody who cannot stay within suitable limits, then this is one of the first and most evident examples of problem gambling.
However, the majority of casino gamers can stick to the limits they set themselves. For those who can, budget-friendly tips can really help you explore the full scope of what the industry has to offer, and today, we’re going to cover the essential tips to help you explore the vastness of the online casino market in the most cost-efficient manner. It doesn’t matter if you enjoy poker, roulette or slots, or dabble in multiple games; you can apply these tips right across the board.
Seek out and use promotions
With thousands of online casinos all attempting to make a name for themselves in this market, promotions and advertising have become the main way for casinos to expand their reach and brand visibility. The most effective way to grab the attention of prospective customers is to offer something that is cost-effective. In casino gaming, these translate into two key concepts: free spins and cashback.
Cashback is a concept often seen on poker sites, but more recently, the emergence of the cashback casino model has expanded this design into the broader iGaming industry.
Ultimately, you receive a percentage of what you lose from your initial deposit as a cashback bonus, that’s how it works. Let’s say an online casino is running a new customer promotion, and they’re offering 15% cashback – this means that if you deposit £200 and you lose it all, you will receive £30 as a cashback bonus.
Sometimes brands will pay this out in on-site credits, but the main goal is to incentivise a new signup. However, if you are a new customer, nothing is stopping you from hopping between sites and taking advantage of each new signup opportunity.
While this will not help if you are trying to declutter your email inbox, it is the most budget-friendly way to find out what a site has to offer, and is a tactic that many casino gamers employ as they decide on which brand they most like the look of.
Using time and deposit limits
Responsible gambling sits at the bedrock of the online casino world. However, it can look different depending on your budget. Some casino gamers have thousands of pounds at their disposal; they may be in a corporate position or they might not have the overheads that other people do. Financial planning is an essential part of modern life, and it is also a crucial part of online gambling.
You should never gamble with money you cannot afford to lose, and setting up a 24-hour deposit limit is one of the most effective ways to maintain a budget-friendly casino gaming approach. Establishing a time limit on your session also ensures you do not go overboard or lose track of time when you sit down to play a casino game.
However, if you do struggle with staying within the limits you set yourself, the best course of action is to not gamble at all, and seek out information about problem gambling charities that can provide a more in-depth insight into how to stem your problem gambling.
Opt for lower stakes and better odds
There are plenty of arbitrary examples to choose from here, but let’s say you have a budget of £100: you could either play £2 hands of blackjack or you could bet £20 across five different roulette numbers. The latter is unlikely to yield a result, and your gambling venture will be over within the space of a few seconds.
However, if you opt for lower stakes in a game like blackjack, where the odds are better than individual number bets in roulette, then this has less of an impact on your budget and gives you more playing time. It also helps you build experience at the table, get a feel for what other players do, and give you an insight into niche elements of the game, such as insurance, all because you have adopted a more budget-friendly approach.
Final thoughts
Ultimately, a budget-friendly form of gambling involves shopping around, finding cost-effective promotions and understanding how the games work so that you can manage your bankroll accordingly.
Responsible gambling tools have come a long way since the beginning of the online casino age, with more companies integrating AI to detect problem gambling patterns, and going through vigorous verification and proof of earnings checks to protect problem gamblers and to shield themselves, ensuring they are adhering to AML regulations.
Although AI is set to transform every facet of the gaming industry, it could be in the area of bankroll management and problem gambling detection that it yields its most impactful results. Stick to your budget, don’t exceed your limits and ensure that you seek out help if you believe you are straying in the wrong direction with your betting.
