How to Better Manage Your Bankroll While Playing Slots
Does it feel like you’re just losing money every time you play slots? Are you going through your bankroll too fast?
While slots strategy doesn’t require a lot of mathematical skill, you can create your own slots strategy to keep from draining your wallet. It’s called bankroll management.
Bankroll management in slots refers to the process of making financially sound wagers based on how much money you have to gamble with at any given time. It can help make your bankroll last longer so you can keep playing and even increase your chances of winning.
Here’s how to do it.
12 Tips for Managing Your Bankroll While Playing Slots
Follow these 12 steps to better manage your bankroll while playing slots, whether in-person or online:
Only wager what you can afford.
Choose slots with maximum bets within your budget.
Make a gambling budget.
Hide your bank card away.
Find active slots.
Don’t overdo the autoplay.
Slow down on spinning.
Save a portion of your big wins.
Set a stop loss point and stick to it.
Track your winnings and losses.
Control your emotions.
Take advantage of casino bonuses and promotions.
Only Wager What You Can Afford to Lose
This is the golden rule of gambling. Before you go to the casino or log in to your account, determine what you can afford to play with — basically, how much you’re comfortable with spending and not getting back. This is an important step that can keep you from eating into your bankroll for future sessions or your living expenses.
Choose Slots With Maximum Bets Within Your Budget
Now that you know your absolute maximum amount you can lose, split your individual wagers up into what you can afford to lose in one spin. The bet size should be relative to the size of your bankroll. The general rule is not to bet more than 2% or 3% of your total bankroll.
If you have $200 to play with, avoid expensive slots and set your maximum wager at $4. However, that goes by fast in just 50 spins. Want 100 spins? Set your maximum wager to $2 per spin. Get 200 spins at $1 per spin. You get the idea. It all depends on whether you want to make it last so you have more fun, make it last to have some leftover bankroll to roll over to your next session, or maximize your wagers by going for bigger wins.
Read the paytables of each slot you want to play to see what the maximum and minimum bet sizes are. Then only stick with the slots that are within your betting range.
Make a Gambling Budget
If you plan to gamble regularly, budget out a certain amount from each paycheck or each month that’s just for gambling that month. Alternatively, you can build up a bankroll by saving smaller amounts of money from each paycheck and then start playing once you’ve saved up enough for a certain number of sessions.
Either option will ensure that you don’t dip into the money you need to live. Just make sure the gambling budget is relative to your living expenses. This requires a lot of discipline but is so worth it.
Hide Your Bank Card Away
Once your bankroll is gone, don’t try to load up again. Avoid the temptation by leaving your cards at home. If you’re going to the casino, only bring enough cash that you can deposit onto the casino card or put right into the slot machine (and to pay for drinks if you want them).
If you’re playing online slots at an online casino, your payment info is saved on your account, so practice discipline to avoid depositing more money.
Find Active Slots
Though myths about slots will tell you that some slots are more loose than others, an active slot is just one that pays out more frequently or in larger amounts.
Look for the slots’ return-to-player (RTP) rate. This is the average rate at which a game pays out to a player per $100. The higher the RTP rate, the more “active” the machine is.
You should also find a slot that has the right volatility for how you like to play. Want to win more frequently? A low-volatility slot pays lower amounts more often. Want to win larger amounts? Slots with high volatility don’t hit as often but the payouts are bigger.
Autoplay allows you to hit spin once and watch the wins roll in. It reduces the lag time of manually hitting spin every time, so you’re spinning (and wagering) more often. And the more times you wager, the more chances you have to win.
But this also means you’re running through your bankroll faster. If you have a large bankroll, using autoplay should be fine. If you’re low on funds, stick with manual spin for a while so you can make it last a bit longer and adjust your bet sizes.
Slow Down on Spinning
Similarly, you can also slow down and take a small pause between each spin so that you’re not going through your bankroll as quickly. This can be a great strategy for those looking to play as long as possible.
Those who want to maximize their winnings can benefit from a slow down, too. Alternating between lightning speed and relaxed speed makes you aware of your bankroll and how much you’re spending.
Save a Portion of Your Big Wins
Treat your wins as investments, and split them up wisely.
Let’s say you have a bankroll of $300 and you hit a $1,000 win. You might be thinking, “Now I have $1,300 to play with.”
Instead, consider setting aside half (or more) of that win for future sessions or personal spending money outside the casino. You’re still left with $500 plus your $300 bankroll, giving you a boosted bankroll of $800. But you’ve also got $500 set aside for the future.
Set a Stop Loss Point and Stick to It
While your bankroll is the absolute maximum you’re willing to lose in one session, you should also set an overall loss limit — the amount of money lost in consecutive or incredibly frequent losing spins that signals you to call it quits.
This can help you learn to identify a losing streak and quit before you chase down that losing streak and waste potential funds for a future lucky session.
Track Your Winnings and Losses
Keep track of the results of each slots session so you can understand your actual wins and losses. Consider keeping notes on:
The amount you started with
The amount you ended with (if any)
Which machines/games you played
Any big wins and for how much
Any losing streaks and for how much
Any winning streaks and for how much
How you felt before and after playing
All these factors can help you see how much money you’re spending and whether you’re actually making money and having fun. Some are a bit more meticulous than others, but having this information makes you think of bankroll management more like budgeting rather than just not blowing all your money on one machine.
Control Your Emotions
Like all forms of gambling, you should try to leave your emotions out of your decisions. Emotions can lead you to make decisions that go against your best bankroll management judgment. For example, you’re on a losing streak. Instead of letting fear and anxiety take over, let logic tell you that you might want to take a break or call it quits.
Take Advantage of Casino Bonuses and Promotions
Many online casinos give new players free spin credits or deposit match bonuses. You can use these free play opportunities to potentially win and boost your bankroll at no risk to your own money.
But always read the terms and conditions to figure out the playthrough requirements. These can include an amount you have to wager of your own money before you can claim any winnings you earned while playing on a bonus and a deadline to meet these requirements. Check out our reviews of the online casinos in New Jersey and their bonus offers!