Bankroll management. If you haven’t heard the term before, chances are you’ve lost your bankroll more than once in your life. Bankroll management means that a player has some sort of a plan prepared, in case he or she goes on a losing streak (sportsbook, casino, it applies to all gambling / gaming).
Bankroll management is also a way of protecting yourself from harmful gambling behaviour, which can lead into serious troubles. It’s a way to have some discipline when you’re playing, and it’s sole job is to minimize any possible financial damages you could cause to yourself. Not all players need bankroll management, but if you are already interested in online casinos, you’re most likely a “gambler” and have tendencies to take unwanted risks.
Only play what you’re prepared to lose
In sports, this would be a bad way of motivating teams, but when there’s money involved, you should ALWAYS be prepared to lose everything. Remember, house always wins, and there’s nothing you can do about it (unless you’re into sports betting, but that’s a different story). Games should be fun and entertaining, and until you accept the fact that the house always has the advantage, you’re not capable of fully enjoying what the slots and other games can offer.
Keys to healthy gambling:
- Gambling cannot do harm to your current financial status
- Don’t play if you’re angry, drunk, frustrated, depressed or have any other mental illness
- Keep your bankroll separate from the funds you use to live off
- Don’t deposit more than you originally prepared to lose
- Take breaks if you’re playing on longer sessions at a time
Built in player protection
Casinos that are licensed in for example the UK and Sweden, have requirements on them to have built in protection for players. In UK for example, the Gamstop system which allows players to self exclude from all casinos connected to the system. Unlicensed casinos however do not follow the same rules and therefore creating situations that can some times spiral out of control for players with gambling issues.
Paul Collins is a freelance journalist from Newport, Wales. Paul has worked within the Gaming Industry since 2009. Paul focuses mainly on sports but also covers regulatory and compliance news pieces.