Money Management for the Online Slot Player

There is one fact when it comes to slot machines – you cannot alter the spin outcome in any way. The random number generator inside all slot games controls the outcome of each and every spin. There is one thing when it comes to gambling that you have total control over – yourself.

Using sound money management strategies you can plan to keep your winnings, limit your losses and maximize entertainment. This article covers some sound ideas that you should consider before you gamble.

The most important strategies take place before you even choose which game you are going to play. Setting a budget will help you walk away with a big jackpot if you get lucky and avoid one of the most common mistakes that gamblers make – playing too long and losing what they have won.

Before you play a slot machine or any gambling game you should decide on a session budget. This is the key to staying in control. Once you have decided on a budget you have to stick to it. An easy way of doing this is to get the exact amount you need in cash and put away all forms of credit or ATM cards.

This is easy to do at land based casinos as you can either leave your credit cards at home or in the safe in your room. Online it is a little harder to do so we suggest making only one deposit per gaming session. This means that when the money runs out you have to disconnect and do something else.

The amount of your session budget has a direct correlation to the games you should play. You want to have at the minimum 30 to 40 spins on the slot you are going to play. For example it is probably not a good idea to play a $5 slot with a $20 budget. The lower the coin denomination and bet size you choose the longer you will get to play.

When you are playing slots online you are playing with virtual coins so some of the best strategies for land based casinos are harder to implement online. While it is generally recommended not to play with credits at land based casinos you have no choice when playing online.

With a little effort the following strategy can still be used online. The “Play through Once” strategy is quite simple. All you need to do is divide your deposit by the bet you want to make. Once you reach the total amount of spins you either stop playing or you change machines depending on your profit or loss.

For example you make a $200 deposit and want to play a machine with a $2 max bet. You then make 100 bets on your machine and stop playing. If you are ahead you keep the profit and either change machines or repeat the process. If you have lost money you can change machines or come back at another time.

The most important strategy is to take the profit while you are ahead. Many slot players who claim that they always lose simply fail to stop playing when they have in fact won. Remember there is always tomorrow to play again.