Financial intelligence is crucial in almost all facets of life including gambling. Yes, you heard that right, you need to manage your money properly when in the casino. In fact, the difference between winning and losing lies on how you handle your finances on the casino floor. As such, it’s important that you know how to properly manage your bankroll. Managing your bankroll is not restricted to land-based casino visits only but it also applies when you visit the online casino such as NetBet Casino.
Withdraw your Deposit
Casinos with the exception of the emerging zero edge gambling casinos do come with a house edge. What this means is that a casino even before you start wagering on your favourite games or placing stacks on a football match have an advantage over you. While this is a fact, you can override it if you follow this tip. Once you make your first deposit, proceed to wager on selected games of your choice. When you win an amount equivalent to your first deposit, you must then immediately withdraw your deposit. What’s then left in the account is the ‘profit’ and it is this money that you should wager with from then onwards. While we aren’t saying that you are likely to lose, you will play at the casino in a nice mood if you do this as it will mean that you are not playing casino games with your money but with the casino’s money.
Don’t play with emotions
Emotions no matter the stage or situation must not influence your decision making. This also applies to the world of gambling. At some stages, you are likely to go on a winning run, as has been the case with most other gamblers in the past, the winning run will implore you to chase the high. While this is a common phenomenon, chasing the high, chasing after more wins when on a winning run, bear in mind that you should approach the situation with a clear mind. Don’t let the thrill of winning influence you to keep going because once you start to lose, you are also likely to go on a losing streak while chasing your lost funds. If you came with a plan to play a certain number of games, stick to it even if you find yourself on a winning run.
Know your bet range
One of the worst mistakes made by many gamblers is that they do not know their bet range when they visit the casino. After making a deposit of $100, they assume they can wager with any amount as long as it’s equal to or below their deposit amount. This is a grave mistake that will only lead to one outcome and that outcome is the player will lose the entire bankroll on many occasions, in one go. You should as a rule never wager or place a stack of more than 5 percent of your deposit. What this means is that when you make a $100 deposit, the highest amount you can wager with in one go is $5.