Budget your money when playing at casinos

11 Aug 2013       By

One of the most important tips you should follow when trying to gamble responsibly is to budget your money. The biggest temptation you’ll face is spending more than you have. It’s so easy to get carried away once you start winning. The mistake many gamblers make is to get greedy, play for longer than they should, lose everything and then bet even more to try and win it back. It’s a vicious cycle that often leads to major losses. With some careful budgeting you can help prevent this from happening to you.

Preventing gambling your life away

A great tip to prevent you from losing your entire life’s savings is to have two online accounts. The first should be a basic bank account, which doesn’t allow you to have a debit card or internet banking facilities, but it can be used to pay all of your direct debits. You won’t be able to touch the money in this account for gambling purposes. The second thing you can do is set up is a Moneybookers account, which can be used primarily for your online gambling sites.

Creating a realistic gambling budget

Once you have your accounts set up, you then need to decide how much you can afford to gamble each month. Place that money into the Moneybookers account and the rest into the bank account. You then know exactly how much you have left whilst you are gambling. As frustrating as it may be at the time, if you run out of money in the Moneybookers account, you have no alternative but to wait until the end of the month to gamble again.

Some casino sites actually have limits you can set. You can inform the site not to let you stake more than a certain amount and can set deposit limits too. These aren’t as effective as creating two separate accounts but it is an alternative option.

Don’t make use of reverse withdrawal features

There are some casinos that have been pretty clever with their feature development. One particular feature which can cause many problems for the gambler is reverse withdrawals. This is basically a set time period after you have made a withdrawal, where you can put the money back into your account. It encourages you to not take money away from the site and to cater to your gambling addiction.
The best thing to do is to join a site which doesn’t have reverse withdrawal features. It’s much better if the temptation is taken away completely, than if it was simply masked on the site.

All in all, the above are the best ways to budget your money while playing at online casinos. Going into the gambling world with a budgeting strategy can really help to save you a lot of stress as well as money. It’s also important to weigh up the pros and cons of different casino sites before you sign up. Look at bonuses, terms and conditions and range of games available. There are thousands of casino sites available so always do your research to ensure you are joining a reliable and trusted site.

Budget when playing casino games