Gambling online can be a fun way to spend a few hours a week – and it can lead to significant financial gains! However, new exciting online casino games, cutting-edge graphics, and engaging game plays have made it all the easier for players to get caught in their game and lose track of their budget!
Luckily, with the right tips, you can safeguard your savings and enjoy a risk-free gambling session.
Get started by introducing the strategies below the next time you visit an online casino!
First Things First: Set a Budget and Wager Limit
While sticking to a spending limit when gambling might not always be easy, not having a clear budget in place for your gambling session can make it all the more difficult! That is why the first step to gaining more control over how much you spend is to set a budget.
What’s more, once you have a figure in mind, you should set a wager limit that can help you manage how much you spend on each bet. While your wager limit might vary according to your budget and experience, a good rule of thumb to follow is to place around 1-3% of your budget on each bet.
Keep Track of Your Wins and Losses
While setting a budget might seem like an unnecessary precaution at first, it is important to keep in mind the devastating effect that overspending when gambling can have on your personal finances.
What’s more, according to statistics by the National Council on Problem Gambling, over 2 million people in the US struggle with a gambling disorder, and an additional 4-6 million individuals show signs of problem gambling.
To avoid the financial and mental health effects of gambling, consider tracking your wins, losses, and rate of success, and avoid placing bets out of desperation.
Lower Your Card Spending Limit
If you tend to use your credit or debit card during your gambling sessions, a great way to gain more control over how much you spend is to get in touch with your bank and lower your spending limit.
This simple trick can prevent you from misspending your savings on a single gambling session!
Choose a Safe Online Casino
Alongside the best practices of safe online gambling seen above, it is also important for players to choose a safe online casino. Indeed, according to statistics, online gambling fraud has spiked by 50% over the past months and the proliferation of new online casinos makes it more challenging for players to find a safe gambling site.
Protect your savings by reviewing your chosen casinos’ regulations, policies, terms, software, and licenses.
Learn How Each Game Works and Practice First
Not all casino games offer the same chances of reeling in consistent winnings, and some games are certainly more complex than others. So, before placing significant bets on a Blackjack or Poker game, make sure to understand how online casino games work.
And, don’t forget that practicing your skills can help you increase your chances of winning!
Use a Different Currency for Gambling, e.g. Crypto
Online shopping or betting increases the risk of overspending. However, today’s gamblers have many resources in place to help them manage their outgoings.
For example, you might consider using a budgeting app to track your winnings and losses, or, you can use a separate prepaid card to avoid dipping into your savings.
Another great option is to use a different currency, such as cryptocurrency, at participating casinos such as Oshi Casino. This simple strategy can help you stick to your crypto wallet, safeguard your savings account, and protect your financial information from unsafe websites.
Take Advantage of Welcome Bonuses and Free Spins
Welcome bonuses and free spins are there to entice new players – but they are also a great resource to take advantage of! Most online casinos allow players to enjoy free spins, gain bonuses when placing a deposit, or even benefit from no-deposit perks.
Just make sure to shop around for the best bonuses and games before signing up for a certain casino.
Set Boundaries and Use Strategies to Stop Playing at The Right Time
Online gambling is a great way to kick back and relax after a day at work, or it can be a fun pastime during a rainy Saturday afternoon. However, without control over your budget, an enjoyable gambling session can quickly turn into a severe threat to your finances. Make sure to hone your self-control and have strategies in place to stop playing at the right time.