A sound bankroll management strategy will allow you to stretch your cash to be able to play for longer and boost your chances of hitting more winning pay-lines, but it will also teach you how to set up your stop limits and prevent financial disaster.
First of all, players need to decide the amount of funds to be used playing on one single slots session.
The most common mistake that slot players make is to start playing without determining how much cash they’re going to spend.
You may decide that your limit should be big enough for you to play for one hour, few hours, all night or the entire day but what’s really important is that you decide this limit before playing and agree to respect it.
Discipline and Self-control
Discipline and self-control are two skills that you must hone; these will allow you to stop playing when you’ve reached your win-loss limit and save you from incurring in bigger losses.
Please remember that playing slots is in effect gambling and thus losing is just part of the game.
One very important step in Bankroll Management is to set your stopping points. You must set a “win limit” as well as a “losing limit”. These will tell when you’ve lost enough for the session and when you’ve reached your profit target.
The problem with not setting your limits and sticking to them is that if you run out of funds, you may be tempted to continue playing and incur in bigger losses. Or as it some times happens, you may get upset about losing your credits and try to win them back, which can lead to financial disaster.
It may seem obvious but the result of not setting Slot win-loss points is that the losses can promptly add up and put your financial stability at risk.
Players that lack discipline will often keep on playing after they’ve reached their winning limit simply because they’re on a winning streak.
Winning limits are just as important as losing limits. Similar to a losing point, a win limit is an amount of cash that you have won playing online slots and that you will be happy to take with you.
You should always respect your winning stop points and make it a habit to stop playing once you’ve reached this limit. Failing to stop at this point can be dangerous and result in losing even more money.
Some times what happens is that once players have gone over their winning stop point, they have a false sense of confidence and start making silly decisions.
The problem with this is that players unconsciously allow themselves to lose more money without feeling worried because they’re “in the money”.
When players carry on playing passed the winning stop point and suddenly find themselves below this limit again, they often become obsessed with winning back the cash which can quickly drive them to bankruptcy.
It’s this cyclic behaviour the one that can really cause financial harm and leave you with a feeling of failure after playing. One effective way of avoiding it is to always stick to your stopping points!