Whenever you plan to gamble online, you have to set yourself a budget. Managing your online gambling bankroll is extremely important. Furthermore, it’s the deciding factor on how much you’re going to bet in a session, and how you’re going to take your money forward. Read on to find out out tips for good bankroll management.
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Divide Your Online Gambling Bankroll
The best way to manage your bankroll is to divide it into different segments. For instance, if you signed into a new online gambling site and plan to gamble for four days straight, then you can make four equal portions of your bankroll. You can also divide your bankroll into eight parts where you use two portions per day for different sessions.
So, let’s put this into perspective. You plan to gamble in the afternoon and night, for four days straight. If your bankroll is 1,000 Rs., then you’ll be able to use 125 for Rs. for each session. You can stop gambling after you’ve lost 125 Rs. in a session. If you’re finished gambling in a session, and you still have money left, then you have some choices. You can either distribute your excess online gambling bankroll to other portions, or withdraw the funds and put them in your pocket.
Responsible Gambling Limits
Gamblers lose money with time, and their losses increase if they play for longer. Therefore, it’s best to set limits on your casino and online betting accounts. This way, you’ll know when you have to stop playing for the day. So you can set different limits on your account restrict your losses. Live Casino India takes responsible gambling very seriously. Therefore we only recommend online gambling sites that allow players to set limits.
Different types of limits you can set are:
Session Time Limits
When you reach the time limit, you stop losing money. Moreover, if you won some money, then you can keep the money as profit. Sometimes, time limits are alerts that warn you that you’ve been playing for a long time. However, at some sites, as soon as you reach the time limit you may be logged out of your account.
Setting loss limits is the best way to protect your online gambling bankroll. It stops you from playing if you lose a certain amount. You can set this limit to whatever amount you feel comfortable with. What’s great is that once you reach your limit you have to stop. At some gambling sites you can reset your limits, but there is normally a 24 hour cool down period.
Probably the most helpful limitation to your online gambling bankroll management is setting deposit limits. You can set different limitations for a daily, weekly or monthly basis. As we discussed earlier, if you plan on gambling over a certain period of time in a given month, set your self a budget.
So if you plan having a budget of 50,00o Rs to gamble with, then you can do the following. You can either set yourself a weekly deposit limit of 12,500 Rs. or a monthly deposit limit of 50,000 Rs. Furthermore, if you want to restrict yourself to a certain day’s gambling session, then you can set a daily deposit limit.
Other Online Gambling Bankroll Tools
- Bet limit (daily / weekly / monthly)
- Set a Time Out on your account for specific periods of time
- Self Exclusion allows you to close your account temporarily or permanently
So, if you want to gamble responsibly be sure to only visit our recommended sites. Furthermore, we offer professional live games guides so that you can gamble with a strategy to increase your chances of winning. For example, if you like playing Teen Patti or Andar Bahar, then read our betting strategies.