You must have heard about the money management rule if you’ve ever crossed paths with slots. There’s a misconception about this rule stating money management will make you richer. That’s entirely not true. Actually, a more proper name for this type of management regarding slots would be emotion management, because practically, that’s what you need to manage: your emotions.
The thing is, whether you’re winning or losing on slot machines, you make impulsive decisions based solely on your emotions and not at all on your reason, and you become prone to losing rather than winning money. That’s why you need to control your emotions, losses, and winnings as well. There are some tips that might help you with that, so you should pay attention.
Bring with You Only the Amount You Can Afford
Never enter a casino after you received your salary and especially before you’ve paid your rent. No. Rule number one: always go to a casino with a previously set budget. That means the money you have set aside for emergencies or for stuff you need to buy for yourself. Never ever go to a casino with money you need to survive and cannot afford to lose.
You should always go to a casino with a clear assumption in your mind that you’re going to lose money. Now, that doesn’t mean that you will never win some, but it’s better to focus on the losing part. So, now that you know you will lose, think about how much you can afford to lose and let that be your limit and the total on your gambling bankroll.
You have the answer for the losing part. But what about the money you win? Does it go back to the slot machine? No, no, no. The money you’ve won goes home with you and out of the slot machine. You have to put some boundaries on that as well. The best rule to apply here is: as soon as you double your money, take the winnings and if you want to continue gambling, continue with the money that was on the bankroll before.
The good thing about the limits is that some casinos like casino.netbet.co.uk offer reasonable betting limits.
Let’s get back to the emotions. As we said, no matter how the game goes, there are some pretty big emotions involved. When you lose or win, you get either excited or angry. Either way, those emotions trigger impulsive reactions. Now, the best thing to do in order to control your emotions is to play slowly. Remember that the longer you play and the more money you lose, the more the casino wins. So, play at your own pace and try to control yourself. There are some testimonials which claim that the slower you play, the less you lose.
This rule applies no matter if you’re winning or losing. For example, you win one round and you instinctively want to play another one. What are the odds of winning again? Vague. Or, you lose one round and want to compensate for the money loss and you’re challenged to play again. Don’t. The odds are not in your favor.
Bottom-line, you need control. Control your feelings and your money by setting clear rules in your head and follow them to the point.