“How to set limits on my online casino spending?” We’re glad you asked. Gambling should be a fun activity and fun shouldn’t come at the cost of your financial freedom or peace of mind. So here in this article, we have covered everything you need to know to make a casino a safe space for recreation and entertainment. We have compiled a wealth of information on responsible gambling, the tools and processes available for this purpose at online casinos, and the best strategies and advice from experts. Read on.
Responsible gambling tools
There are different responsible gambling tools mandated by gambling regulatory authorities which have been made available today at online casinos. They are pre-commitment tools that let you pre-set different kinds of limits in your casino account. They have one common purpose– to help you set limits on your casino spending. Let’s see what these tools are.
Deposit limits
Casinos have the option to let you choose a maximum safe limit on the amount you can deposit in your account. This can be a daily, weekly or monthly limit. This way you will be stopped early on in the track from going beyond your affordable threshold.
Wagering limits
A wagering limit is the maximum bet amount you can place in a particular timeframe. Set a wagering limit and the casino will pull the brakes for you on reckless spending without letting the thrill take over.
Loss limits
Trying to win back losses is the Achilles heel for even seasoned gamblers. You can be so lost in the game that you may not even realize how much you are losing. Set your loss limits for the day, week or month and save yourself from post-gambling guilt.
Time limit
Take breaks in between your sessions to break out of the gambling-induced trance. This will give you a reality check and the time to think over your gambling behavior so far. Once you set a time limit, the system will warn you at the set intervals. Don’t snooze it like your morning alarm and continue playing. Just walk away from your screen as soon as you see the popup.
Self- exclusion
If you’ve been gambling too much, it might be time to take a longer break. The self-exclusion program that online casinos offer will let you self-exclude yourself from the casino for 6 months or more. Or go to a third-party website that provides this service and sign up for the self-exclusion program. You will be denied access to your accounts across online casinos for your period of choice.
Other Tips to Stay in Control of Your Spending at Online Casinos
Setting budget before logging in
Casinos are a whole different world. They can make you step out of clock time and skew your perceptions. So decide how much you are going to spend before you log into your online casino account. You are more likely to make rational decisions before you enter the gambling space. Once you start playing, you may be tempted to go for a more lavish budget.
Allocating gambling budget from your income
To avoid emptying your pay packet every month into online casino accounts, you can use certain strategies and earmark a certain amount of money from your income to indulge in gambling and have fun. After all your necessary expenses, what amount can you set aside for entertainment or leisure? Allocate a percentage of this for gambling. 5% will be a good place to start with, the maximum being 10%.
Manage your bankroll
Don’t go about placing bets without any strategy. Not all games work best with the same bet size. Experts suggest keeping the limit to 1% of your bankroll when playing low RTP games like slots and up to 5% for games from which you can expect high returns. You will find more information online on the ideal wager for different types of games. This way you can limit your overall spend.
Avoid Gambling Under the Influence
Gambling when you are drunk is a bad idea. You are going to have no control over your casino spending.
Conclusion
Online casinos have a number of tools to support responsible gambling, like deposit limits, loss limits, etc. These are reliable tools all licensed online casinos are required to provide players with, to allow them to set their own limits on how much they spend. We have also discussed above some invaluable tips and strategies to avoid going overboard with your spending. By making use of all of these, you can keep gambling a fun activity, the way it is supposed to be!
