Slots might be great fun, but they’re ultimately as much a form of gambling as poker, roulette, or any other casino game. As such, while it’s easy to get caught up into the excitement of flashing graphics and cheerful audio, it’s key to set a budget before you start playing. Also known as a bankroll, your gambling budget determines how much you are willing to spend — and potentially lose while playing slots. After all, remember that slots are games of pure chance!
Don't know how to get started when it comes to setting your gambling budget? Then don’t worry, as you’re at the right place! Our full guide will tell you all about creating a bankroll, as well as provide tips and suggestions on how to stick to it once you start spinning the reels.
The Importance of a Gambling Budget Matters
You might ask why one should even set a gambling budget to begin with. After all, you have self control and know when to stop whenever you want, right? That might be the case, but there will be times when it’s easy to lose track of time and money. In other times you might decide that you’re on a losing streak, and just one more game will bring back all the cash you’ve spent on your favourite online slot game. This is when your budget comes into play.
Your gambling budget is based on how much you can afford to lose over a period of time, such as over a week or month. This is because, and this is a point we’ll insist on repeatedly, slots are games of pure chance that should be played for entertainment, not profit. Slots are ultimately designed with one winner in mind, and that’s the house. Having a gambling budget puts this point squarely in your mind, allowing you to relax and enjoy the slots for as long as it lasts. It’s a better and more fun way to play, as it allows you to think clearly about your choice of games, as well as easily track your spending without stressing over how much you ended up losing.
How to Create your Gambling Budget
Now that we’ve detailed the importance of having a gambling budget in place it’s time to explain how to create one. This is actually not too complicated, and we’re going to tell you all in a clear step-by-step manner.
1. Determine how much you afford to lose
The first and most important step in creating a budget is determining how much you’re ready to spend on playing slots. Don’t think about winning - on the contrary, assume that every spin is going to be a loss, and as such it doesn’t matter. This way you’ll have a hard limit on your spending. Of course it’s important to stick to this amount and not dip into other savings or accounts.
How do you determine the amount for your budget? That depends on your circumstances. Assess your income and essential spending, namely rent or mortgages, bills, food, transport, and saving. See what’s left and decide how much of that is worth spending on slots. As a rule of thumb consider your spending on gambling as another form of entertainment, and as such part of disposable income that will not bring you a financial profit.
2. Break down your budget
Once you’ve decided how much you’re going to spend on a set period of time, the next step is to decide how much you’ll spend per session. Let’s say your weekly gambling budget is £50. In this case you may decide that you’ll spend £10 or £5 on each slot session. How will you make your bankroll last longer? Simple - make the smallest bet the game allows, which is generally £0.05. Remember you’re playing slots to have fun, not to make a profit!
3. Track your wins and losses
Speaking of budget breakdowns, it’s always worth tracking your win-lose record as you play. This won’t help you to win in any way - as always, slots are wholly random games with no such things as hot or cold streaks - but will aid you in dividing your bankroll even better. This will also provide insight into how long you’re playing, and whether it’s too much.
4. Set a time limit
A great addition to your financial gambling budget is one for your time you’ll spend playing. Time can fly when playing slots online, and the longer you spend spinning the reels the greater the temptation to start dipping in other funds beyond your set bankroll. Decide how long you’ll play before you start, be it 10 minutes, an hour or a couple of hours. Online casino sites can help you with this as they allow you to set time limits and reminders. These are available through the Responsible Gaming tools typically found in your profile page.
5. Stick to your limits
By this point we’ve set both financial and time limits to our slot gameplay. Now here’s the hard part - sticking to them no matter what. Resist the temptation of topping up your budget “just this once” or playing for longer than allocated. This is, admittedly, far easier said than done, but discipline is ultimately required. If you find yourself exceeding your limits anyway then it’s a sign that it’s time for a break, something you can enforce through the self-exclusion features your casino site should have available.
6. Use Responsible Gambling tools
Last but not least, your online casino is obliged to offer a full set of Responsible Gambling tools. These include limits on deposits, losses, and time, as well as self-exclusion and reality check features. You can also contact Customer Support at any time you think you’re suffering from problem gambling.
Budgeting Keeps Gambling Safe and Fun!
Setting a budget for playing slots might sound like a no-brainer, but it’s key to keep gambling fun. It allows you to experience the excitement of slots without the risks these can bring. No need to worry about potential overspending or chasing losses, just walk away once you reach your budget’s limit. Remember that gambling should be considered as a form of entertainment and now a way to make money. There’s just one person that constantly makes a profit from casino games and that’s the house!
So enjoy slots responsibly with a gambling budget in hand. It takes just a few minutes to create with our Slingo guide, and your wallet will thank you for it!
