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How To Budget Your Online Gambling

How To Budget Your Online Gambling

Gambling has existed for a long time, but with the evolution of technology and the cybernetic era, gambling gives a big step to the future with online gambling. This modality of gambling lets people play any gambling they want, and also play wherever they want. It doesn’t matter if you sit on an island in the Mediterranean or a cottage in the alps. And when it is so easy to access online casinos it is very important to set up a budget for your online gambling.

If you want to gamble and try your luck, as for today you only need your laptop or cell, a connection to the internet, credit card or some form of e-payment account to start. You do not need to look at what are you going to wear, or how you are going to transport yourself to the casino. Online gambling makes it a lot easier to hit the slots and also offers you a huge gamma of different gambling. Online gambling has other kinds of games that the casino in real life does not, like the extremely popular slot Book of Dead.

The Downside of Gambling

But, there are some downsides. The worst problem of gambling is that we can lose control. It is very exciting to see the slot spinning and feel the excitement when the scatter symbols appear. 

“There is the first one…then the second one…then the third…and there is the fourth!! Bonus Mode! Let’s go! I am gonna be a millionaire!” 

Most of you all know the sparkling feeling that runs through your body when it happens.

Gambling triggers your endorphins and you feel a rush when you are winning. The mind tells you that you want to achieve this rush every spin or every time you gamble. This is right here where you need to control your emotions and have a gambling budget to not spending more money than you initially plan.

Set Up Your Online Gambling Budget

For this reason, you must set up a budget to not gamble away all of your money. If you do not have enough money to gamble for, you can not pretend to have it and most importantly, you can’t count on winning. There is absolutely no guarantees to win money on online casinos. Rather the opposite. 

To protect your economy, you must set up an online gambling budget that adjusts to your incomes or winnings. In this way, at the end of the day, you are not gambling away all of your money and online gambling will still be fun and exciting. 

The most important of creating an online gambling budget is establishing your limits, and avoid at all cost to go bankrupt. You must remember that the only goal for online casinos is like the physical casinos, they want you to spend a lot of money and forget about space and time. They don’t care if you go bankrupt. You must think wisely, and do not let your impulses and feelings control your gambling. To help you to avoid this kind of situation, we bring you a couple of advice to set up your budget and gamble responsibly.

Control Your Impulse and Emotions

One of the common problems people have is when they are losing. Because once they start to lose, they try to recover their loss. And they often want to do it fast! The way normal people do when they are trying to recover their loss, is to make bigger and bigger bets and in this way lose more money than they lost in the first place. We can all recall that behaviour. The feelings afterwards you have done this is not great at all. Shame, regret and failure to mention some.

For this reason, it is very important to keep calm and breathe when you feel the emotions are taking over. You must keep control of your emotions and not fall into bad behaviour. When you lose, forget it. F-O-R-G-E-T I-T. The money is gone. This is no sense to think about it because it is something already happened, and there is nothing you could do. Take a break, maybe a walk outside or call a friend to get some distance to the loss. If you decide to gamble more afterwards that, concentrate on your new session and do not lose your mind and control the situation.

This advice applies to both losses and winnings. Maybe one day you hit an insane big jackpot and think you are on top of the world. This impulse makes you do more crazy moves and hunt for more jackpots and big winnings. For this reason, you have to keep yourself focused and do not get carried away by the emotions of the moment. Think with your brain and be smart.

BIG WIN! 💰💰💰🤑🤑🤑

If you are winning big, we strongly advice you to do the following:

  • Cash-out all of your balance
  • Walk away from the computer or cell phone
  • Do something different than gambling

Then you wait for the money to arrive on your account. Transfer most of your winnings to a savings account, invest in safe stocks or bonds or some other kind of investment you prefer. The amount that you have left after doing this, let that be your gambling budget for the next months. 

Do you want to learn more about investing and stocks? Visit The Sunday Investor.

By doing this you get a healthy distance to the money you have won and hopefully you don’t see the money as “winnings” or “bonus money”. Instead you get a relation to the money as your own money and handle them with care.

Is it Possible to Set a Online Gambling Budget?

Creating an online gambling budget is as possible as you want. All about the budget refers to the limits you establish to do not make your money disappear in front of your eyes. By setting a budget, you can be in control of not losing more money than you initially plan to.

One of the keys to enjoying online gambling and feel the sweet sensation of a win is to create a gambling budget. This is going to respect the money of your necessities, like the money for food, clothes, rent, bills and more. In this way, you are going to know exactly how much money you can spend on online gambling.

You must be faithful to your budget. If you at some point are gambling away more money than you have set aside for your gambling budget and it is affecting your life in general you should be seeking help. At RGC you can find a lot of different help. On the website you also find this list if you are unsure if you are having gambling problems or not.

Know The Warning Signs of a Gambling Problem

âť” Feeling guilty, anxious, frustrated or worried about your gambling

âť” Thinking or talking about gambling more than usual

❔ Gambling to win back money you’ve lost or thinking that a “big win” is right around the corner

âť” Experiencing extreme highs from wins and extreme lows from losses

âť” Finding it difficult to control or stop gambling, or feeling irritable when you try to stop

❔ Feeling a sense of emptiness or loss when you’re not gambling

âť” Borrowing money, selling things, committing (or considering committing) criminal acts to obtain money for gambling

âť” Having increased debt, unpaid bills, or other financial troubles because of your gambling

âť” Gambling to escape personal problems or to relieve feelings of anxiety, depression, anger, or loneliness

âť” Gambling instead of attending family or other social functions or neglecting family or household responsibilities because of gambling

Source: https://www.responsiblegambling.org/

How Much Can I Gamble For?

This is very individual because we people value different things in life. What you should do each month when you get your salary or income is the following:

  • Pay your bills
  • Put away money for food and clothes
  • Invest a tiny amount each month

After you have done this, hopefully, there is some money left for gambling. Let these be your gambling budget for the month and these only!

Use Welcome Bonuses to Boost Your Online Gambling Budget

You can find a lot of online casinos here with great welcome bonuses. Use the bonuses to boost your gambling budget.

Two examples:

SCATTERS – if you have a budget of $25. They are offering you $25 risk free if you lose. It this case, you have $50 in your total gambling budget.

GoWild – offering you a 100% bonus up to $333. If you have a gambling budget of $300. Deposit those and you get $600 in total.

As always, be sure to read the T&C to get a hang of the wagering requirements. You find more of the best online casino bonuses in Canada here!

Do Not Spend All Your Money On One Big Chance

Having a budget is as important as knowing how to use it. If you decide that your budget is $300 and you do 15 spins or bets of $20, in a couple of minutes, you will have spent your entire budget. In this way, the emotion of win and gamble is going to be very short.

For this reason, it is better if you distribute your budget in bets or spins of less money, like $1 or maybe $3. Distributing your money is going to let you gamble more times and enjoy online gambling more often. Another strategy is to use the money that you win in your bets to include it in your bets. In this way, the point will come where the money in your budget is only your victories.

Enjoy Your Winnings

And if you win, you are hopefully going to be collecting a good amount of money, and there are two ways. The first way you can take is spending the money on your earnings to enjoy something you want, like buy shoes or go to eat in a restaurant.

The second way you can take is using part of the money of your earnings to increase your budget. But don’t forget, put away a large amount of the winnings first. The most important regardless of the way you choose is to keep control. You decide! Not the casino, slot or the dealer. It is YOU. There is no sense to spend all the money you win or earn by working on gambling.

By budgeting your gambling, you can enjoy the fruits of your gambling and keep doing it. The best of establishing a budget is that you are not going to lose more money than you can afford. The key stays in finding the perfect balance between the emotions of winning and the wise to administrate and follow your budget.