New gamblers usually feel thrilled and excited. They are attracted by this unknown bright world which promises easy money. That is why they often forget about the basic principles that prevent them from spending too much and getting into debt. If you don’t want to repeat their mistakes, you might find the budgeting tips below very useful.
1. Start with low-deposit casinos
If you have never gambled before, a fast payout online casino with a low minimum deposit requirement is the right place to be. Thus, you won’t have to spend much and will get familiar with a gambling site at your own speed. $1, $5, or $10 deposits are considered a low amount that minimizes risks and lets players learn about the brand, bonuses, and games even with a limited budget. There are even no deposit casinos which allow playing a few rounds without any money.
2. Set gambling limits
Those who want to make gambling a long-lasting and successful hobby should know exactly how much money they are ready to spend. And stick to that amount no matter what. Your budget shouldn’t be too strict because this might tempt you to bet more money than expected. At the same time, it mustn’t be too broad not to occupy a big share of your monthly budget. You can also set duration and loss limits that will help you avoid gambling addiction in a long run.
3. Distribute your bets
Let’s say that you have a $100 gambling budget. There’s no point in making $10 bets because thus you will only have 10 attempts to win. Instead, choose casinos and games where bets start with several cents which eventually give you hundreds of chances to play. The best category in this regard is surely slots. There are pokies with 10-cent bets and a progressive jackpot which may award you with thousands of dollars without spending much.
4. Don’t play with borrowed money
Another golden rule of gambling budgeting is to play only with your own money. If you are running out of funds, it is better to postpone new bets than to ask your friends for money or use a credit card. By the way, since April 2020, UK players can’t use credit cards for gambling. This measure allows keeping up with the budget and knows exactly how much you have spent. If you worry about exceeding the budget, choose prepaid cards with a fixed balance.
5. Track results
We advise all players, not depending on whether they play at a desktop or mobile casino, to note down their gambling results. Wins, losses, session durations, games, and so on. This helps to identify patterns and see whether you are doing everything right. Records can be done either on paper or on your smartphone, laptop, or tablet. There are also many tracking apps for iOS and Android devices.
6. Set clear goals
Gambling is designed for fun and entertainment but if you want it to become a success in the long run, you should understand why you are playing for. Understanding the goals helps to structure the hobby, improve skills, and even make more money with gambling. Simply write down a list of earning goals right next to your gambling budget and always keep it nearby.
7. Control your emotions
Many people believe that gamblers are not the best at controlling their emotions which results in overspending, a spoilt mood or even a broken keyboard. Learning how to cope with a big number of various feelings will greatly contribute to your positive experience. There are many ways how punters can control their emotions and avoid rash decisions. For example, identify your feelings and accept them, keep a mood journal, use breathing techniques, learn to express yourself, and spend some time alone.
Budgeting – a pillar of positive gambling
Even if you can’t wait to register at an online casino and start spending your money, avoid the temptation and start with the basic budgeting tips discussed above. Knowing them will help you stick to the budget, minimize risks, and get the best possible experience. For more information on safe and responsible gambling, read other guides written by Grace Tennet at NZ CasinoHEX.
