8 Ways to Better Manage Your Bitcoin Bankroll!

Manage Bitcoin Bankroll

Successful gamblers are not born, they are made. Part of that making is learning the painful process of self-control at the casino. We all want to be successful every time we gamble, but this simply will not happen. So, instead of learning how to win every game, its best to learn how not to lose too much every game. 

Reckless spending at casinos is a problem that many gamblers face. The thrill of the chase often gets too much, causing much heartache at the end of the day, in many cases. A key to lessening your losses and keeping you in the game long enough to win, is to learn some vital Bitcoin bankroll management tips before you roll. This sort of responsible gambling strategy puts you in good stead to enjoy your gaming experience. 

Bitcoin is very valuable, so if you are going to gamble it, its best you do everything you can to insure that you have the best chance possible. Below are some things you will need to know to get started: 

1. ATTITUDE TOWARDS GAMBLING 

The attitude in which you approach gambling will initially either set you up for a night of fun, or a night of frustration.  

You need to be sober minded going into the game. Casinos are business and like any business in any industry – they are there to make money. You need to realise going into this that the casino has the greater chance of coming out on top, NOT YOU.  

The stakes are stacked against you from the time you register your account. So, if you play for the mere entertainment of it, your mind-set is correct. Do not play with the intention of making money. 

2. AFFORDABILITY PLANNING 

You must plan and budget your Bitcoin out and set apart a set amount to be gambled with. Do not use it all. The amount that you apportion out must be coinage that you are prepared to lose. If you cannot afford to lose the Bitcoin, do not gamble with it. 

Once the budgeted amount is clear to you, break it down and set aside certain portions for when you plan to play in the month. If you want to play once a week, don’t use next week’s portion today because you lost it all already.  

3. CHASING LOSSES WILL SINK YOU, SO DON’T! 

Do not change your style of play based on panic. If you find yourself on a losing streak, rather than upping the bet to try and recover more winnings, change the game you’re playing. If you are playing slots, sometimes it helps to change the pace and play a bit of roulette or blackjack. The house edge is much lower in these games and you may find that you are able to grow your roll again. 

4. UPPING THE BET 

Though it should never be done with a mind-set of panic, there are times where you will need to up your stake. The last thing you want to do is hit the jackpot on the minimum bet amount. Fluctuating your bets is a good practice. Play high for a few spins, then play low. Perhaps you will hit a big win on a good solid bet! 

It’s best to probably start on a lower stake and then once you have a few wins behind you, increase the bet steadily. This way, if you hit a losing streak you will only take your money back down to the original amount. 

5. BANK WINS  

If you find that you have made a nice few wins, rather bank those wins and request a withdrawal. This way, you won’t be playing back into the machine. 

Another option could see you bank your original deposit and use your wins to carry on playing. This is of course if you have made enough off the games to do so. 

6. KNOW YOUR SKILL 

If you are unsure about any of the games at the online casino, do not bet real funds on them. Rather play them for free first and familiarise yourself with how they work. 

It’s advisable to learn how to play games with lower house edges, if you want to slowly grow your bankroll. Playing the outside bets of Roulette give you pretty good odds and blackjack offers you the best odds of all casino games.  

Baccarat is pretty simple to play and also has a favourable edge. Slot games have some of the worst return to player ratings and we advise playing these only if you can endure losses for the sake of the entertainment. Of course, there are decent jackpots up for grabs with slots, but on the whole table games will probably bring far more joy. 

7. MAKE USE OF BITCOIN BONUSES AND PROMOTIONS 

Using casino bonus offers is a good way of maximising your play time and your bankroll. You now need to play far less of your own funds, yet you get to enjoy all of the entertainment. Deposit match bonuses in Bitcoin are usually far better than those offered in normal fiat currency platforms. The current sign up bonus from VegasCasino.io is a clear example of the great bonuses available out there. 

Take note that there are wagering/playthrough requirements that must be met before you can withdraw funds, so be sure of these terms before claiming the promo. But, at the end of the day free money is free money and if you have the patience to work through the wagering terms, it’s worth it. If you lose it, well it wasn’t yours anyway, but if you win, you truly have struck a bonus. 

8. SELF CONTROL IS THE LEADING FACTOR 

If you are short on self-control, then pick another hobby and leave gambling far, far behind you. It is the key to not sinking at the tables or the slots. You must be able to stay in control of your gameplay and have the strength of character to know when enough is enough and stop playing. 

Stay away from things that dull your inhibitions when playing. Things such as alcohol are not recommended in high doses while gambling! 

IN CLOSING 

Make sure that you have fun while playing. The moment that the game becomes a burden, stop playing! 

Following some of the points ahead are only the start to responsible gambling, but are bound to start paying off from the get go. Remember that your Bitcoin is worth a lot and is a precious commodity, so do not waste it, simply enjoy it!