Join RankingHero to follow zorges Share:
zorges
Follow

What about you?

Join RankingHero to discover your Heroscore!

zorges

is a little known poker fan and decent contributor

Poker Score: 0

Popularity: 1,123

Contribution: 11,714

12,837
Distinctions
1
Passionate
1
Impeccable style
1
Hoodie Man
1
Friendly
1
Professor
About zorges

Biography

Hello Everyone

Well I work in Marketing field, I can't say it's very exited but it's ok :)
Because of my work I have to spend a lot of time in the office ....
since work is not that hard or crazy I have a free time on my hands, at first I was playing some timekiller games online but than I
got addicted to online gambling,
it's not that I'm loosing money or something like that, sometimes it's more opposite of It and I manage win them :)
my favorite game is online poker I discovered that there are lot of sites offering different types of bonuses and jackpots
so to stay informed I recommend to pick a good site where you can read all the information you need,  
I for example use guides, you can get here everything you need about online casino games

Good Luck

Last followers / following
Follow

How to Manage Your Gambling Budget

Online casinos are a great form of entertainment. They allow you to play games and enjoy yourself, while also giving the opportunity of winning a life-changing amount of money at any given moment. Though, what always needs to be remembered is that when you play at an online casino, you’re spending real money.

Many people play at online casinos, like the famous 888 website and real casinos for fun, and there is nothing wrong with that at all, it’s a great form of entertainment unless you want to land in some hot water you need to know the need of gambling sensibly. The way to manage your money is just to set aside what you can afford, and if you are unlucky enough to lose it, then is the time to stop playing. Of course, you might be lucky and win, and you should treat that as a bonus and use your winnings to treat yourself and maybe your associate or friends to a treat, take them out for a meal or pay for an evening.

It can be easy for casino new and seasoned gamers to dive straight into the games, then get caught up in playing, and only after realizing they’ve spent much more than they planned to. We don’t want to destroy anyone’s vibe, and we don’t want to sound like irritating parents, but we do want to make sure that all the players know how to stay safe, play responsibly and manage gambling budget.

That’s why we think it’s essential to understand how to manage a successful gambling budget plan and stick to it! In today’s article, we’re sharing tips and tricks which should help you control your spending, while still benefiting from all the fun the casino has to offer.

  1. Make a Plan

Of course, the first thing you need to do to make sure you can stick to a gambling budget plan you created. Making a strict plan allows you to be in control of how often you’re playing and how much you’re spending each time you do. In turn, this permits you to manage your general funds and make sure that you’re gambling lifestyle aren’t going to affect other areas of your life.

To make a successful gambling budget plan, you need to be realistic. Look at your income and your outgoings and choose what amount of money you can sensibly dedicate to depositing at a casino. It’s no use setting yourself a budget that’s higher than what you can afford, as this will only lead to problems down the line. On the other hand, if you set your budget too low, you’re going to end up spending more than you promised and then feeling sorry about it.

  1. Always Gamble On a Budget

Regardless of whether you made a plan for gambling expenses you should always plan for how much money you are willing to spend on gambling. If you have $1000 in your discretionary funds and you can afford to lose $200 at the casino, set that as your budget.

But the neat thing about a budget is that it works both ways. Not only do you plan what goes out, but you also prepare for what comes in. When you sometimes gamble you win. What should you do with your winnings?

Most people will possibly never get or stay very far ahead, and about 80% of us are okay with that. To us, gambling is fun similar to amusement parks, or concerts. All of these things cost us money, and we have good times spending that money, but we don’t come back loaded with bags of riches.

Nonetheless, what should you do when you suddenly win a few hundred or even a few thousand dollars?  Your budget should tell you where to put that money.

  1. Make Use of Depositing Limits

If you’ve made your budget plan, but you’re not convinced of your, then making use of pre-existing deposit limits is the next step. Every casino you visit will impose some daily depositing limit on its players. Though, these are typically set quite high because they’re more to do with the payment method than they are to do with making sure that players don’t spend too much money.

Some casinos offer their players an option of setting their limits on how much they can deposit per day. Once a deposit limit is set, they won’t allow players to fund your account with any more money until the next 24 hour period, so it’s an iron-clad way of making sure you don’t go over budget.

Another way of making use of existing depositing limits is to opt for payment method which only allows you to transfer so much money per day. Pay by phone billing services, like Boku, have a strict $30 limit for all players. This was put into place to make sure that users can’t rack up too much debt over the course of the month (as you only pay for your deposits once you get your monthly phone bill), and so it’s the perfect way to control excessive spending.

  1. Limit Your Time Spent Gambling

Another great way of managing how much you spend at the casino is to limit how much time you spend playing. Of course, for gaming fanatics this is easier said than done but believes us, it works! Set yourself a time limit for playing based around what you can afford. It may be that you only play for an hour, as opposed to several, or that you play for half an hour each day, instead of your usual nightly session.

Limiting your time automatically limits your spending, as once the time is up, you can’t play anymore! If you’re worried that you may forget what time you need to log out by, set an alarm clock when you start playing. Unlike the other methods, though, this way of budgeting requires a lot of self-discipline.

It’s all too easy to ignore the alarm, or excuse five extra minutes when you’re on a winning line. If you think you’re in a position where you think this will work for you then great, but if you think you may not be able to be strict enough on yourself, then use this method in conjunction with the others.

  1. Leave Your Credit Cards at Home

Every casino has at least one ATM. And you may be able to withdraw money from your credit cards through the cashier. Don’t do this.

Never borrow money to gamble with because despite whether you win or lose you have to pay that money back. Adding debt to your fiscal portfolio hurts your credit. Worse, it changes how you must assign your financial budget. If you’re just barely putting anything back for gambling fun then borrowing money may result in your having to make minimum payments that are higher than what you could earlier afford to set aside for gambling.

If you are going to make payments to anyone for gambling expenses, then make them to yourself via a savings plan, even if it’s just putting $20 into an envelope in a shoebox in the back of your closet once a month.

By the same token don’t take out lines of credit at casinos or with personal finance companies. Signature loans are the gasoline you heap on the flames of bad money management. Your only creditor should be your self-financed gambling fund. Borrow from that and nothing else.

  1. Only Take a Debit Card

You cannot use an envelope stuffed full of $20 bills to fund an online gambling account, but you can use electronic funding options. You can load money into this payment processing accounts or buy Bitcoin with a debit card. By the same token, if you are willing to pay the ATM fees, it’s okay to take a debit card for your dedicated gambling bank account to the casino with you.

As long as the money you pull out of the bank was only ever planned for gambling you can do what you please with it. Just don’t take your household account’s debit card into the casino with you. Don’t use that account to fund your online gambling.

You have to be disciplined about managing your money. As mentioned above, it all comes down to your self-discipline. You can avoid all your self-imposed controls and safeguards but be making it difficult and dull to do so is a great way to protect yourself.

  1. Never Spend Beyond Your Means

One of the most important things to remember when gambling, whether you intend to stick to a budget or not, is to never spend beyond your means. This means that you should never be paying more than you can afford, or that you have in your bank account!

Never borrow money to gamble, never spend on a credit card without knowing you’ll be able to pay for it at the end of the month, and never use Boku deposits if you’re unsure that your phone bill can be paid.

We know that we’re verging on sounding preachy here, and let’s be honest who’s not borrowed a few quid from their mates when they’re skint, but this is solid advice. The beauty of gambling is that you never know when you’ll win or lose money, yet when you’re playing with someone else’s, then this request can become a nightmare very quickly.

  1. Only Play Low Limit Games

You may have dreams of being a high roller, but before you reach that stage in life, you should leave yourself to the kingdom of low limit games. Assuming you are good enough to roll your money up in poker, blackjack, or even slot games you should not jump into high stakes gambling just because you got lucky.

Professional gamblers may work with investors who fund their activities. Just because someone is a “pro” doesn’t mean he is living high on the hog from his winnings. For true lone wolf pro gamblers, there will be times of feast and famine.

Most of us will do just fine by playing low limit games. We don’t plan to become professional gamblers, and we don’t need to take on that kind of risk. Remember that other gamblers fund every jackpot and the big payoff. And when you see someone win $500 at the high roller slot game, ask them how much money that prize cost.

  1. Study the House Rules on Table Games

When you sit down at a blackjack table, do you know what the table minimums, maximums, and special rules are? The casino displays them on a sign or card on the table. But many players, especially when they are tired or have had a little too much to drink, pay no attention to the house rules. You may be politely reminded by the dealer you are trying to play by the wrong standards.

Conclusion

Although gambling is fun, it has evolved into an industry where the primary goal of every business in the industry is to make a profit. There are no non-profit casinos, and if there were, they would still have to keep some of the players’ money to pay their expenses. As long as you treat gambling like an expense and budget for that expenses carefully, you should be able to enjoy gambling for a lifetime without hurting your finances or risking your retirement.

The ideal gambling budget is the one you don’t need to achieve your lifetime financial goals. If you win when you gamble, you still need to manage that money. But the essential part of protecting yourself when you gamble is to set realistic expectations and limits you can live with. Do that, and it won’t matter if you win or lose; all that will matter is how much you enjoy the experience. Discipline and control are what separates the winners from the losers. If you don’t learn how to manage YOUR money, the casino will do it for you once it becomes THEIR money!

zorges just reached the level 2 in Businessman Habitat!
What about yours? Check it out on your About page!

http://www.seenit.co.uk/mike-myers-from-waynes-world-to-1970s-new-york-and-now-a-hit-tv-game-show/

Share