There is a fascinating film on YouTube that talks about the “Seven Sins of Financial Management”. You can find the film at the Better Man Project. What we found so fascinating is that the same areas that the film spoke about as “sins” in financial management can also be connected to “errors of judgment” in online gaming.
We’ll state all of the so-called sins in the short clip as positives because we see playing online casino games as a largely positive pastime so long as we all follow a few simple good practices.
Online casino gaming should always be an entertainment. It should not be seen in the same category as investing for your future. Just as you don’t save for the future when you buy a ticket to a show, you don’t save for the future when you play casino games. You do it for fun.
Proper financial planning makes you wealthy in the long run. Proper bankroll management leaves you enough money so that you can manage your long term finances with the intention of becoming wealthy in the long run. So, here are a few good points of bankroll management that we adapted from the YouTube film we mentioned above.
Plan Your Bankroll
Many online casino gamers get going before they have decided exactly how much money they have in their bankroll that day. Planning your gaming budget is a very serious first step to playing online casino games for the maximum enjoyment. Every gamer has his or her unique financial status. Each of us knows how much we are willing to spend on a vacation, a movie, a concert, or a restaurant meal.
We should all apply the same attitude to our gaming experience. If we can spend R1000 on gaming, then we should set that as our bankroll for that gaming session. Often, gamers add to their initial bankroll trying to win more or recoup losses. We suggest that once you’ve decide on your starting bankroll, you should stick to it.
Make Sure that You Can’t Add to Your Bankroll
Most gamers use their credit card to make deposits. Some use ewallets, debit cards, or direct bank transfers. The key element in this category is that you should find a way to make sure that you can’t add to your bankroll. For some, that means using a debit card or a pre-paid card. For others it simply means making a solemn commitment to yourself that you won’t add to your bankroll during that gaming session.
Save Some of Your Winnings
Good personal financial planning requires that we all save some given percentage of our monthly income. By investing this money wisely we strengthen our long term financial position for the time still far off in the future when we will no longer be able to earn the income we have today.
In a similar vein, when we save some of each winning hand at blackjack or spin in slots or roulette, we are actually conserving our bankroll. Online gaming is one of the few ways we can actually save whilst being entertained. So, we urge everyone to save a little from each win. In the long run, you’ll see great benefits from doing so.
One of the biggest mistakes gamers make is to use winnings as the natural method of growing their bankroll. We can’t do anything about a slots spin that loses but we can conserve our bankroll when we save some of every winning spin.
Try to Have Fun at All Times
This is actually easier said than done. We all know how our emotions rise and fall when we watch a rugby or football match on television. Cricket is less emotionally fraught than the other two because it unfolds so slowly. We experience emotional peaks and valleys when we play casino games as well. The best way to keep an even keel emotionally when we play is to see online gaming as a pure entertainment.
When we go to a concert, we might not like every song sung but we don’t let it get us down. We know another song that is far more to our liking is coming up. The same happens when we go to a stand-up comedy performance. We don’t laugh at every joke. But we enjoy the overall performance.
The same holds true in gaming. We don’t win every hand. We might lose a few hands in a row. Just as we don’t leap for joy when we win a few hands or spins in a row, we should keep our emotions in check when we lose a few in a row. By doing so, we allow ourselves to enjoy the gaming session as a whole.
In financial planning terms, that means learning about the many ways to invest savings. In online casino gaming terms it means learning the exact rules of every game, the terms and conditions that govern every promotion, and so on.
Here, at Springbok Casino, we feel so strongly that you should know the rules of every game before you play it for real money that we allow unlimited free play and we have a large section on gambling tips and strategy. We want you to know exactly what you’re doing when you play.
We try to write the terms and conditions in the simplest language possible. When we run a promotion or offer a bonus, we want you to know exactly what you’ll be getting for joining up.
Education is a very big part of having fun whilst gaming.
Pay A Lot More Attention to the Fun and a Lot Less Attention to the Money
Of course, you should follow all the above bits of advice and they do involve paying attention to the money. But we should play the games as a pastime, not as a way to get rich. If we focus our enjoyment on winning money, we might be disappointed in the end. We would lose the fun side of gaming.
By following all of the pieces of advice cited here, we maximize the fun side of gaming and we have always felt here at Springbok Casino that the fun side of gaming is by far the most important aspect of it.