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How to manage your bankroll when playing online slots

How to manage your bankroll when playing online slots

How to watch your money when spinning the reels of your favourite online slot games

It's easy to get carried away when playing online slots, one spin can quickly turn into ten spins, ten spins can turn into one hundred spins and before you know it, you've been playing for hours! 

All of the above is absolutely fine as long as you're well prepared and have a set budget and bankroll in mind. It's important to watch your money and stick to your limits. Our guide on how to manage your bankroll when playing online slots should put you in good stead for any future online slots gameplay. 

Set a budget before you begin playing

We certainly don't wish to sound preachy, but we here at Slot Gods believe it's absolutely imperative that players set themselves a strict budget before they ever begin playing their favourite online slot games. 

There's a lot of fun to be had spinning the reels, especially when those reels belong to some of the best online slots such as Dead or Alive 2, Immortal Romance Mega Moolah and Who Wants to be a Millionaire Megapays... Games that are not only very highly rated but can pay out life-changing sums of money.

But to be brutally honest, the fun dries up pretty quickly once you've exceeded your budget and you're entering your card details to top up your casino account once again, it might seem like you're extending your bankroll to extend the fun, but there are knock on-effects to think about.

Be strict with yourself, if you don't believe you can stick to a budget then set a daily, monthly or weekly deposit limit on your account.

Pick a slot with the right volatility for you

Volatility (also known as variance) refers to how predictable an online slot game is. Picking a slot with the right volatility is incredibly important, and not that many people realise it.

There are three distinct levels of volatility, each one suited to a certain bankroll or playstyle, these are as follows...

High volatility slots

High volatility slots are perfect for players that have a large bankroll to play with. This is because they do not pay out very often, so you should prepare to watch your balance drain for a while before a big win comes along restoring it (and then some). 

If you like the thrill of big wins and can afford to maintain long, arduous gameplay then go for these types of slots, if you only have a modest balance then the below options would be better.

Medium volatility slots

Medium volatility slots are unpredictable slots that could go either way... You could make 20 spins and win a small amount of money on almost every single spin of the reels. 

On the other hand, you could make 20 spins and only achieve one or two decent wins in total. These slots might not have the biggest win potential in comparison to high volatility slots, but realistically you should enjoy a fair few wins throughout the duration of your gameplay.

Low volatility slots

Low volatility slots are ideal for players that only have a small amount of money to play with. It's not as likely that you're going to win huge amounts of money, but you will see those little wins come thick and fast, and you won't necessarily drain your bankroll quickly.  

Be aware of RTP percentages

If you want to make sure you're not throwing away your money you should always take note of the RTP of the game you're playing. The RTP refers to 'return to player', this signifies the amount of money (as a percentage) that players can expect to receive back from a game. 

Most online slots have an RTP of 88% - 97%, with the industry average sitting at 96%. We here at Slot Gods recommend that players don't play games with an RTP below the industry average, as they won't be getting a fair deal... The only exception is to this rule is jackpot slots, which naturally have a lower RTP to make up for the fact that a portion of the player's stake has gone towards building the progressive jackpot total, and not to the casino.

In addition to the above, it's important to be aware of games that have RTP ranges. This is when the slot site has the final say over the RTP of the game, so despite being advertised as a game with an average RTP of 96.45% the site could be hosting a version of the game that has a much lower RTP. 

The only sure-fire way to confirm the RTP of an online slot is to load it up and read the game rules or paytable pages, as it should always be listed there.   

Knowing when to walk away

Just like everything in life, knowing when to walk away is incredibly important. These rules can apply to any form of gambling, whether that be online playing your favourite online slots, or in a physical brick and motor casino in your local town. 

Walking away up

The best feeling in the world is walking away from an online slot or casino game with more money than you started with. However, in order to actually walk away from an online slot in profit, you're going to need to have some restraint. 

It's easy to think that your luck will come in one big spell, but beware of gamblers fallacy... Luck does not last forever, if you've picked up some good wins and are happy, it's best to step back and enjoy your spoils.

Walking away down

Chasing your losses is the ultimate no no when it comes to gambling. Don't think about upping your bankroll and certainly don't think about raising the stakes... These are the sort of actions that can start a domino effect that will see you down and out with a lot less money than you previously had. Stick to one stake and your predetermined bankroll... It's much easier to wake up the next day after a small loss than it is after losing everything.

Being aware of the appropriate time to play online slots

Online slots should be played for fun, never as a way to make money. There's a lot of joy to be had in taking on board all of the above advice, finding a new online slot that suits your gameplay style and bankroll and getting stuck into the action well-prepared.

You should never play online slots as a coping strategy,  if you're stressed, unhappy or angry don't think a few spins on Gonzo's Quest Megaways will calm you down or clear your head. Go for a walk instead or talk to a friend or family member, do not play online slots! Online slots are a lot of fun as long as they're approached sensibly.