Dailycasinobonus’s Guide – Online Slots Money Management
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Online Slots Money Management
One of the main reasons why online casino players (and slots in particular) end up losing at the casino is the lack of planning and managing the risk of their money.
In fact, in games like slot machines, managing and closely monitoring your account balance is super necessary – because in slot machines a larger number of actions are done, without thinking, and in a short period.
That’s true: no player can know for sure when a win or lose will occur. However, with proper money management, the chances of success increase significantly.
We’re here to talk about how online slots players can significantly increase their chances of walk away with a profit from online slots games.
Increase your chances of success using the 3 Pockets method
Money management may not sound like much fun, but if you think about it as a tool to help you make a profit from the casino – is there a more fun feeling than making a profit from an online slot machine? Of course not!
The 3 Pockets method is one of the best risk management method online slots players can use.
As the name suggests: there are simply three different pockets which separated from each other- Pocket 1 is your bankroll which is the total amount of money you are going to put in risk and play with on online slots games. Pocket 1 will only be used to put money into the slots games; in other words – you won’t withdraw or move any amount from this pocket.
Pocket 2 is your gains pocket – any amount you won through the session goes into this pocket, no matter if you won £0.5 nor £1,000, it all goes in Pocket 2.
Important note: no matter how much money you’ve gained in Pocket 2, you won’t use the funds there until Pocket 1 is empty.
Pocket 3 is your savings pocket or in other words – this is untouchable money that you’ve put aside, and you’ll walk away with from the casino.
So how does the 3 Pockets method goes?
So after learning about the method, let’s see how you can easily apply it when playing online slots games.
Right from the start – set a specific amount that you are going to play with, this amount goes to Pocket 1. Let’s say it’s £200, and you’re gambling with those £200 if you lucky enough to gain any return back – you put those gains in Pocket 2.
Important note: Even if you did win and gained more money than you started with, it does not mean that pocket number 1 has increased (because of the winnings).
So, if you played with £20 and wins £10 back, Pocket 1 has now £180, and Pocket 2 has £10. If you play that way until Pocket 1 (which is the only pocket you use for playing) will run out of funds – considering that you will continue to earn the same percentages as in the example – Pocket 2 will end up having £120.
Once Pocket 1 funds run out, you should split Pocket 2 between both Pocket 1 and Pocket 3. We will divide it this way: at least 15% of Pocket 2 will go to Pocket 3 – remember: these funds are out of use in any case.
After moving the money both to Pocket 1 and Pocket 3, our new position looks like that:
Pocket 1 – £102
Pocket 2 – £0
Pocket 3 – £18
That means we’re now sure to end up with something in our bankroll, which means even if we keep losing the same percentages as in this example, we will still keep 15% from the initial amount.
Our goal using this method is to place a safety net so that even if we have more losses than wins, we will not lose our entire bankroll.
So where do we profit you ask yourself? Well, here’s the interesting part: if we were lucky enough, sometimes we would win a larger amount, unlike the example above (when we take £10 back of every £20 bet), and we would earn more than we risked.
In this case, we will continue to act the same according to the method – we will take 15% off the winnings (Pocket 2), and only once Pocket 1 is empty, we will split it once again.
Once our victories grow, so does the amount set aside for savings (Pocket 3).
Remember: this method only teaches us how to manage our risk and money. To take it to the next level and try and make money – we will need to use strategy.
One familiar strategy is called the Moving Down – this strategy will help you keep playing online slots without risking too much, as well as increasing the chance of ending up with a profit.
With Moving Down strategy, you want to start with a little higher stakes than usual (but not too extreme, make sure you feel quite comfortable with the size that you play), £5 a spin for example.
Choose your total budget, for example – £300, and split it in half. Put £150 in Pocket 1 and the rest (£150) in Pocket 3 for later, and start playing your favourite online slots game.
Remember to move each of your winnings to Pocket 2. When your funds at Pocket 1 are empty, calculate both Pocket 2 and Pocket 3 funds, if your bankroll ends up being higher than your initial amount, you can keep playing with the other half (Pocket 3), and yet don’t touch Pocket 2.
If you ended up with less then your initial amount, you could use some of the Pocket 2 gains, but at the same time move down to a lower spin amount – £2 for instance.
If you move down, you take your winnings (Pocket 2) minus Pocket 3 and roll them back into your playing pocket (Pocket 1) to create a brand-new bankroll.
Now you start over by taking about half of that and making it all over again at the £2 spins. If you were lucky enough and ended up having more money than your initial amount (which is £300), then you can move back up to the higher spins – we highly recommend not going about £5 a spin.
With all due respect to strategies and methods, no method guarantees a sure win or win at all. Also, one of the most significant actions that will determine whether you will lose or win from an online slots game is – know when to stop.