Playing slots online and offline can be tremendous fun, but it does require a degree of willpower when it comes to calling it quits. Slots, by nature, are highly addictive; and when things aren’t going your way, you can easily end up chasing losses or leaving the casino floor angry and out of pocket. Slot machines also have one of the highest house edges out of all casino games, primarily because the chance of winning a life-changing jackpot is around 50 million to one.
This doesn’t mean you need to stop playing or even be put off by the idea of playing, though, as there are numerous management tactics you can deploy to prevent overspending and help prolong your gaming sessions. While there are no guarantees they will help you win a jackpot, the following slots money management tips can make up a highly efficient slots strategy and prevent you from falling into some common traps that impact your bankroll.
Set a Budget and Stick To It
Managing your bankroll and what you can afford to wager is based on the same principle as keeping track of your household expenses. Of course, the difference is that gambling is a personal choice while paying your bills is compulsory.
In order to avoid spending more money than you can afford, make it a habit to keep track of your bets. When you see yourself approaching your loss limit, don’t be afraid to throw in the towel for the day and come back to it another time.
Study the Paytables
Every online casino game has a paytable. This information can be found in the “help” section of the screen of an online slot game and will detail everything you need to know about the game symbols, how many reels and paylines there are, plus the betting ranges, jackpot amounts, and the average RTP (Return to Player).
Familiarising yourself with this information not only maximizes your chances of winning a prize; it also gives you an idea of how much you can afford to wager and whether it’s worth pushing for the jackpot.
Use a Slots Bonus
If you’re an online casino player, you’ll probably be used to receiving bonuses by now. These are promotions that online casinos offer to attract new players and reward their existing customers. These deals can come in the form of a no deposit bonus, a match deposit bonus, no max cashout bonus, and many other lucrative types.
When it comes to slot games, the best possible deals you can claim are ones that include Free Spins, which essentially let you spin the reels in slots for nothing.
Note that most brick-and-mortar casinos do not offer bonuses for slots, but you may be able to hustle a free drink or a free chip to use on another casino game.
Practice Slots for Free
Another way to conserve your bankroll and manage your money better is to practice a casino game before you start risking your own cash. Even though there are no real strategies you can use to win at slot games, it’s important to remember that every game is different.
As a result, you will always have a slightly different layout, set of reels, paylines, bonus features, and rewards to play for in each one. Rather than immediately playing for real money and jumping in blind, it pays to test the game first to 1) ensure you understand the rules and dynamics of the game and 2) to make sure you actually like it.
Preserve Any Profits
Preserving your profits comes down to how successful you were in your session. If you did relatively well on the game, you’re free to use your profits how you see fit and either continue the game or hold onto what you’ve won. However, if you want to keep your finances balanced, it’s always recommended to keep in mind these following principles:
If you double your money – take your winnings and leave the casino.
If you break even – keep your profits and feel free to keep betting but stick to your original budget.
If you win half of your bankroll – keep hold of 50% and continue betting with the other half.
If you lose half of your bankroll - stop immediately or continue playing until you hit your loss limit.
Keep Emotions in Check
Gambling stirs up a lot of different emotions – you can feel absolutely ecstatic when you’ve won and irrevocably devastated when you’ve lost. Other times, you might feel nervous and on edge, angry, or excited. It’s near enough impossible to control these emotions, but you can regulate them better by becoming aware of them and your reaction to certain scenarios.
Both sides of the emotions spectrum can result in making a move that you’ll later regret, so make sure you’re always mindful of your feelings, achievements, losses, wager amounts, and wager frequency while you gamble.
How Much Can You Win on Slots?
How much you can win on slots comes down to what game you are playing and how much money you’re prepared to wager. As many slot games have a progressive jackpot, the only way to actually claim the game’s top reward is to bet the maximum number of coins the game allows.
If you choose not to bet the maximum wager amount, you can still potentially win a fair bit of money, but you may only be eligible to play for smaller wins. The best way to check the jackpot and wager amounts in a slot game is by referring to the paytable information. This will detail everything you need to know about playing a certain game, like the rules, symbols, prizes available, and the RTP.
It takes a lot of self-control to stick to bankroll limits, especially when you’re playing games as impulsive as slots. Even though it will take a bit of practice and determination to get better at money management, you’ll soon see how it can make your slot sessions much more rewarding and enjoyable.