Maintaining Your Gambling Budget – Playing it Smart in Online Casinos
Online casinos can be a lot of fun, but if you’re a problem gambler – they can also cause financial turmoil. The best way to avoid becoming a problem gambler is to address the problem before it even begins. There are many things you can do to avoid overspending on your favorite hobby – keeping your favorite games most enjoyable and without causing you financial loss.
(a) Set a limit on how much you can spend. Whether it’s a daily limit or a weekly one, it’s important to set an amount for spending in online casinos – and under no circumstances should you ever go spending beyond this limit. One good rule to follow – don’t spend any of your money that needs to be distributed for bills – only use the extra money available from your weekly income.
(b) Don’t try to make an income from online casinos. This goes hand and hand with the first guideline. If you are trying to substitute your income by playing in an online casino – you are making a big mistake.
Playing more doesn’t necessarily mean you will be winning more. And what happens if you’re on a losing streak and you need to make tomorrow’s electric bill? It’s not a good idea to keep playing at the risk of losing more money for hopes of winning. If you’ve spent more than you’re reasonably set daily limit, it’s time to walk away.
(a) Set up a recreational bank account. Set up a bank account separate from your main account which is used for bills and expenses. Each week, deposit the amount of money you have extra to spend on your hobbies for the week into your separate bank account. Make sure that the online casinos have no ties to the main account that you’re using. This is a great way to avoid spending too much money and only realizing it when you go to pay your bills. This is also a great way to stick to your daily or weekly spending limit.
(b) Avoid reverse withdrawals. Reverse withdrawals allow your cash out money to sit in a pending state for what can be a long time and allow you to put your winnings back to play at any time before they post to your bank accounts. This makes it tempting to play over your limit. It’s best to wait for the money to post to your bank account or to avoid playing in casinos which offer reverse withdrawals altogether