When playing bingo online many people do not set themselves up with a budget for playing the game. This is a huge mistake in my opinion; it will most likely lead people to gambling more money than they can afford to lose. This is something I don't want to happen to you, so here are my top tips for managing your bingo bankroll.
First of all, set yourself a limit for what you can afford to lose. Choose a limit for your daily loss, weekly loss and even total loss. Never gamble more than you can afford to lose and always stop when you meet your limits. Some people will have a massive limit of 5000; others will have a more modest limit of 50. Your limit should be based on your financial situation.
The next thing you need to do is set yourself a win limit. IE, how much do you have to win in a day before you stop playing? I have seen it all too often, people deposit 50 or 100 and run this money up to 500 or 1000. But instead of quitting and taking their winnings, they carry on gambling and eventually lose it all. Knowing when to quit is a massive skill and you can master this skill by making a decision to quit at a certain win amount before you start playing that day.
Just imagine how bad you would feel if you set stop loss amounts and stop win amounts and don't abide to them. Imagine winning a large prize and gambling it all away. It's not a pretty thing and you will feel awful for it. The best and most profitable gamblers are disciplined and stop when they reach their limits.
Another thing you should consider doing is setting up a bank account exclusively for your bingo bankroll. Some people like to play on a variety of websites; this is something we encourage because it will allow you to get multiple sign up bonuses. A great way of managing your bingo bankroll is opening a separate account for all your bingo money. That way you can cash out and deposit all your winnings from that one account. It will also stop you from blowing through your personal money. When you have all your money mixed in together it's easy to just spend some of your personal money that isn't allocated to bingo. This is something that you definitely don't want to do.
Finally you should look in to setting your deposit limits with the bingo site. Most bingo software programs allow you to set a maximum deposit limit. This is fantastic for those who don't have a lot of willpower. The site will stop you from playing whenever you go over your limits. This is fantastic for anyone who might not trust themselves to gamble only a certain amount.
Good luck at the bingo tables, remember to gamble responsibly and within your own self imposed limits.
