The jackpots are higher than ever.
Maybe you think that was a line said somewhere in Las Vegas in its heyday. Maybe it’s a clever pun about a casino on a forklift. You’re probably right on the first, though that’s not what we’re talking about today.
If you haven’t guessed it from the title, we’re going to be talking about Online Bingo today! The traditional game has been spreading like wildfire online, and even though Online Bingo has lasted the good part of the internet, it’s seen a resurgence lately.
Online Gambling as a whole has done very well through the pandemic years as people find themselves with more boredom, more time, and a dire urge to increase their number of revenue sources.
Bingo has been a particular winner of this boom given its low skill floor and recognisability, and today we’re going to teach you two key tips to employ on your Online Bingo games to help you be conservative with your earnings. What’s more, you can also grab a casino bonus at this link! With that, let’s get started with this article!
Contents
Other Online Advice
Now, we’ll be the first to say that many articles that encourage beginners to get into online bingo often tout the fact that we are in a golden age of welcome bonuses. These bonuses usually include free spins with wagering requirements, and it’s the proverbial carrot on a stick.
We’re not saying that the articles pushing free spins are necessarily trying to get you to spend more money on the casinos, but we’re not about that today.
This article will teach you an online bingo life away from the promotions and the wagers and will focus on simply getting better at the game. In fact, the less you wager and get sidetracked, the more efficiently your bankroll can be managed to turn a profit.
Managing your Bankroll
What is a Bankroll?
For new players, a bankroll is however much you deposit into your account on an online gambling website. The website or service then draws the money from your bankroll and credits your earnings to your bankroll. The website holds your money for you until you decide to withdraw it to an external bank account or wallet.
Depositing
Generally, with online bingo sites, there are many ways of topping up your bankroll from online wallets to direct deposits to credit cards.
The first thing to look out for is deposit fees. You can’t expect to make money if, from the get-go, you’re already paying a sub-optimal “entrance fee”.
Honestly, I wouldn’t want to be the sucker not using the option with the lowest, or better yet, no deposit fees.
Deposit fees offered can be either a percentage of the deposit, a flat amount, or none. When comparing between a percentage and a flat amount make sure to do the maths for not just what you’re planning to transfer now but maybe whatever you can afford to transfer at once. That could be three months worth of a bankroll, which would make the flat rate much better.
Bankrolling a few months at a time can also be good to hit promotional bonuses for deposit-based no-wager free spins. These are rare but some sites have them.
Withdrawal
Withdrawal fees exist. Many people might use a special wallet to deposit for the low fees but fail to consider if they even want to withdraw with the same option.
Some questions you might want to ask yourself include: Are there any good options for withdrawal? Do the options fit your needs?
Betting and Risk Management
Now that you have found the best way to put money in and take it out, it’s time to get playing. If you’re thinking that these are when the calculations end, you would be very wrong. In fact, deciding how much to bet, how much to spend to unlock promotions and how much to participate in prize draws is the most important factor.
There’s no use reading up on the best bingo strategies on picking rooms and cards if you’re an over-better and lose half your deposit in four days.
The key here is the golden rule: never bet more than 3%. Say your bankroll is just over £2000. This means every single session, which might mean two, three, or four tables, should not be more than £60. This might sound very conservative but keep in mind that this accounts for tilting and losses.
If you manage to flip the tables that night and double or triple your 3%, you’d have made 6% that night already. This might not sound like much but if you’re building up your bankroll and consistently winning, you’ll be surprised at how quickly it all stacks up.
Game Selection
Everything comes back to the bankroll since that’s what you’ll put down to win more. There are thousands of bingo sites, and it’s a buyer’s market out there, so do not rush this point. It is important for any game, let alone bingo which has so many permutations of rules, variants, game size and bet limits, to thoroughly research and plan your game strategy.
You should be going into a game having evaluated alternatives beforehand. One simple rule of thumb is as such: starting out, assume that you are going to lose more than win. To give yourself more chances to lose and gain playing experience, limit your entry fee to less than 10% of your daily bankroll.
Say if we refer to the previous bankroll number of £6000, then you should not be spending more than £6 on an entry fee. Putting more on the line is enticing since you’re already restricting your bankroll so much, but you will flatten your stack quickly and most certainly end the session prematurely.
You want to be playing for consistent and sustainable returns. This might not sound like your usual pump and pray strategy so synonymous with the glamour of gambling, but this is the way to play responsibly.
Conclusion
This article has been dedicated to the idea of “Playing for Free”. This idea has been popularised recently because the pandemic has left a lot of us with a lot fewer chips on our hands. Either that, or it has left us feeling a greater need to be financially prudent.
Online bingo is at the end of the day a game. Losing inordinate sums of money that have real-world consequences just after winning them the night before might be exciting on the way up but the crash will be devastating. Never play with any money you will need for any other use in the real world, and you will maintain a safe and healthy play space when it comes to any online game.
