We hate to break it to you, but there isn’t a magical number or percentage that you should bet on online slots. It really depends on your playstyle, budget, and intentions for the session. Instead, in this guide, we’ve focussed on some handy tips and questions you can ask yourself to help you decide the right session budget for you. In this article, we’ll be taking a closer look at volatility, slot machine types, and bankroll management. To know more about what a casino bankroll is, check out our blog: Ask Genie: What is a Casino Bankroll?
Know Your Slot Machines
You shouldn’t rush your decision when choosing what slot machine to play. Yes, you can let aesthetics guide you, but you also need to look at the nitty-gritty to find the right slot to suit your bankroll and intended betting style. If you’re a casual player looking to get the most bang for your buck for example, then you’re going to want a slot with low minimum betting requirements, a low-to-medium volatility rating, and a fair RTP. (You’ll be happy to know that at Spin Genie we have some of the best low bet slot machines available). Of course, these factors should only be used as a guide to help you make an educated decision when deciding on your online betting slot machines, but remember at the end of the day whether you win or lose all comes down to chance.
How Long Do You Wish to Play?
Once you have a good idea of the kind of slot machine you’d like to play, you’ll need to think about how long you want your session to last as this combined with the nature of the slot will impact your budget. When preparing to play and bet on money online slots it’s vital you set a clear time limit for how long you’d like to play. This will stop you from spending too much time online, spending more than you intend, and allowing you to either ‘quit while you’re ahead’, or prevent too many losses. If it helps, one of the best things to do before settling in and betting on slots online is to write down your intended play time and budget on a post-it note and stick it to your monitor as a constant visual reminder, or you could even set an alarm.
What are Your Goals?
When considering your budget you should also consider your goals for your session. Are you wanting to spice things up with some higher stakes and increase volatility, or do you want to kick back and relax after a long day. Whatever your goal for the session, let this influence your budget, while of course, always spending within your means.
Bigger Payouts means Higher Volatility
Of course, you may think that the only way to go is to hunt down the big payouts, but you have to realize that these bigger prizes typically come from slots with high volatility ratings, which means you could burn through your budget much faster than you intend to. Let’s take a closer look at how volatility works.
Volatility is a phrase used in online gambling to describe the risk of losing a bet. In other words, it indicates how rare or frequently players may anticipate winning, as well as how large or small the prizes will be. There are three levels of volatility in slot machines: low, medium, and high.
Low-variance slot games offer more opportunities to win, but the jackpots are small, ranging from 250 to 500 times the stake. They aren't as thrilling as machines with increased volatility, but many gamers like them since they offer more consistent rewards. Medium-volatility online slot machines are a good middle ground between low- and high-volatility machines. Players can earn 3,000-10,000 times their initial wager on high-variance machines. They're also known as "high-risk" machines since they rarely pay out. However, once they do, lucky gamers can look forward to large payouts. Users with large bankrolls who have the time and patience to hunt for the jackpot prize prefer these games.
Manage Your Bankroll
Good bankroll management can really help you to maximize your budget and spend your hard-earned cash efficiently. Having a good bankroll management plan, such as budgets, play times, record keeping, and win/loss strategies can make each pound you wager work for you, as well as keep yourself within safe gambling practices. To find out more about bankroll management, read our handy tips and tricks for bankroll management.
Play Smart and Safe at Spin Genie
Remember, when it comes to it, the amount you wager on online slots is completely up to you, but we do urge you to always gamble responsibly and never wager more than you’re willing to lose. At Spin Genie you’ll find a wide variety of slots to play with varying features and volatility settings. Sign up and play today.