As soon as you sign up to an online casino one of the best things you can do to limit your losses would be to set daily, weekly or monthly limits. Online casinos must have these useful settings available to prove that they are actively promoting responsible gambling. You need to login to your account and then go the My Account area of the casino, or to the My Settings/My Preferences area. If you can’t seem to find out where this particular area is you may need to contact the casino’s player support and get them to point you in the right direction.
We also recommend adjusting your stake as soon as you launch a game, because the default minimum stake may be set to a value that may be slightly higher than you can afford. You will also find that when you launch games at most of today’s online casinos you will be able to set a session time limit or a win/loss limit.
Key tips to follow to limit your losses at online casinos
- Players can set limits to help reduce online casino losses.
- You can set session time limits, win/loss limits and/or deposit/spending limits.
- Never try and chase your losses when gambling in the real money mode at online casinos.
- Set as many different limits as possible from the moment you sign up to a casino.
- Try to set sensible limits that correspond to your bankroll.
- Never deposit more than you can afford, especially if you really can’t afford to lose.
- The player support at online casinos can easily be contacted and they can usually help set these limits for you.
More info about how to limit your online casino losses
Unlike land based casinos which have very few ways to help limit your losses, there are lots of useful settings and features that can help you limit your losses at online casinos. The best thing to do would be to set these limits as soon as you sign up to any of our top-rated Australian online casinos to limit your losses from the very first time that you start playing in the real money mode.
If you head over to the My Account area when signed in to your account you can generally find a wide range of adjustable limits. You may need to click on the Responsible Gambling button to find out how exactly to set these limits. Alternatively, launch the live chat feature and a professionally trained member of support should be able to help you set a wide range of sensible limits.
Most Australian online casinos today allow registered members to set daily, weekly or monthly deposit limits, as well as spending limits and/or session time limits. Let’s just say that you set an initial monthly deposit limit of AU$50.00. If you deposit the entire AU$50.00 on December 1st, it means that you wouldn’t be able to make another deposit until the following January 1st, or if you deposit just AU$25.00 on December 1st, it means that you could only make deposits totalling AU$25.00 until the following January 1st, and so on.
You can easily go into your account and reset these limits after they have been set, but it would still take until the initial limit has been reached for the new limits come into effect. For example (using the same example above), if you set a monthly deposit limit of AU$50.00 and deposit the full amount on December 1st, but decide on December 2nd that you have changed your mind and want to lift your self-imposed limit, it would still take until January 1st for these new limits to come into effect, otherwise it would be pointless setting them in the first place. As mentioned, setting these limits is a great way to reduce your losses when playing at online casinos.
If you do reach your limit and still try to make a deposit, a message will appear on the screen for you and this will notify you that you have reached your limit. If you happen to be playing on an online pokie and you set the session time to one hour, a similar notification will also popup on the screen for you at the one hour mark. The only difference with these session time limits is that they can easily be lifted and they just act as a reminder of how long you have been playing in the casino.
The best piece of advice to give players would be to try and stick to these limits as much as possible. These settings are there to be used, so take full advantage of them. Setting sensible limits from the very beginning keeps things fun and is a great way to control how much you spend in the casino.