How to Not Go Broke at Online Live Dealer Casinos

It's a common scenario for players, whether at land-based casinos or online, to slip up with their money management. While the odd mistake is part of the learning curve, especially when you're new to the live casino scene in South Africa, it's crucial to learn from it. Remember, live casino action involves real money, so any blunders with your bankroll can have serious consequences.

But fret not! This guide is designed to help you steer clear of those common money management pitfalls that often catch out rookie players. We'll cover everything from picking the right game and understanding the house edge to setting a sensible bankroll size and managing your time effectively.

Biggest Blunder #1: Not Playing with a Dedicated Bankroll

This is perhaps the most straightforward way to go bust when playing at top South African live casino sites. Many new players jump onto a casino site, make a quick deposit, and start spinning without any financial plan. They don't realise that managing your money is the bedrock of any solid casino strategy.

Casino games can quickly drain your funds, so to protect yourself from the sting of losses, bankroll management is non-negotiable. It's best to gamble with money you can afford to lose. In other words, never dip into funds meant for essential expenses like rent, bills, or savings.

But how much cash is enough for your gambling sessions? There's no magic number for a live casino bankroll, as it really depends on your personal budget. The key is to have enough to sustain hundreds of rounds of play. For instance, if you plan to play 500 rounds of live roulette in a session, your bankroll should comfortably cover the minimum bet for each round.

So, aim for a bankroll that allows you to enjoy the game without excessive worry. Think of it as your entertainment budget for the casino.

Biggest Blunder #2: Picking Games with a Cruel House Edge

The house edge is a constant feature in any online casino game you play in South Africa. It's simply the percentage of each bet that the casino expects to keep over the long run. For example, a slot machine with a 96% RTP (Return to Player) means that 4% is the house edge. So, for every R100 you bet, you can expect to get back R96 on average. RTP (return to player)

How does the house edge impact your bankroll? A lower house edge means better odds for you, the player. Let's consider an example: if you play 500 rounds per hour in a game with a 4% house edge, and each round costs R10, your expected loss per hour is approximately R200. This loss figure will climb higher with a larger house edge.

The good news is that the mathematical advantage of the house usually becomes more pronounced after many rounds. So, when you're starting out, don't get too hung up on the house edge. However, always aim to choose games with the lowest house edge available in the live casino lobby to give yourself the best chance.

Mistake #3: Playing the Wrong Game

Technology allows live casino players to play hundreds of game variants for blackjack, craps, poker, roulette, baccarat, and Sic Bo. Gamers can also enjoy TV-like live game shows from Evolution Gaming. Games such as Football Studio, Monopoly Live, Crazy Time, and Gonzo's Treasure Hunt are big hits among live casino players.

But all live games are not the same. A good example is live roulette variants, including the French, European, and American versions. French roulette has the friendliest house edge at 1.35%, thanks to the La Portage and En Prison rules. On the other hand, the European version uses the same rules as French roulette, albeit with a slightly higher house edge of 2.70%. The American roulette maxes out at 5.24%.

In the meantime, play poker and blackjack if you want more control over the house edge. That's because players can use skills in these games to reduce the house edge to less than 0.50%. Poker games such as Double Bonus and Deuces Wild allow skilled players to reduce the house edge to less than 0%. And you know what this means for bankroll management, don't you?

Blackjack

Craps

Poker

Mistake #4: Overlooking the Live Casino Bonus Perks

Nowadays, every online casino allows gamers to play using bonuses and promotions. With casino incentives like no deposit bonuses, deposit bonuses, and cashback, gamers can sample the game library without risking their precious money. And if you're lucky or use a strategy, you can win a bonus payout.

Speaking of bonus winnings, always read the terms to know the wagering requirements. In a nutshell, this is the number of times players must wager using the bonus money before cashing out. So, a higher playthrough rate means you'll use more money before withdrawing the bonus winnings.

Remember also to check the win limit from the bonus money. For example, a casino bonus can have a $500-win limit, meaning the maximum you can withdraw from the prize is $500 even if you win $10,000. A higher limit is always better.

Sadly, you cannot play live casino games using bonus money, and that's why some live casino players can ignore the bonus packages altogether. But avoid this gambling ignorance because you can still play using the winnings from the bonuses like free spins and deposit bonuses.

No Deposit Bonus

Cashback Bonus

Mistake #5: Playing Without a Strategy

Playing live dealer games without a strategy is like giving the casino your money without a fight. Although no approach guarantees you a win, they can help you increase your winning chances and practice proper bankroll management.

Now consider this: you're playing live blackjack, and you happen to have a soft/hard 17. What do live casino players do in such a scenario? Logic calls for players to stand because they can bust with an additional card. So, don't hit at all costs. In poker, keeping low pairs has been a working strategy since time immemorial.

But all hope isn't lost if you're a fan of luck-based live casino games like baccarat, roulette, and craps. Use betting strategies like Martingale, Fibonacci, and Paroli on even-money wagers like come/don't come, pass/don't pass, odd/even, red/black, and player/banker. These bets have almost a 50% chance of winning, precisely what you need with the betting systems above.

Mistake #6: Chasing Losses and Looking for Bigger Wins

Congratulations if you're yet to make these typical money management mistakes discussed above. But one thing is sure: all gamblers chase losses and crave bigger wins after scoring a hit at the casino. In gambling, losses can be painful, and victories can be more tempting to go for even bigger payouts. These mistakes are also prevalent in sports betting.

For example, after losing your $200 bankroll, you may be tempted to dip into your credit card to play with another $200. Or, after winning $200, many players are tempted to stake the entire amount in a single bet, hoping to recoup double or even triple.

However, self-control is an integral part of bankroll management. Note that the house edge becomes even more active with more game rounds. So, if you add a sizeable sum to your bankroll, it's always good to quit while winning. All in all, learn to control your winning appetite at the casino.

Mistake #7: Signing Up at the Wrong Casino

Choosing the right online live casino site is a trick that you have to master. For a novice player, the best live casino should be legal in Malta, the UK, the US, Canada, etc. But the casino's payout rates are equally important if you're an intelligent gamer. That's because some casinos have higher payout rates for live casino games, slots, and table games.

So, how do you know the payout rates of the casino? It's simple; scroll down the home page and find the game-testing logo. Typically, an eCOGRA certificate is the most detailed, although certificates from bodies like Gaming Associates and iTech Labs are also reliable. These independent companies run millions of tests per game to be certain that the results are random and fair.

It's also advisable to confirm the live casino's background before signing up. There are many licensed casinos out there that have slow payouts, unfriendly bonus terms, ugly legal brawls, and more. So, to be safe, read reviews on LiveCasinoRank. A star rating of at least 4/5 is good to go.

The Last Words

Up to this point, you should be ready to play more responsibly and practice proper money management at the live casino. The short of it all is creating a big bankroll and splitting it into smaller session/daily units. Respect the budget by not playing after depleting the amount. And yes, quit while the 'gods of gambling' still favor you.