How do you rationalize cashing out?

[WillPower505]

I noticed I have a big problem when it comes time to cash out.

I typically deposit 50-100$ per session. Obviously I lose most of the time and on occasion guilty of chasing some losses.

But whenever I deposit like 50$ for example, I can typically get it up to 100,150, and sometimes even $200+

But I won't usually cashout unless I hit 300-400+

For me I play with bitcoin so I get hit with fees moving stuff around so I feel like a lot of people would be happy to deposit $50 and cash out 100, but when its all said and done I lose about 3$ in fees just buying and sending bitcoin over, and then another 3-5$ in cashing out bitcoin to USD, assuming I didnt lose more if bitcoin goes down during that time. So it makes it hard for me to justify cashing out $100 even though its 100% profit because I know I'm going to lose probably 10$ in fees so I need just a little bit more.

But then I think to myself, do I really want to cash out 100$ only for me to want to play again the next day and just lose more money on fees adding money back into the casino. May as well play up to a point where I feel like its worth cashing out. This is when I get to a point when I could be up 200$ and then just feed it all back because I feel like its more of a hassle to withdrawl knowing I'm just going to deposit again to keep playing throughout the day/week.

So I basically have mindset going in that if I deposit like 50-100$ I won't bother cashing out unless I hit at least 300-400$. Which is definitely possible, but gambling is a losing venture already and I feel like I'm losing way more than I should be by building up $50 deposits into $200+ and then losing it all because I didn't hit that 300-400 zone.

So I'm wondering if anyone is in the same boat. I know its probably easier for the rest of the world where you can just deposit and withdrawl using a card, but here in the US its a pain the ass with bitcoin. So curious to get everyones thoughts on their deposit and withdrawl strategies.

 

[TamingTheBeast]

I used to have the same mindset when my withdrawal option was a bank wire which costed me almost 40$ in fees lol. So ridiculous... ever since I switched to strictly interac as deposit/withdraw (canada) that has 0 fees the mindset switched. Im perfectly satisfied with withdrawing 50$ profit from 50$ deposit. Heck even breaking even is a win too when you have 0 fees.


Id suggest to find a way to eliminate these fees otherwise i find it hard to make it worthwhile.

 

[snorky510238]

Excuse me if I sound uneducated but I don’t really understand bitcoin. Surely that is not the only available method of depositing is it?

If it is and I was in your situation I just wouldn’t play because for me with the fees it is the same as taking a few percent off the rtp so you are at a disadvantage before you start.

 

[Davey86]

Myself as a low roller I deposit maybe £25-£40 but with the mindset it’s already lost before deposit! it’s entertainment I enjoy it and gladly accept the loss depending how the session goes cashout from £75+ as long as I have a little playtime leftover or when I do get the 1000x hit which is not often it’s a cash out but I just use debit card so I don’t have fees

 

[Fredos386]

Well with fees, bank, bitcoin trade and such it was already complicated in the past when the promotions were great and rtp on top. I had left landbase slots for the high online RTP. The problem is that now... my RTP is lower online than live... how ridiculous lol. I had to start betting min because of how i get annihilated everytime. Just in the past 2 days im down 2000x on domnitors (bgaming) which they advertize at 97.3% RTP but it's the rtp it had years ago, i play every for years and they nerfed the RTP 2 times in the past 2-3 years. It's not even subtle, they simply removed the big wins. Now my favorite game swing stable balance for some time then all dead spins to 0. Redeposit, same same same same. I had one win 300x in the past week and the slot took it back the next 500-600 spins, it's always like that... unplayable.

I shouldve stopped a long time ago but i miss the old domnitors RTP so much i just continue playing hoping like a turd that it will return like before, it won't. Raw my RTP is under 90% all across which is unreal. The only way to get some wins is through promotions. So when a casino say "no more bonus" then it means no more fred lol. I went through angry madness rage on forums so many times, everytime because i had lost thousands of times my bet size on that game that never paid me more than 700x in my life which i had once. It's like i couldn't just accept that they set a scam RTP and would just kee pplaying day after day after trying to see how far it goes. Well through my stats, raw, i could hit 100,000x right now (33 times the jackpot of the slot that, dont exist lol) and i wouldnt barely be on the target RTP. I mean at what point one figure the RTP provided is a lie... what are the odds that i win 33 times the 3333x jacpot (that dont exist anyway) in a row to get RTP back? Trillions of billions? Well that's the odds that the slots have the rtp provided lol. Unreal that it cost me 100-200$ per day to play 9 cents bet lmao.

So yeah you play bitcoin casinos, they don't tell you the real RTP, they provide the max math model for each slot but it's far from it and by now most btc players know. From what i been through the years, the rtp seems to have gone from 97.3% to 94% .. first nerf... then 90% or less.. i barely wager 5x my deposits and 5x is 80% lol. I play the slot for hours and i dont even hope, i know it wont pay. Obsessive compulsive disorder on needing to see how far it goes lol... my bad. I miss the past... My friends online had fun, we would all have hot runs every now and then one after another... now 99% of my friends are complete rip/dead and 1 of them win once in a while big and then the slots take it all back in a day or two and the rips continues. I don't know how long the industry will survive their own failures because people are quitting in mass. I lost at least half my friends in a year, all gone.

We are supposed to swing up and down and up and down always a little more down than up... not anymore.. we rip everything forever then a huge win then rip forever. No entertainment, no fun, nothing. I'm at the point where when i hit a mega big win i get depressed because i know it means the eternal rips are back again. At least i took measures to protect myself from myself and can't go too far. But at that point i don't think i'll keep going for much longer. I could just go eat a filet mignon with a nice bottle of wine in the best restaurant in town every day... at that point hehe. Don't chase losses on these scam RTP, they provide slots with same RTP or lower than the landbase casinos here ... and we provide the building, the electricity, the computer... Really curious to know how online casinos can struggle so much while with same edge the landbase casinos can afford luxury building all over. But it seems like too many people trying to get rich in the industry, too many casinos, too many provider asking way too much money. The pie is huge but they are thousands on it.. and then we are blamed for it... booo

 

[ternur]

So curious to get everyones thoughts on their deposit and withdrawl strategies.

I use a method where the ratio of gambling budget to beer in fridge is crucial. Since the deposited funds are effectively lost when they're showing on a gaming account, I'll just have fun with it as long as the funds allow me to do so.

But if the beer is low, I might cash out a lower amount than usual. Other than that, no real strategy I guess.

 

[TheAverageGuy]

Really curious to know how online casinos can struggle so much while with same edge the landbase casinos can afford luxury building all over. But it seems like too many people trying to get rich in the industry, too many casinos, too many provider asking way too much money. The pie is huge but they are thousands on it.. and then we are blamed for it... booo

Land based casinos don't pay affiliate fees, in perpetuity, for customer referrals. So if it helps, when you see the glitz and glam some land based casinos can indulge, imagine that the rent, limo fleet, comped rooms/flghts and front row seats to the sporting/entertainment event of the day are all owned by a private.. outside 'family' business who insist that their help is an offer you can't refuse. ;-p

as to the cashout, easy math. $90 out is $290 more than chasing after the $50 lost... (or worse)
of course if simple logic was all one required to walk away a winner, the godfathers of seo and links wouldn't be so successful.

;- }

 

[goatwack]

My expectations are pretty unrealistic these days when it comes to the olde cashing out.

Fees or not I generally aim around the 10x deposit mark, so on average I'll deposit £20 and not be happy with less than £200. If put in a headlock I might just settle for the £150 cashout.

But in regards to fees and charges and the like, when withdrawing said £150-200, I'll always leave myself 'leftover funds', often to the tune of £50+.

So actually having thought about it, my cashout target's circa 11x deposit amount. Hokely dokely then

 

[Downsman]

I usually deposit 20-30 quid, and make it a rule to always cash out if i'm lucky enough to reach £100.

 

[irish-ranger]

Well for today only paddy powers free tenner turned into £380 which found its way into my bank account

 

[Degen]

Only see the point In cashing out when the winnings will make a noticeable difference to my finances and lifestyle

 

[Harry_BKK]

Excuse me if I sound uneducated but I don’t really understand bitcoin. Surely that is not the only available method of depositing is it?

If it is and I was in your situation I just wouldn’t play because for me with the fees it is the same as taking a few percent off the rtp so you are at a disadvantage before you start.

Not much choice when you are in the "land of the free"?

Bitcoin is very often the only viable method.

 

[ternur]

Only see the point In cashing out when the winnings will make a noticeable difference to my finances and lifestyle

If the fridge is a lacking, it'll make A HUGE difference!

A clarification: Above mentioned means beer. If that was unclear.

 

[The Dude]

When playing - once I reached double what I had deposited I would withdraw that much. Then keep playing and repeat if it happened again.

 

[goatwack]

When playing - once I reached double what I had deposited I would withdraw that much. Then keep playing and repeat if it happened again.

Can't fault your method, but clearly not as meticulous as mine

 

[Copperzzz]

I try to stick to my following rule;
Deposits of 40,- when I get to 150,- I cashout 80,-
Easier said than done, for some reason I often get to 100.-, but never to 150,-

 

[Downsman]

When playing - once I reached double what I had deposited I would withdraw that much. Then keep playing and repeat if it happened again.

Making this my new rule going forward.

 

[Masquerade67]

Tend to go for double the deposit at 1% stake. If I reach it then withdraw deposit and put the profit on the weekend's footie or shop at M&S for their nice food.

 

[Kroffe]

I usually deposit €10-30, and cash out if i reach €100.
But depending on how the month has been, that can be lowered to €50.
I work with a pretty small gambling budget (€250-350ish) and the goal is to make that last a month.
I always consider money deposited as lost, but im ok with losing as long as i get to have some fun before busting out.

 

[Guntis]

Around 5-8 years ago I was playing roulette in real casinos like there is no tomorrow. I never had my bank card with me but instead, I used to go to the bank and withdrawal a certain amount of cash to make sure I can't lose more than that.

On lucky days I had no pockets left to put those £50 notes in. But sometimes after playing and drinking all night double brandy with added one cube of ice, I used to leave the casino totally sober. As a rule, such happens due to the high level of stress, when you suddenly lose everything that you've brought in...

I do still play time after time, but the older we become the wise we get (some of us)! There is a quite useful thing called sixth sense or gut feeling. Some people can understand and even control that very well, but some others have no idea about it!

If I play online, I deposit between £100-300 at a time. Then I try some of my favourite games and see how they behave. And if I feel that today is no point to play — I leave the casino and play another day. If I win £100 but I feel that today I will lose anyway — I will cash it out thinking; hey this £100 is more than enough to buy cigarettes and food for this week and I won't have to touch my wages at all!

Also, I think the mood plays a massive role as well!

 

[EngrishJonny]

Get an online wallet - I use Canadian funds and fund that wallet via interac

then can move funds from casino to wallet to casino and back and no fees

get.muchbetter.com

 

[casguy2016]

I used to never cash out...meaning i lost 100% of what i put in when i played online...almost cac=shed in once but couldn't wait the 48 hours reverse time...never bothered asking customer service to freeze it so i cant reverse. The same thing started to happen when i went to local casinos...didnt matter if i would go up 1K i would end up playing trying to win higher and eventually trying to rewin what i had lost....so i would finish the night with nothing every time. That's when i realized it was time to self exclude at the local casinos and also did online.

I started gambling again a couple of years later but the biggest difference now is most of the time i cash out when i have doubled my money...even if its within a few minutes of starting....sometimes if i try and go higher it works but most of the time you end up losing it.

Sometimes i play bonuses and depending on the bonus terms i'll either play through or i'll cancel the bonus if i can after a good win (or lose the bonus and my deposit

if you keep finding excuses not to cash out unless you reach higher amounts maybe you need to rethink things....either stop playing or go down to more realistic limits. Another thing that has worked for me in the past is once i reach a certain amount to keep keeping track of my highest balance and to quit if i go x amount below that. Again that's a hard limit...i find if i play based on the limits i give myself i'll stop and cash out most of the time. keeping track of the highest balance i have allows me to keep playing as long as i keep winning more than i lose so sometimes that pays off...most of the time i find i have to stop because i'm x below the highest balance i have had but at least i stop most of the time.

The important thing is whatever you decide to do is to stick with it and if you find you never reach what you plan to do to lower your expecations. I can also concur that muchbetter is great and they do support BTC, ETH, LTC, XRP. withdrawals to that costs 2% of the amount

 

[09237653]

I deposit in 30s so I like to cash out in multiples of 30 - 30,60,90 etc, exceptions are if I hit big I will then often take the lot out.

I will also happily walk away breaking even if the session goes nowhere, played a few hours and have not won or lost take the deposit back and save it for another time.