When you’re playing the slots, roulette, or blackjack tables, it’s easy to get caught up in a game and forget about the real world. But when your bankroll is dwindling, it might be time to take action and cash out. Here are some tips on when to cash out. 

Know What You Have Left 

To know if you should take advantage of an offer for a large payout (say $100) you have to first calculate how much money you’ve lost. This isn’t as hard as it sounds; just add up all of your losses from each machine since you started playing. That number will tell you how many times you’ve hit “0” and how long it’s been since you last won big. 

If you don’t know exactly how much you’ve lost over the past few days, you can use the following equation to estimate how many games you’ve played: 

This formula will give you approximately how many spins you’ve made since starting playing. If you have several machines that allow you to track your progress, you’ll find this easier than trying to remember. The equation is also useful if you want to keep track of how much you’ve spent since you started playing.

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Once you know how much you’ve lost over the past week or two, check to see what percentage of your bankroll you still have. For example, let’s say you’ve lost $50 total and you have $200 left in your account. This means you’re down 50% of your bankroll. To make a profit, you would need to win back $100, so you’re only down $50 over the course of the entire week. 

Calculate Your Takeout Percentage 

Now that you know how much you’ve lost, you can figure out how much cash you have left to play with. To calculate your takeout percentage, divide the amount you have remaining by the amount you’ve lost. So to calculate 20%, you’d do: 

You may not always be able to cash out immediately after losing a significant amount of money, but if you’re close to cashing out, you can increase your chances of winning big by doing one of the following. 

Increase Your Bet Size 

Since you can’t afford to lose all of your remaining chips, increasing your bet size is one way to boost your odds. This doesn’t mean you have to wager more than you normally would, though. You simply have to bet enough so that you can afford to lose. 

If you normally place a $20 chip on a slot machine, then you’d probably wager $30 to $40 before you’d consider taking a break. As long as you have at least $10 left in your account, you could go ahead and play again. Increase your bet size by $10 to $15 and you could try your luck again. 

Try Another Game 

If you’ve been losing consistently, you may want to switch to another game. Roulette wheels spin faster, so you typically have less time to lose your stake. However, you may still lose a couple of chips here and there. 

Blackjack is another option. Some casinos limit players to six hands per hour, which would result in you losing your entire stake if you were to continue playing. Switching to baccarat would be a good idea because you have fewer decisions to make while playing. 

If none of these options sound appealing, you could always sit down and drink some more coffee. A cup of joe (or whatever you prefer) might just help you focus on getting through the day without losing too much more money. In fact, some people swear that drinking coffee helps them think more clearly, so maybe this is why they like playing slot machines. 

Increase Your Time Played 

The longer you spend on a single game, the better your odds of winning. Many slot machines come equipped with timers, so you can set them to automatically stop spinning once you’ve reached a certain point. Blackjack tables usually have a timer built into the table itself so that you can adjust its length based on how long you want to keep playing. 

Playing until the timer expires is a great way to increase your odds of hitting it big. Of course, you risk losing everything if you’re not careful; you could end up paying out more than you had intended. Therefore, increase your time played by five minutes instead of five hours. You’ll still be able to enjoy yourself and potentially walk away with some extra money.

Play More Games 

If you’re feeling lucky, you could always play multiple slot machines simultaneously. Each machine is independent of the others, so you won’t feel any connection between them. However, this approach has its drawbacks. Because each machine is independent, you’ll likely lose money on at least one of them. 

In addition, you run the risk of being distracted. If you start watching television or chatting with friends, you could miss an opportunity to win. Some people even choose to play while driving home from work, although this is illegal in most states. Just be sure to keep your eyes on the road and avoid distractions. 

Cash Out Immediately 

Although you shouldn’t necessarily rush out of the casino after losing a lot of money, you should always plan to quit when you’re ready. There’s nothing wrong with leaving with a little bit of cash in your pocket, but if you’re planning to leave empty-handed, it’s best to exit now rather than later. 

About The Author

Erik Allaire is a master poker player who has won many professional poker events, wishes to represent his country at the world level.

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