Budget management at Las Vegas Casinos
Las Vegas is an amazing city that NEVER sleeps and it is easy to get caught up in the magic, excitement, bright lights and the sound of tinkling slot machines that always seem to be paying out a lucky winner somewhere in the distance.
Add to this the fact that casinos are architecturally designed and decorated to draw you in and get you to focus on gambling and nothing else so it's all very easy to just spend, spend, spend as you blow your budget and then some.
Here we look at a few helpful tips on managing your budget in Las Vegas which will help you to come home with more than the coat on your back while still enjoying a fabulous holiday and gambling experience.
Determining and allocation your Budget
While planning your trip you should always determine your budget for various activities like dining, shows and gambling before you arrive. Many people even plan their daily budgets and split their cash up into envelopes for each day that they are in Vegas and keep these in the hotel safe.
This kind of thing helps if you have some self-control and don't throw it all out of the window if you get too drunk or go on a gambling spree where you lose and end up staggering back to your room to retrieve another day's envelope. We've seen this more times than we can count. So the envelope trick may work if you are disciplined, but if you're not then it's best to make an alternative arrangement like giving your money to a more responsible travelling companion to hold or instating daily spending/withdrawal limits on your bank and credit cards.
Another option is to wire your entire gambling budget to the casino cage before you arrive (yes, you can do this!) and resolve that once that sum is spent, your gambling is over.
Do your research beforehand
There are literally hundreds of hotels and casinos in Las Vegas and not all are created equal when it comes to casino games. Some have higher minimum betting requirements than others, some offer games with higher payout rates than others. So find out which casino offers the best odds on your favourite game/games and make a plan to play there and skip all of the other casinos altogether.
Join a Casino Player's Club
If you're a serious gambler it is worth joining a casino's loyalty program before you spend a single cent gambling as once you are a member your gaming will count towards earning rewards and a number of freebies that can not only enhance your stay but also either give you complimentary items in future which will allow you to free up extra cash for gambling. Get more information on the top 3 Las Vegas Loyalty programs you should be registered with.
Play within your means
Before you play, you should also set a limit of what you are prepared to lose and make your mind up that once you reach that figure you will get up, walk away and do something else like take in a show or do some sight-seeing in the city instead.
Start your gambling off by taking a walk around the casino floor to determine what the minimum bets and rules for each game are then select the most favourable game accordingly. Also have a gambling plan of action like whether you want to play a few hands of a high stakes game or whether you want to stretch your budget out by playing lower limit games for longer periods.
Never establish a line of credit with casinos
As tempting as it can be to establish a line of credit with a casino, if you have ever had money management issues at all, this is a no no. It is far easier to gamble with credit that feels somewhat "imaginary" than to fork over your own hard earned, physical cash when you want to gamble.
Money and budget management may seem logical in day to day life but remember Las Vegas is an entirely different world and you do need to be mindful of that fact to ensure that you manage your money wisely and gamble responsibly.