Best Online Casinos in Canada 2021: Reviews & Expert Advice

Choose games with a high RTP

RTP stands for Return to Player, which is the expected percentage of wagers that a game will bring you in the long term, for example, after 100 spins. In short, it’s the percentage of time that a game will pay back to you. Ideally, it should have an RTP of 96% or more, so you can minimize your risk and have actual chances of winning a prize. 

The keyword here is “long term”, which means that on top of choosing a high RTP game, you need to pay for the long haul. We will discuss more this in the next sections. 

Know the ins and outs of each game

Don’t just choose a game because you liked it at first glance. Before you put in any money, you should learn all about the game, such as the rules, prizes, paytable, jackpots, RTP, house edge, etc. Basically, everything you need to play the game like a pro and see if the game has enough benefits to bring you a great reward-to-risk ratio.

Build a bankroll

Now, the secret to responsible and profitable gambling is to assign a specific bankroll for gaming online. It must be money that, if lost, won’t diminish your current lifestyle quality. Therefore, treat it as entertainment and you will reduce the emotional and mental pressure, which in turn will help you to make better decisions. 

Everyone is different, so no matter the size of your bankroll, make sure that it’s disposable money that you won’t miss or need in case you lose it. 

Determine the size of your bets

As we said before, you must think about the long term. Therefore, each bet should be anywhere from 0.2% to 1% of your bankroll. The riskier the game, the smaller your bets should be. This way, you will be able to take advantage of the high RTP, so you can reduce your risk and have a real shot at winning the prizes of the game.

Nonetheless, make sure that your bets are eligible for the jackpot, especially when it comes to slots because it will increase your expected return. 

Create limits for profit and loss

Some days you’ll be very lucky and profit big time, whereas other days you’ll have a pretty ugly streak. That’s luck, and you better learn how to ride it, and the best way to do it is by establishing limits for profits and losses. 

Such limits will depend on how conservative or risky you are. For example, let’s suppose that you have a profit limit of 10% of your bankroll. As soon as you hit it during a session, you simply close everything, cash out some/all profits, and call it a day. 

The same would apply for a loss limit, but in this case, it should be smaller, anywhere from 1% to 5%. This way you will protect your bankroll from being destroyed by a losing streak. Remember, it’s not just about winning, but also protecting your capital so you can bet another day.

Establish these limits early, so you can follow and respect them. This way, you’ll be better off than the majority of online gamblers in Canada.

Withdraw profits to a separate account

This is the final part of building your online gambling plan. You need to determine what percentage of your profits will go to a separate bank account, and how much you will re-invest in your bankroll. Similar to what we did with profit/loss limits, be strict and respect these rules. 

This way, you will have actual money in your hands, and you will be using your online gambling plan to consistently generate cash. Remember, this is about protecting your capital and winning for the long term - always for the long haul!