It is possible to win thousands - even millions - of dollars on a lucky spin of the online slot machine. That is the thrill of online slots gambling. Nevertheless, it is important to remember that when you are playing online slots, the house (i.e., the online casino) has an edge and that you are likely to lose more often than you win at slots. That is why slots money management is so important.

If you plan ahead and play responsibly, playing online slots can be a lot of fun even when you lose. With a little forethought and management skills, there are ways to make your online slot machine playing experience more enjoyable and less stressful. With a little planning you won't be left with that "what just happened to my money" expression on your face when you're finished playing the slots. Instead, you'll know where and how you spent your money and you will have had a good time doing it.

According to the laws of probability, the odds are that you will lose money at the slots; but good money management will allow you to have a good time even though you may not come out ahead. Let's say you planning to play online slots over a long 4-day weekend.

Figure out — beforehand — how much money you want to play with overall and how many separate times you want to play the slot machines during that time (you obviously can't play online slots for 24 hours a day). Then take your money and divide it up by the number of days and then by the number of times that you want to play each day. Then put the piles of money into separate envelopes; the idea is to not touch the money from one envelope until the allotted time. If you have four days of playing slot machines online three times each day, you will need 12 envelopes all with the same amount of money. This is a classic money management system that really works.

On the first morning, you take your first envelope, fire up your computer, log onto your favorite online casino and go play the slot machines. When that money is gone, you walk away from the computer and go do something else; this is hard to do in a real casino where gambling is going on all around you, but easier to do at home. When it is time to gamble on the slots again, you take your next envelope for that day and play until you hit your limit or until you've lost all your money. Some people like to put the money they win in a separate place, and not touch it. Obviously, if you keep playing until the money you brought and the money you won is gone, you will come out with nothing.

In a land-based casino, you'd be wise not to take your ATM card with you; in an online casino, don't hit your bank account for more money. Stick to the envelope idea or some variation thereof. Pick a limit and stick with it. And if you win, make sure that you don't keep putting all your winnings back into the machines. A "win" goal is as important as a loss goal. Remember: if you control your money, the slots can't control you. Being in the financial driver's seat will mean hours of fun as opposed to weeks of regret.