Whether you are playing slots for fun or for profit, you need to know how to control your losses. Slots are very easy to play, and in that ease of use lies its danger. You can lose money so fast you may not even realize it until it's too late.
This article explains two slot strategies for loss control: loss limits and naked pulls.
First, let us look at loss limits.
The loss limits slots strategy is really bankroll management. It means placing a cap on your slot machine losses. Once you hit the limit, you must stop playing slots immediately. You are not to play slots again for the whole day or trip, whatever you had decided on beforehand.
Your loss limit cap may be a percentage of your session bankroll, or a fixed amount. For example, you can put a 40% loss limit. Meaning if your session bankroll is $50, you must stop playing once your losses hit $20. Or you can set the limit at $10 no matter how much money you bring with you for your slots session.
Of course, this is easier said that done. But you have to stick to it if you want to survive long in the slots world, long enough to win big.
Next, let us consider the next slot strategy for controlling losses: naked pulls.
Naked pulls are basically a measure of a slot machine's "generosity." If a machine is loose or hot as they say, it will pay out every few spins. If it is tight or cold, it will yield nothing even after many spins. Slots may be hot at first then cold later on. The naked pulls is used to measure that as well.
For your naked pulls test, you must pick a number between 7 and 14, say 9. If you pick 9 for your naked pulls, it means you must stop playing with that particular slot machine after 9 spins of no wins. You have to find a looser machine.
It should be noted that loss limits take precedence over naked pulls. Meaning, if you hit your loss limit, you must quit playing even if you don't hit your naked pulls limit.
These two slot strategies - loss limits and naked pulls - complement each other and help you control your losses. If you stick to these strategies, you need not fear losing everything to the slots. It takes a lot of discipline, of course. But it is necessary to prolong the life of your bankroll.