Learn How Casino Loss Limits Help You Play Responsibly

With online gambling and no deposit codes gaining popularity all over the world, the emphasis on responsible gambling has increased.

In many countries, local gambling authorities have been enforcing mandatory responsible gambling practices for years. However, with pressure from social groups for more stringent measures increasing of late, authorities have ramped up efforts to ensure licensees are adhering to these practices, and as a result, we’ve seen well-established brands receive hefty fines and sanctions.

The UK Gambling Commission has allocated millions of pounds to GambleAware and is demanding annual financial contributions from its licensees. The Swedish gambling commission, Spelinspektionen, is placing similar demands on licensees and has even set up a government-run regulatory system that tracks players with gambling difficulties, and helps them overcome their addiction.

Luckily, players residing outside of these countries are still protected, as jurisdictions like Malta has made it mandatory for casinos to offer players practical and effective responsible gambling tools. In a nutshell, these tools comprise different limits that players can set to restrict their playing. And in this article, we’ll take a look at loss limits specifically.

What Are Loss Limits?

Loss limits are one of several tools that casinos offer as part of their responsible gambling practices. And as you probably might’ve guessed, these limits restrict how much you can lose with a casino.

However, although the term is kind of self-explanatory, you need to understand how these limits work to take full advantage of them. Above all, you must understand how casinos define a loss. But before we get into all that, let’s first explain how you set a loss limit.

Depending on which casino you’re playing with, you can set a loss limit in two different ways:

  1. Set the limit yourself in your account settings.
  2. Contact customer support and have them set the limit for you.

Out of these two options, the first one is the most common.

Let’s look at how you would set a loss limit at CasinoCruise.

  1. Go to your account settings.
    Loss Limit Step 1
  2. Look for a limit or Responsible Gambling in the account menu.
    Loss Limit Step 2
  3. Choose the amount and duration of your loss limit. Periods may vary with each casino, but the most common ones are 24 hours, 7 days, one week, one month or a year.
    Loss Limit Step 3
  4. Choose your desired amount.
  5. Save the changes.

Once your limit has been saved, you’ll receive a confirmation on the website or via email. Now, you won’t be able to stake real money once you’ve reached your set loss limit. When the period has expired, the casino will reset your loss limit, and you’ll be able to play again.

Loss limits only apply to real money and won’t consider any bets you make with bonus credits.

How to Change or Cancel a Limit

You can cancel or increase your loss limit at any time; however, your changes won’t be implemented until seven days after your request. When you set a new limit that’s lower than the current one, the casino will apply your changes immediately.

How to Change or Cancel a Limit

How Casinos Define A Loss

It’s essential to take into account that loss limits only apply to your net losses.

In other words, a loss limit is always relative to the account balance you had when you initially set the limit, or when the limit was reset by the casino. In other words, loss limits won’t take additional winnings into account.

Let’s explain this with an example:

Casino Cruise
Let’s assume you set a loss limit of $100 at CasinoCruise and that you had $100 in your account at the time you set the limit. You start playing and stake a total of $20 without getting a single win – you’ve now got $80 left on your loss limit.

$100 initial balance – $20 worth of losses = $80 left on your loss limit.

Let’s assume you win $100 on your 21st spin and end up with $180 in your account. Now, your loss limit won’t be affected until you’ve lost the $100 you just won. In other words, your loss limit won’t trigger until your balance drops below $80.

However, when the casino resets the limit at the end of the period, it will apply the loss limit to your total balance. So, if you leave the $180 in your account, and wait for the current period to expire, your loss limit will apply to $180 in the next period.

Do All Casinos Have Loss Limits?

Since loss limits aren’t mandatory in all gambling jurisdictions, not all casinos have them. However, casinos licensed by reputed gambling authorities, such as the UKGC or MGA, will always offer loss limits as a part of their responsible gambling policies.

Top-Three Casinos With Loss Limit Features

Several casinos on our top lists let you set loss limits. And if you want to control how much risk to lose, a loss limit becomes a useful tool.

To summarise, loss limits are an effective way of ensuring you never lose more than you can afford, and that you don’t get too carried away during a playing session.

Here are three great casinos with loss limits:

Slots of VegasUnited States of America

$25 No Deposit Bonus

CoolCat CasinoUnited States of America
EXLUSIVE

$25 No Deposit Bonus

Diamond Reels CasinoUnited States of America
EXLUSIVE

50 Welcome Spins Bonus on Paydirt