Gambling is a fun and entertaining pastime that everyone can enjoy. However, any player who has gambled more than once understands that being a successful gambler is not as straightforward as it sounds.
It requires in-depth knowledge of game rules strategies, strong self-control, and a sharp mind.
Unfortunately, many novice players dive head-first into the deep end before considering all of these factors. This causes many of them to make common but easily avoidable gambling mistakes.
Here are the five common gambling mistakes you can learn from and sidestep when playing your favorite casino games.
1. Setting Unrealistic Expectations
The first and probably most overlooked gambling mistake players make is that they set unrealistic expectations.
No matter how well you research and learn a game, having unrealistic goals will often be the main reason you’ll end up losing.
It will impact your decision-making and lead to poor choices.
Keep in mind that gambling is just that – there are no easy wins, and you can never fully predict the outcome of any roulette spin, dice throw, or poker hand you play.
Such a way of thinking will only make your sessions stressful and lead to an unenjoyable overall experience. This is the last thing you want, as gambling should always be fun.
The best way to avoid all this is to set achievable and realistic goals. That way, you’ll be able to enjoy the games you play and still have a sense of progression each time you inch a bit closer to the goal you’ve set.
2. Playing the Wrong Games
All casino games involve a certain degree of luck. However, luck isn’t everything you need to be successful as a gambler.
This especially goes if you want to gamble long-term and stay in the positive. For this to happen, you should stay away from the wrong games and find a casino game that’s just right for you.
Yes, there’s such a thing as playing casino games. A surprisingly large number of players end up losing because they played a game they didn’t know or understand.
You should always know how to play the game, its RTP, volatility, and any other essential features and mechanisms that characterize it.
Never bet blind, as by doing so, you’re only putting yourself in a disadvantageous position you don’t have to be in.
The first thing you should do is find a game that best suits your interests, budget, and playstyle. After that, make sure to learn the basic rules, gameplay features, and strategies. This will allow you to make smart bets and decrease the chances of losing.
3. Chasing Losses
Nobody likes losing, much less doing so when real money is at stake. But, regardless if you’re playing online or visiting a brick-and-mortar casino, you must accept that losing some bets when gambling is inevitable.
There’s no strategy, tactic, or magic recipe that will guarantee you a win every time you play.
When they lose a bet, many players feel the urge to get right back in and recover their losses. However, this never ends up as planned, and they only lose even more money in the end.
You should try really hard to avoid this widespread mistake among gamblers.
It’s easy enough to get into the spin and win mentality, where you convince yourself that a big win is just around the corner and you just have to weather the storm.
However, by continuing to play and chase losses, you’ll only be digging yourself an even bigger hole.
Thinking you are due a win simply because one hasn’t occurred for a longer period is one of the most common gambler fallacies and one that can be detrimental for your bankroll.
All casino games, from slots to blackjack, are entirely random. This means that no result is influenced by any previous outcome. Thinking otherwise will only lead to irrational and emotional betting.
4. Poor Bankroll Management
Poor bankroll management is one of the biggest mistakes every gambler can make. No matter how successful and skilled a player is, if they don't keep track of earnings and expenses, things can quickly get out of hand.
But, if you’re a beginner, you might be wondering what bankroll management is and why should you care about this tedious aspect of gambling?
The term “bankroll management” is often tossed around as something every successful gambler should have a firm grasp over. So, what does this broad phrase include?
In short, it involves precise tracking of how much money goes out and comes in during your gambling sessions.
You can measure it per session, week, or even keep a long-term yearly management plan. Regardless of how you keep track of your cash, this is an integral aspect of being a successful gambler.
It is also often a good idea to set a maximum spending limit for each session so that you can avoid overspending during those inevitable cold streaks.
5. Betting for the Sake of Betting
This is something bound to happen to every gambler, no matter how passionate you are about a specific game.
You’ll be betting and betting during one of your long sessions when it’ll just hit you, and you’ll ask yourself: “Why am I even playing?”
Now, this is something completely normal; it's how you react to this, though, that can make all the difference in the world.
The proper reaction should be to step away from the game as soon as you feel like this. Don’t chase any further wins, as betting simply for the sake of betting will not only cause you to lose money, but it will make you feel miserable.
Look at it this way – you wouldn’t pay money to see a movie that you’re not interested in. Then why should you bet any of your hard-earned money on a game that doesn’t keep you entertained?
Ultimately, your goal should always be to have fun. Whenever playing stops being fun, it’s time to take a break.
Not knowing when to stop is likely the biggest mistake of the five we’ve talked about on this page, as it can lead to gambling addiction and other countless problems it brings with.