Casino gambling is big business. With the industry predicted to hit worldwide revenues of $107 billion in 2017, the stakes are higher than ever. Everything in a casino is designed to psychologically lure patrons into parting with their hard-earned cash, from the layout and decor, down to the free drinks. With that in mind, it’s more important than ever to understand where you may be losing money in a casino. These are the 5 most common mistakes made when gambling at a casino.
#1 Not Knowing Your Limits
When you choose to visit a casino, you should always decide how much you are willing to gamble (or lose) beforehand. Then make sure you only have that amount of money available to you when playing. This means leave your Mastercard at home! If you spend your entire bankroll, then find something else to do! Do not get yourself too emotionally involved with a game, this is the fastest way of losing money that you didn’t intend to gamble with in the first place. Set a gambling limit and stick to it!
#2 Impairing Your Judgement
Casinos love giving away free alcohol to patrons. This is because drinking impairs your judgement, making you much more likely to gamble more than you originally planned. It also becomes much harder to not become emotionally invested in casino games if you are drunk. Sticking to soft drinks will also make it easier for you to follow proper gambling strategies.
#3 Playing Games That You Don’t Fully Understand
When playing any game at a casino, you should always approach the table knowing exactly how to play. There are mathematically correct ways to play almost all casino games, so that you reduce the house edge and maximize your chances of winning. Most players will play casino games without knowing this information, meaning that they will lose more than they should. Check out my post on basic blackjack strategy to understand the best way to play this popular casino card game. Of course, you should understand that these strategies are not guaranteed to make you a winner. They technically reduce the house edge over you, mathematically cutting your losses.
#4 Playing the Wrong Games
Not all casino games are equal when it comes to paying out. In order to maximise your odds of winning, you need to play games that pay out the most money. These are usually games that the casino have less power over turning the odds in their favour, such as blackjack or craps. Study these games and their basic strategies then practice playing them. You are not ready for casino gambling until you’ve mastered the games that you will be playing.
#5 Playing in the Wrong Casino
Have you considered that you may be playing in the wrong casino? Did you know that some casinos pay out more than others? Find the best paying casino in your area and try playing a few games there. It’s worth checking what advantages each casino offers to members too. It’s sometimes these advantages that can make all the difference between walking away from the casino feeling like loser, or a winner.
These tips should help you reduce your losses when casino gambling, however it is important to remember that gambling does not offer any guarantees, and your actual results may be very different than your theoretical loss, so always plan accordingly.
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