Losing Money at the Casino: The Main Reasons
Introduction: Reasons You Keep Losing Money at the Casino
Losing money at the casino is not really your fault. The truth is that casinos need the majority of customers to lose. Any wins are paid out by the losers. And the casino gets to keep the rest as profit. That’s their business model. Now you know, it should come as no surprise, that all the jackpot games you play there are essentially rigged in favor of the casino. And that’s why the majority of trips to the casino always end up in a net loss. It’s all good though if you’re OK with such an outcome. After all, it’s just like having a hobby. You spend money on it, for the enjoyment, not the outcome. If you like fishing, you buy all the gear and the license, and many times you’ll return home having caught zilch. But you passed a nice time sitting by the lake. Or whatever fishermen do.
But with gambling, there are things you need to look for that can help you either lose less or have a win. Consistent wins are really only for those with enough starting money and dedication to see things through for the long term. Most of us go to the casino for some fun as opposed to those who go and try and make a profit. Here are some common reasons why you’re losing so much. Along with some jackpot winning tips and tricks that you can do to change your fortunes.
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You Don’t Have a Bankroll
The bankroll is the money you’ve set aside explicitly for the purposes of gambling. You can have a bankroll for just the one day at the casino, or, if you’re a regular gambler, then it can be an ongoing amount that you are continuously adding to. Though it might seem slightly boring talking about money instead of gambling. Your bankroll, and maintaining it, is by far the most important aspect of your casino trip.
Though we say it time and again, that your bankroll should only consist of monies that you can afford to lose, many still ignore this advice. After the casino, they end up walking home at the end of the evening. In some ways, you could actually look at the bankroll as a rather wild investment. In that, you might never see that cash again. One of the main reasons for having a bankroll is that its money you’ve separated from your day to day monies. It’s money that’s earmarked for gambling and nothing else. This way, once it’s all used up, you’ll know that it time to go home. As opposed to not having a spending limit and constantly visiting the casino’s cash ATM. You’ll end up doing yourself some serious financial harm.
Losing Money at the Casino: The Size Of Bets Matters
Once you’ve got your bankroll, then the next decision is to determine exactly how much money you should spend on each bet. We suggest that you keep this amount on the smaller side. So, if you have $500 as your bankroll, then don’t spend any more than between 2% to 5% on any single wager. That means between $10 and $25 max. Not only will this help your casino games last longer, by not losing money, but also let you know what tables you should play. For example, there’s no point in sitting at a blackjack table with a $50 minimum bet.
As the evening progresses, it’s important that you always know where you stand with your bankroll. We suggest that you periodically take a break. Step away from the game and check exactly how much you have remaining. It’s important to know exactly where you’re standing at any time during your gambling session. This will help increase your jackpot winning chances.
You Never Take Breaks
When you enter a casino for the very first time, it’s all rather overwhelming. But just try and keep in mind, that you are the cannon fodder for a huge business. Everything that happens there is designed to separate you from your cash. And then to keep you spending until it’s all gone. The casino wants you to be losing money at all times. That’s why it’s super important to maintain a level head at all times. If you’re suffering a losing steak, then just walk away from the table. This is because, once you start losing money, you’ll quickly become anxious. This will start to cloud your better judgment. Go take a break. Step outside and walk the block. Go shout at a tree. Smoke a cigarette. Clear your head.
It’s all so easy to get sucked into the action. If you’re playing roulette or blackjack then you’ll have the sensation of not wanting to miss a single throw or hand. The games are cleverly designed that way. To combat that feeling, we suggest that you set your phone timer to buzz every half an hour. When it vibrates, it means it’s time to leave the table and have a break. Step out of the “zone”. This will help you by having you step out into a completely different atmosphere.
Losing Money at the Casino: You’re Picking the Wrong Games
It’s very important to realize that not all casino games are created equal. There are some that give more or less the same odds, and yet others where the odds are extremely high. So it’s important to know the difference if you want to stretch your bankroll and have a good time. For a start, we should say that jackpot slots machines are some of the worst perpetrators as far as being terrible value for money. They are so easy to play, are great fun, and have the possibility of a huge progressive life-altering jackpot. Nevertheless, we recommend that you stay well away from them if you’re looking to hang on to your money.
It’s The Number Of Coins, Not their Worth
Though you may think that putting just $1 into the slot is cheap, you’re really missing the point. That’s because you fail to realize just how many times each minute you’re feeding the slot machine. Playing the slots will see you spending hundreds of dollars each hour. Another factor is that the odds are terrible. So, though you’re pumping in tons of coins, at the end of the day, the statistical probability of winning will come closer and closer. But with such terrible odds, it just means that the possibility of striking a prize gets less and less. We’re not saying that you should never play the slot machines. Just that if you do have a small win early on, then call it a day.
Another common error we see many gamblers making is not checking the payouts on table games. For example, a common fault is sitting down to play blackjack at a table with a 6/5 payout. The vast majority of blackjack tables will pay out on 3/2. This means that you’ll receive more money with this latter amount if you happen to hit blackjack. The real problem is that just by looking at a game in progress, it’s difficult to tell what the payout is. So before you sit down to play, simply ask. If it’s a 6/5 table, then there’ll be a 3/2 table nearby.
You’re a Victim of the Gambler’s Fallacy
Stand by the roulette wheel for any length of time and you’ll witness this. So…what on earth is the “Gambler’s Fallacy”? Essentially, it’s the idea that something is due to happen. For example, if I’ve tossed a coin six times, and each time has been a head, then the gambler’s fallacy says that I’m now “due” tails on the seventh spin. But this can’t be true as every time I toss the coin, the probability starts from zero. At the roulette table, you’ll often see people saying that because the ball has previously landed on the red four times, then it’s now due to land on the black. If you were to count this as a casino strategy, then it’s by far the worst.
Each toss or spin is its own action. Previous actions have zero effect on the next one. It’s such a common way of thinking that you’d almost have to put it down to human nature. But now you know about it, then you can make the effort to avoid this way of thinking.
Losing Money at the Casino: You Drink Too Much
Depending on the size of your bankroll and how you’re betting, then there’s a very good chance that you’ll receive some casino comps. One of the most common ones is free drinks. It’s a really nice feeling to be sat at a casino games table and have a waitress approach you and ask what you’d like to drink. Of course, even though you’ll tip her, it’s still a freebie. The thing is, once you’ve finished it, she’s there again at your elbow asking what you’d like for the next one. At the beginning of this article, we mentioned that everything that happens in the casino is designed to separate you from your money. So, how do free drinks do that? Well, the idea is to get you tipsy.
Tipsy Gamblers Make Bad Decisions
When you’re a little on the drunk side, then your capabilities for making correct divisions go out the window. This will lead to taking unnecessary risks and filling your head with irrational thoughts. And this is exactly where the casino wants you. Not so drunk where you’re going to be vomiting over the games table. But tipsy enough to be making dumb decisions. Believe us when we say that the alcohol served is the cheapest of the cheap. And though you’re thinking of the drinks at retail price ie the price you’d pay in a bar, they are only costing the casino wholesale price, which is only around 15% of what you’d normally pay.
At the end of the day, you want to have fun. And being at the casino with your mates can be a great time. But keep an eye on the alcohol intake as you play. We would also suggest, that one of the best jackpot strategies if you’re going to the casino with friends, is that you should consider lowering your bankroll. It’s never a good idea to confuse a good time with good money management. The two don’t mix.
Conclusion: Reasons You Keep Losing Money at the Casino
Sorry to tell you, but you’re probably going to be leaving the casino with empty pockets. Very very few people can win at the games on offer. It’snot your fault. It’s by design. But, just follow the above tips, and you’ll still be able to have a great time. And maybe increase your chances of being a winner. Remember, as they say, it’s the taking part that matters…..not the victory.
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