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Editorial: Learn to avoid gambling mistakes

Gambling Mistakes

Any player that has ever visited a casino, whether it was a brick-and-mortar resort or online gaming site, understands that gambling mistakes can place a strain on both the wallet and the psyche. Experienced casino players know that lucky streaks are rare enough and difficult to control without allowing gambling errors to compound their losses. However, many players new to the casino scene may not understand how simple casino mistakes can lead to disaster.

This guide will help players recognize common gambling mistakes and, more importantly, how to avoid taking a catastrophic hit to their bankrolls.

Gambling Mistakes: Ignorance is Not Bliss

One of the most common gambling mistakes that new players make is to play a game that they don't fully understand. Players may make betting errors by wagering too much or too little money on a certain game. They also can make bad bets by not understanding basic concepts such as odds of winning, payout structure and house advantage.

The best way that players can avoid making such basic casino errors is to acquaint themselves with the rules of each game, as well as some basic strategies to preserve their bankroll and improve their chances.

Gambling Mistakes: Bankroll Management

Another of the most common gambling mistakes players make involves the concept of "bankroll management". Players with poor bankroll management will often bet at higher stakes than they can afford. A player at a $25 blackjack table may not have an adequate bankroll to last through a losing streak. If a player with the same bankroll goes to a $10 table, he can often ride through the rough times until his luck turns around.

In any form of casino gaming, bankroll management is crucial. Bad bets made at bad times will often lead to devastating losses.

Gambling Mistakes: Chasing Losses

A long losing streak can also lead to another of the biggest gambling mistakes: chasing losses. This set of gambling errors occurs when players are losing and make more bad bets at higher stakes to make up for what they lost earlier in the session. The stresses involved in seeing losses accrue at an accelerated rate can lead to even more expensive casino mistakes.

Players should remember that every house-banked game in the casino is there to make money for the casino, not the player. The longer a player stays at any single game, the more likely they are to lose.

Gambling Mistakes: Getting Greedy

Just because a player is on a winning streak does not mean that he is immune to making gambling mistakes. Some players will also make simple casino errors when they "ride the rush". Players feel their adrenaline surge as they win; like any addict, they need more wins at higher stakes to maintain the same euphoria.

These players make betting errors, not out of ignorance, but out of greed. If a player is up by $100, he wants to be up $200. If he is up $200, he wants to be up $500. When he gets ahead $500, he needs to be ahead $1000. This emotional roller-coaster can lead to numerous casino mistakes at the tables, slot machines and video poker terminals.

Gambling Mistakes: Alcohol and Drugs

Players need to maintain a sharp mind and clear focus to avoid most gambling mistakes. Players who abuse alcohol or drugs, especially those who do so while playing, cannot possibly make intelligent and well-reasoned decisions on their playing strategies. They will often make betting errors, place bad bets and make other elementary casino mistakes that can damage their bankrolls as much as their health.

While most players acknowledge that gambling is meant to be fun and entertaining, the experience can be so much more rewarding when they avoid simple gambling errors. After the player wins a pile of money, he can then buy drinks for the house!

Gambling Mistakes: Hunger and Exhaustion

Another source of gambling mistakes comes from players who sit at the tables too long. Players can often lose focus after long hours at a game, which can lead to betting errors, as hunger and exhaustion take over their minds and bodies. A growling stomach and drooping eyelids can lead to some costly gambling errors, regardless of the game.

Smart, experienced casino players will often take breaks away from the table for food, rest or companionship, especially when their luck turns bad. Breaks during losing streaks help combat the twin casino errors of chasing losses and losing focus.

Gambling Mistakes: Missing Bonuses

Some gambling mistakes have little to do with a player's behavior at the tables. One of the biggest casino errors players fall into is their failure to use their player's card at a live casino, or to take advantage of bonus offers from an online gaming site. Both live and online casinos extend these offers to loyal players as enticements to bring them in. Players who fail to use these offers are missing out on some wonderful opportunities.

Many live casinos give free meals, show tickets and hotel rooms to their favorite visitors. Online sites offer electronics, apparel and cold, hard cash to their returning customers. Very few things soothe a $200 loss at the tables like a "free" $20 T-shirt!

Gambling Mistakes: Conclusion

Casino players know that "luck" comes and goes, but knowledge lasts a lifetime. With this guide to common gambling mistakes, you should have much more ammunition to combat the variances of fortune and make winning plays at whatever game you choose!

 

03-Apr-2010, 23:46


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