How many times have you thought “if only I could back in time and do it all over”? If it is any consolation, to error is human. We have all made bad choices at one time or another that cost us dearly either emotionally, financially or both.
A guy meets a girl, becomes completely infatuated and jumps into a serious relationship avoiding all the red flags along the way. Five years and 2 children later he wakes up, sits back and asks himself what I have I done. Once the honeymoon stage is over he realizes they have absolutely nothing in common and it ends up in divorce.
Or the shopping for a brand new automobile and you buy the first one you see on the lot without doing your homework first. The car salesman sails you down the river quoting a price that is $5,000 more than the sticker price. Not only that but make, model and year of the car manufactured more lemons than any other car that year.
There are two core reasons we make poor choices – ruling with our emotions and not our heads and not setting goals and sticking to them.
The same rule applies to gamblers and if you are one, you’re shaking your head now in agreement. Gambling is a game of chance, it’s about taking a risk but it doesn’t mean risking the opportunity to get ahead of the game, putting winnings in your hip pocket and walking away.
Gamble to Escape
Your mental state is one of the most important factors to consider before setting out to gamble. If you are having feelings of depression, anxiety, guilt or suffered a loss or major tragedy gambling should be strictly avoided. Of course it is easier said than done because it can be the perfect opportunity to put your problems on the back burner.
Sitting down at a Slot and spinning the reels is strictly you against machine with no outside interference in your way. All your woes temporarily vanish and winning gives a welcoming feeling of euphoria that simply can’t be found anywhere else in your life during this period.
If life has dealt you a bad hand and at one time or another and it happens to all us, gambling won’t solve your problems, it will only escalate them. Take up a more therapeutic hobby until the storm passes until you are clear headed once again.
This is one of the most common mistakes gamblers make. You sit at the Poker table and just lost your entire bankroll in 30 minutes time. Confident you can recover your losses you go to the ATM machine or make another deposit at an online Casino. With still no luck a player has just lost twice his bankroll and again pulls out more cash, digging an even bigger hole. Now the player is on full tilt and it would take a miracle hand to recover losses or at best break even. Admittedly so there are those rare moments you rebound the victor but it’s far and in between that it happens and not worth the risk.
If you are true gambler and are honest, you’ll admit it’s happened at one point or another. The key is to learn from making this mistake and never go down this road again, because in the end you’re a bigger loser than when you first set out to win back your losses.
Gambling Beyond Your Means
Every gambler starts out with good intentions. Certain that under no circumstances you will wager beyond your means. Starting out smart with a budget plan set, but once it’s gone, suddenly amnesia sets in. What’s $100 more, heck you’ve already broken limits you set for yourself why not $200 more. Before the player realizes it he has spent $1,000 on an intended gambling limit of $200.
That is when real problems set in because now you have to borrow from Peter to pay Paul. And once that plan is exhausted one too many times the only resolution left is to pay your bills late.
Set gambling limits and stick to it. To avoid temptation leave your check book, credit cards and bank card at home. If gambling online, make one deposit only. Don’t make a mistake of depositing $20 here or $50 there, deposit your entire limit in one deposit. Take all your banking cards and give them to your wife, mother, sister, brother or whoever else is in the house at the time and tell them no matter what don’t give them back for the rest of the day. If there is no one around put them in your car. This will give you a chance to think about what you are doing, avoiding a compulsive decision.
Playing With House Money
The player is at the Blackjack table and 21 is hitting left and right straight to his hand. He is on a hot streak with a couple thousand up. The pit boss observing your lucky windfall, changes dealers and your luck turns from hot to cold. His chip stack slowly dwindles and it is justified. Why? He is playing with “house money” it isn’t coming out of his pocket.
That is the wrong way to think because in reality, it is your money. You won it fair and square. If you were to leave the table, that $2,000 would go straight to your bank account. Luck doesn’t last forever and the house always has the advantage. Take the money and run, you will thank yourself the next morning.
Understand How to Play the Game
The newbie players pulls up a chair at Texas Hold ‘em Poker completely clueless as to how to play. So inexperienced he doesn’t even know what hand beats what. Unless you are playing Slots or Keno never play a skilled game without doing your homework first and developing your own personal strategy. You will be out to the game quicker than you can say “check” playing against experienced players that can spot your kind a mile away.
Most Table Games require a certain amount of skill and unless you know the rules of the game and have learned how to play, spin the reels on Slots. Practice by playing in Freeroll Tournaments or Free Games that are widely available online.
Unless you are playing in a Tournament that can take hours to complete, it is important to set a time limit on your gambling. Playing for a long period of time has a roller coaster effect on your bankroll and your mood. You’re flying high one hour and shot down the next until 9 times out of ten the house wins again in the long haul.
It is particularly crucial to set a time limit when playing at an online gambling portal or when traveling to gambling destination like Las Vegas because there is more of tendency to play for longer periods. When traveling to Sin City, Atlantic City or Monte Carlo it is an adult playground of non-stop action. Find other entertainment to break up your day like hanging out at the pool, taking in the shows or hitting the clubs.
Playing at home gives players the freedom to play at online Casinos several times a day or until wee hours of the morning. Set guidelines that fit your personal gambling budget. Whether it is playing only once per week or one hour twice a week, set a time limit and stick to it.
Alcohol and Gambling Don’t Mix
Gambling is fun and drinking goes hand in hand for good time. Having a beer or two while you play is fine and adds to the excitement of playing. But never drink until you are intoxicated. Drinking alcohol impairs your perception to make rational decisions. Although gambling is a form of entertainment it is also about making a quick buck using your hard earned money.
Too often players take advantage of the free drinks Casinos provide or crack open a nice bottle of wine at home and out the window their gambling inhibitions go. Gambling requires common sense and playing with a clear head will lead you quicker to the winners circle than an inebriated one will.
There is nothing more frustrating than sitting beside a player that makes lousy bets. If you can’t risk wagering the total number of lines on a Video Poker machine or Slot then don’t play. A 50 line, 5 reel Slot penny machine on a minimum bet, max lines is .50 per spin. Playing only 5 lines will give a player a minimal return and little cash value. In most instances the player now loses the opportunity to win Major Jackpots because the maximum paylines are required with the exception of some online Casino brands like Real Time Gaming.
Putting in one coin on a Video Poker machine that takes up to 5 coins drastically reduces the payout table. For instance the Royal Flush that pays 4,000 credits is now only 200 credits. For Video Poker games that have special features like multipliers, are not activated unless a max bet is placed. So the question is why play at all? If entertainment only is what you are after go to an Arcade.
Another common betting mistake is reducing your bets when you’re on a roll. For example a player is at the Roulette table and their numbers are popping like crazy and the chip stack is getting bigger by the minute. The player decides to reduce the bets therefor decreasing their winnings.
When you are hot at the table, that’s the time to bet heavier not reduce your bets. It was a big personal mistake I made in Vegas. I played Roulette at Caesars’ Place and placed the minimum bet and my numbers kept popping half the night. Every player at the table was stacking their chips on top of my and the whole table was winning. They ended up winning more than I did because they bet heavier while I didn’t increase my bet a single time. If I had, I would have ended up winning three to four times as much as I did.
Make the Right Decisions
So it has been said, gambling should be for entertainment purposes only. That is not entirely true because the bottom line is you’re in it to win it. You’re putting up your hard earned money and the whole point is to make a profit and walk away ahead. Pace your gambling sessions, set limits, do your homework before taking on a new game, make smart wagers, know when to quit and with a bit of luck you will be way ahead or least won’t break the bank.