To some degree, all players know deep down that it is impossible to beat casinos at their own games. That does not mean, that players should not give games a chance, as long as they are doing so with the aim of having fun and not expecting to walk away with millions. Walking away with millions of euros can only be a pleasant surprise.
Since there are many online gambling sites available on the market, it can be easy to mistake bad luck for mistakes. Sure, an element of luck plays a big role when it comes to gambling online. Similarly, we have mentioned time and time again how the house edge will always get you in the end. However, there are still some mistakes that players keep on making that cut their gambling session short.
Whether you are playing online or at a land-based casino, avoiding these common mistakes will allow you to extend your gameplay and most importantly, help you stay in control of your finances. Staying in control of your finances is a big one, as most players tend to go chase after their losses, especially if their session has been ongoing for a while.
As mentioned, having fun should be your top priority. Gambling should never be about converting a small deposit into money to pay your bills. That would be irresponsible.
Forget about betting systems
There are many articles and books selling you the idea that with a betting system you will be able to achieve consecutive wins and walk away as a winner. If that were the case, these people would not be selling books, but living on a yacht sailing the seven seas. Similarly, casinos would simply go out of business if that were the case.
You also often hear other players talk about their own betting system which they apply when playing a specific game. They even swear it is completely reliable and unable to fail. What they don’t tell you is that to generate some profit, there are also a lot of losses. They will hardly recoup their losses or make big wins. We can also blame this on the phenomenon better known as the ‘gambler’s fallacy’, but in reality, some players tend to focus too much on the small wins and forego the fact that they had made significant losses.
Of course, having a betting strategy is completely unrelated to having a betting system. A strategy is based on probabilities and making sure that you are somewhat realistic about your chances, so you make bets accordingly.
A betting system dictates how you need to place bets regardless of your choice of games and also fails to look at the mathematics behind it. You can learn about betting systems right here at GambleJoe.
Betting systems are not a necessity, and they could put you in vulnerable positions when it comes to your finances. Instead of going with the same bet size, you will be asked to double your bets, etc. No strategy is going to give you the best chances of winning.
Don’t go chasing after your losses
A lot of players get carried away when they are gambling online, especially if they have been playing for an hour. The longer you are playing the more you will be engrossed and won’t be able to think clearly. As a result, you may think that making another deposit could lead to potentially recouping your losses.
Players often don’t think too hard that maybe they cannot afford or should not make that next deposit. This is why we always recommend having a bankroll management system in place so once you have hit either a win or a loss limit, you are free to walk away without any regrets.
Not knowing the games or rules
This does not quite apply to online slot games, but rather to card and table games such as Blackjack, Baccarat, Roulette and Craps. These games come with various rules and in different variations. The variations can push the house edge up as do some of the side bets available in these games.
If you are not sure how the game is played, you may think that placing one small bet won’t hurt. However, each hand you are playing at an online casino is using the money you spent working for it. You don’t want to throw away your bets and money willy-nilly.
Knowing the rules of games and reading various game guides will help you watch out for and avoid any possible mistakes. You also need to avoid any outside distractions. If you are going to play these games, you will need to be focused, so avoid unnecessary noise or drinking alcohol.
If you really want to play these games, you can play them in free demo mode which will allow you to learn the game, the rules as well as the mechanics.
Betting more than you can afford
This applies to both online and offline gambling, though it should be noted that players at land-based casinos are more likely to make this mistake. There are too many distractions and noises happening at land-based casinos.
If you want to stretch out your bankroll and your gambling session, you need to adjust your bet sizes in proportion to the money deposited. If you are depositing EUR20, it would be silly to place EUR5 bets as that will only last you four rounds.
Don’t place any bets that are higher than 10% of your available bankroll. If you can bet smaller, go for it, especially if you are not sure about the games and the rules. You will win some rounds, but you are also more likely to lose many more. You need to weather out the storm as you are playing along.
Know when to call it quits
One of the biggest mistakes players make is that when they have hit a winning streak, they will keep going at it, in a bid to get more money. It is understandable to some point, but being greedy can cost you big in the long run.
One of the main reasons for having a bankroll management system is to know when to stop and to walk away. It is not unheard of for players to win big only to lose it altogether after they want to walk away.
Knowing when to call it quits will give you control of your bankroll.
Casino bonuses with impossible wagering requirements
Online casino bonuses are great for a number of reasons. They allow you to play with a bigger bankroll and extend your gaming session. They also come with some pitfalls. Newbies often fail to realise that these bonuses are not free money ready to be cashed out. They come with various terms and conditions before they can be converted into real money.
Very often, players skip the fine print and just want to play. That is a colossal mistake to be avoided. If the bonus comes with high wagering requirements, it will be impossible to cash out. Very often your bonus is also tied to the money deposited, so your money is also subject to the rollover.
The average industry standard is 35x, which is quite high already. It is not unheard of to come across wagering requirements that are 70x, 100x and even 200x. In addition to the rollover, there may be some game exemptions. If you love playing live casino games, for example, very often these games do not contribute to the wagering requirements.
Take time to read the fine print and if you’re not sure what the terms are, look them up. Here, at GambleJoe, we will equip you with all the necessary knowledge.
Not providing the right information when registering
Okay, so we have discussed some of the silliest mistakes players make when gambling. However, some players also go out of their way to avoid providing the right information when registering. They may use a fake name or address as they prefer to remain anonymous. This is understandable, but providing fake information is going to create a myriad of problems down the line.
When you are ready to cash out your winnings, you will be asked to submit verification documentation for the casino’s KYC procedures. You will be asked to submit proof of identity, address and payment method. Once you have submitted your registration information, it will be difficult to amend it and this information will need to match up with the verification documentation. If it does not match, you won’t be able to cash out.
Some players also create more than one account thinking there is nothing wrong with doing so. Opening multiple accounts in a bid to get more than one welcome deposit bonus, can result in the closure of your casino accounts as well as the forfeiture of any money deposited.
This goes against the rules of this casino and is quite risky. Casinos will look at the information provided as well as the IP addresses. As soon as they realise something is amiss, they will shut your accounts.
The wrong payment method
This mostly ties in with the casino bonus terms and conditions. Very often, some payment methods are exempt from the welcome deposit bonus. This often relates to the Skrill and Neteller payment methods.
If you have your eyes set on a specific casino bonus and you make a deposit via a payment method that is not allowed, you will risk losing out on the casino bonus.
In conclusion, when you are gambling online you have the luxury of time, so you can take your time researching and picking the right games based for you. The same cannot be said about land-based gambling. When you are playing online, you can look up the games’ payout percentages, shop for the best online casino bonuses, have the time to read the fine print and also try out games in free mode.
If you are going to play, you should make sure that you are playing for fun and are completely away of the dangers that come along with it and extended gameplay. Do your research and take your time. Try to keep a clear mind and don’t get heavily engrossed that you lose track of your strategy.