Gambling is thrilling and fun, but there are many ways to do it right and many ways to do it wrong. There is no shortage of articles that will tell you what to do when gambling if you do not want to lose your money. This article is different; we will tell you what you shouldn’t do if you’re going to keep gambling for longer and how not to lose all your money in the process.
- Do not gamble when intoxicated.
Sounds obvious, right? Yet many people still do it. You would not drive when drunk (hopefully), so why would you trust the drunk version of yourself to control your money. The same goes for all drugs. If you are too drunk to walk in a straight line or operate heavy machinery, it’s time to place the chips down, cash out, and go to bed.
- Do not gamble with rent money.
The rule may specify rent money, but it’s not exclusive to it. Financial advisors often tell people who want to save money that they should deduct it from their money as the first thing before spending. In a similar fashion, your gambling money should be the money you have left after you have catered for all your needs and wants. This means that school fees, utility bills, food, and commute money should all be accounted for.
You should gamble with the money that remains after accounting for all your expenses for the month. One great thing about following this rule is that it will allow you to gamble without fear. You will be able to have fun and take calculated bets when you know that losing doesn’t mean you may get evicted.
- Do not gamble on shady websites.
There are hundreds if not thousands of casinos online. They each offer ‘lucrative’ opportunities but not all of them are to be trusted. Just because a casino offers huge bonuses does not mean you should sign up. There are many articles online that can help you create a selection criteria list that you can use to sieve through the many casinos online.
After determining that a casino is genuine, take advantage of any bonus they offer. For example, using the Fair Go casino bonus, you can play more games and increase your chances of multiplying your money by using their money.
- Do not play without knowing the rules.
While there is always a chance that you could lose your money when gambling, you should not lose it without giving yourself a fair shot of winning. The best way to do this is by picking games you know how to play. Alternatively, you can select a game you do not know how to play and take your time to learn the rules before playing. Take advantage of any demo modes to improve your skills, or start playing with lower stakes to increase your chances of winning.
- Do not play without a money management strategy.
Money management rules dictate how you spend your money when playing. Some people have detailed money management rules which specify what percentage or amount of money goes into which games. Others simply limit the maximum amount of money they can spend each time they play. The method you use does not matter as much as implementing the rules you set for yourself.
- Don’t double up.
This point ties in closely with the money management point. After losing a hand, some people double up (double their previous bet amount) so that if they win, they can win back the money from the lost bet and the new bet. This sounds like a sound strategy, but if you look at the probability of winning, the theory falls apart.
In any casino establishment, the casino always has an edge. In a game like Roulette, the odds of winning range from 37 to 1 to 38 to 1. This means that you either need to have a lot of money to double up until you win, or you stand to lose all your money as you keep doubling up. Therefore, it is in your best interest to play with a standard amount and play with money you are willing to lose.
- Don’t look for the perfect system.
There is no perfect system in gambling. Casinos are designed to always give the house (the casino) an edge. Stop wasting your time looking for the perfect system. If it is a game of luck, accept that you cannot rig the system. If it is a game of wits, do your best to know the game’s rules to increase your chances of winning but don’t count on winning 100% of the time. Furthermore, if you always win, the game will lose its thrill, and you will most likely get bored.
- Do not lie to gamble.
One of the first signs that your gambling may have moved from being something fun to addiction is that you have to lie about when you gamble or how much you gamble. If you cannot be honest about how much you are gambling, avoid gambling altogether. If you think you may have become addicted to gambling, don’t hesitate to get help. You can use this article to check the signs of problem gambling and if you may need to get help.
- Don’t be so serious.
Gambling and playing casino games is supposed to be fun. You should look forward to escaping the struggles of your day-to-day life by playing a few games with the chance of winning some money. If you find that you are taking gambling way too seriously or that it is stressing you out, it may be time to find another way to relax.
Gambling is a great way to pass the time and relax with the added chance of winning some money. By following simple rules on what to do and what not to do when gambling, you can ensure that it stays a leisurely, guilt-free, and stress-free pastime.