Few people have the luxury of being able to walk into a casino or bookmakers and bet online as much as they want. For most of us, there are limits and mistakes can be costly if we don’t bet correctly. Here are seven mistakes you could be making when gambling that will be costing you money.
Playing Games You Don’t Understand
Newbies to the world of gambling often jump from game to game without having a real understanding of how the games are played or the subtle nuances of each one. But if you don’t have a solid understanding of at least the basic rules, you’re likely to be handing money over far too easily. Each game you gamble on should approached with caution and you should be prepared for what your expected losses will be.
Ignoring Strategy
Every casino game has been studied in depth by professionals and there are preferred ways to play. Many games you can gamble on have an ideal strategy, with even slot machines falling into the category of games that can be played with strategy. Learning the strategy is at the core of every gambler’s success and ignoring this element is a mistake.
Believing Gambling Myths
Gambling myths and superstitions can be fun and great for entertainment but believing in them and taking them to heart is a mistake that can be dangerous. By believing in these myths, you’re likely to ignore proper game strategy and that can cause a distraction that’s better avoided.
Ignoring Maths and Statistics
Once you’ve got the strategy of a game down, the next thing to learn is the maths and statistics behind a game. Many gamblers ignore this, and it can be a rookie error that leaves a player unable to push their game to the next level. Understanding gambling maths will make you a better player and minimise the chance of you making mistakes.
Not Practicing with Real Cash
With the wonders of the Internet, it can be all to easy to do your research online and feeling like you have a game down without ever having actually practiced it properly. But it’s a big mistake to gamble without having practiced with real money and it can result in a huge loss of your budget.
Ignoring Game Etiquette
Gambling etiquette is about more than just manners – some etiquette actually helps a game to run smoothly, while others help dealers to spot cheating or foul play. But breaking these rules will not only annoy other players, it might even lead to you getting questioned or thrown out of a casino.
Gambling without a Plan
Ultimately, the worst mistake you can make when it comes to gambling is going in blind and ignoring the importance of a plan. Your plan should include a budget, the games you want to play, a time schedule and accountability partners if you don’t want to risk getting in too deep further down the line.
