Typically, gambling advice focuses on what actions to take to enhance your chances of winning. While it's helpful to acquire knowledge on what you can do to improve, it's only part of the equation. To enhance your gambling outcomes, it's crucial to learn what not to do, as well as what to do. That's why I compiled a list of actions that every gambler should avoid.
1. Placing Bets You Don’t Understand
Betting on something you don't understand is a common mistake, whether it's a new casino game or an unfamiliar investment. It's important to have a clear understanding of how something works before investing money in it. This lack of knowledge can result in financial losses, as seen in the stock market and with Bitcoin.
When encountering an unfamiliar betting opportunity, it's best to hold off until you learn more. Fortunately, most gambling opportunities are explained online, allowing for quick research.
2. Taking Advice From Online Casino Losers
Experiencing a string of losses can be demotivating and painful, and it's natural to want to find a way to alleviate that pain. However, gamblers often make the mistake of seeking out new strategies to improve their chances of winning immediately after a losing streak, but they often get distracted or lack the motivation to follow through on those strategies once they leave the casino.
Being on a losing streak can make you vulnerable to the unsolicited advice of other losing gamblers in the casino who are eager to share their opinions on how to win. However, this advice is often misguided and can lead to even more losses.
It's important to seek out credible sources of advice outside of the casino, such as books, articles, videos, and private groups, to improve your gambling strategy. Most gamblers in the casino are losing players, so it's not wise to take advice from them.
Even when you do receive advice in the casino that sounds reasonable, it's best to research it further before implementing it into your strategy. In most cases, it's best to politely thank the person for their advice and move on.
3. Doubling Up
Later on, I will discuss gambling systems, including the doubling up system, where players attempt to double their bets after losing to recover their losses. However, this can lead to more losses and chasing of losses. To avoid this, set a budget and stick to it, or only bring the amount of money you're willing to lose. One technique is to divide your gambling budget into a separate pocket.
Here's a double up strategy: divide your bankroll into small parts, and make $10 bets in a game with a 1-to-1 payout. If you win, leave the original bet and winnings on the table, and double up again until you reach a predetermined amount. If you lose, start a new series of bets. A stop win at $320 is advisable, meaning you need to win five straight bets. Once you reach $320, put your original money back in your pocket and play with the winnings.
In the casino, many people believe in superstitions and use lucky items to increase their chances of winning. However, every gambling activity is based on factual mathematical principles, which means that results are predictable over the long term. For example, a slot machine with a 96% payback percentage will always make a 4% gross profit for the casino.
It's important to understand that short-term results are just random and cannot overcome math principles. Therefore, while you can keep your lucky items, remember that they cannot alter the outcome of a game.
5. The Perfect System
I used to enjoy reading gambling system sales pitches, but got tired of their incomplete or incorrect math. There's no system that can beat casinos; if one existed, casinos would stop offering the beatable game or go out of business.
Counting cards in blackjack is a common way to beat casinos, but they'll make you stop if they catch you. Don't waste time and money on gambling systems. Invest in good books to improve your gambling skills instead.
Keno may seem like an appealing game with its low minimum bet and potential for large payouts, but it actually has the highest house edge in the casino, often 20% or higher. This means that for every $1 bet, you may only receive 80 cents or less in return, resulting in significant losses.
While keno can offer longer playtime due to its slower pace, its large disadvantage makes it a game to avoid.
7. American Roulette
Most casinos offer two types of roulette wheels: one with a double zero space and a single zero space, and another without the double zero space. The double zero space significantly raises the house edge on the wheel.
On a double zero wheel, the house edge on bets is 5.26%, while a single zero wheel has a house edge of 2.7%. American roulette wheels have the double zero space, and European wheels do not. Some casinos offer lower minimum bets on American wheels to attract more players, but it's best to avoid playing on them. If the casino doesn't have a single zero wheel, it's best not to play at all.
8. Tips on Horses, Dog, and Games
People often share supposedly great tips for horse races, dog races, or sports teams. But if it's such a great tip, why are they giving it away or trying to sell it? The truth is, if these pick sellers were so good, they would make more money betting on games than selling picks.
Additionally, they could profit by convincing others to bet on other options, making their chosen winner more profitable. For these reasons, it's best to avoid hot tips on gambling and make your own decisions.
I previously mentioned the advice some blackjack players and dealers give to always take insurance. However, taking insurance is actually a side bet with a large house edge. It's triggered by the dealer having an ace showing, and it pays 2 to 1 if the dealer has a natural blackjack.
The problem is that the odds are actually 9 to 4 against the dealer having a natural blackjack, but the bet only pays out 2 to 1. This makes it a bad bet, and you should avoid taking insurance.
10. Gambling While Your Judgment Is Impaired
The term "impaired" refers to the weakening or damaging of one's judgment. While drinking alcohol is often associated with impaired judgment, it can also be caused by drugs, lack of sleep, stress, and other factors. Regardless of the cause, gambling with impaired judgment is unwise.
Clear decision-making is crucial for maximizing your chances of winning. Impaired judgment can lead to bad playing decisions, excessive playing, and high betting. Moreover, frustration and chasing losses are more likely when you are not thinking clearly.
By refraining from the items discussed on this page, you can improve your odds of winning. However, in the long term, you will likely still experience losses. Nevertheless, by avoiding the aforementioned practices, your losses will be minimized. By losing less, you can prolong your gameplay.