Playing online casino games can be fun, but not so much if you are losing all your cash. After a few hours of gambling, you end up with no money and ask yourself how this could have happened. Here is a list of eight common reasons why gamblers lose money, and how you can avoid them:
1. You didn’t pick the best online casino.
There are so many online casinos, it can be hard to tell which ones are legitimate and which ones are not. When deciding on where to gamble, keep in mind that a legitimate casino offers games that give you a fair chance to win and will pay out your winnings within a prompt amount of time.
Pick an online casino that has a good reputation and is well-established. To find out what other players think, do some research by reading customer reviews. Also, use your instincts. If an online casino doesn’t look professional or something seems wrong, don’t take the chance. Keep browsing and you will find a good one.
Once you have picked an online casino, play only a few games just to test it out. See how you enjoy the website. You can also talk to customer service and see how friendly they are. Finally, request a payout of your winnings and see how long it takes to process.
To help figure out which casinos payout the fastest, see if the casino states how much they have paid out overall. If the amount is low, then they probably don’t have any high payouts. The best casinos are able to payout the same day.
Did you know that approximately 90 percent of gamblers stopped playing in real casinos because they opted to gamble online?
2. Payout percentages are not the best.
Another factor when deciding on what online casino you want to play at is how big the payout rates are. The difference in a few percentage points can translate into thousands of dollars depending on how much you play and win.
For those who are not aware, payout rates are called the RTP% (Return to Player percentage) payout information. They are usually calculated by reputable auditors who test the casino’s software. After doing their calculations, they can determine how much money the games are paying back in winnings.
For example, at VIPCLUB777, they offer higher payout rates. This means more money is returned to customers through winnings. Most casinos tend to have a payout rate between 93 and 98 percent.
Usually, if an online casino has a great payout rate, they will want to flaunt it to draw in more customers. If it is difficult to find their payout rate, there is a good chance they are hiding it for a reason.
3. You’re still learning.
All gamblers were new to the game at some point. If you really want to make money, start out by focusing on one game only. Try out a variety of games at first to figure out which one you like the best. You are better off picking a game of skill, as you will see. Then learn how to become a master at it.
A great place for anyone to begin is by reading books regarding strategies on how to win. You can also check out resources on the internet and ask friends for advice. The more you know, the better.
A lot of online casinos will permit players to gamble in a demo mode. Usually, this allows you to play all of the games using fake money. It is a great way to get used to how online games work.
4. You were playing games of chance.
Although it is totally possible for you to win a ton of money on games of chance, such as slots, roulette, and baccarat, it is more up to luck, rather than skill.
Some games of chance have better odds of winning and others have bet types which can payout higher. So, if you want to continue to play games of chance, do your research and place calculated bets to increase your odds.
You have more control when playing games of skill. These include blackjack and poker. Make sure you know how to play before getting too involved. Without a good amount of practice, you can lose all your money pretty easily.
It has been shown that blackjack is the game where people win the most money. Read as many guides and tips as you can find to help you play the odds.
5. You’re not taking advantage of rewards programs.
A lot of casinos will give you extra benefits for being a loyal customer. Programs will vary by the casino, but usually, you can earn points which can be redeemed for free plays. Why gamble with your own money if you don’t have to?
Good loyalty programs have no membership fees and can include cash bonuses, free gifts, bonus money back on every bet you place, special promotions, exclusive jackpots, among many other perks.
6. You’re betting too much.
Yes, if you bet more, you will win more. But with one bad game, you could lose your money a lot quicker than you were expecting to. Even though you might not win as much money when betting lower amounts, you probably won’t lose as much, either. This also allows you to play and enjoy the games for a longer period of time.
7. You continue to play to recover your losses.
It may sound logical in your own head to continue to gamble to make back the money you lost, but it’s not. The game has no idea whether you are winning or losing. The odds are still the same as they have always been. It’s better to walk away and come back another time after you have taken a break and cleared your head.
8. You let your emotions get involved.
Whether we like it or not, sometimes we let our emotions get the best of us. When playing games of skill, this can be a problem for a couple of reasons.
If you can’t control your anger or tension, this can impair your judgment. It may cause you to act in ways you wouldn’t normally. If your emotions conflict with the logic of the game, you are more likely to make a bad call and lose.
Greed can be another emotion that causes gamblers to lose. People can develop an ego and when playing a game like poker, this can lead to your downfall. If you think you can bluff your way through, you will soon find out the hard way that you are wrong.
If you try to implement these eight elements into your gambling from now on, you’ll probably have a better chance of winning more often. To help narrow down what game you decide to master, you should take a look at the following odds for winning at each game:
Blackjack – Odds: Chance of Winning Approximately 44-48%
In many online casinos, the blackjack dealer has only a one percent advantage over the players. That means blackjack has the best odds of all the online casino games. It’s also one of the easiest games to learn, which is why it’s one of the most popular table games in casinos.
Craps – Odds: House Edge of 0-16.67%
Craps can also have odds of about 50/50, but the one requirement to craps is understanding all the different ways you can place a bet. The bet you place will considerably impact your odds of winning or losing. If you want the best odds, stick to Pass/Come and Don’t Pass/Don’t-Come bets.
Roulette – Odds: Chance of Winning 1 in 36 to Approximately 45-47%
The odds are about the same on roulette if you stick to bets on red/black and odds/evens. However, the huge payouts come when you hit a specific number. Of course, that gives you only a one in 36 chance of being a winner.
Another thing to find out is whether the roulette wheel has a 00 or not. Roulette wheels with just 0 give the dealer a 2.7 percent edge while wheels with 0 and 00 increase the edge to 5.26 percent.
Poker – Odds: Depends on the Game and Skill
The odds for poker vary based on which game you are playing and who you are playing against.
Slots – Odds: 2-15% Edge for the Dealer
Since the skill level and stakes are generally low with slot machines, the odds are very high. With most slot machines, if you place the maximum bet it will increase your odds of winning.
Wheel of Fortune – Odds: House Edge of 11-24%
The game with the worst odds is Wheel of Fortune. Choosing which panel the Wheel of Fortune will land on works to the house’s advantage. Wheels that have a $1, $5, $10, $20 and Joker will give the house an 11 percent advantage for $1 bets and a 24 percent advantage on Joker bets.