Loosing When Gambling: 5 Main Reasons

Lose-Money-When-Betting-on-SportsUnfortunately, gambling is an activity that includes both winning and losing. As long as a player manages to keep their winnings and losses at the same level, they’re good to go. However, sometimes it seems as if Lady Luck gave up on certain players. This, naturally, may be quite frustrating as well as hurtful to their bankrolls. Therefore, it’s important to know the 5 main reasons for loosing when gambling. More importantly, it’s crucial to remember them and deal with them accordingly.

Not Knowing the Rules

Believe it or not, thousands of players lose large sums of money playing games they don’t understand. Betting real money on games whose rules you’re not familiar with is a severe mistake. Lots of casino games such as blackjack and poker come with optimal playing strategies. Those who know these strategies have better chances of winning than those who don’t.

Additionally, players even make honest mistakes such as hitting on blackjack when the chances of going bust are huge. All these things are easily avoidable with a little effort. Namely, before playing a casino game, make sure to read its rules and get familiar with its features. Moreover, you can even try the game in free-play mode first to make sure you have all the necessary information.

Not Having a Money Management Strategy

Having a money management strategy won’t guarantee that you win every single game session. However, it will certainly help you maintain your playing budget for an extended period. A serious problem among rookie players is not dividing their bankroll appropriately. For example, they decide to place huge risky bets, which represent 40% or 50% of their entire budget.

Consequently, they quickly gamble away their bankroll without a real chance of winning. So, number one advice of all professional gamblers is to have a money management strategy. This, for example, includes allocating no more than 20% of your budget on a single bet.

Chasing Losses

Another colossal mistake among gamblers worldwide is chasing losses. Experts claim that after a losing streak, players often lose their concentration. Moreover, they become irritated, agitated and anxious. All these negative feelings affect their decision-making process. Naturally, this leads to generating even more losses, rather than winning back what you’ve lost. Therefore, after suffering a few games and your bankroll, make sure to stop right away. It’s always a better idea to wait a day or two and consolidate your budget. Once you do this, you can freely and safely enjoy your favourite casino game. In any case, you should always remember that chasing losses is something to avoid at all costs.

Lose-Money-When-Betting-on-Sports-2Gambling when Tired

Lots of players fail to understand the importance of a clear mind when playing at online casinos. Even the simplest games such as slots or instant wins demand a rested mind. Experts claim that when people are tired, they lost track of time and money. They merely keep playing one game after another, without paying real attention to what’s happening. Naturally, this is a serious issue for those that wager real cash on the games and consequently lose actual money. Hence, you should always make sure to play well-rested. The first moment you start feeling tired, you should stop the game and get some rest. After all, how do you expect to correctly use the optimal playing strategy if your brain is sleep deprived?

Placing Bets with Terrible Odds

Finally, the last one of the top-5 reasons for loosing when gambling is placing bets with terrible odds. This is especially common among rookie players as they’re not familiar with bet odds and house edge. Namely, bet odds show the chances of actually winning a bet. Therefore, lots of bets that offer extremely high payouts come with unfavourable odds.  However, players often want to win big and hope to have the luck to pull it off. Naturally, this happens extremely rarely, if ever. An example of such bets is the insurance bet on blackjack. Thus, it’s always a smart idea to check the odds of a sure bet before staking real money on it.

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