There are many small gambling mistakes that any longtime player will have learned to avoid; but for the novice, these mistakes will not only ruin your game, they can have life-long consequences. We know that you can’t control where the cards fall but keeping a sharp mind will ensure that you don’t overreact when things aren’t going your way or get overconfident during a winning streak. If you’ve noticed a pattern of bad choices when gambling online, this article will help keep you more aware the next time you log in to your favorite online casino. So here it is; the 6 most common mistakes to avoid at an online casino:
1) Playing at Unlicensed Casinos
The risk here may seem obvious but we still have a significant number of people playing at shady online casinos – and having their money stolen. Trusted casinos all have operating licenses at a state and federal level, and websites generally usually want you to know that they are licensed by the proper regulatory agencies.
Trustworthy casinos also go to great lengths to show that they are fair. One of the ways they do this is by hiring third-party auditing. There should also be an effort to deter problem-gambling, underage gambling, and other activity that is illegal, or questionable. Payment security is extremely important and should not be overlooked when joining an online gambling website.
2) Registering an Online Casino Account with Fake Details
A major reason people sign up to online casinos is because it provides a better chance of being anonymous than going to a traditional brick-and-mortar casino. This is especially true of public figures, but it can also mean any professional or family man who doesn’t want the world knowing what they get up to over the weekends.
Unfortunately, if you give falsified information when signing up, it can backfire when it comes time to collect your winnings. Some casinos require new players to submit additional documentation to verify identity, and if there happens to be an inconsistency in the information you provided, it could result in your account being permanently blocked. Also, in such cases, you most likely will lose any and all of your winnings.
3) Playing the Wrong Games
Not knowing anything about the game you’re playing can lead you to make devastating mistakes – and lose money in the process. The problem is that some players want to challenge themselves by playing for more than fun, even when odds are stacked against them. Some games should just be avoided unless you’re an expert. These include:
- Big Six Wheel
- Caribbean Stud Side Bet
- Baccarat Tie Bet
Blackjack is popular because it gives you the best chances of winning, but this is not true if you are unfamiliar with the best strategies. If you play by your “gut” or go as far as taking insurance bets, this may cause the casino to have a higher edge. Try games like craps or video poker for fairer odds, and whatever you do, don’t gamble when under the influence of drugs or alcohol.
4) Lack of Bankroll Management Plan and Betting Strategy
Not having a bankroll management plan is probably a precursor to problem-gambling, especially if you gamble often. You can call it having a strategy or knowing when to walk away; and it sounds simple, but many times people ignore their own advice and lose money. The thrill of winning big can make you push your luck and want to take bigger risks, and every risk you take can make you feel more assured of winning.
A common rule for casino players is to put aside half of their winnings, so that if you get gleaned later on, you still get to walk away with something. The other common strategy is known as “stop-loss”, and this is where you minimize the value of your bets whenever you lose. If followed, the stop-loss can make sure your money stays safe when you hit a losing streak.
Finally, the worst thing you can do at a casino is to gamble with money you don’t have. If you think losing actual cash is bad enough, you don’t want to start gambling on credit. This will get you in serious problems with your finances.
5) Don’t Believe the Gambler’s Fallacy
So, there’s a tendency for gamblers to believe that if one outcome happens several times, then the exact opposite of that outcome is likely to happen in the next few tries. This may sound reasonable but there is no real truth to it. So, for example, if a roulette ball lands on black for 7 consecutive rounds, does it suggest that it’s going to lack on red in the next spin?
Bear in mind that every spin made on the roulette wheel is a fresh, independent even, and no previous results would indicate what the future spin will look like. The is a mathematical design behind all the games offered in the casino, and results are not influenced by past performance.
6) Not Reading the Bonus Terms and Conditions Carefully
Welcome bonuses are very attractive and may cause you to rush to make a deposit, expecting the best possible deal. This is until you try to cash out and find that the other caveats become clear. Taking a few minutes to read the wagering agreements will save you time and energy, because then you will have more reasonable expectations. If the casino is licensed and trustworthy, they will spell it out clearly in the agreement, and won’t introduce new rules after your deposit. Always read the conditions for bonuses and the rest of the terms and conditions to avoid a ton of grief later on.
In addition, you should conduct a background search before signing on to an online casino before or depositing cash. You want to know everything about their reliability, especially when it comes to withdrawals. Luckily for you, people are more than glad to spread the word if they get swindled online, so this information should be easily accessible.