When it comes to gambling, it’s very easy to lose track of how much money is on the line. The constant ups and downs, winning and losing streaks, and the ‘gambler’s rush’ leave you in a strong emotional state. But before you let it all ride on Lucky 7, there are a few basic steps you should follow to stay in control of how much money you gamble.
How Much Money Should You Gamble?
To gamble in a real life casino environment is a high in itself. And when you win on a specific game or real money slots, that feeling can be exacerbated tenfold. But naturally (and the majority of the time), you are probably going to end up with less than you started, and when you are on that end of the scale, it can take its toll on a person emotionally, mentally and physically.
Whether playing in a live casino or an online casino, chasing after losses is commonplace for players of all skillsets. But many have sold their souls to the gambling devil over the years and lost everything doing that. This is why it is so important to set yourself boundaries and parameters when it comes to playing casino games, particularly where your bankroll is concerned. In this article, we are going to outline 5 tips which will help you prepare for your next trip to a land-based establishment, or your next sit down for a few games in an online casino without seriously jeopardizing your finances.
Practice for Free Before Playing for Real Money
This is something that live casinos do not allow, but if you are planning a trip there anyway, there’s nothing stopping you from logging onto an online casino to get a few rounds in first. Not only will this prevent you from losing any real money, it will give you a chance to build up confidence, skills and knowledge of the game before hitting the big tables. Practicing for free is still heaps of fun but comes with absolutely no risks – so why not?
Set a Budget before You Leave or Load a Game
The most important thing you should do before partaking in any kind of activity which involves spending money, is setting a budget. You’d do the same if you were planning a vacation or a party; and even Christmas requires some financial planning in order to stay afloat. When you go to a casino you might have every intention of spending 500 bucks max, but as soon as you hit a winning streak, all of that discipline can quickly go out the window – and before you know it – you’ve chucked your daughter’s entire college fund down the drain! Only take cash if you can, and never use credit to fund any gambling activities. You’ll quickly find yourself in a hole which will be very difficult to get out of.
Don’t Place Any Bets When You’re Steaming Drunk
Casinos make for some of the best nights out, so it’s completely understandable that people will have a few drinks while they gamble – especially if the casino is handing them out for free! But it’s important to know when enough is enough, as the consequences for gambling intoxicated have proven to be the worst mistakes ever for some unfortunate individuals. A glass or two or liquid courage is fine, and can make you feel more confident about your decisions, even when you’re playing online. But getting completely plastered is only going to end badly, so leave the sauce for the winning celebrations afterwards, or dwell on your losses by drowning your sorrows. Either way, just make sure it’s when you’ve stopped spending money!
Never Gamble with Money That Doesn’t Belong to You
Remember your daughter’s college fund that we talked about? We cannot emphasize this point enough! Too often have we heard horror stories about people losing their mortgage or entire life savings to tables and slots, and this has caused a never ending set of repercussions; not just for the gambler, but for their loved ones as well. When you’re placing monstrous amounts of money down (which isn’t rightfully yours to bet), you’re opening up a portal of problems which has resulted in people losing their house, marriage, kids, and has even pushed people to suicide in the past. Only spend money which is yours. That way, if you lose it all, the only person you can blame is yourself.
Use Your Intuition and Know When It’s Time to Quit
Our final tip is to know when to give up and leave the casino. It can be so easy to think you’re on a roll with a slot machine you’ve been attached to for the last hour. But you need to remember that casino games are always designed to work in the house’s favor more than yours. Sure, there have been cases when people have won multiple times because they’ve had some kind of ‘feeling’ about it, but nobody is a psychic or can foresee the results or outcomes of a game. Your “best bet” is to gain as much knowledge of the game you’re playing as possible, practice it, then make your decisions with a clear and clued-up mindset, so if you lose a couple of hundred, you’re not going to feel disheartened because you’d already banked on losing it in the first place.
If you want to know how much you can afford to gamble, the truth is, only you can realistically know. But it certainly pays to be aware of what can happen if you do end up spending more than you can safely part with. We can provide you with tips and cautionary advice, but we can’t place the bets on your behalf or manage your bankroll for you. Try to follow these tips, study the paytables or basic algorithms of the games you’re playing, and keep the check book and bank cards either at home or out of sight the next time you gamble. We’re sure you’ll thank your future self for it!