Tips for How Not to Lose Money Gambling
Why does it seem like some people are always lucky when they gamble? You know the type. They always seem like they win no matter where they go or what game they play.
An even better question is why does it seem like you always lose? You know the rules of the game and you have the same odds as anyone else. Why can’t it be your turn for once?
Even though there is no rhyme or reason behind who wins or loses, there are some things you can do to maximize your winnings and your fun while enabling you to stay at the table a little longer. These tips won’t guarantee you’ll win, but they’ll help you avoid being called a loser.
Determine Your Limits
Most people lose because they get so involved in the excitement of the game they don’t know when to stop. This can be avoided by planning ahead.
Before you ever step foot in a casino, figure out how much you are willing to lose. If your limit is $40, then only take $40 with you into the casino. Leave the rest at home or in your car. And don’t take your credit or debit cards with you. The temptation to spend more than your limit could be overwhelming.
The second part to setting limits is a little harder. Determine, in advance, how much you’d like to win. Be realistic. If you’d be happy walking out of the casino with $100, then set that as your limit. Once you’ve reached it, stop. Walk away. You may want to stay and keep playing since you’ve had so much “luck” but knowing when to walk out will help you hang on to your money.
Set Your Alarm
It’s not good enough to know how much you want to win or lose, you also need to set a time limit. You can’t play forever and you shouldn’t. All casino games favor the house. The longer you play, the greater your chances of losing. Set a time limit and stick with it.
Don’t Borrow Money to Gamble
If you can’t afford to lose money, then don’t play at all. The added stress of playing with someone else’s money is too much and it’s just a bad idea. No matter how lucky you think you are, don’t even think about it.
This goes for you, too. Don’t borrow money you had intended for something else – bills, groceries, rent. The only money you should be spending is the money you’ve set aside for entertainment because that’s all gambling should be. One of the signs of gambling addiction is spending money you’ve set aside for something else.
The only time I break the rule about not gambling with other people’s money is when it’s the casino’s money. The few times I’ve been lucky enough to come out ahead, I always put my initial bankroll away and play with the casino’s money. That way I’ve had an entire evening of fun on them. Even if I give them all of their money back, I’ve still had a great time and it didn’t cost me anything.
Take a Time Out
Don’t play continuously without a break. Most casinos are set up so that you don’t know what time it is. There are no clocks and you usually can’t see outside because of all the mirrors and glitz. And while you’re playing, the adrenaline kicks in so you could probably play non-stop for hours on end. Don’t. This is a bad idea.
When you start to get tired, you start making bad decisions. That can lead to losing money very quickly.
Instead, get up and take a walk. Go get something to eat. Take a nap, if you have to. Take a break and come back to it later. (Or just go home!) You’ll come out in the long run if you don’t allow your body to start working against you.
Don’t Drink While Gambling
Casinos are famous for providing their customers with free cocktails. That seems like a generous gift and, in fact, part of the allure of gambling at casinos. You can almost start to feel like a high roller.
Drinking alcohol while gambling is a bad idea. The bottom line is that the casinos give you free drinks because they know that after awhile you will start to lose your inhibitions and that means you’ll stay at the table longer and start making bigger bets and taking larger risks. In the long run, the alcohol bill is nothing compared to how much they take in from gamblers who drink.
Stay away from alcohol while gambling. Drink soft drinks and buy yourself a cocktail with your winnings.
Don’t Gamble When Stressed or Emotional
It’s easy to lose money when you’re not in the right frame of mind. When your mind is preoccupied with other things, you lack the focus required to play the game to your advantage. This leads to poor judgment and critical mistakes.
It’s better to play intelligently than emotionally. You’ll come out ahead when you do.
Do Other Stuff
Gambling is fun – once in awhile. It’s a great form of entertainment – every so often. Don’t get caught up in a lifestyle of gambling. It’s easy to become addicted to anything if you spend too much time in pursuit. Gambling is no exception. In fact, the immediate gratification and positive reinforcement that gambling provides makes it and extremely addictive and dangerous activity.
You could argue that focusing on one thing can help you become better at it. The more you practice gambling the better you will become. Don’t fall into this trap. Spending time on only one thing creates an imbalance in your life. Find other activities that you enjoy and look at gambling as something you should do once in a while.
