Losing online casinos is common. It shouldn’t be a surprise because that’s how gambling businesses work.
Casinos always have house edges, and players usually lose more money the longer they play. However, if you’re taking a beating faster than you expected, something must be wrong. It’s time for you to reassess your gambling activity.
Here’s a list of probable reasons you’re losing money hand over fist.
You Don’t Manage Your Bankroll
Losing the money you can’t afford to lose can be a huge financial issue. That’s why it’s crucial to have good bankroll management in every game you’ll play. This budget should include self-imposed money and time limits.
Setting a playtime limit is especially helpful for players who lose track of time and end up playing over an extended period, increasing their losing odds. To solve this, set an alarm clock or ask someone to remind you when to quit playing.
When it comes to money limits, there should be two: win limits and loss limits. Win limits help you keep your gains. However, remember that the longer you play, the closer you match up with the house edge. As a result, you’ll lose what you’ve won. The same logic applies to why you have to establish lost limits too. It’ll be explained more in the next part.
You Chase Losses
Players often do loss-chasing behavior with no loss limits. When they lose in a game and feel bad about it, they double their bet thinking it can make up for their previous loss. The problem is that they’ll just keep losing. As a result, they got stuck in an endless loss-chasing cycle.
Taking your losses too personally and obsessing about winning them back all drive you to chase them. Instead, play it cool to avoid an extended losing streak. In addition to segregating your bankroll, take frequent breaks. Doing so doesn’t only clear your head but also keeps you from betting for more.
You Rely on Martingale
The martingale system is based on the idea that no one can lose all the time. That’s why, with this strategy, players will keep doubling their losing bets until they win. And yes, it’s just another way to chase losses.
The Martingale system has its perks, though. After all, it’s a betting strategy for a reason. It can mainly help you to quickly recoup your lost bets. Plus, your profits will always equal your first bet every time you win. That means you lose nothing as long as you win. However, it’s best for players with a rather big bankroll since it depletes your funds faster.
Also, it’ll only progressively increase your bankroll if you keep winning. But, as stated, your odds are unlikely to improve the longer you play. That’s why opting for the Martingale system is another way to chase losses.
You Play At Unregulated Sites
One of the easiest ways to lose your entire bankroll in one fell swoop is playing at offshore online casinos. Even worse, if an illegal site stole your money after you connected your account to it, you couldn’t have any real legal recourse because you’re breaking the law too.
Registered real money live casino sites only have a two-phase registration process: registration and payment, all done through the casino’s encrypted site. In contrast, illegal sites often ask for your details multiple times. They might also ask you to transfer sensitive files in unsafe and unencrypted places. If you happen to experience this, run the other way!
You Choose Games With Low RTP
Return to player (RTP) is the average amount players can get from online and land-based casinos over a long period of time. It comes in handy when determining the odds of any casino games, which is an important step yet a bit too tricky to do.
Many beginners opt for games with lower RTP because they’re often associated with high-jackpot payouts, but it rarely happens. Opt for games with a high RTP instead if you want higher payouts. It also increases your chances of winning and getting a payout.
You’ve Overridden By Fun
There are two reasons why players play at casinos. First is obviously the enticing big jackpots. And the second big, bold reason is merely fun. The game’s enjoyment that keeps players in it is basically borderline addiction.
Studies show that the exciting real money live casinoscan spark our adrenaline and endorphins levels. These hormones give casino players a ‘high’ that they often want to hold on to, even during a losing streak.
Final Thoughts
It’s important to play casino games responsibly. As the old saying goes, when the deal is too good, think twice. Be sure to properly manage not only your financial health but also your optimal well-being.