We all know that the house has the advantage when playing at any casino, but there are ways some things you can do to reduce the advantages that they have. Here are some things you can think about when playing online next time that will help you limit the amount of money you can lose in a single session.
1) Set a Daily Deposit Limit – You might be surprised to know that the casino gamblers that lose the most money aren’t the ones that deposit huge amounts of money in one go. In fact, many of the biggest losers in casinos are the players that make many small deposits over time. The issue is when players lose their first deposit, their emotions come into play and they start chasing that money by doing things that they normally would not do. Many of the best casinos allow you to set a limit on your daily deposits which means that if you do not make money on the first deposit then you will not be able to continue to deposit. This will allow you a cool off time where you can come back focussed the next day with a much more clear mind. If your casino of choice does not have this option you could look for a deposit option where you can limit this kind of activity.
2) Set a Time Limit – One of the casinos’ greatest edges is TIME. The longer you stay and play, the more likely you are to lose everything. If you set a timer at the beginning of your session and tell yourself you will not play past it, you can help control your betting activity better. One of the reasons for this is the longer you play, the more tired and impatient you might get which could cause your betting patterns to change. It is better to play 10 very short sessions where you are most focussed and mentally ready than 1 very long one where you could lose focus and have much more erratic play.
3) Set a Win Goal – If you don’t set a realistic goal of how much money you want to win then chances are you never will win. Everytime you start a gambling session you should tell yourself at what point you will stop playing and cash out. You can always re-evaluate your goal when you reach it, but if you do you should at least cash out your original deposit and some to ensure that it is a positive session.
4) Set a Stop/Loss – Similar to setting a win goal, you need to go into every gambling session knowing exactly how much money you are willing to lose. This is one of the toughest parts about gambling, but you need great self discipline to hold yourself to your stop loss and walk away from the tables when you hit it.
5) Keep Track of Your Play – Every gambler should keep tabs on all their gambling activity. This will allow you to keep a running tally of whether or not you are in the positive or the negative (and by how much). Many gamblers don’t realize how much money they are actually using because they just keep depositing/withdrawing more from the ATM. Keeping these numbers in front of your mind might make you hesitate from making that extra withdrawal.
6) Play in a Positive Mind State – Playing in a sad or depressed state is one of the quickest ways to watch your money fly right into the pockets of the casino. The more alert and mentally focussed you are on winning, the better your odds are of actually doing so!
7) Don’t Chase Comps – Many players chase comps that they could have just purchased many times over with the money they lost gambling to try to get them. Unless you know specifically you are only a few points off a fantastic comp, you should always play to win, not to get a comp.
Good luck, have fun, and go win lots of money!