5 Mistakes that Reduce Your Casino Winnings and How to Avoid Them
Our love for gambling is something that dates back to ancient times. These days, the industry encompasses everything from the most luxurious casino resorts throughout the world to more modern versions of it through the technological advancements that spawned online casinos.
As a result, these platforms have provided a variety of new-age ways to win at gambling games, giving players all over the world new ways to maximize their chances of winning too.
However, whether you’re into physical casinos or their fancy digital counterparts, for players to have a better shot, they need to also know how to win. With that in mind, here’s a look at 5 common mistakes players make that reduce their winnings and how to mitigate them.
1. Ignoring Casino Bonuses and Promotions
This one mainly applies to online casinos as these usually offer generous welcome bonuses, promos, and other perks to attract players. While the rules and policies of how to maximize the benefit of a bonus can differ from platform to platform, it’s always a good idea to make use of them as they can help stretch your bankroll and even result in wins that are basically free since, in some instances, you may not have spend money to use them. Whether they work with free bets or spins, deposit matches, or other ways of providing an incentive like loyalty rewards, using them increases your likelihood of a win.
2. Overlooking Online Gambling Opportunities
According to gambling expert Vlad Grindu, although most states don’t cater to legal online casinos, players can still access them via offshore sites. However, players should be careful to only play at reputable sites that have been pre-vetted against crucial factors like their standards of safety, their payout policies, and fairness (source: https://www.techopedia.com/gambling/online-casinos/best-payouts). These two latter factors are essential as players need to be assured they have both a fair shot and proper access to their winnings when they do win.
Once satisfied that the platform chosen can be trusted, with most online casinos offering a wide variety of games, players often don’t realize that some games like slots may offer higher Return to Player (RTP) scores. Factors like this provide an indication of how often a game pays out and how much they pay out when they do. For instance, slot games that have higher RTP scores pay out more often but may pay out in smaller amounts. In contrast, those with lower RTP scores may pay less often but are programmed to pay out in higher amounts when they do.
3. Neglecting Game Strategy
Many famous casino games like blackjack and poker don’t just require luck but integrate other factors like a degree of skill and strategy. Learning to play these games well using tried and tested strategies can provide a slight edge, making it a little easier to win, or produce higher winnings under the right circumstances.
Approaching these games in ways that employ strategic playing styles can certainly help a player’s winning ratio depending on factors like how you manage your betting. However, luck does, of course, play a part too since the cards you’re dealt can make or break a winning hand. By learning basic strategies that are specific to the game being played, at best players can maximize their wins or, at worst, can at least minimize losses—making them useful either way. A
There are plenty of ways to learn basic strategies by reading guides. If playing at an online casino, most provide practice platforms that allow players to learn and perfect strategies without needing to bet real money. This can be very useful to take the pressure off while learning how to play a particular casino game well without needing to lose any actual money in the process.
4. Poor Bankroll Management
To get better at a good playing strategy, most enthusiasts will inevitably have to learn good bankroll management. This requires a mixture of basic arithmetic, psychological discipline, and some basic impulse control. It starts with initially deciding on a set bankroll to use according to your individual budgetary constraints. A good rule of thumb is to never wager more than you can afford to lose and to never dip into finances earmarked for other expenses. Once this is strictly adhered to, it then becomes a matter of how best to manage that bankroll. The strategy used from there to manage it can differ from game to game.
A good way to manage a bankroll to ensure winnings aren’t squandered is to set a win limit. This means having a set amount in mind from the outset of what you are willing to accept and having the discipline to cash out if it’s reached. One of the key principles of good bankroll management is also to adhere to specified betting sizes. This is crucial to avoid chasing a win—something many gamblers do if losses begin piling up and they become fixated on the idea of pulling it all back in one go.
5. Misunderstanding Different Games and Platforms
Any valid game at a trustworthy casino platform can result in a win. However, not understanding how to properly play a game or adhere to the policies of a specific site can affect how much you win or even if you win at all. For example, the proliferation of crypto casinos offers iGamers some unique perks like fewer regulations and a more private experience. However, to take advantage of this, players need to understand how cryptocurrencies work as these are used as payment methods on such platforms.
As a result, players may under or over-bet without understanding that crypto prices can fluctuate. Factors like these can determine how much a player wins or loses, making it imperative to understand the unique policies such sites may use and how to best take advantage of them.
