3 Common Mistakes When Betting Online

Gambling should be nothing but fun. But if you expect a brainless activity, fun is the last thing that you are going to get from it. The mistakes we are about to discuss are common because it’s easy to make them. Thinking, planning, researching, and knowing the game you play is the only way to escape the pitfalls. Without wasting any more time, let’s jump right into the three most common online gambling mistakes and how to avoid them.

Bonus Misunderstood

Casino bonuses are a marketing trick! Rule number one: never trust the big and so damn inviting bonus lines without reading the fine print that comes along. When you lack experience, it’s super easy to just spot the huge welcome offer and without any further thought, to make a deposit. The terms and conditions section is rarely so attractive as the seducing cash amount but it’s always there! And it’s not like you have to read a molecular physics book, it’s just a few short paragraphs and these are the key elements to be considered:

  • wagering requirements – how many times the bonus amount must be wagered for any withdrawal to become available;
  • validity period – how much time you have to fulfil the requirements;
  • game contributions – which games contribute to the requirements;

Bad Bets vs Good Bets

As you know there are bets with terrible odds. Ironically, they are often the most tempting ones. For example, how good would it be to bet on a single number on roulette and hope for the 35:1 payout. Here is where we tend to trust in lucky numbers, lucky days any other type of superstitions. But don’t worry! This is how the human brain works, it’s normal. We always hope for a miracle and more easily say ‘but what if I do win’ rather than ‘but what if I don’t’. Doing that occasionally wouldn’t hurt your balance, however, placing such bets on a regular basis, is a guarantee for a bankrupt in the long run. If ever in doubt, here is a list of the most terrible odds you could ever make:

  • insurance or any side bets on blackjack
  • single-number bets in roulette
  • all keno bets
  • tie bet at baccarat
  • progressive slots

Chasing Losses

Now, this is one of the hardest mistakes to avoid. We all know the feeling of a losing streak and the high hopes of turning it all around with the next bet. Or maybe the next-next? It’s a recipe for disaster. No one likes to lose, and everybody likes the rush of excitement when wining. If ever in this type of situation, make sure you accept that losing is always an option especially with games that have an inbuilt and inevitable house edge. Practice self-discipline, make a bankroll management plan, set a daily limit or whatever works for you! But most importantly, stick to it and don’t find excuses to ever break your safety plan.

So, I guess, this is it! I’ll leave you with these 3 for now. Hope you’ve found it helpful and you’ll take care to stay out of the above trouble.