Gaming Winning and Losing, Gamblers’ Money Management
Casinos, Chip Tricks, Poker Cheating, Poker Room, Straight Add commentsGaming is all about winning and losing, so it makes sense to manage your money effectively. It is very easy to get carried away by the excitement, and lose your stake. By understanding the rules of the game, the odds paid, the chances of winning, and when to quit, players can ensure their casino experience is pleasant.
Gambling should be treated like any other form of entertainment. Expect to spend your money and have a good time doing so. Unfortunately most gamblers not only want to win, they actually expect to win and can take it extremely badly when they lose. Once the initial stake has been lost, they attempt to get it back by making increased bets. Most gamblers do not keep records of how much they win or lose. Big wins are fondly remembered, while losses tend to be forgotten. Even professional gamblers can delude themselves into thinking they either always win or break even.
Staying Solvent
- Take care of your chips and money, and beware of criminals who use the the distraction of the games to pick pockets and snatch chips.
- Only exchange chips or money with casino staff. There may be a queue at the cash point but at least you will be sure you are not being passed counterfeit money or chips. Ask for big wins to be paid by cheque.
- Only bet money you can afford to lose. If you gamble regularly, set a budget for gambling and stick to it. Limit the amount of cash you take to the casino and leave cheque books, cash cards and credit cards at home if you think you will be tempted to use them.
- Many casinos have cash machines (ATMs) on the gaming floor, making it easy to obtain money. Avoid credit facilities. If you haven’t got it, don’t spend it!
- Learn how to play the games by reading the rules provided by most casinos. Most players do not learn the rules until something goes wrong.
- Rules of play may differ in various countries so be sure you understand the rules where you are playing. If you need anything explained, speak to a casino manager - do not rely on the advice of other players.
- Understand the odds and compare the true odds of each game to the odds paid by the casino. Some games offer better value than others. Each game has a variety of bets, often with different house advantages. On some bets this is so high the bet is not worth playing. Find out the house advantages for individual bets before you begin playing.
- Although many games rely on luck, in blackjack and poker, the outcome can be influenced by skill. If you play card games, practise them at home. Novice poker players are a great source of income for professionals, as an inexperienced player is no match for someone with years of experience.
- Many casinos offer regular lessons to explain the games and it is worth attending these. Watch other players in action. It costs nothing to be a spectator and a lot can be learned from experienced players.
- Don’t forget that winning bets on roulette are left to ride. Many players leave the table and forget they still have a bet on the next spin. It is usually left to ride for three spins. A bet straight up on a number is capable of winning 105 chips before it is removed. If you do not claim your winnings you will lose them.
- Take account of the additional costs involved in visiting a casino. Transport, tips, admission charges or membership fees, refreshments and other non-gaming activities, such as shows, cinemas, shopping and sports facilities, can add up if costs are not monitored.
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