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5 Dumb Gambling Mistakes that Smart People Make

5 Dumb Gambling Mistakes that Smart People Make

Even professional gamblers can make stupid mistakes from time to time. These mistakes are mostly due to unnecessary confidence. However, as with any other business, when playing casino games, it is necessary to never distract attention and follow certain rules. Avoid making the following mistakes:

 

1)      Spending More Than Your Budget

This is a mistake made by newcomers and over-confident professionals. In all the strategy guides for casino games, you will see the following recommendation: Never exceed your budget. The scope of this recommendation is quite extensive. First of all, decide what your budget will be before you start playing. If you reserved 100 bucks for the night, play until you see the end of this budget. Even if you win, never forget your starting budget. Do not place big bets with the enthusiasm of winning. If you lose, do not deposit more money using your credit cards. Most importantly, do not play games with borrowed money. All of these mistakes will cause you to suffer both materially and spiritually. Never change your starting budget and know when you should leave the table.

 

2)      Playing a Game You Do Not Understand

The casinos are filled with exotic games. Most of them seem much more fun and profitable than classic games. For the same reason, they attract players. Being a master in other games does not mean you can win a game you do not know. Generally, such games seem very simple, but this impression is deceptive. The odds can rise very suddenly, and you may lose the game because of a rule you are not aware of. You can lose a fortune until you learn the game. For this reason, only play games that you know very well. Keep in mind that even the games you know may have many variations. For example, Baccarat has 3 basic variations, and although the main goal is the same, the rules are quite different. For this reason, professionals always examine table rules beforehand. In card and table games these rules are already written on the game table. Since you have a higher chance of winning in some variants (e.g. French roulette), it will be useful if you examine the table rules in advance. If you are playing in online casinos like Slotty Vegas Casino, you should review the pay tables to learn the rules.

3)      Playing While Drunk

Casinos are great places, and drinks are free. Actors in Hollywood movies always gamble while enjoying an exotic drink. All of this may seem like alcohol and casino games go well together, but the truth is the exact opposite. There is a reason why drinks are free in casinos: if your mind is blurred, you make stupid mistakes. Players who take unnecessary risks and place high bets are the favorite customers of casinos. The ones they don’t like order only dark coffee. Do not play games while drunk, even drinking a few glasses will affect your decision-making process. When you wake up in the morning, you can literally regret the previous night.

 

4)      Believing in Gambler’s Fallacy

Gambler’s Fallacy is a psychological term and affects every gambler sooner or later. We can say that it means believing in a situation that is simply not true. Let’s give a simple example: While playing a heads or tails game, let’s say heads is the result of the last 10 throw. Now, you will think that the probability of getting tails in the eleventh throw is increased, right? If you were going to bet, you probably would have placed your money into this outcome. We can expand this example: If you play roulette and the result is “red” for a couple of rounds, the chance of getting black has increased. If you have won a few hands when playing poker, you are likely to win the next hand too. We can duplicate these examples even more, but the problem is, these are all unrealistic assumptions. All casino games are based on the principle of recalculating probabilities each and every time. Let’s go back to the heads/tails game: When you throw the money into the air for the first time, you have a 50% chance of winning. This rate is the same for every time the money is thrown into the air. So even if the result is same for the last 10 throw, it still can be the same result for the 11th throw: The probability has not changed. Gambler’s Fallacy is the players’ self-deception. Your luck is always the same and never changes. For the same reason, tactics that suggest that you always have to bet on the same option are also useless. On the contrary, they can cause you to go bankrupt very quickly.

 

5)      Bluffing in a Card Game

We know what you think: Bluffing is an integral part of almost all card games, especially poker. It’s always been the case in all the movies you’ve seen so far. In the professional poker tournaments you watch, players always bluff. The problem is, bluffing is literally an art, and requires a very good understanding of your opponents. Professional players bluff because they know their competitors very well and have played hundreds of games with them. For this reason, bluffing while playing with strangers you have not met before is a dumb thing. Nobody will fold just because you raised the bet amount. Bluffing against a croupier is probably the dumbest thing ever: They are real professionals and you cannot fool them. Do not bluff if you do not know the people you are playing with: You will lose the game.

 

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This post was written by

- who has written 194 posts on GlossyNews.com.

Dexter Sinistri is a famously centrist writer who has worked as a Hollywood correspondent for a number of leading publications since 2005. Though once a photographer, Mr. Sinistri struck out as a writer on all things celebrity, and he likes to consider himself a tremendous asset to Glossy News, though by most accounts, he has fallen somewhat short of this effort.

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