Archive for March, 2009
Whether you primarily gamble for fun or take it pretty seriously, the big wins are very satisfying. However, while most gambling fans will rightfully bank jackpot wins, many get carried away after good sessions and this can play against you if you don’t keep gambling with care. Check out the importance of playing smart after gambling wins and the tips for careful gambling…..
Gambling psychology
Winning at gambling can create a false sense of security in casinos or sports betting sites. The thrill of the win can make you feel invincible, and this can be a dangerous situation to be in - after all over-confidence is the time you can frequently risk more cash with each stake, chase losses thinking you are sure to win and generally hit bad luck after a lucky session. The other factor is winning big after hitting a losing run - for example, seeing your bank recover to cool levels after things were looking bad; that’s often when adrenalin can over-ride logic and again make you shoot for riskier gambling options. It’s important to chill out after a good gambling win - take your time and if necessarily take some time out away from the casinos or sports book.
Profit targets
One way to get around the problem of losing significant amounts of your Roulette gambling bank or profits is to gamble with modest profit targets in sight; that could be 100.00, 1000.00 or any sum relative to your budget and gambling stake level. Most serious gambling pro’s will tell you that it’s easier to win with small bets than it is playing with large gambling risk and a big pot of cash. This fact is also linked to the psychological element of gambling - so it’s advisable to set up your target and bank your profit if you manage to achieve it…….
As an example of this gambling approach, imagine you start with a bankroll of 100.00, with the aim of making a profit level of 100.00 before withdrawing your gambling winnings. Then imagine that of ‘x amount’ of time, you manage to hit the target 4 times, before hitting a bad sessions, chasing losses and blowing your gambling bank……
+100.00
+100.00
+100.00
+100.00
- 100.00
As you can see, at the end of this phase your gambling profit would be +300.00, and you could start a new bank of 100.00 with that amount of your profit. However, imagine if you’d never banked the profit and had instead kept all the cash in your gambling bank, and let’s say built it up to 800.00 in the same period of time as above. Although the 800.00 is higher than the profit target method, would you be able to keep your gambling composure when the bad session began?
For many gamblers the answer is no - because when the silly betting starts, it can be hard to resist using the bigger bankroll to chase gambling losses (in effect, you’re able to use a bigger risk level and have a false sense of security). This concept is something that’s most definitely worth thinking about.
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Tags: casinos, online gambling
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Online gambling in casinos or on sporting events is big business – and enjoyed by millions of global gamblers (both casual and pro). However, whether you're a serious gambler or even if you essentially gamble with small sums of cash and for entertainment, it makes sense to take your gambling for real and avoid the pitfalls that many gamblers find themselves in when playing in casinos or gambling on sports……….
Gambling budget planning
Almost all successful gamblers (and that includes casual gambling) use sensible budgets. Fundamentally, a good budget is a level of loss that you should be happy to spend having fun (in essence gambling can never get out of hand or become a problem). What's more, good gamblers know that it's possible to turn a small bankroll into big money (so earn the right to bet big!).
Staking plans
There are endless ways to approach gambling when it comes to staking – with many progressive staking strategies and weird and wonderful methods. However, level staking with a low bet liability is the mark of most high class gamblers – in addition to giving casual gamblers more control and potentially success gambling sessions. The keys are setting up a betting max that equates to around 0.5-1% of your bankroll; for example, bets of 0.50 with 100.00 or 5.00 with a 1000.00 bank. This strategy ensures a low relative risk to y our gambling bank, even during terrible sessions.
Profit targets
There are no guarantees with online gambling, and even for skilled gamblers it can make sense to play it safe by setting up some simple profit targets. For example, let's say you're a casual gambler who decides to play with a bankroll of 100.00, and thinks that reaching 200.00 by then end of the month would be an excellent target (not bad when you're essentially gambling for entertainment value!). However - many gambling regulars fall into the trap of reaching their target and thinking 'hmm, perhaps I'll set a new target of 500 before banking'. Now, while this is all very well, it can potentially be risky. Why? Well, simply put, gambling can be a psychological challenge, and when you build up tasty bankrolls, losing hurts – and the risk of chasing losses and eventually blowing your profit is a possibility. In contrast, by opting to bank and re-start with a small bankroll and setting a new modest profit level is frequently successful for recreational gamblers. There is no right or wrong way to enjoy gambling in a web casino or sportsbook – but this is something to think about!
Split gambling banks
There's also another interesting way to boost your chances of gambling success in online casinos or when betting on sports; 'split banks'. This simple idea simply means you take your budget and split it into at least two bankrolls (for example, 2 x 50.00 or 4 x 25.00). The key advantage is down to several factors:
- The law of averages suggests at least one bank will hit good luck
- It's impossible to blow your whole budget at once
- You can build up multiple successful gambling banks
- It's psychologically easier thanks to lower relative stake levels in each casino/sportsbook
These are just some of the sound online gambling tips – but they are the keys to always maximising your fun and minimising risk.
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Tags: casinos, casual gambler, online gambling