When Alexander Pope (a once-upon-a-time beloved and much-debated English poet) wrote these two lines, he might not have been talking about gambling but we, gamblers, certainly may take an important note from these lessons. What are those? Well, the first one reads as, “To err is human, to forgive, divine.” But when it comes to gambling, making multiple mistakes and suffering significant losses as a result is a clear indication of blatant ignorance. And you would never be forgiven if you lose, either. Pope then added, “A little learning is a dangerous thing” – I mean, surely you realize that all of your mistakes are the direct result of your deliberate illiteracy of online gambling techniques and strategies? A little to no knowledge of wagering real money at online casino games increases your chance of going bankrupt and losing everything. To avoid such nuisance, make sure you read till the end of this guide about the 12 major mistakes of online casino gamers.

12 Most Common Mistakes of Online Casino Gamers

Online casinos have been more and more popular since the outbreak of COVID-19, particularly in India. Furthermore, it is predicted that in the years to come, its power will only grow. Although this is excellent news for online casino owners, many gamers are risking their lives to place certain wagers. The only reason behind this is the lack of proper training, knowledge, and skill in the art of gambling. The regulation of gambling is primarily the responsibility of state and union territory authorities. Currently, only Goa, Sikkim, Daman, and Nagaland permit such activities. On the other hand, only Andhra Pradesh and Tamil Nadu have strict restrictions on online betting sites, primarily due to bankruptcy. People go broke as they hardly spin their wheels correctly. For this sole reason, you must exercise extreme caution in determining which errors to avoid. 

Source: The Economic Times

Choosing Unreliable Casinos

One of the most dangerous missteps online gamers take is to trust unreliable and fake online casinos. Real online casinos do not withhold money from you when you need to withdraw it, nor do they charge extra for deposits. These companies safeguard your money and identity with appropriate firewalls and payment options. They would also own a legal e-gaming certificate. Therefore, make sure the game is legitimate before spending real money on it by doing proper research. If you are not yet sure how to know if investing would be profitable or not, check out this guide to know your shot.

Avoid Reading Rules of the Game

If one day you decide to play roulette, you cannot expect to win immediately. Learning to manipulate the odds in your favor is the essence of gambling. The rules are the very foundation of any gambling game. So take your sweet time without rushing and learn the intricacies of that particular casino game. Do not fear failure or exhaustion. You will reach there one day.

Numerous Bets

We often see a little kid tugging on his mother’s shirt and whining loudly because he is not allowed to have ice cream for the fifth time.  His mother gives in and lets him have his way. The next day, the child is sick and whining more from stomach aches and fever. Imagine a gambler acting in that manner: throwing fits when he cannot win and increasing his bets only to keep losing. Yes, it’s known as ruining your life.

Gambler’s Fallacy

The Gambler’s Fallacy erroneously suggests that previous random events have an impact on subsequent ones, giving players the impression that results would “even out.” However, each event is independent; the odds remain the same regardless of previous results. This misconception can lead to flawed decision-making in games of chance and luck.

Unrealistic Expectations

Another impactful misstep online casino gamers often make is that they set unrealistic expectations while gambling. They tend to forget casino games are entirely chance-centric and anything is possible. You may lose even when you have come prepared. Having unattainable goals can severely affect your mental health and also disrupt your gaming career.

Martingale Effect

When playing online slots with nearly a 50/50 chance of winning, like roulette’s red/black, players frequently employ the Martingale Effect betting technique. The idea is simple: if you lose, you double your bet, and if you win, you’ll get back all of your losses plus an additional profit equal to your initial stake. While this is an excellent technique, it comes with risks. The majority of players do not own limitless funds, and the rapid rise in wagers can swiftly exhaust a player’s bankroll. Casinos frequently feature maximum betting limitations that prohibit players from continuously doubling their bets. If the limit is, let’s say, 600 units, you cannot bet more than the maximum bet. A rule is a rule.

Poor Bankroll Management

You have what we refer to as “poor bankroll management” if you are betting without thinking about your bank balance, not creating a clear budget for gaming, or not caring that you could lose your money. When playing online casino games, consider using e-wallets to maintain your budgets or betting limitations in simple calculations.

Dismissing the House Edge

Bettors may undervalue the casino’s House Edge, which results in less informed betting decisions. Your expected loss in a game where the house has a five percent edge is five units for every 100 units you bet. So before indulging in any online casino game, know the House Edge first and then start wagering.

Disregarding the Speed of a Game

Game speed is key to risk: roulette is slow with 40 outcomes/hour, mini-baccarat is fast with up to 200/hour, and blackjack varies. Fast games increase the risk even with low house edges. It is important to not underestimate the impact that the speed of a game can have on the stakes.

Gambling Intoxicated

Professional gamblers never indulge in high-stakes gambling while under the influence. You need to have a clean, sharp, and working brain to plan your next moves. This is one of the most frequent yet unnecessary errors a gambler makes.

Ignoring Promotions and Bonuses

When it comes to gambling, ignoring promotions and bonuses results in missed opportunities to enhance gameplay and possible profits. It can raise the cost of play and lower the total value. Players ignore tactical advantages that can modestly improve their chances.

Disregarding Customer Support

Customer support is the fortress of an online casino game company. Gamblers often tend to discard the option of calling customer support and solving their issues. Conversely, customer support is always at the users’s service. For example, at Kheloo, our customer support is there 24/7 to help and guide the user if they are facing gaming experience-related issues or software problems or have any queries regarding online betting. Our customer service makes sure a player never leaves dissatisfied, instead, our top-most priority is to focus entirely on user safety, security, privacy, and entertainment. We are here to help you, download Kheloo now to enjoy our hospitality.

Let’s Recap

Hopefully, you have learned your lessons by now. If not, let me repeat what we have just covered. When you are betting on online gambling sites and exposing your savings to them, make sure to choose a trustworthy casino, read the rules of the game thoroughly, avoid betting needlessly, refrain from believing in Gambler’s Fallacy, stop having unrealistic hopes, manage your bankroll properly, and always pay attention to the house edge and the speed of the game, to be safe and intact. Always be present when the customer support contacts you and resolve any problem with their help, stay updated on the rules of bonuses, and never play under the influence. That’s all, folks, now go ahead and place your bets.

FAQs

1. Why should I avoid registering with fake details at online casinos?

Ans: If you register with fake details, the online casino gaming company will not be able to recognize you while verifying. They are legally allowed to check all their users’ basic details. So you have a higher chance of losing money if you don’t put the right details.

2. How can choosing the wrong online casino affect me?

Ans: As we’ve already warned you, these wrong online casinos rob money and sell your details to third-party scammers. So be aware of this warning before spending any real money on these false companies.

3. What are the risks of not knowing my limits in online gambling?

Ans: The more you spend, the more you risk losing your funds. Be wise and choose a certain limit. Deposit a limited amount in an e-wallet and wager from there.

4. Why is it important to understand the terms and conditions of bonuses?

Ans: You must understand the terms and conditions associated with online casino bonuses since they specify the limitations on the use of the bonus and the procedures for cashing out your earnings.

5. Is there such a thing as a foolproof gambling strategy? 

Ans: The answer is no. Gambling is a game full of twists and turns. It is unpredictable and highly abrupt. You never know what’s gonna happen next so it is advised you keep learning without hoping to win every time with tricks and tips. They don’t always work against luck.