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Most Common Online Gambling Mistakes
Online gambling has some common mistakes that players make that are also common mistakes made at land-based, brick-and-mortar casinos, but there are some that are specific to just placing bets online. Here, we decided to cover both, giving you a list of the most common gambling errors. Some are easy to avoid, while others take a considerable amount of self-control. However, you can avoid any of these common mistakes and have the most successful run at the online casino possible, no matter which of the recommend online casinos Australia we have listed that you choose.
The Gambler’s Fallacy
The Gambler’s Fallacy is basically assuming that you are due to win despite the odds being completely random every time, which is especially true with online casinos. Just because the Roulette wheel hit five black numbers in a row doesn’t mean it’s due for a red number, because each spin has the same odds every time without fail. Play based on odds, not based on superstition.
Not Utilizing Strategy Resources
You are in the privacy of your own home, so there is no reason to feel self-conscious about using a Blackjack strategy chart or a Video Poker guide. They are mathematically perfect to get you the best odds of winning, and by not using one without memorizing it inside and out, you are putting pride over your bankroll. Big mistake.
Playing a Game Without Really Knowing How to Play
Most of the best software providers let you try out their games for free in demo practice mode. We highly recommend you take advantage of this, and it’s an opportunity exclusive to online gambling. In fact, the strategy you can develop will probably not even require you to open an account, and it will transfer to your land-based casino playing.
Betting More Than You Can Afford
This is definitely the number one most important gambling mistake, and it is also the hardest one to follow. Gambling should be treated as a way to relax and be entertained, not a way to make a profit. Set a budget, set a timer, and stop when you reach it or stop when it goes off. Also, know when to walk away when you’ve built up enough winnings. The longer you play, the more you will lose, because no matter what game you play, the casino has a mathematical advantage.
Not Knowing When To Fold
Pretty similar to the gambler’s fallacy, but this one applies to playing online Poker. It’s easy to get into the groove and not wanting to miss out on a hand, but if you follow your honed strategy and intuition, you will end up walking away with more money if you bet smart and less instead of on impulse and more. If you have a weak hand and fold, and it would have resulted in a win, don’t beat yourself up about it. That’s a rare instance, and you made the right move.
Never Cashing Out
When you have built up a good amount of winnings, make sure you withdraw it. When you leave it in your account, it’s extremely easy to just keep playing with it, and, again, the longer you play, the more you will lose. Also, withdrawing the money and forcing yourself to redeposit when you want to play again is a great strategy to make sure you are not betting too much.
We are by no way saying that you can’t have a few drinks while you play. Just know that the more your judgment is impaired, the more likely you are to make a bet you wouldn’t have normally made sober. This can very quickly burn a bankroll. You don’t want to wake up the next morning wondering what happened to your bankroll.
Taking Advantage of Casino Bonuses
It isn’t necessarily a mistake to play with casino bonuses, but you do need to be familiar with the rollover stipulations. If you do not like the idea of betting 50x your bankroll before you can withdraw your money, then it would be best to avoid the bonuses. What’s more, some of the bonuses only apply to specific games, which is another thing to look out for. If they apply only to Pokies, and you don’t play Pokies, you don’t want to take advantage of the casino bonuses. Otherwise, the casino will have every right to withhold your winnings until you reach that rollover minimum.