How often do you gamble and end up with more money than you started with? If you’re like most gamblers the answer is too often. But you can take a few simple steps to change your fortunes.
All you need to do is learn why you’re losing and find out what gamblers who are winning are doing that you’re not doing. That’s why I put this article together.
Here are 6 ways to stop losing when you gamble. Nothing you do is going to eliminate losing 100% of the time, but you can stop losing as often, which means you can win more often.
1 – Be Careful Which Games You Play
The games that you play when you gamble are directly linked to how much you lose. The games aren’t the only variable that’s involved with how much you lose, but they play a big part.
If you bet $5,000 while playing slot machines you might lose around $500. But if you bet the same $5,000 playing real money blackjack, you might only lose around $500. Many gamblers think this is all because of luck or chance, but only a small part of your results over a short time period have anything to do with luck.
The fact is that some gambling activities make you lose more than others. And how much you lose is based on how big or small the edge the casino or other gambling establishment has.
If you know how to use the right strategies, there are even some gambling activities that give you the chance to win. You’re going to learn more about some of these activities in the last 3 sections in this article.
On the other side of this, it means that some gambling activities are set up so that it’s impossible for you to win. Yes, you might win a few dollars every one in a while, but overall you’re going to lose. This is why you have to be careful about which gambling games you play.
2 – Use Your Bankroll
This might sound a little strange, but you have to use your bankroll if you want to lose less when you gamble. Your bankroll isn’t going to make you a winner by itself, but you can use it to help you lose less and/or win more.
This means that the most important step is to have a bankroll. This is a simple thing to correct if you don’t have a bankroll. Simply start a bankroll now. You can start with whatever amount of money you have for gambling, no matter how much or little you have. And you can add to your bankroll over time if you want.
The main way you can use your bankroll to stop losing so much is by using the size of your bankroll to set how much you’re willing to risk at 1 time or on each wager. If you never risk more than 10% of your bankroll on any gambling trip, you’re protecting your bankroll and limiting your potential losses.
Once you learn how to win you can use your profits to grow your bankroll. Until then, you’re probably going to have to add money to your bankroll when you get paid or create cash in some other way.
3 – Have Realistic Expectations
You need to understand how winning and losing works when you gamble. Until you understand why you’re losing, you can’t form any type of realistic expectation for your results.
In the first section I mentioned that gambling activities have a house edge most of the time. When you’re gambling against a house edge you’re going to lose most of the time and in the long run.
If a gambling activity has a 5% house edge, it means that over time you’re losing $5 of every $100 that you risk doing the activity. So a slot machine that has a 5% house edge is going to take roughly $50 out of every $1,000 that you run through the machine.
This also means that if you’re gambling on this slot machine you can’t realistically expect to win.
The answer to this problem is identifying the gambling opportunities that have the smallest house edge and the activities where you have a chance to get an edge. When you gamble with an edge it means that you can realistically expect to make money. The next 3 sections cover gambling activities that you can play with an edge.
4 – Blackjack Experts
Did you know that some blackjack experts can play with an edge? These experts have figured out how to make money playing blackjack, while everyone else is losing.
It’s not an easy path to become a blackjack expert, but it’s not impossible. In fact, I can tell you exactly what you have to learn to do it.
The first step is becoming a master of the rules for blackjack. It’s not enough to just know how the rules work. You have to know what each blackjack rule is and how it changes the house edge.
The next step is to become a master blackjack strategy player. You have to know exactly how to play every hand the best way every time.
After mastering the first 2 steps, the final step is becoming a master blackjack card counter. You have to be able to count cards perfectly without getting caught.
If you can master these 3 areas you can become a blackjack exert and win. Instead of giving the house a 1 to 3% edge, you can gamble with an edge of .5 to 2%.
5 – Poker Without Busting
The next gambling activity that you can play with an edge is poker. This isn’t the table games based on poker close to the blackjack tables. This is the poker games found in poker rooms. These games include Omaha, Texas holdem, and 7 card stud.
Poker table games like these are played against other gamblers instead of the poker room. The poker room takes some profit from each hand, but this is a small percentage. This gives you the opportunity to win more than you lose.
Just like becoming an expert blackjack player, becoming an expert poker player is hard. But it’s possible if you follow the right steps.
The main thing you have to do is learn everything that you possibly can about poker strategy. You need to read about strategy, watch things about strategy, practice using strategy, and learn how to use strategy to take advantage of players who don’t use strategy.
While becoming a master poker gambler is difficult, once you do become a master you can make money gambling for as long as you want to play. Even if it takes you a few years to master poker, it’s an investment that can pay off for years to come.
6 – Master the Art of Handicapping
The final gambling activity that you need to know about that you can do with an edge is using handicapping. You can use handicapping strategies to bet on sporting events or racing, like at horse tracks or dog tracks.
Handicapping is simply using the information that you can gather to predict which teams or horses are going to win. When you learn how to handicap effectively you can make money placing wagers.
Becoming a master handicapper is hard, but just like with blackjack and poker, it’s possible.
The best way to start learning how to handicap is picking an area to focus on. You can focus on NFL games, or NCAA basketball games, or horses at a track near you.
Learn everything that you can about the area you decide to focus on. Spend as much time as you have free digging into statistics and details about every team and player in your sport or every horse and jockey at the track.
You can’t afford to skip anything. The more knowledge you build, the better your chances of winning using handicapping. Eventually you’re going to learn how to start winning more wagers than you lose.
If you want to stop losing so much money when you gamble you need to start being picky about what gambling activities you participate in. Most real money gambling activities are so stacked against you that it doesn’t matter what you do.
You have to learn enough about every gambling activity to be able to set realistic expectations. You can hope to win, but this is an unrealistic expectation for most gambling activities.
Your 3 best options if you want to win when you gamble are learning how pro blackjack players gamble, learning how pro poker players gamble, and mastering the art of handicapping in either sports gambling or horse racing.
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. …