6 Things Most Gamblers Never Consider

Casino Floor with Slot Machines and Table Games

If you want to be a profitable gambler, you can start doing what profitable gamblers are doing. After all, imitating a winner could only yield better results.

But this might not be the best way to start. The best place to start is learning how to think like a profitable gambler.

It probably doesn’t come as a surprise, but losing gamblers don’t spend much time thinking about gambling at all. Only profitable gamblers spend a lot of time thinking about gambling and what they have to do to win.

This article includes six things that most gamblers don’t consider before they play casino games. While this isn’t a complete list, it’s a good place to start.

Losses Per Hour

In the next section, you’re going to learn a little more about return percentages. So, if you’re not sure what they are, there’s no need worry. Many gamblers focus on return percentage and make all of their gameplay decisions based on the game that has the highest long-term return percentage. This is a smart way to gamble, but it’s not the best way for every gambler to make decisions.

If you have an unlimited bankroll, you should base every gambling decision on maximizing your return. But I don’t know anyone who actually has an unlimited bankroll.

When you have a budget to consider, you need to think about how long you can play and how long you want to gamble. You might be able to gamble longer by playing casino games that have a low house edge.

For example, the casino where you’re playing has blackjack games but the minimum bet amount is $20 a hand. The casino also has a keno game that draws every 10 minutes, with $1 tickets available. The blackjack game has a return of 99% and the keno game has a return of 80%.

The blackjack game clearly has a superior return percentage, but you’re working with a $100 bankroll. Your expected loss in the blackjack game per hour is around $14. You’re not even going to risk $14 an hour playing the keno game.

You should always consider the return percentages, but you should also always consider how much money you’re losing every hour.

Fun verses Return Percentage

I know many gamblers who have a single goal when they gamble. They want to have fun. Of course, they want to win too, but they’re determined to have fun whether they win or lose.

The truth is that sometimes I envy these gamblers, because I can’t gamble for fun. I’m always looking for an edge and trying to figure out ways to squeeze and extra .1% from a game. I hate to lose, so if I’m not winning I’m not having fun.

To be clear, having fun is a good goal. But even if you’re only doing it for entertainment, you can still play games that have a high return percentage.

Woman With Arms Outstretched Over Her Head Facing a Casino Floor

Plenty of gamblers have fun playing slot machines. I can understand the attraction of these games, but I rarely play them because of how the numbers add up.

Take a few minutes to find return percentages for the gambling activities that you do now. Then, take a look at the return percentages for similar activities. You should have fun, but there’s no reason to pay more for your fun than you have to.

Miscellaneous Costs of Gambling

When you look at how much money you lose when you gamble, do you consider anything other than the losses? Most gamblers don’t consider any miscellaneous costs, but they can add up to quite a bit.

If you are already tracking how much you lose when gambling, you’re doing better than most. A lot of gamblers have some idea of how much they lose, but they don’t track it closely. I think that most people don’t track their losses accurately either because they’re afraid that if they know how much they’re really losing, they might have to stop.

The other thing to consider is that every cost isn’t necessarily monetary. In business, there’s a concept called “opportunity cost.” Opportunity cost is basically a way to try to determine what you can’t do because of something else you choose to do.

The easiest way to see this is by looking at time. If you spend four hours gambling, it means that you can’t do something else with those four hours.

You also need to consider how much money and time you spend getting to where you gamble and getting back home.

Using a Bankroll

I know a lot of gamblers, and very few of them use a bankroll for their gambling. I also know a few winning gamblers, and they all use a bankroll and track their wins and losses religiously.

Simply using a casino bankroll and tracking your wins and losses isn’t enough to make you a winning gambler. But it’s extremely difficult to be a winning gambler if you don’t do these things.

If you don’t know how much you win or lose, how can you know where you need to improve?

Casino Chips Stacked on Poker Table, Poker Cards Spread Out

The other reason why using a bankroll is important is because it’s the best tool you can use to make sure that you can gamble as long as you want.

A bankroll helps you determine how much you should bet in every situation, and it’s also useful once you learn how to make a profit because then you start using your bankroll more like an investment.

Using Limits for Cost Control

While they don’t think of it this way, most gamblers use one type of limit. They use a stop loss limit. The problem is that they don’t use it the right way. They simply gamble until they run out of money.

You can use many different types of limits to help you when you gamble. And just about every type of limit that you can use helps you control the cost of gambling.

But you don’t have to be a losing gambler to use limits in a helpful way. Even gamblers who know how to make a profit in the long run can use limits to help them win.

A loss limit is simply the maximum amount you’re willing to lose during a gambling session. Like most other types of limits, a loss limit needs to be determined before you start gambling.

A time limit works in much the same way, but you set a time limit on your play. You can also use a stop win limit to make sure that when you get ahead, you don’t keep gambling and lose what you’ve won.

If you need to get control over how much gambling costs you, start using limits. These are just some tips for using self-control while gambling.

Strategy

The most important thing you can do if you want to start getting better gambling results is start using strategy. Most of the gamblers I know never think about strategy. They just want to gamble to get the rush, and they hope that they’re going to win.

On the other hand most winning gamblers think differently, and don’t hope about anything. They know what they have to do to win, and this starts with knowing the best strategies.

Man in Suit Thinking With a Casino Cards Background

If you don’t know the best strategy for the games you play, you can learn them. You might find that the game you’re playing doesn’t have strategies that you can use. You might need to start playing a different game if you want to profit.

Gambling strategy isn’t always easy. But it’s worth the effort to master as many gambling strategies as you can. Because even if a strategy doesn’t necessarily make you profit, it still makes your losses lower.

Our Final Thoughts

If you want to continue losing when you gamble, you don’t need to change anything. But if you want to win or improve your current results, you need to start thinking like winning gamblers.

Having fun needs to be a secondary consideration when you gamble, following a more important goal. The first goal needs to be doing whatever is necessary to win. This starts by taking a deep look at how much money you lose every hour on each game you play.

You also need to start watching the miscellaneous costs associated with gambling. You need to start using a bankroll and specific limits for cost control, and use strategy in every gambling activity.