You can probably come up with a list of at least 25 reasons why online casino gamblers lose money. But some things that these gamblers do tend to cost them more money than others.
In this article, you’re going to learn the top six reasons why you’re probably losing more money than you should when you gamble in online casinos.
By the end of this page, you’re going to know what you’re doing wrong and what to do instead. But don’t feel bad, because the odds are good that nobody has ever told you about these six mistakes people make when gambling online for real money.
The Online Casino Speed Kills You
You hear about things that are called silent killers in different walks of life. Smoking has been called a silent killer. Sitting at a desk all day has also been called a silent killer.
In online casinos, there’s a silent killer for your gambling bankroll. And this is something that most online casino gamblers consider a good thing. That’s what makes it even worse.
When you play online casino games, you can play as fast as you want. In land-based casinos, the only games that have this feature are slots and video poker games. But when you play in an online casino, all of the games are digital.
If you’re like most gamblers, you probably enjoy the action. So, you tend to want as much action as you can get, and you play as fast as the game allows.
This does a good job of giving you the action that you crave, but it kills your bankroll. The basic fact is that you lose more when you put more money at risk. When you play casino games too fast, you put more money at risk.
What all of this means is that you lose more money when you play faster, and this is why the speed on online casino games is killing your bankroll.
Bad Casino Bonus Offers
Here’s another thing that most online gamblers think is good that can actually be bad.
Getting an online casino bonus to play one of your favorite games online always looks like a great deal on the surface. But when you dig into bonus offers a little more, you can quickly see that most of them are worse than not getting a bonus.
The thing that makes the difference between a good and bad online bonus offer is what you have to do when you accept the offer.
Look for how much money you’re required to risk in the rules. This is almost always a multiple of your deposit amount and the bonus amount. The higher the multiple is, the lower your odds of winning any money.
I still accept a few online casino bonus offers, but I pass on most of them. They’re not as good as they look at first glance.
You Play Online Slots and/or Keno
I could get into each of the common online casino games, and you should do your own research in this area, but there are two types of online casino games that are worse than the others. If you play either of these games, you’re losing far more money than you need to.
Online casino keno games are the worst possible games you can play. The casino’s edge is over 20% on keno games. This means that for every $1,000 you risk playing keno, you’re losing $200 or more.
If you compare this to a good blackjack game with a casino edge of 1% or less, you can see how bad keno is. For the same amount of risk, you lose around $10 or less playing blackjack.
The next type of terrible online casino game is the slot machines. The casino edge for slots games falls in a range from 5% to 14% in most cases. But you usually don’t know exactly what the casino edge is because it’s not listed on the game.
The bottom line is that if you’re playing keno or slots online, you’re losing more money than you need to lose.
You Bet More Than the Minimum Wager
In the first section, you learned how speed is killing your gambling bankroll.
And you also learned that the main reason speed of play is bad is because it puts more of your money at risk. It makes sense that anything else you do that puts more money at risk in the online casino is also going to cost you more money.
Can you think of a way other than playing faster where you put more money at risk in an online casino?
What about the size of your wagers? Anytime that you bet more than the lowest amount you’re allowed to bet, you’re putting more money than you need to at risk.
The only exception to this rule is if you actually get a better return by betting more than the minimum. The only game I can think of where this is the case is video poker. You have to understand the rules and how they change the casino edge for each game to make a smart bet size decision.
Gambling Strategy Isn’t Your Friend
I mentioned the casino edge in the last section, and it’s important because it dictates how much you lose.
Some online casino games have lower casino edges than others. You now know how bad it is to play keno and slot machines. But how do you find the best games and how do you play them in order to play with the lowest edge?
What this means is that if you can’t use a strategy when you play an online casino game, you’re losing too much money. And if you won’t use strategy, even if the game has a strategy component, you’re losing more money than you need to lose.
Here’s a list of the online casino games with the lowest edges and how to play them using strategy.
- Blackjack – Use a blackjack strategy chart.
- Video poker – Use a video poker strategy chart.
- Baccarat – Always bet on banker.
- Craps – Always bet don’t pass and the odds.
You Assume Online Casino Comps Don’t Exist
You might be aware that you can earn casino comps when you gamble in land-based casinos. If you’re not aware of this, then you need to start getting comps when you gamble.
What you might not know is that there are a few online casinos that have comps programs. Most gamblers believe that they can either get comps by playing in a live casino or get bonuses when they play in an online casino.
But what if you could get bonuses and comps at the same time? This can be the best of both worlds.
It’s not common to find a comps program when you play in an online casino. But you need to look for a program at any online casino where you play. Simply look on their site, and if you don’t see a comps program, ask the support people if they have one available.
Stop Making Mistakes When Gambling Online
The six reasons why you lose when you gamble in online casinos listed in this article aren’t the only mistakes that you’re probably making. But they’re probably the worst mistakes that you can make.
Don’t let the speed of online casino gambling kill your bankroll. And learn how to avoid the worst online casino bonus offers.
Make sure you’re playing the best online casino games and never bet more than the minimum amount that you can. Also, look for online casinos that offer comps, because they do exist.
Finally, make sure that you know what the best strategy is for each game that you play and use it.