There are concerns that the advent of online gambling has increased the number of people losing money in gambling activities. However, this does not have to be the case if online players will take the time to do some planning and a little research, before spending their leisure time gambling on the Internet. After all, online shoppers do so, before buying or paying for anything in web-based businesses.
Now if one is to adhere to these basic methods, there is a likely chance for leisure gamblers to make money at online casinos instead of losing more than what they can afford. Consider taking the following recommended steps, before making online gambling part of your recreational activities:
1. First off, develop a deeper understanding of how gambling on the Internet works, because online casinos are still businesses that operate for profit. No matter how attractive the cash bonus may seem, keep in mind that it is still the casino’s money unless you comply with the rules on how you can redeem it for real cash. Although the industry is under the watchful eye of gaming authorities to ensure player protection against unscrupulous gambling operators, legitimate online casinos also institute measures to protect their business against Internet fraud perpetrators. Moreover, licensed online casinos pay licensing fees, taxes, service providers, technological support and other similar business expenditures, which they have to pay for by generating revenues.
2. Do not expect to win all the time or be of a mindset to make a living out of playing in online casinos, not unless you intend to be a professional poker player. In virtual casino games, the element of luck or chance is a dominant factor, because Internet casinos use randomization techniques to generate game results. Regulators or game testers make sure that the games are not rigged or can be hacked into by a tech- savvy player.
Nonetheless, online casino games are programmed in a way that allows players to have fun by giving them a chance to win from time to time. It is up to you to optimize those instances, by alternating between the minimum and maximum bets. However, you should have the resolve to stay disciplined by quitting while you are ahead, or to play in another type of online casino game if the odds are no longer in your favor.
3. Know your limits by knowing how much you can afford to lose. Players must set a limit to their Internet casino spending by first determining how much of their real income is free to spend for recreational purposes. Supposing you will spend that money for a night out to watch a movie and grab a bite to eat, you will make it a point to stay within that particular budget and wait for the next paycheck, before spending the same amount for another night out. Adopt the same attitude when you start playing at online casinos; quit and sign out if you have no more money left in your casino account.
Still, if you want to make money when playing at casinos, you do not have to wait until all your casino money is gone before taking a break or quitting. If you have at least recovered your deposit or some portion of it, it will still do you good to quit for a while instead of aiming for more wins. Technically, you will be winding up while still a winner, because you do not have to shell out additional money or wait for the next paycheck for another try at the online casino games.
4. Stop chasing after the bets you lost. One of the pitfalls of gambling in casinos is when players start chasing after losses. If you want to recover your gambling losses or make money at online casinos, aim to do it gradually by having a game plan. Consider how entrepreneurs also gamble by investing money in a business venture. They use strategies to cut their losses and recover their investment by segregating money more than their working capital fund. Moreover, they do not count profits on a daily basis, but by looking at the overall performance of their business for a specific period.
5. Set a goal on how much you want to win but make the amount realistic. Take time to look over your account history or a report of all your gaming activities at the online casino. Study the results of your games and take note of your net winnings. Sum up your net winnings and divide it by the number of items you added and you will arrive at your average winnings. You can use this as the basis for determining your gambling goal. However, consider such goals as mere standards of what you aim to achieve when playing in an Internet casino because you cannot predict nor have control over the outcome of the online game. If you are still far from achieving your goal but have already spent quite some time gambling at the site and about to reach the end of your spending limit, then it would be best for you to quit.
6. Budget your casino fund by betting wisely. Whether you are placing minimum or maximum bets, the odds of winning in online casino games are pretty much the same for both options. If you are betting at the minimum, you can have longer playing time and have more chances of winning. You may or may not be able to recover the amount you placed as previous bets all too quickly, but you still have enough funds to use as wagers, once the odds turn in your favor. Do not regret betting on the minimum if the game result turns out to be a win; consider yourself lucky that the outcome still worked in your favor.
7. Understand the mechanics of the match deposit bonuses, particularly the wagering requirements. Keep in mind that the larger the amount of cash bonus you receive, the more money you have to spend just to redeem the bonus money. The wagering requirement is the amount of money you spend on the casino games before you can claim the cash bonus and use it as real money in your account.
To illustrate by way of example, assume that the minimum wagering requirement is “50x the amount of initial deposit”, and you deposited $20. This means you have to spend at least $100 (50 x $20) within a specified period, before you can withdraw or use the bonus money. If you deposited $50, then you have to spend as much as $250 (50 x $50) within the same limited period. In both cases, you are liable to spend more money than the amount of bonus you earned. Given this, there is no need to feel pressured if you cannot meet the wagering requirement within the specified time. The online casino will forfeit the cash bonus, but this also kept you from spending more than you can afford.
8. Lastly, choose your online casino wisely. Internet-based gambling sites that are sincere in promoting responsible gaming will give you options and tools to use to keep your casino gambling activities in check. A good example is an option to limit the amount of deposit you can add to your account, either on a daily or weekly basis. Another useful feature is the generation of activity reports covering all your online casino transactions, as this will help raise your awareness of the time and money you are spending at the online casino.