As any seasoned player knows, gambling at online casinos is a roller coaster ride of emotions from excitement to the euphoria of winning followed by the harsh disappointment of losing and so it continues. The highs are high when you’re winning but the lows can be very low, especially if you happen to encounter a losing streak.
While we all live for the wins, we do need to realize that losses are a part of gambling and everyone inevitably experiences them. The difference however lies in how you handle the losses. Here we look at how to handle losing and streaks and the things that you should avoid doing in order to manage them correctly.
Avoid focusing on recovering past losses
You’ve probably heard it before but never try to chase your losses. This may be easier said than done because it is natural to want to recover the money you’ve lost, especially because it is possible if you do start to win. Keep in mind though that all casinos have a house advantage and that means that at some point you will be on the losing end of it. Instead of obsessing about recouping losses though, focus on good bankroll management and making intelligent, strategic bets.
Do not increase your wagering amounts to win back losses
It is very tempting to chase losses and then increase the size of your bets to do. If you’re already suffering severe losses it will only hurt your bankroll more if you up the stakes and continue to lose. Instead of upping your betting size, decrease your wagering amount until things turn around, that way you can still enjoy playing without worrying about huge losses as this will only take the enjoyment out of your gambling experience.
Don’t play skill games when you’re frustrated
If skill games like blackjack and video poker are your game of choice then you will know that every decision you make has an effect on the house advantage. So you will obviously want to ensure as far as possible that you make the correct strategic game plays with every hand. If you’re experiencing a losing streak it can be very tiring and difficult to keep your head in the game and continue to make sound bets without losing focus and becoming frustrated.
So if you find yourself feeling irritated or frustrated over a losing streak and the tilt factor is taking it’s toll, take a break and if you still want to continue playing, rather change things up a bit and switch to a fun slot or game of roulette. Once you’re feeling better you can return to playing your skill game.
Avoid drawn out gaming sessions
Many players feel that if they stay at an online casino long enough they can recover from any losses they have experienced. While the law of averages agrees that you will inevitably break a losing streak there is no guarantee on when this will happen.
So if you’ve been losing on slots for the last 4 hours, continuing to play for another 3 hours or so is not going to mean that you will win the jackpot. While that can always happen, it is a better idea to stop playing when you feel like doing so instead of forcing yourself to play in an attempt to recoup losses.
Justifying bad decisions with comps
Do not think that you can chase losses, play for extended periods and make irresponsible wagers in an attempt to turn a losing streak around and then justify it all by thinking that you’ll make up for it in comps. No matter how generous a casino is to you, they will only ever comp a portion of your losses (usually 10 to 40 percent) which definitely won’t compensate for the amounts you lose.