Gambling Errors: The Four Worst Bankroll Mistakes You Can Do

“Gambling can be just as addictive as drugs and alcohol. Teens and their parents need to know that they are not just gambling with money, they are gambling with their lives.” –Jennifer McCausland

Gambling on its own is already considered a risk. After all, you do not just part with a reasonable amount of money and expect the odds to be always in your favor. A degree of chance is always at stake whenever you are playing any sort of betting game because no matter how lucky you might think you are; winning every single game is an impossibility. For some, it is precisely this probability that entices them to keep playing while the rest relish the idea of testing their luck. However, as anyone who has gambled for any period would know, mistakes whether big or small can be detrimental to your gambling experience—regardless of what motivates you to play.

Although controlling the odds or where certain cards would fall is beyond your control, it is best to learn how to be aware of what these mistakes are and avoid them in order to have a more lucrative gambling experience. So, before heading to one of the major casinos in Manila, it is best to have your playing technique in check and avoid the gambling mistakes listed below:

1.)    Gambling without a budget 

Only a very few people can walk into a casino and bet without care or thought of whatever happens to their money. These people have more than enough money to spare, and if you do not fall into this category and are constantly betting impetuously, you might want to rethink your choices. We all have limits, and it is perfectly fine to have them. Our gambling budget and constraints largely depend on how much we earn and how much we can spend for us to have a good time. However, take note that apart from those two factors, you do need to consider your obligations in coming up with a gambling budget. After all, if you have more bills to pay than money to burn in a casino, you probably should not even be there, to begin with.

2.)    Gambling with borrowed money 

If you had to borrow money just so you can gamble, you should not be gambling in the first place as it means you could not even afford to do so. Betting with borrowed money would only bury you deeper in the obligation hole. Similarly, people who routinely use their credit cards to bet can be incredibly irresponsible. As people do not see any cash changing hands, they tend to fall into the misguided manner of playing more recklessly or impulsively than usual. Should this be the case, you would only be effectively digging yourself deeper and deeper into debt. This is even worse if you are playing with borrowed money from a relative or a friend --which, consequently, is a cardinal sign of gambling addiction. In this case, you should probably go and seek professional help.

3.)    Betting with money set aside for another purpose 

Much like how you should never bet with borrowed money, you should not gamble with money for a specific purpose either. Money set aside for another purpose such as payment for the rent, bills, groceries and the like should never be used as betting money. Not only would it be considered as an incredibly bad mistake, but it is a bad investment as well and can point to signs of gambling addiction. Should you lack money to spare, then it might be best for you to walk away. Remember, the bills are not going to pay themselves and food is not going to magically materialize on the table.

4.)    Chasing your losses 

Losing can be incredibly frustrating. But losing even more in an attempt to recover what you have lost is even more infuriating. If you are spending more money gambling just so you can regain the money you have lost over a period of bad beats, do not. The logic does not make the remotest sense as there is always a likely chance you would not win. If this is the kind of gambling behavior you operate on, you might want to steer clear from gambling for a while.   

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