One of the fastest ways to lose all your bankroll at the online casino is by betting too much at a time. If you’ve got £100 loaded to a casino account and you proceed to make £20 bets on blackjack, you only actually have five bets before going bust.
In rare cases, a single hand of blackjack can end up costing more than five bets. If you’re dealt two 6s and split them, land another two 6s and split them again, you’ve already spent £80 by this point. Say you are then dealt a 4 on top of each of your 6s versus the dealer showing anything but a 10 or an Ace. The best strategy is to double all four hands but you don’t even have enough money to do that.
In the above example, you haven’t even enough bankroll to play in the best strategy possible. Had you only bet £10 per hand you would still be able to stick to the mathematically optimum strategy. Missing out on opportunities to double bets when it’s profitable to do so only increases the casino’s edge, which means you’re even more likely to lose your shirt to the house in the long-run!
Avoid Low RTP Games/Bets
Not all casino games have the same probability of the player winning. They all give at least some edge to the casino but the size of this edge can vary dramatically.
If you want to minimise losses at the online casino, stick to those games with high return-to-player ratings. Check different slots before you play them. You’ll find that the most generous will offer up to 99% RTP ratings. Meanwhile, the stingiest could be just 90% or lower. That’s a serious difference in terms of expected value.
Similarly, at a game like roulette, you want to stick to the more lucrative versions. If given the choice, favour European roulette over American roulette. The latter has a “00” space, which effectively doubles the house edge versus the player.
Always Read Bonus Terms and Conditions
Casino bonuses are great. They extend your bankroll and no deposit bonuses actually give entirely risk-free shots at winning real money. However, those players that consider bonuses a free meal ticket will usually end up disappointed.
Bonuses feature terms and conditions. In these terms and conditions will be wagering requirements, game restrictions, time limitations, and other rules. All of these are designed to make it less likely that the player will walk away in profit.
Most people know that bonuses have wagering requirements these days. However, one term that usually catches folks out is a maximum cash-out limit. The terms might state that any profits above a certain threshold will be surrendered to the casino when you complete wagering.
It’s really important that you check the terms and conditions document before you claim a bonus. It will help protect you from unpleasant surprises latter on – like having a load of winnings rudely taken from your account after you’ve finished wagering!
Avoid Side Bets
Many slots and casino games have various side bets. Blackjack has “insurance”, slots might have additional features accessible by betting more money, and poker players can even bet on the colour of the flop versus the house at some virtual card rooms.
In almost every situation, such side bets only serve to decrease the player’s overall expected value. By placing side bets you’re actually increasing the casino’s profitability.
Use Perfect Strategies
Linked with avoiding side bets is the concept of perfect strategy. This means always playing in a way that results in you betting with the best possible odds.
Most casino games have fixed bets and no opportunity to increase the bet after placing it. It either wins or loses.
However, in games that involve a lot of player decisions, like blackjack, there is a mathematically defined strategy for every hand versus the dealer’s card. Deviations away from this strategy will result in the casino playing with a higher house edge than you might think it has.
A simple example of perfect strategy in action is when the player holds 13 and the dealer shows a 6. Here, many players will hit to receive another card. However, since the deck is comprised of more 10s than any other card (10, J, Q, K), the most likely outcome is that the dealer draws running high cards and goes bust. Meanwhile, the player drawing the most likely card in the deck will cause them to bust and lose the casino when they had the advantage in this hand.
Know When to Walk Away
Finally, it’s important to understand when to walk away. Gambling is meant to be a fun way to maybe win some money. It shouldn’t transform into something you feel compelled to do.
People who have been losing a lot when gambling are likely to chase their losses. They stay at the table getting increasingly more frustrated and making progressively worse bets that stand less chance of winning. The stress they feel at such times can even make them think that deviating away from a perfect strategy is a good idea.
All this does in most situations is compound the losses, further reduce the fun, and increase the pressure on the player to continue chasing their losses. Walking away at the right time might mean you do lose your shirt to the casino but you get away with the rest of your clothing at least!
Hopefully, the above tips will help you the next time you log in to your online casino account for a quick punt. By being responsible about your gambling, you not only decrease the likelihood of your losing heavily, but increase the chances of you actually winning. You won’t be able to overcome the house edge but you will reduce it to the absolute minimum it can be. Good luck out there!