Avoiding the most common gambling mistakes

We know you love online gambling. But avoiding common mistakes is important. Are you loving the experience you’re having? If you’re finding yourself on a losing streak, running out of funds or just generally unsure of what you’re doing. You could be making certain mistakes without even realizing it. Take a look at our list of the most common gambling mistakes made by players. And how to avoid them in the future. You could soon see your fortunes reversing for the better!

Not managing your bankroll is a common mistake

We mention this in pretty much every article we write. And that’s because it’s SO crucial to your success as an online casino player. Aside from having fun, the number one rule of online gambling is to manage your bankroll responsibly. Because without sufficient funds, you can’t gamble at all. This is such a common mistake. Or, even worse, you could dip into funds allocated for something else. Neither situation is a favourable one. Which means in order to keep your bankroll looking healthy, you’ll need to avoid the temptation to chase your losses or bet more than you can afford. What’s more, by managing your bankroll effectively, you’ll be able to enjoy longer playing sessions and reduce the risk of substantial financial losses too.

So how do you go about managing your bankroll? Here’s what our experts recommend:

Set yourself a realistic budget: You know the way that you budget for your rent or mortgage, your utilities, your groceries and more? Do exactly the same with your gambling spend. At the beginning of every month, decide on how much you’re able to spend on your gambling and set aside that amount for your online casino play. You can either transfer the full amount into your casino account (which you’ll need to be disciplined about not spending all in one go) or you can divide it up into weekly amounts if that makes your budgeting easier. Such a good way to avoid this common mistake.

Whatever you decide, make sure you stick to your hard and fast rule: once that money for the month is gone, it’s gone – don’t spend money earmarked for other things. And don’t go into credit trying to place more bets. Stick to your limits and budget your money responsibly.

Use separate accounts to avoid a common mistake

Here’s a budgeting tip that might help you – rather than mixing your gambling funds with your personal finances, create a separate account for them instead to avoid the common mistake. Transfer your gambling spend over to your gambling account every month. And you’ll have a clear idea of how much is in there, and how much you can afford to spend. You can also have your withdrawals linked to the same account. So that all your funds dedicated to and won from gambling are in the same place. The clearer the separation you can make between gambling funds and personal funds, the less likely you are to play with more than you can afford to spend.

Set win and loss limits for yourself: Financial management doesn’t start and end with budgeting. It also extends to your wins and losses as well. It might sound like a complete pain, but keeping an accurate record of your gambling wins and losses and setting limits on these can help you manage your money more effectively. Decide on a threshold for both winning and losing. Make a note of all your wins and losses with every bet. Then once you reach your limits, either take a break or end your session. We know that it sounds like extra effort. But putting this step in will prevent you from engaging in mindless, repetitive betting. And will help you to think more about your money and how much you’re spending. And most importantly, how to avoid the common mistake.

Ignoring bonus terms and conditions

Everyone loves a good online casino bonus. What we don’t love is finding out about stringent wagering requirements after the fact. If you don’t make the effort to thoroughly read and understand the terms and conditions associated with the bonuses and promotions you claim. You won’t be able to comply with the requirements, and you’ll make a common mistake. This could lead to the loss of potential winnings or even account suspension. To make sure you keep your bonus money and stay in the casino’s good books, here’s what our experts advise:

Read the terms and conditions: Take the time to carefully read and understand the rules and requirements of each bonus or promotion you claim. It may seem boring or time-consuming, but it could save you a lot of time, money and energy in the long run.

Pay attention to wagering requirements

Look for the specific number of times you need to wager the bonus amount before you can withdraw any winnings. This is also known as a playthrough requirement. And is usually expressed as ‘50x’ or similar, which is common. It’s important to note that any winnings you accumulate by using your bonus also count towards your wagering requirements, meaning that as long as you keep on winning, you won’t have to top up your account with your own funds.

Be aware of game restrictions: Some bonuses may only be applicable to specific games. So make sure to check which games are eligible. It’s common for no deposit and free spins bonuses to be restricted to certain slots, while some other bonuses don’t count play on table games towards wagering requirements. Be sure you know which games you need to play in order to fulfil the terms and conditions, and stick to them.

Playing unfamiliar games

We know how exciting trying out new games can be, but are you making sure that you read the rules first? Rushing in to test a brand-new game is fun and common. But can also be a costly exercise if you don’t first understand how to play it. In order to ensure you get the most value out of new casino games while protecting your bankroll, keep these handy tips in mind.

Practice for free first

There’s a reason why most online casinos offer free-to-play versions of their games, and it’s not just for beginner players. It’s for you to take new games for a spin for free first, before placing real money bets. Being able to learn the ropes in a risk-free environment first is a hugely valuable experience, and one that could help you gain the skills and knowledge you need to come out on top. So before you dive right into to real money gaming, play for free first and give yourself the best chance of succeeding. And avoid the common mistake.

Research and learn: Knowledge is power, as the saying goes, and the same is true for online gambling. So before you hit that bet button, make sure you know as much as possible about the game you want to play. Read game guides, watch tutorials, or join online communities to gain insights from experienced players. The more you know about a game, the more prepared you’ll be. And the better decisions you’ll ultimately make.

Start with low stakes: We know that max bets can be tempting, particularly when there’s a huge jackpot on the line, but give your bankroll a break. If you’re playing a game for the first time, start small and go from there. Placing small bets can help you gain in both confidence and gaming skill – then once you’re comfortable with the game and how it works, you can increase your bets and go for the big one.

Not making use of responsible gambling tools

If you’ve ever felt that your gambling is becoming problematic or is difficult to control, it could be because you’re not making use of the many responsible gambling tools available to you. All reputable online casinos will have tips and features available to help you play responsibly, and the more you make use of them, the better player you’ll be. If you ever at any time feel like you need additional support, try using one or more of these free responsible gambling resources:

Set deposit limits: Most online casinos will have a deposit limit in place for players. A feature that restricts the amount you are able to deposit within a specific timeframe. Set this limit for yourself, and you’ll help yourself to budget more effectively and to play within your means.
Use reality checks. It’s so easy to get caught up in the adrenaline of gambling online and to lose track of time. What starts as a 10-minute session could easily spiral into hours of gaming (and spending) if you’re not careful. To avoid spending too much time gambling online. Set notifications or reminders for yourself to keep you updated on your gameplay duration. And make you aware of how long you’re gambling for.

Self-exclusion options

If you feel that you need help managing your gambling habits. You may want to think about using your online casino’s self-exclusion option. This will restrict your access to the casino temporarily. Or even permanently, should you want to step away from gambling altogether. Either way, self-exclusion can be hugely useful in helping you reset and cultivate a healthier mindset.

Ready to move onwards and upwards on your casino journey? Then take our experts’ tips, avoid making these common mistakes, and enjoy a more rewarding gambling experience overall. Good luck and happy gaming!