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7 Easy Ways to Overcome Surprising Losses from Gambling Online
Maybe you were on a hot streak, and suddenly your luck turned.
Maybe it’s one of those days. The cards aren’t going your way, or the slots aren’t cooperating.
Either way, you’ve been hit with losses you weren’t expecting. Your bankroll is depleted, and your pockets are empty.
Rather than beating yourself up, look for ways to recover your losses. There are a number of smart ways to recover from surprising losses, and doing so is easier than you might think.
Here are 7 easy ways to pick yourself up and get back into the game.
Utilize Sign-Up Bonuses
In this case, the grass may be greener on the other side. Or at least at another online casino.
If you’ve hit a streak of bad luck, it might be time to try someplace new. One reason is that a new site may just improve your luck. Every site has different games and provides different experiences.
More importantly, many online casinos offer incentives to sign up. Some provide free play up front (a no-deposit bonus), while others match your deposit up to a set maximum. These bonuses can range from hundreds up to thousands of dollars.
Do your research.
There are numerous sites where you can compare the different sign-up bonuses that online casinos offer.
When looking for someplace new to try, be sure to read the fine print. Some online casinos may not let you withdraw your bonus money, or you may have to play a certain amount before you can access it.
Look for the online casinos with a solid reputation and fast payouts. After all, when you win, you don’t want to wait any longer than you have to. There are online casino review sites that give you an inside look at different online casinos.
If you’re not doing well where you are, it doesn’t hurt to try someplace different, especially if they’re going to pay you to do it. The extra money can help you recover from your losses and start fresh.
Find Loyalty Bonuses and Promotions
Is the online casino you’re playing at rewarding you for the time and money you spend there?
If it’s not, it’s time to try someplace new. Many online casinos will give bonuses not only when you sign up, but also when you continue to make new deposits and play.
Rewards might include free play, prizes, and trips. Some reward based on making large deposits.
You may also be able to earn free play by trying out featured games. This gives you the chance to try something new and possibly win while playing on their dime.
As with sign-up bonuses, read the fine print. Look at how they track loyalty and how you accumulate points or move up tiers. If their program isn’t going to benefit you, look for a site where it will.
You’re spending money, after all. You should be rewarded for it. Who doesn’t need a free vacation?
Keep an eye out for promotions as well. Some online casinos reward you with free play for playing at certain times or on certain days. Anytime you can get free play, it’s a chance to win and make up for your losses.
If you’ve been hit with surprising losses, then it might be time to change things up.
It’s easy to get attached to your favorite game, but it doesn’t hurt to try new ones, especially if they improve your odds.
If you’re a casino game player, it might be time to check out online poker. The advantage to online poker is that you’re playing against other players rather than the house, so there’s no house advantage.
You simply have to have a better hand than the other players.
If you’re new to online poker, there are plenty of sites where you can play for free. This is a great way to learn and master your poker strategy. Once you’re ready, you can start playing for real money on whichever site you choose (ideally one that gives you a sign-up bonus).
You can also try out different types of poker, as each version is a little different. Find one that suits your style and speed of play.
If poker isn’t your style, you may want to change up your casino games. Much like land casinos, online casino games do typically have a house edge, which varies depending on the game you’re playing.
Slots tend to have the highest house edge, while video poker and blackjack have lower ones.
Some online casinos offer games that have no house edge. It’s just you and your luck.
If you’re getting hit hard on the game you’re playing, it doesn’t hurt to move on to something new. Playing a game with little to no house edge will stretch your money further.
Take the time to learn the new game before you play, though.
With poker, moving to a different site may also help, because you’re playing against different players. The players matter in poker, so changing this element of the game might be what turns your luck, and your losses, around.
Improve Your Skills
Despite what you might think, there is no strategy involved in slots. Slots are random each and every time you play.
If your online game of choice is blackjack or poker, though, there is skill involved. In blackjack, the key to keeping the house edge low is playing with perfect strategy.
If you’re not sure what that is, then do some research and try playing on a free site. Play until you feel confident in your skills, then switch back over to playing for money.
Even if you’re an experienced player, you may have picked up bad habits. Do some research on blackjack strategy and refresh your skills, then try it out on a free site.
One strategy that doesn’t work for online blackjack, though, is card counting. Online casinos use a random number generator after each hand. This means each hand is completely new and random, and it doesn’t matter what cards were played before.
Other blackjack strategies, such as when to hit and split, do still apply, so make sure you know them in and out.
With poker, practice makes perfect. Practice playing online with a free site until you’ve found your rhythm, then switch to a paid casino. This game gives you the best odds, since you’re playing against other players and not the house.
Make sure you know the rules of the game inside and out. Playing online can move quickly.
Even if you know the rules of poker, there’s still strategy to master. Study and practice before you play for money. If you’re experiencing consistent losses, take a step back and reflect on your play.
Think about what you could do differently. Are you bluffing too much? Are you playing too conservatively and folding at the slightest hint of a decent hand? Try out different strategies online until you get your footing back, and then hit the pay sites again.
Sometimes all you need is a little perspective on the game.
Keep Your Betting Consistent
When you’ve been hit with losses, it is tempting to want to bet bigger in order to recover your losses.
It’s the gambler’s fallacy—that what’s happened in the past will affect what’s going to happen in the future, when in fact, the outcome is random.
Resist the temptation to increase your bets. Instead, stay consistent or even lower your bets. This seems counterintuitive, but lowering your bets means your losses will be lower. Yes, the wins are smaller as well, but it minimizes your losses.
Lower bets mean more chances to play and possibly win.
Whatever you do, resist the temptation to chase your losses. Stay consistent and stay within the limits you’ve set for yourself.
The simplest way to keep yourself from chasing losses is to control how much you deposit into the casino in the first place. Play with money that you’ve allocated for entertainment, and don’t deposit any more than that.
Depositing just a little more can lead to depositing a lot more, and your losses can go from surprising to shocking.
Keep your betting consistent and base it on your overall bankroll. If you have $500, you could play 100 hands at $5 per hand, or 50 at $10 per hand. The smarter strategy is to play the lower minimum so you can play as many hands as possible, and stay at that minimum.
It’s important to keep your play consistent in poker as well. It’s tempting to take more chances to make up for your losses. Don’t.
Keep your play smart and consistent.
Sometimes the best play is to not play at all.
You may have gotten tired and started playing erratically. You may just be discouraged or in a funk.
This is when you need to walk away from the computer. Do something to improve your mood.
Take a walk outside. Eat something. Meditate.
Do something that doesn’t involve a screen.
It’s easy to play irrationally if you’re tired and stressed. Rather than playing in this state, take some time away from the games and enjoy “real” life.
Stretch, spend some time with people, and when you’re ready, settle back in and play again.
Taking a step away from the game allows you to clear your head. No, this doesn’t directly affect the outcome of the game, but it does affect the most important element of gambling: you.
Starting fresh can give you a new perspective on your play. Maybe you need to try a different strategy. Maybe you need to try a new game.
If your head is in a fog, it’s hard to make good decisions. Walk away from the computer, and you might be surprised at what happens when you come back.
Have a Plan, and Stick to It
Before you come back to the computer, take a hard look at how much you’re playing.
Is it an amount that fits your budget? If your bankroll is more than you can afford, you’re not going to play with a level head and good strategy. You’re more likely to bet more and take foolish risks.
It’s an old saying for a reason—“Don’t gamble more than you can afford to lose.”
Decide on how much you’re going to deposit, and stick to it. Decide on your minimum bet, and stick to that as well.
When it’s out, walk away.
It’s hard to walk away when you’ve lost, and it goes against instinct. Your brain tells you that the next hand could be the hand that changes everything.
That’s certainly possible, but it’s just as likely that the next hand would be a losing one as well. When your losses keep adding up, things get even worse.
It’s best to walk away when you reach your limit, no matter how painful that might be.
Have a plan for winning as well. How much do you want your bankroll to be? When you hit that number, stop playing.
It sounds simple, but it can be much harder to do in practice, especially if you’ve been experiencing losses.
That’s when it’s most important to stick to your plan. Otherwise your losses may continue to grow, and you’ll feel more stressed and desperate, which leads to poor playing strategy.
Keep a cool head, have a plan, and stick to it.
Every gambler experiences losses. The important thing is how you deal with those losses. You can try to chase your losses, but that will make things worse.
There are a lot of smarter options.
You can find ways to increase your bankroll through sign-up and loyalty bonuses.
You can stretch your money by playing games with a lower house edge, or no house edge at all.
You can take a moment to sort yourself out, rethink your strategy, and start fresh when you’re ready.
The one thing you shouldn’t do is throw more money after the problem by chasing your losses.
Know your limits and stick to them. Walk away when you need to.
Now pick yourself up, get out there, and have fun!