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In A Losing Streak?

RESPONSIBLE GAMING EDUCATION WEEK

Leaders of the Association of Gaming Equipment Manufacturers (AGEM), the National Indian Gaming Association (NIGA) and the National Center for Responsible Gaming (NCRG) joined the American Gaming Association (AGA) this week to highlight the gaming industry’s shared commitment to responsible gaming.

Gaming operators and manufacturers across the United States will commemorate the industry’s responsible gaming efforts by holding dozens of local events and responsible gaming educational activities this week in recognition of Responsible Gaming Education Week.

So, while NETimeGambling.com endorses recreational gambling, it’s always good to remember responible gambling.

NETG & RESPONSIBLE GAMING

When I first started NETG, another blogger posed the following question, “If one experience or life change results from you writing your blog, what would you like it to be?”

For me, this blog is a means to inform as a resource. More than anything I wish gamblers understood the logistics behind the gaming industry and losing. With the wrong expectations, a losing streak is a difficult thing to deal with – it becomes very personal. We bring a certain amount, whether it be $20, $200, $2000, or more, and it can be gone in a New York minute – and there you are, a quick losing streak changing your expectations, your feelings, and possibly your behavior.

Now what do you do?  When your gambling becomes a streak of losing, what do you do to change your “luck?” How do you handle that pit in your stomach?

HOW DO YOU REACT?

BankrollDo you go on “TILT?” According to Bill Burton in his article “Losing Streaks: How To Survive,” “going on tilt is the expression used when poker players become upset and lose control of their emotions. Consequently they start making poor decisions and play badly and irrationally. Going on tilt is not confined just to poker players. Anyone who gambles on any casino game can find themselves on tilt. Once a player starts losing money they are a prime candidate. They have lost money and they try to make it back quickly by raising the size of their bets or playing a higher denomination slot machine. This will usually just lead to more losses.”

Sometimes a player will get to the point where they just don’t care how much money they have lost. But, for most of us, it does matter. Understand that casinos are very profitable businesses. They make money that is coming from the players pockets. Few people win. Most lose. Gambling is for fun. If it makes you feel bad, and cannot accept the fact that you’ll probably lose, do something else in your free time!lottery

7 SUGGESTIONS FOR DEALING WITH LOSING STREAKS

Losing can become purely an emotional response.  I try to remind myself the following:

  1. I came with money that I could spend on the recreational pleasure of gambling. When it’s gone, I’m done. And a 10% win on the day’s Bankroll is a good day for any recreational gambler.  Consider going home with money in your pocket, win or lose.
  2. The casino will win, the house edge is real and getting worse every year as casinos tighten machines, game rules, and paytables.
    6:5 Blackjack
    Dont play Blackjack that pays 6:5 on all blackjacks! Just don’t!

    Learning to accept it is the first step to dealing with losing.  Even better, look for the best table rules, the best paytables, and higher denomination slots to help your gambling duration and “win-a-bility.”

  3. If I win big, or lose big, I need to admit that anything CAN happen. The end result, AS LONG AS MONEY SPENT IS DISCRETIONARY, NOT YOUR FAMILY’S BUDGET $$, must be accepted.  When you’re not in a good frame of mind and on a losing streak, put down your drink, don’t carry on and calmly leave. Jessica Cheng, Brand Ambassador at 777DragonCasino.com, says,”…we have a chance at winnings and a chance at losing – it’s just the nature of the game.
    Losing at Gambling?
    Losing at Gambling?

    But there is no reason to slip into a depression and refuse to ever go gambling again. Just recoup, maybe take a break and gather yourself again, sit on a little bit of a tight budget for the next month and then when you feel ready, try again.” However, I would emphasize wait and “sit on a little bit of a tight budget for the next month…” 

  4. Repeat after me…..We must ALWAYS use our Rewards Card.  At least get something for your money. A comp of any size could give yourself the break that you need, whether it’s an outright comp gift or from your own hard-earned comp points.
  5. NEVER GO TO THE CASINO TO GET AWAY FROM PROBLEMS, NEVER GO TO THE CASINO WHEN YOU’RE ANGRY, UPSET, OR DEPRESSED. 
  6. If you have lost A LOT of money (which could mean anything to anyone, but I mean a good chunk over hours of play),  do what Richard Munchkin, Author of Gambling Wizards and cohost of cover170x170Gambling With an Edge (an excellent podcast and highly recommended for Advantage & recreational players alike). “The most important thing AFTER a big loss” he says “is to contact a casino host and ask for some money back. This is called a loss rebate, but it is only for BIG losses……Bottom line – try to get some of your money back by asking a host. If you can’t get cash try for show tickets, fight tickets, or whatever they will give you. By the way – the term “ton of money” is relative. If your ‘ton’ is $500 then you may only get a comp for 2 to the buffet.”  Remember, unless you ask, you can’t get anything!
  7. Fluctuations are to be expected, depending on the EV (expected Value) of the game your playing.  See the cartoon above and read again. Don’t expect your money to last on a slot machine like it would on a Video Poker machine with perfect strategy.  And yet, fluctuations will happen, no matter what the EV is. There are advantages to playing any game – just be knowledgeable and accept the consequences of lower EV games.

Remember, gambling is like any recreational pleasure – it can create a rush of adrenaline and release of endorphin to our human brain that some of us can’t handle well. Before I end, I must repeat what is in the side panel of this blog daily: Gambling Addiction is a serious illness progressive in its nature. It affects the person who gambles as well as many around them – family, co-workers and friends. If you wonder if the fun has stopped, and the compulsiveness has begun, go to the following Gamblers Anonymous site and answer a quick 20 questions. It may save your life.

Go to Gamblers Anonymous.org and take a 20-questions quiz if you wonder why it isn’t fun anymore.

Be in control.  I wish for safe, healthy and fun gambling for us all, win or lose.  JUST REMEMBER, KEEP WITHIN YOUR FINANCIAL MEANS AND HAVE FUN.

Binbin

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