5 Lessons We Can Learn From Casino Losers

Although online casinos are known as entertainment hubs, many people still lose control during games. This can create a number of problems that go beyond a lack of money. To avoid frustration and burnout, we’ve brought you 5 important lessons here to keep you focused when betting.

  1. Money Management: Keeping your bankroll and getting control of your spending seems like a simple task, but most online casino customers don’t set basic criteria before the matches. Know how much you can spend and meet your goal without extrapolating your possibilities to avoid debt.
  2. Learning Is Never Too Much: The first step before participating in paid bets is to learn about your chosen game. It’s no use participating in poker or roulette matches if you don’t know the rules and some strategies that increase your chance of beating the house advantage. Use free casino games to learn even more.
  3. Manage Your Time: When finding a good casino, you need to optimize the time spent on matches. It must be recognized that the longer you stay at the casino, the more expenses you will have. To avoid this, establish a time and avoid spending too many hours in front of the screen.
  4. Don’t Make Up For Losses: When trying to recover money after successive losses, you will be walking into a trap. Big losses in casinos are often caused by the hope of good results that might not happen. This is a valuable tip, especially for those who are just starting out in the world of betting.
  5. Gambling Is Not An Investment: look to online casinos for the purpose of entertainment, never as a place where you will make money. Looking at the casino as an investment will put you in a delicate situation and could cause a lot of financial and emotional damage.

The Biggest Losers In Casinos

  • Harry Kakavas: Kakavas was a successful property seller in Australia. It is estimated that he spent around $1.5 billion in a Melbourne casino at the baccarat tables. Kakavas lost everything and sued the casino for allegedly fueling his addiction, but the judge didn’t win the case.
  • Terry Watanabe: The heir to the Oriental Trade Company lost a large part of his fortune after the sale of the company. Mainly at the poker tables, where he lost a total of $204 million at Caesars Palace and Casino do Rio. He didn’t seem to use any strategy and compulsively chased losses. Unfortunately, to this day Watanabe has not been able to pay the debts he incurred with the betting.
  • Kerry Packer: One of Australia’s richest men was also a compulsive gambler. In just one day, he lost $13 million in Vegas. He used to distribute his winnings among the dealers and employees of the casinos.

In the face of such impressive defeats, the best way to ensure you don’t make mistakes is to understand the importance of the tips we’ve given above. Enjoy!