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Don’t get caught in the gambling trap by: Richard Parker Thursday, March 13, 2003 When it comes to your money and online gambling, traps are everywhere. Here's how to watch your step in the world of iGambling. Trap #1: Chasing a losing streak Nowhere is it easier to chase a bad losing streak than sitting in front of your computer. How many times have you been down a couple hands and assumed the next one HAD to be a winner. Whether it's online or in Vegas, cold dealers and bad cards are part of any game, so cut your losses early. Also stay clear of revenge betting. This is where you are going to "teach the house a lesson" by getting - and breaking - even. This usually results in erratic doubling-up betting patterns that more often than not means anything but getting your losses back. Trap #2: Pressing a winning streak When you're hot there's no reason to quit, right? Actually that's the best time to quit. When you're winning, you're not playing with house money; you're playing with your money. The best online gamers set themselves both loss and win limits. Lose or win $100 and you're out. Try it. Trap #3: Exceeding your betting limit If you can't quit a loser, you'll never be a winner. Even if you're a disciplined gambler that sets limits, even one hand over and above your bet limit and you've blown it. Set goals and stick to them. And don't bet outside your standard range. If you're a $5/hand gambler, don't bump a bet up to $25 just because a hunch tells you the next hand is a winner. Trap #4: Forgetting the house edge It's the golden gambler's rule: the house wins in the end. Why? The house edge that pays at lest 2.5 percent on every game in the casino. Remember that you're there for fun and winning is a bonus. Forget that and you're in for a long night. Trap #5: Blaming the software. If half the losing streaks I've seen happen at land-based casinos happened in online gaming, online message boards would be overflowing with complaints about rigged software. Playing a reputable operator like William Hill Casino, Cherry Casino or English Harbour Casino gives you as good (if not better) chances of coming out ahead. Make sure to combine this with basic strategy, a healthy match bonus, and or course a little luck. Trap #6: Getting comfortable Make no mistake: when it comes to online casinos, you're the boss. This means managers should be doing everything in their power to keep you around. This includes comps, contest entries, bonus cash for depositing by means other than credit cards, and of course, a little VIP attention now and then. If you're not getting it, look elsewhere. Trap #7: Losing track of the exits Just like land-based casinos, online operators know that hiding the exits means you might stay longer. And while there are no doors on your computer, there are other ways players stick around longer than they should. Playing a multi-player table and having a good time? Don't stick around past your limits. Ready to cash out but you suddenly have an urge to try a new skill-game from the menu? Practice it in play for fun mode before you risk your cash.
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