People Who Lost Everything And What We Can Learn From Them

If you are an experienced player you have likely heard hundreds of stories of players getting lucky and striking it huge. Each and every day players from all over the world in both internet casinos and brick and mortar casinos win huge jackpots and are awarded with sums of money that they could have only dreamed of receiving. But all too often we neglect to talk about the other side of this story, the players who lose big. Learning from these players can help you in avoiding making the same mistakes. Below we will go into what it takes to avoid losing big and how to be aware of when your gambling hobby begins to become a bit more than a hobby.

When talking about a player losing large sums of money we have to first define what a large sum of money actually is. For some people it can be only a few hundred dollars, but for others it can be in the thousands and sometimes even millions. Depending on your skill level and the stakes level at which you are playing, a big loss could be as little as $100 or as much as $100,000!

In order to avoid losing a large sum of money you should sit down and think about your funds before you begin playing. If you are playing with a lot of money, let’s say $10,000, then losing $100 would likely not be considered a big loss. It doesn’t matter if you are betting on binary options, opzioni binarie in Italy, sportsbetting or casinos. But if you sit down at the poker tables with $10,000 and only an hour later that amount has been halved, then you are probably looking at a major loss. By consciously sitting down and thinking about how much money you have, how much money you are ok with losing, and what type of games you will be playing, you will be able to stop yourself before you ever reach the point where suffering a big loss is possible.

Online Money Is Real Money

Players have a bad habit of not realizing how much money they are spending because the cash they are using is not laid out right in front of them, rather it is on the computer screen. Not physically having cash on you like you would at a brick and mortar casino really begins to play tricks with you and before you know it you are spending loosely with funds that you otherwise would have liked to retain.

Some of the biggest losses in the history of casino games and gambling have happened online simply because players are not aware of just how much money they are letting go. To avoid running through your whole bankroll in just one sitting there is a couple of things that you should do. Just like in the aforementioned article, before sitting down to play at an internet casino assess your funds and see just how much money you have, how much you are ok with parting with, and how long you would like to make this particular bankroll last. This step may be simple, and may even seem stupid to some people, but it can make a huge difference when playing.

This next section is primarily aimed at players who frequent the poker tables. Playing poker online is a great way to sharpen your skills and improve your game, but it is also a place where many players blindly bet over and over. At the cash tables especially it is easy to lose track of how much money you are spending and before you know it your being asked to reload your bankroll.

If that situation happens to you a lot then maybe you should consider moving down a stakes level or simply start signing up for tournaments. Signing up for tournaments is a great way to avoid losing big amounts of money because you only spend money once, and that is when you enter the tournament itself. While the gameplay and betting is exactly like it would be at an online cash game, online poker tournaments do not require you to spend any more than the entry fee (unless you can buy back in once you are eliminated) and at the same time they give you the opportunity to win big amount of money. With that being said, picking the appropriate tournament stakes level is equally as important as picking a cash game level that is appropriate for you.

Bet With Your Head

The title of this sections says it all. Smart, aware betting will mean the difference between a good day and a bad one. All too often a player will go on a losing streak and as they lose over and over, their frustration builds. The frustration coupled with the continued losses can obviously drive a player crazy and in this blind frustration they may place a huge wager out of anger. Most often these huge wagers do not work out and in the end the player is left even more frustrated than they were before. Letting your emotions get the best of you is a great way to end your day early with a broken computer and 0 money.

Playing has undoubtedly brought about a revival in games and a revolution in how they are played. Never before has it been so easy to turn your cash into chips and begin playing all your favorite games, but it has also never been easier to lose all your money too. By looking at some of the biggest losses in history you can see where those players went wrong and avoid making the same mistakes as them. The biggest thing to remember is to control your emotions, because if you let them control you you will wind up penniless.