Buyer's Remorse : How Online Gamblers Beat It
The potential upsides of betting online with casino games are not hard to see, with potential profits of lottery-sized proportions if everything goes perfectly. However, in addition to the obvious possible downside of losses, players can suffer buyer's remorse. Gamblers can seek to mitigate or avoid this entirely, however, by going into gambling with the right sort of mindset.
Avoidance and Resolution
Buyer's remorse is not a new phenomenon. The Romans had a saying: 'caveat emptor' meaning 'buyer beware', and gamblers can have buyer's remorse too. There are two potential aspects when it comes to dealing with this unwelcome state of mind: avoiding it in the first place, and resolving it should it arise. We'll explore aspects of both here at NoDepositWow as they relate to betting online, although many factors will play into buyer's remorse more generally.
One quick piece of good advice is to view gambling as paying for an exciting experience rather than a source of income. Most pastimes have an associated cost, and nobody bats an eyelid at paying for cinema tickets. There is a chance betting will yield a financial return, but don't bet (ahem) on that, because making such an assumption will itself lead to buyer's remorse.
Don't Overdo Match Deposit Promotions - Only Bet what you can Afford to Lose
Just like a hefty discount in a store, a match deposit promotion is not free cash. You are not saving money the more you spend/deposit despite how such special offers might be phrased. If you're intending to deposit $20 anyway and get $20 as a match promo that's great, but if you were only ever intending to deposit $10 because that's your limit then shifting money you can't afford into a betting site is a bad step regardless of any match deposit promo.
Even if you end up finishing ahead, gamblers can have buyer's remorse due to transferring more money into a casino than they'd planned to, due to the siren call of bonuses. It's important to realize what your financial limits are and to stay within them. The first and most critical stage of this is depositing discipline. If you don't deposit too much, you can't lose too much. Decide what you're ok with losing, and then stick to that rigidly. It's entirely possible to win at an online casino but the entire business model is predicated upon the average being a small loss for a player, and you should go into this with your eyes open.
One good way to enable this is to take advantage of a tool many online casinos offer to set predetermined limits on maximum deposits in a given period of time. Whether you find it a challenge to be financially rigorous or are simply a bit forgetful, these limits can help keep you on the straight and narrow.
Make use of No Deposit Deals
A different type of promotion is very well-suited to avoiding any regrets, and that is the no deposit deal. As the name sounds, this type of bonus does not require the player to make any deposit, which also means there's no risk of loss, but there's still the chance to make real cash prizes. This makes it ideal for exploring new games, or even for players who are trying online casinos for the first time. Such offers are pretty common, and if they sound too good to be true then bear in mind they do come with some caveats.
The wagering requirement is a minimum total sum that must be wagered prior to withdrawals being possible (otherwise players could simply withdraw the promo cash right away). The withdrawal cap is an upper limit, typically around $100-200 or so, on what you can withdraw. And certain games, such as progressive slots, tend to be on a prohibited list. But otherwise, no deposit promotions like free spins are a good idea generally and perfect for gamblers worried about buyer's remorse.
Avoid Buyer's Remorse by Cashing Out when Ahead
Defying the odds is great when it happens, but the more you play the higher the chance that your overall result will align with the mathematical average. Unfortunately for players, this means the more you bet the better the chance you incur a loss. Quitting while you're ahead is an old adage and one that's stuck around for a reason. It's not easy to stop amid a winning streak but it is the best way to maximize your profits. When fortune smiles on you, be glad of the favor and accept it, rather than letting greed trick you into trying to win more. Most of the time, you'll simply erode your profits or even turn a black result into a red one. And knowing you threw away a good win chasing a great win can be a major cause for gamblers to suffer buyer's remorse.
Mathematical Models Do Not Work
Some players attempt to employ certain mathematical models, often with games such as blackjack or roulette, in order to increase the chances of or guarantee a profit. Do not do this. Such models literally cannot work. Casinos survive by making profits, which means, on the other side of the equation, the player base as a whole has to make a loss (individual players, of course, can and do finish ahead, the betting site only needs the average to be a loss).
The classic example of this would be the Martingale strategy, whereby players have a certain stake and double this whenever they lose a binary contest (black and red in roulette, for example). When they win, the stake returns to normal. The outcomes of this are a high chance of a single stake profit, and a low chance of a catastrophic loss. The problem is that you can easily end up betting 16 or 32 times your original stake to end ahead by a relatively small sum, which is needlessly stressful and a daft way to bet. And if you lose (and eventually you will) the loss will be massive.
There is another reason to avoid 'clever' strategies like the one outlined above: they're often against a site's terms and conditions, which can lead to a player account being suspended or even closed.
Stay on an Even Keel
There's a military maxim to never reinforce failure, and it's one that applies to betting as well. Sometimes, you'll get lucky. And that's great. But sometimes you won't, and even if you make the right calls in a game like blackjack the cards just don't go your way. Accepting this and acknowledging beforehand there's always a chance this will happen is crucial for gamblers to avoid buyer's remorse. It will also help you to keep a cool head and avoid making silly mistakes due to letting your emotions get the better of you. The temptation to try and chase losses by betting excessively when you've already hit or are close to your limit is something that should be avoided because the odds are you're simply pouring good money after bad. If you're feeling frustrated, or angry, or even a bit cocky when things are going well, that's a strong sign it's time to stop.
On a related note, drink and drugs are not your friends. A little loosening of inhibitions in a social setting is one thing, but inhibitions are a very handy personal trait when it comes to keeping a tight rein on finances. People can get carried away when stone-cold sober; add alcohol to the mix and you're asking for trouble.
Different Games Suit Different Players
Game selection can make a big difference to how enjoyable an experience of betting can be. Some people are better at handling sports betting than casino games, for example. But even within the casino there's a wide range of products to try, from slots, card games, roulette, craps, virtual sports, and bingo, to the live dealer games that replicate a brick-and-mortar casino experience.
Different games suit different people, and if playing one type leaves you unsettled or making poor decisions, leave it and try something else. Getting stressed due to time constraints in a live dealer game and making poor decisions is a pretty good sign it isn't for you. Likewise, if you find yourself endlessly pumping money into a slot that you're not actually enjoying but feel is 'overdue' a win is a bad sign (spoiler: it is never 'overdue' a win. Slots are designed to be random).
In addition to game types, some have varying stakes that might suit your preferences. There's nothing wrong with playing with bottle tops or laying down larger sums provided that you're comfortable with any losses you may incur. And if things are going well, don't increase your stakes, because if the worm turns you'll rapidly turn a profit into a loss.
Acceptance of Potential Gambling Losses
Understanding of what betting is and how it works brings clarity of mind, and this understanding should be at the forefront of a player's mindset. Gambling is inherently risky. This does not make it a bad thing (a man might risk looking a fool when asking a woman out, but that's no reason not to do it). But it does mean that players need to be aware there's every chance of suffering losses, and to be prepared for that on a psychological level.
A man who thinks a woman ought to go out with him as a matter of right is destined to be frustrated because he doesn't understand how the world works (nobody owes anyone a date). In the same way, players who think if they just try hard enough they're bound to win at betting are almost certain to find that reality does not agree with them, and feel frustration, anger, and buyer's remorse. Wise gamblers understand that sometimes daft decisions can lead to success, and even making the right choices don't assure a profit.
This also plays into the tight financial rein point made above. Players can and do make winnings on a regular basis, but the idea this can be guaranteed is not merely optimistic, it's unrealistic. And such an assumption will lead to disappointment because players who think that way go into betting believing a standard result (or one achievable if they just try hard enough) is for the player to finish ahead. You cannot guarantee that. The dramatic tension of not knowing and excitement when things turn out well is the joy of betting. Often, players finish behind, and if you're unwilling or unable to cope with that then the only options are to change your mindset, lower your stakes, or find something else to do.
Check the Rules and Avoid Buyer's Remorse
This might sound obvious, but table games like blackjack and roulette have numerous variants and sometimes differing rules can make a very significant difference to the chances of finishing ahead. Dealers normally hit on 16, but this might not always be the case. And sometimes the payout for blackjack might be less than you're used to, which can be galling if you only discover it when your winnings are less than expected.
Similarly, some slots only offer the top prizes to those playing with higher stakes, and understanding how mini-games work ahead of time is important to avoid blowing what might be a rare opportunity for a big win. Try to also choose casinos with a good variety of games so you can get a better idea of what 'works' for you, or simply find titles that are more fun. A couple of great no deposit casinos to consider are 888 Casino and Jackpot City Casino.
Playing online casino games can be a lot of fun, but gamblers can suffer buyer's remorse like everyone else. Hopefully this list of suggestions will help you avoid that and have a good time both when you're playing, and afterwards too.