All casino games are based on sheer chance. There is a 50/50 chance for players to make a fortune or lose it all. It’s quite common for players to have a bad streak. But, what if you are having a good streak? What if every bet you wager, every slot you spin, every dice you roll, and every card you guess is right? Should you play on or should you quit?
Knowing when to quit is an essential skill you need to have to make it big in an online casino. Quitting at the right time can save you money and time. So, this article sheds light on a few interesting facts about quitting at an online casino. Read along to find out when to stop gambling and what to do with your winnings after you have quit.
When To Quit If You Are Winning?
- You Reach The Goal: Set a goal before you start playing. You can set a daily goal, a weekly goal, or a monthly goal. If you reach that goal, withdraw the winnings and walk away. After consecutive wins, you might think of wagering your winnings again for an even higher payout. It will not play out that way as these are games of chance and there is an equal amount of chance for you to lose.
- Time Limit: Set a specific time limit for you to gamble and never exceed it even if you have a winning streak. When the time allotted for gambling ends, cash out the winnings immediately. Or if you are losing consecutively, stop gambling when the time ends.
- Break Schedules: Take regular breaks during gambling. Even if you are having a winning streak. Stepping away from casino games can refresh your mind and help you devise new strategies. If you are losing the game even after multiple tries, taking a break will help you reevaluate the situation.
- Stop Loss: You might start to lose chips after a series of winning streaks. New payers might play the game again to win back the money lost. This can lead to even bigger losses. If you have a winning streak and suddenly start experiencing losses, it’s better to stop gambling as your luck might have run out.
- Set Rules: Every casino player needs to set certain rules and limits. You should never deviate from the rules, even when you are having a winning streak. This helps you to remain calm and stay rational. It also allows you to be ahead of the curve, controlling the game and your winnings.
What To Do With Your Winnings?
After you quit while having a winning streak, what should you do with your winnings?
- Withdraw: If you are having a winning streak and reach your maximum winning limit, never test your luck again. You should immediately stop gambling and secure your funds. Withdraw the winnings from the game as quickly as possible. Casinos want you to reinvest the winnings in other games so that you lose and they won’t have to pay you. If you have met the wagering requirements, it is better to withdraw the winnings.
- Gamble With Limits: If you have a higher risk appetite, you can gamble your winning. But, by setting certain limits so that you won’t lose your entire winning amount. As a rule of thumb, you can reinvest 10% or 20% of your winnings in casino games. If you win the game, the additional winnings are a bonus. However, if you lose the game, you have only risked a small percentage of your winnings. Also, never go beyond the limits set.
- Set It Aside For Another Day: Some casino players never withdraw their winnings. They use it to bet on new games. Casino games after all are means for entertainment. You can set aside your winnings so that you can gamble with it another day. To prevent losing your entire winnings, it is better to place small bets.
How To Get Over A Loss?
- Take A Break: If you are experiencing a series of losses, taking a break will calm and re-energize you. Take regular breaks during gambling so that you can reevaluate your gameplay and use new strategies.
- Open Up: If you are having a bad streak and lost your deposits, stop gambling immediately. Acknowledge what you are going through and open up to someone about how you are feeling.
- Stop Chasing Losses: Since all casino games are based on chance, you can win or lose consecutive games. If you are having a losing streak, never bet more and more to win back the losses. This will lead to huge financial burdens. The best thing to do is acknowledge that the odds are against you and the money’s gone so that you can move on.
Conclusion
Gambling is a means of entertainment. It should never be seen as a method to earn money. If the odds are stacked against you, no matter how hard you try, you will always lose the game. Therefore, to make the most out of it, you need to set certain rules and stick to them, even if you are winning consecutively. Following these rules, at the end of the day will help you become a seasoned casino player and help you make profits.
Just like setting a limit for losses, you should also set a limit for winnings. If you reach the limit, then stop playing immediately and cash out the winnings. Your inner urge to play more will only result in losses as you can never replicate luck. Setting a limit for winnings is essential if you tend to become addicted to gambling. Overall, knowing when to stop playing when you keep winning is an essential skill every casino player should have.
Read More: Closing An Online Casino Account
