The next time you enter your favorite gambling venue, remember the list of five gambling tips you are about to gather. In case you happen to win a certain amount of money while you are there, think of it as a bonus. Wise gamblers are aware that having fun is the primary purpose of gambling since the house — or a casino — generally has the advantage. However, there are ways of enhancing your odds and managing to win a trophy from their treasure boxes.
Be Aware of Your Own Limits
We are aware that the subject of money management has a tendency to be boring and that keeping track of your losses in the middle of the action at a casino is a difficult task. However, it is essential that you determine your budget and not to exceed it. Facilitate that task by deciding on the amount of money you can afford to lose prior to entering a casino. Never risk funds you have set aside for bills, mortgage, medical expenses, groceries, etc. The majority of people make budgets for entertainment purposes, such as going to the movies, dining out, or sports, and gambling is not an exception. Play only on the condition that you can afford to lose. If you happen to win, do not hesitate to leave the venue with your money instead of continuing gambling. The casino is unlikely to close within a day, and you will be able to visit it again.
Furthermore, set time restrictions for your play, per single game and overall as well. You ought to take frequent breaks in order to have something to eat or have a drink. Once you are back at the table or a machine, abide by the rules you have established and respect your curfew even though you may feel like Cinderella. You are not the only one to set your time restrictions — your budget does it as well. In case you lose the money designated for gambling within one hour period, you are done, so go home.
Ultimately, when you reach the final stage of a game in which you are supposed to outplay your opponents, it is highly important that you have a clear head. Therefore, if you consume alcohol, do not exaggerate. Having more than one drink on an hourly basis can significantly influence your ability to play efficiently. Set your restriction to alcohol consumption as well or be prepared to go home empty-handed.
Take Advantage of All the Features
Making the most out of your wagers means benefiting from all the promotional offers a casino features. Do not forget to join the players’ club in order to obtain comps and always use your membership card when you gamble regardless of the period of time you plan to spend at a casino. If you are a table games aficionado, present your card to the dealer every time you approach the table.
Remember to report your arrival at the players’ club counter whenever you enter a casino. Moreover, sign up for notifications regarding promotional material so that you can be up to date with everything a casino offers. As little as several points can make you eligible for a free meal, a drawing, or provide you with cash or a present. Gambling venues commonly tend to entice new customers by offering them a certain number of points or a certain amount of cash in order to get them to sign up for their membership card. Therefore, make use of everything you are offered. After all, your goal is to profit from your investments.
The concept of making the most out of your bets is applicable to slot games as well. Numerous newly developed slot machines offer a wide range of options when it comes to the number of credits and paylines as well as the number of credits per one payline. However, such games tend to be confusing at times, so always read the info screen before you start playing. That way, you will determine how to land a bonus round or achieve a top payout. Even though you may not be able to reach maximum payouts, make sure to play enough credits in order to land a bonus round as it is the most exciting and lucrative part of the game.
The same goes for video poker in terms of max credits. Note that you cannot form a royal flush and subsequently receive an adequate payout unless you play at least five credits. Although a royal flush is an ultimate goal of every video poker player, note that it is not that common. However, you are free to play one or two coins for practice to see how the game works.
Smile for the Cameras
Nowadays, every gambling venue has cameras, commonly referred to as eye-in-the-sky in casino jargon. Their purpose is to protect the house; however, they may prove to be rather useful in case you encounter an issue in terms of payouts, card shuffles, or any other inconvenience. Since you are always watched when you are at a casino, from the instant you enter it until the moment you leave, mind your manners. However, watch your personal belongings carefully instead of relying on cameras. They may capture a potential thief, but they will have long disappeared before the authorities review the tape and have a chance to react. Always be cautious and keep an eye on your valuables.
Furthermore, be aware of the fact that casinos prohibit you from taking pictures while you are at their property, regardless of whether you are gambling or simply walking at the moment. In case you wish to capture the moment of a big win or have a photo taken of you with a poker hero, request the permission, preferably from the casino manager.
Know the Rules by Heart
Whether you believe it or not, a small number of gamblers actually abide by this rule. However, familiarizing yourself with the game you are about to play prior to placing a wager significantly enhances your chances of winning and having fun. For instance, if blackjack appeals to you, but you are not familiar with the rules, it is recommended that you read about the game and observe others playing it before risking your funds. Think of it this way — you would not dare to play a game of basketball with a professional player and bet your money on it. Casino games work in a similar way. Winning a casino game you know nothing about is about as likely as outplaying a professional basketball player on a field.
Once you familiarize yourself with the rules of a game, remember that the main bet implies the smallest house advantage, regardless of the game. Bonus bets are the ones that are risky since they usually imply a house advantage that is five times higher in comparison to the main bets. For example, while the pass line bet in the game of craps implies a house edge of 1.44%, wagering on an 11 implies an 11.11% house edge. Furthermore, the Lucky Ladies side bet in blackjack implies a house edge of 25%. However, there are blackjack players who actually manage to play the game at a disadvantage of about 2% to the casino.
Do Not Be Intimidated by the Taxman
Similarly to any income, gambling money is taxable. Once you win, there are two possible scenarios that can occur. Either a casino will deduct taxes prior to delivering your money to you, or you will have to report your gambling income to the IRS. In case your winnings happen to exceed a certain amount of money, the gambling venue is likely to present you with a W-2G, a document that indicates the amount of money you have won as well as taxes that have been withheld.
In order to ensure you abide by the rules, keep a record of the amount of money you spend, win, and lose each time you enter a casino. Even if your winnings are small, it is mandatory that you report them. Having a diary will prove useful in case of an inspection of financial records. Alternately, if you happened to have endured a net loss for the year, you will be able to prove it. Whichever way it may be, keeping a record is the only certain way to know if you need to give Uncle Sam his portion of your income.