Whether winning a big payout or suffering a losing streak, casino gambling will always make for an exciting experience. Indeed, the ups and downs inherent in these games of chance can sometimes make you feel as if you’re on a roller coaster, and can potentially cloud your better judgment.
That’s why it’s important for gamblers, especially novices, to understand exactly what they’re getting into before they login and begin playing. Below we detail four pitfalls to avoid in order to maximize your chances of winning and avert potential disasters.
1. Playing on unregulated casino sites
Before New Jersey lawmakers legalized online gambling in 2013, the only iGaming options open to players were at illegal, unregulated offshore casinos. In fact, a recent study by Rutgers found that before that time, nearly two thirds of NJ online gamblers had wagered at a black market website.
These types of casinos have become infamous over the years for employing sketchy business practices, rigging casino games, not paying out jackpots or simply running off with their players’ money.
Yet even though the industry is now legal in New Jersey, offshore casinos continue to target Garden State gamblers. For example, a simple Google search for “online casinos” can yield results from not only legal sites, but offshore sites as well, both appearing appearing side-by-side.
That’s why it’s important to verify that the site you choose is among those officially licensed by the state. On NJ Online Gambling, we only promote legal NJ operators, so you will never find an offshore site listed here. To be completely sure about your pick, however, you can visit the New Jersey Division of Gaming Enforcement’s (DGE) website and check out the official list.
2. Not reading bonus terms
Nearly all NJ casino sites offer new players a small free money bonus just for registering an account, along with a much larger bonus when they make their first deposit. These introductory bonuses are one of the best perks of playing online, and are not something that you will find at a brick-and-mortar casino.
Of course, online gambling operators aren’t simply going to lavish you with free cash without expecting something in return. This is why you must always read the terms and conditions before making your deposit. Before you can actually cashout your bonus, you’ll usually need to complete a playthrough requirement, which means gambling a certain multiple of your bonus amount.
For example, Betfair Casino currently offers an attractive deposit bonus of 100% up to $1,500, which comes with a 20X playthrough requirement. That means if you deposit $300, you’ll receive a $300 bonus, but will need to wager $6,000 ($300*20) total before you will be able to cash it out. So make sure to read the fine print before you put your money at play.
Read more about how deposit bonuses work.
3. Making bets with huge house edges
We all know that in the long run, the house has the advantage when it comes to casino gambling. But all games/bets are not created equal, and some give you a much better chance of winning than others. In fact, many bets offer dismal returns and should be avoided completely. Before wagering real money, be sure and do a little research on the odds of the games you’re interested in, it can save you a lot of cash down the road.
The right bets in the right games
When you play certain games, like blackjack, using the mathematically recommended strategy, the house might eke out an edge of just 1%, giving you an almost 50-50 shot of winning. Other games, like craps and roulette offer bets with similarly attractive odds, alongside longshot bets that should be avoided at all costs. For example, the “don’t pass” and “don’t come” bets offered in craps give players the best shot at winning, while the “Any 7” bet carries a massive house edge of 16.67%.
Slot odds can vary greatly, and can carry a house edge of between 2-10% or more. Before playing slots, make sure to check out the game’s paytable and find out its return to player percentage (RTP).
Of course a game like keno, which can have an astronomical 30% house edge, should be a nonstarter.
4. Chasing losses
The high highs of winning big at the casino should be contrasted with the low lows that can accompany a loss. Ask yourself, if I lose my deposit during a session, will I be able to walk away unfazed? If the answer is no, beware. You should never put money at risk which you cannot afford to lose.
Losing big is not fun, and it’s a feeling most of us want to make go away as quickly as possible. This is when many put themselves at risk of digging a deeper hole by trying to chase their losses, betting even bigger than they had been before. Instead, create a stop-loss limit for yourself before you hit the tables, and be sure to adhere to it if you reach it.
Activating problem gambling options
If you find yourself constantly overstepping those bounds, consider employing one of the problem gambling measures provided by all NJ online casinos. These include blocking access to your account for a certain time period, imposing deposit limits, wager and time limits, or loss limits. If you feel like you can no longer control your gambling, you can exclude yourself completely by filling out the DGE self exclusion form. You’ll find more resources for gambling addiction here.
Gambling online can be a thrilling experience, but can also be fraught with risk. With the right knowledge, you can avoid potentially disastrous situations and give yourself the best chance at winning big.