When heading out to the casino to gamble, the reality is that most players will head home losing a little money. This is normal since casino games are constructed so that the players are at a statistical disadvantage. Nevertheless, a bit of good luck can go a long way, which is why many players manage to beat the odds and win. Some gamblers simply cannot seem to ever get Lady Luck on their side, which is probably because of the following toxic traits that lead to their loss.
Impatience
When even the best video poker and blackjack strategists on the planet are up against 0.50% house edge on average, you need to accept that it is going to be much more challenging for ordinary players. For the people who enjoy pure games of chance such as roulette and slots, random variance decides the results over the short and long term. Armed with this knowledge, winning gamblers often force themselves to stay patient while riding out the swings between positive and negative results. On the other hand, gamblers who lose a lot of money consistently tend to allow their impatience to get the best of them. When the first few minutes of the play fail to give them the profit they need, they frantically resort to trying to chase their losses. They may suddenly start placing much larger bets, in hopes of recouping their lost bets in one swoop, or maybe they might abandon basic strategy guidelines in the hopes of finding a rare gin card still left somewhere in the deck.
Risk Aversion
There is a saying among gamblers that goes “Scared money doesn’t make money”, which stems mainly from high-stakes poker, where bold players who are not afraid to bet big can easily intimidate opponents who do not dare to call their bluff. However, this fundamental concept can be applied to any skill-based casino game since players who cannot make a decision when an edge arises ultimately leaves money on the table.
Impulsiveness
Being able and willing to bet big when the moment calls for it is very brave and bold, but losing gamblers often confuse healthy risk-tolerance with reckless abandonment. Such players cannot seem to walk by a craps table without trying their luck at the dice. They are the people who will always have a few chips at the ready to splurge on single number longshots in the case of roulette and who always double down in blackjack, even when basic strategy books advise against it. Impulsive gambling is not to be confused with compulsive gambling, a plain lack of discipline can cost so many players hundreds of dollars at the casino. Placing a bit simply because it is available might be entertaining, but will seldom have the best odds and payouts.