3 Reasons Average Gamblers Lose Money

By Michael Stevens in Casino & Gaming on August 23, 2019

6

Minute Read

If you’re losing money gambling, the odds are that it’s because of one or more of three things. In my experience, every losing gambler falls into at least one of the categories below.

The good news is you can take steps to change once you recognize the problem. Of course, you might decide that you don’t really want to change once you learn what’s required to change, but at least you can make an educated decision once you learn what’s happening.

Before you dive into the main sections of this page, I want to make a couple of things clear.

The sections below are designed to help you understand why you’re losing.

They aren’t designed to be judgmental in any way. I know plenty of gamblers who are happy to trade money for entertainment and don’t have a problem losing.

They don’t necessarily like to lose, but they win sometimes and lose sometimes, and lose overall in the long run, but they still have fun. They don’t want to work at improving their gambling skills and tend to use gambling as an escape from the everyday grind of the rest of their life.

If this describes you, then by all means, continue gambling the way you do now. But you still should read the sections below because you might still pick up a few tips and tricks to help you improve your results, even if you’re not interested in putting a lot of time into improving your game.

1 – Treating Gambling Like a Hobby

What’s the difference between a hobby and work? For some people, they’re pretty much the same thing. But for most people, a hobby is something they do for fun in their spare time, and work is something they do for money. While a person might try to improve in both areas, things are usually more serious when it comes to work.

Most people treat gambling like a hobby. They go to the casino, track, poker room, or gamble online, as an escape from everyday life. Their main goal is to have fun while having a chance to win some money.

Friends Excitedly Gambling Playing Craps

The problem with treating gambling as a hobby is that most people aren’t interested in working too hard at a hobby. This means that they don’t take the time to study and work at improving or finding ways to lose less or win more.

I enjoy learning about different gambling activities and strategies, so when I’m trying to learn how to beat a game, I’m having fun. Sometimes the process of learning how to be a better gambler is as much fun as actually gambling.

But even if you don’t enjoy learning about gambling as much as I do, you can still improve your results by taking it just a little bit more seriously.

If you want to know how to spend an hour now that improves your gambling results for the rest of your life, here’s how to get started.

Find out what the house edge is for the gambling activities that you do now.

Then find a game that has a lower house edge and learn how to play it.

Woman Cheering While Playing Slots

If you’re like many gamblers, you enjoy playing slot machines.

The problem with slot machines is that they have a high house edge. You can learn how to identify video poker machines with good pay tables, pick up a strategy card for the game, and go from playing with a house edge of up to 10% or more to playing with a house edge of less than 1%.

When you make this switch, you have a better chance to win, and your bankroll lasts much longer. And you can learn how to do this in a short time.

In a casino you can learn how to find good video poker machines or blackjack tables and learn how to use basic strategy for each game and improve your chances of success.

If you want to learn how to have a real chance to make money from gambling, it’s going to take more work and time, but you can do it if you want to.

You simply need to stop treating gambling like a hobby and start taking it seriously.

So far, I’ve discussed casino games. Before moving on, I want to quickly cover two other gambling activities. Some gamblers bet on sports for entertainment, and some enjoy playing poker. Both of these activities offer an opportunity that’s rare in the gambling world. You can actually win more than you lose playing poker or betting on sports.

The way to make the transition from playing for fun and playing to win is to stop treating it like a hobby. You have to become a student of the game and dedicate more time and effort if you want to improve your results.

The choice is yours; you can continue playing as a hobby, or you can start taking things seriously and start improving your results. For poker and sports betting, it takes longer than an hour, but the end results are still worth the extra effort.

2 – Ignorance

Ignorance is the most common problem when it comes to losing gamblers. It isn’t that they’re dumb; it’s simply that they don’t know what they need to know. The good news is that if you’re ignorant in some area, like gambling, all you have to do to correct the issue is to learn more.

Today you can choose from hundreds of books about gambling and find thousands of videos online as well as articles about gambling on thousands of websites. If you want to learn more about any type of gambling, all you have to do is start looking.

Man Reading Gambling For Dummies Book

I like to read, so I look for books about gambling games that interest me and read online articles. Other people I know enjoy watching and listening more than reading, so they look for videos about their favorite gambling games.

I mentioned playing games with a lower house edge in the last section, and it’s a perfect example of what I’m talking about. If you don’t know what house edge means and how it rules your wins and losses, the first thing you need to do is learn more about it.

The next step is learning what the house edge is on particular games and how you can use certain strategies to alter the house edge while playing some games. Once you start to realize what you don’t know, you can start taking steps to learn. When you eliminate ignorance, you learn how to improve your results.

3 – Laziness

Laziness ties into the other two issues I covered above. As I mentioned earlier, if you aren’t interested in improving your gambling results, it’s fine. I don’t judge gamblers who just want to place some bets without thinking about anything. But if you’re seriously interested in having a better chance to win, you’re going to have to stop being lazy. The choice is yours.

Man Being Lazy Sleeping At Work

I’ve found a simple system that I use to improve in areas of my life where I tend to be lazy. It’s not an earth-shattering system, but I’ve found that it’s helped me several times over the years. The thing that goes hand in hand with laziness for me is procrastination. This system eliminates the procrastination, which tends to minimize the negative influence of being lazy.

In any area where I’m lazy and want to improve, I simply schedule 15 minutes a day to work on it.

Though 15 minutes isn’t much time, I find by simply getting started, I accomplish a great deal. You can use this same system to improve your gambling results.

Start by spending 15 minutes every day learning about the gambling activity that you enjoy now. Spend as many 15-minute sessions as you need to learn everything about the activity as possible.

Then start exploring other gambling activities to see which ones might offer a better chance to win. Before you know it, you’re going to start seeing improved results, and it only costs you 15 minutes a day.

Conclusion

Do you have one or more of the gambling issues covered on this page? If you do, now that you know what the issue is and how to fix it, you can start taking steps to become a better gambler.

And if you decide you don’t want to make any changes, at least you can make the decision in an educated way. But even if you’re not interested in making a big change, consider spending a single hour now learning about low house edge video poker or blackjack, and you can benefit every time you gamble for the rest of your life.

Michael Stevens

Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016.

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