According to a survey by the U.S. Travel Industry Association, 38 percent of all U.S. residents have been to Las Vegas in their lifetime. Visitors and tourists should keep in mind that certain life lessons don’t apply inside a gambling establishment.
Gamblers may encounter problems when they adhere to principles that are counter-productive when applied inside a betting parlor.
1. “A winner never quits and a quitter never wins.”
Football legend Vince Lombardi said that. This is one creed that many people adhere to, especially individuals with ties to sports. However, the opposite is true when you’re inside a casino.
Determination may be an asset in real life. But when it comes to gambling, determination is a liability.
A “winner” knows exactly when to quit, and that moment arrives when a bettor has reached his gambling limit. A good practice is to establish an entertainment budget — a bankroll — of say, a thousand dollars. Whatever the amount, it should be money you can afford to lose.
Games of chance are not the same as athletic competition.
2. Keep hope alive.
Out in the real world, hope gives people a reason to be enthusiastic about their future. But don’t bring (false) hope inside a casino.
A lottery-type game with a 50 percent payout makes it economically disadvantageous for players to aim for the jackpot. Wagers should be considered entertainment expenses; not investment capital with expectations of long-term yield.
We can dream of owning a mansion; just don’t let those expectations get out of hand.
3. Bring out the wine.
In the real world, alcohol and entertainment usually mix. But this adage never applies when you’re inside a casino. When risking hard-earned money, you need to be sober at all times.
Psychiatrists have found a strong link between alcohol dependence and gambling problems, according to research published by the Canadian Journal of Psychiatry. Many casinos offer free alcohol, but these beverages dull your senses and impair judgment.
Financially protect yourself by having self-control.
4. Optimize your system.
At work, you may find yourself constantly improving business processes and activities. However, no system can (legally) beat the odds inside a betting establishment.
There are no benchmark practices or “optimized systems.” In the long-run, game designers have ensured that the house always wins.
Sketchy individuals may try to sell you on pseudo-scientific methods they claim will beat the casino. Ask yourself this: Why would they share such “secrets” in the first place? Because it doesn’t work.
If you take a close look, you’ll likely find these people are trying to make a living earning commissions from fraudulent claims and faulty logic. Know that in every game, the odds are always tilted in favor of the house. That’s how casinos generate revenue to pay their bills.
5. Dive right in.
In real life, we often dive right in when it comes to entertainment and leisurely activities, such as playing table tennis or riding the jet ski. Similarly, at the office we’re encouraged to immediately work on the tasks at hand.
Inside a casino, don’t just (blindly) dive in. It’s better to exercise due diligence before risking your money on a game of chance. Know the games and understand the rules before betting any money. You’ll improve your odds and have a better time.
The dealer may or may not help you, but the responsibility falls squarely on your shoulders. There are no refunds for lost wagers.
Now shuffle up and deal!