Playing casino games can be thrilling and scary at the same time. However, the fun part shouldn’t overwhelm any fears you may experience. Here is a list of common fears, as well as how to stop fear from ruining your enjoyment when playing online casino games.
Fear of the unknown
When playing casino table games or even online slots, there is no certainty; these are games of chance, where the outcome is unpredictable. In fact, random number generators (RNGs) are a feature of online casino games, as they provide a completely random outcome for such games.
The way people respond to the unknown will depend on how afraid they are of this state. Some people flourish in uncertain times, whereas others can be emotionally paralyzed. There are ways, however, to overcome this fear.
One way to overcome this common fear is to be armed with all the relevant information. So, make sure you understand all aspects of gambling gameplay, including casino etiquette. Before you even set foot in a casino or start playing online casino games, make sure you know what casino table games you want to play and how to play them. When it comes to online slots, do you, for example, know what RTP stands for and how it works?
In case you don’t, RTP – return to player – is the percentage theoretically returned to players on online slot machines. If a machine has an RTP of 97%, this means that for every $100 spent by a player, $97 dollars will, on average, be “won”. This does not mean that you will always receive 97% back. Instead, it’s an average across all players on that particular machine. The best online slots have an RTP of 96% or higher.
Here’s another fact you may not know. Land-based casinos have lower average RTPs than online casinos. Online slots have an RTP of around 94% to 98% compared with an average of 70% to 74% for land-based casinos. The more you know about the entire list of casino games you enjoy playing, the less likely you are to experience fear of the unknown.
Fear of loss of money
You may have heard of behavioral economists Daniel Kahneman and Amos Tversky. They came up with prospect theory, a behavioral model that shows how people make decisions based on the likelihood of losses or gains. They determined that losses loom larger than gains – the pain of losing is, psychologically, about twice as powerful as the pleasure of gaining. When it comes to online casino games, a fear of losing can be very powerful.
How can we overcome this fear sensibly? Here are some ideas:
- Decide beforehand how much money you’re willing to lose when playing live dealer casino games or slots.
- Understand when you can double down, particularly in games like blackjack, and when you need to walk away from the table. Playing it too safe can lead to missed opportunities.
- Alternatively, if you’re on a losing streak, step away from the table. This gives you the opportunity to reassess your progress and goals.
- Don’t get too wrapped up in gambling for profit. Playing casino games is meant to be fun.
- Understand the house edge – the average gross profit that casinos expect to make from each game. The longer you play, the greater the chances that the result of your play will mirror the house edge and you will lose money. Factor this variable into the time spent enjoying online slots or live dealer casino games.
Fear of giving back profits
This is a major psychological hurdle – many players fear giving back any money they have gained. However, it’s totally normal to lose some money when enjoying your time playing games at a casino. To overcome this fear, you need to have a proper betting system in place and follow a stringent bankroll management system with clear stop and start points. Also, put aside a percentage of your winnings each time you are profitable.
Here are some tips for managing your bankroll:
- Separate your casino playing money from your personal finances. Stick strictly to this budget.
- Don’t chase previous losses with reckless play.
- If losses have decreased your bankroll, lower the amounts you’re betting.
- Keep track of your sessions – this can be extremely valuable in connecting your mood or emotion to your gameplay.
Put your strategy to the test at BetMGM
Now that you have some techniques for conquering your fears, it’s time to enjoy a wide range of stimulating casino games at BetMGM. Register today to enjoy live dealer casino games or online slots. There is certain to be something that interests you greatly. Casino games at BetMGM are always fun and entertaining.