Gambling is much like every other activity in life – there are pros and cons to it. If you’re going to play casino games online, you have to take the rough with the smooth, and you have to learn how to manage your emotions both after big wins and during losing streaks.
At RealMoneyOnlineCasinos.com, we’re online casino experts. We’re going to talk you through the pros and cons of gambling so that you have a realistic expectation of what to expect if you choose to play at one of our approved casino sites.
The Pros of Gambling
Some of the advantages of gambling are obvious, while others may be more subtle and you might only realize them when you’ve been doing it for a while.
You Can Make Money Quickly
Note the word can in the previous heading. You can also lose money, but it wouldn’t be gambling without an element of chance. You know the old saying “No risk, no reward”? It’s true, and that applies to gambling, too.
Yet, part of the reason gambling is so thrilling is because you can make huge amounts of money quickly. One lucky streak while using the martingale system for roulette can put you up thousands, and one lucky spin on a slot machine can make you an instant millionaire.
Let’s take a look at an example of how quickly wins can mushroom when playing roulette. In this example, we’ll start with $100 and place even-money bets like red/black or odds/evens. We start with $100, and if we win, it’s $200. Bet the same $200 and win, you’ve got $400. Take your original $100 off the table and bet $300, and you’ve got $600. Bet the $600, and you’ve got $1,200. If you’ve got the guts, throw down the $1,200 on a high limits game, and you’ll be up to $2,400.
That’s $2,400 profit in a couple of minutes. We’ve seen roulette winning streaks extending 12 spins of the wheel, so don’t think it can’t happen.
By far, the biggest advantage of gambling is the ability to make fast money. Yes, the house always wins overall, but lucky players do win big in the process.
Gambling Is Seriously Entertaining
One of the biggest problems modern human beings face is boredom. We seek entertainment in all kinds of ways – going to the movies, visiting nightclubs and bars, watching sports, etc.
All of this can get expensive. A night out can cost you hundreds of dollars, and you’re guaranteed to come home with nothing.
Gambling doesn’t have to be like that. $100 deposited into an online casino can last you hours. If you play low volatility slot machines and place minimum bets, that $100 could last you all weekend.
The ups and downs of winning and losing, the testing of different strategies to try to beat the house, and the thousands of different games available at top online casinos means gambling is more fun than ever.
Be careful, though. Gambling is so much fun that it’s highly addictive to some people. Always set limits on what you can afford to lose and never deposit more than that under any circumstances.
You Can Make Money Doing What You Enjoy
We’ve already covered that you can make money quickly by gambling, but this is more about the feeling that comes with that.
Let’s face it; most of us wouldn’t show up to work on Monday if we won the lottery. Very few people are blessed enough to have a job they genuinely love. Making money is a grind for most people, but certain gambling games offer a way to make money doing something you actually enjoy.
Believe it or not, there are certain gambling games which you aren’t mathematically destined to lose. Some video poker variants can be won consistently with skill and practice. Most players quickly learn that blackjack is a game of both skill and chance. If you apply yourself to learning poker strategy, you can take thousands from other players in online poker tournaments.
Think about it – there are professional gamblers out there. That would not be possible if they couldn’t make a consistent living. They know that the trick is to pick the right games – those with a low house edge or no house edge at all. You can’t become a professional keno player, but you can become a poker pro. This offers many dedicated gamblers a way to make money by playing games they genuinely enjoy.
The Cons of Gambling
Gambling isn’t all big wins, playing fun games, and sheer entertainment. It’s a series of ups and downs, and there are some gambling cons to be aware of, too.
The House Always Wins (In the End)
If you play any form of game against the house (casino or bookmaker), you’re destined to lose in the long run. There’s math behind all casino games which makes it a 100% certainty that if you play over a long enough period of time, you will lose money.
For example, the house edge on some slots machines is greater than 10%. With blackjack, you can get that down to 0.5% with a perfect blackjack strategy. Either way, the house still has an advantage, and over hundreds and thousands of hands or spins, the house will take your money.
The trick with gambling is to get out while you are ahead. The casinos know that most players don’t have the self-discipline to do so and that greed will override most people’s logic in the heat of the moment.
Likewise, a bookmaker always sets the odds so that even if you win, enough other players lose that he will still make a profit. That’s just the way it is. Be aware of it and walk away when you are ahead.
Gambling Can Be Addictive
At Realmoneyonlinecasinos.com, we don’t want a single problem gambler to exist. It sucks that some players get addicted to casino games, and we really wish it wasn’t the case. Yet, just as some people insist on driving cars too fast and under the influence, some players will ruin their lives by gambling too much.
Certain personality types really should not gamble. If you’re the type of person who struggles with alcohol and drugs, for example, we’d advise you to give gambling a miss. It’s likely that you have an addictive personality, and the rush gambling gives you can be greater than that of any substance, so you’d best be careful.
There are ways to make sure you don’t fall into problem gambling. Set firm limits on what you will or can spend, be open with people who will hold you to account about how much you gamble (e.g. spouses), and don’t chase losses.
The addictive factor is most definitely one of the cons of gambling. It doesn’t apply to everyone, but for those it does affect, it can be a serious problem.
You Do Not & Will Not Always Win
Many new gamblers don’t understand just how big the financial swings can be in gambling of any kind. You can literally be up hundreds or even thousands and end the night with zero. Likewise, you can be down to your last $0.50 and hit the jackpot on a slot machine for $50,000.
Gambling is a wild ride, and especially in the case of casino games, it ridiculously unpredictable. As a casual player, you won’t make money at gambling consistently.
Always remember that the math of the games favor the casino. When you have a big win, have the common sense to withdraw it, or most of it, and enjoy yourself.
One of the cons of gambling is simply that it’s not a reliable way to make money. View it as entertainment, enjoy the wins when they come, and don’t quit your day job to pursue gambling.
Is Gambling Worth It?
That’s a decision you’ll have to make for yourself. You’re now aware of the pros and cons of gambling, so you will have to decide if it’s worth it. If you ask a player who has won a slots jackpot, they’ll tell you yes. If you ask a problem gambler who has lost his home, he’ll tell you no. It’s all in your perspective.
Whatever you do, gamble responsibly, enjoy yourself, and never bet more than you can afford to lose. A great way to get started is with a risk-free no deposit bonus. Pick one, try some games, and find out for yourself if gambling is for you.