Since gambling became a popular pastime, it has also birthed many terrible gambling strategies that have no place in the community. However, if you want to be a smarter and wiser punter, you should never fall victim to these less-than-stellar strategies, bound to cost you money and peace of mind.
Listed below are three of the worst gambling strategies that anyone with the right mind should avoid.
Using Progressive Betting to Get Back Your Losses
Progressive betting, also known as the Martingale strategy, is a terrible and impractical way to gamble. It is when you double the amount of your wager every time you lose a bet or a match. Although there is, no doubt, the potential to win big here, the potential to lose lots of money is the same.
If you use this strategy and lose consecutively, you can end up having nothing left on your bankroll. If you're the type who has too much at stake, this strategy should never be your go-to. The benefits of this strategy are not worth any risk at all.
Keeping Any Lottery Strategy
There is no proven-and-tested strategy for winning the lottery. All it takes is sheer luck and lots of it. Although there’s nothing wrong with buying a lottery ticket or two, betting every day thinking you have an effective strategy is just a set-up for more money loss.
The house edge at lotteries is always more than 40%, so the chances of you hitting that jackpot is a million to none. Not to sound discouraging, but there are other better ways to gamble and earn a profit than betting on the lottery.
What’s even sadder is that some people take advantage of those who don’t know any better by selling lottery strategies that guarantee sure wins. Remember, these are nothing but scams since the winning numbers generated in the lottery are purely random.
Not Having a Bankroll When You Play
Not having a bankroll when you gamble is a massive disservice to yourself. It's the worst gambling strategy that can result in lots of money loss and disappointment. Setting a bankroll gives you complete control over the money you spend on online gambling. It also teaches you to set a budget, stick to that budget, and keep close track of your wins and losses.
Also, using a bankroll can signal when it's time to stop playing, while not having a bankroll might cause you to spend your hard-earned money carelessly.
You might think this one’s a no-brainer – that no one’s that careless to not have a money strategy when gambling. However, that is not true. Many people get addicted to gambling, whether in the real world or the digital world, so this one can be difficult, especially for those who have a problem staying within their limits.