Vol. 5 No. 2, February 2008
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Gambling for Fun
5 reasons why responsible gambling is a goal both at work and at play
Many of us are around gambling all day. The last thing some of us want to do when we get off work is to head back to a casino to gamble for “relaxation.” But there is a large contingent of folks in the casino business who enjoy their jobs exactly because they enjoy gambling. It’s a fascination for some, a way of life for others.
Watching other people gamble makes some of us believe that we know the games better than our customers. We see them make mistakes we know we wouldn’t make. We see them use strategy that we know from experience cannot succeed. And we’re sure we can do better, especially if we hit one of the “streaks” that so many of our customers seem to miss.
But we also see players who seem to be possessed when they gamble. They sweat the money. They get ultra-upset when they lose. Or they get quiet and seem to mutter to themselves.
Now none of these behaviors is a clear indication that any given player is a problem gambler, but we know that we would never let it affect us that way.
But when you gamble, you must remember the things that are so clear to us when we’re on the other side of the table, slot or video poker machine. The experience of gambling can give you momentary or permanent amnesia if you aren’t aware of what’s going on. So here are five suggestions to ensure that your gambling experience is a pleasant one, one that focuses on entertainment and doesn’t turn you into one of those zombies who never seem to clear your work area.
1. Plan your gaming experience. There are plenty of books that will teach you about each game. Even if you know how to deal each game, that doesn’t mean you understand it. There are plenty of tricks of the trade you can discover by reading the experts. Know your limits. Understand the games you enjoy. Remain rational and avoid getting emotional. Ease up on the alcohol when you gamble as that could impair your judgment.
2. Use money management. You normally have a good idea how long you’re going to be gambling. If you want your gambling budget to last as long as your night, figure out how much you can afford to lose every hour. For example, if you’ve got a $100 gambling budget and you’ll be playing for five hours, break that $100 into five $20 bills. Take the first Jackson and don’t cash the second until at least one hour has passed, even if you lost the first $20 in 10 minutes. Budget $20 per hour and you’ll still be in action as the night winds down. Don’t let your money management system entail playing until you lose everything you have.
3. Set a win goal and stick to it. OK, back to that original $100. If, after all is said and done, you’d be very happy doubling your money (good luck!), use that as a goal. As soon as you hit it, quit! Even if you hit it in the first 10 minutes, put the extra $100 in your pocket. You can walk home a winner and tell everybody on the floor tomorrow you beat the casino. Try to be even more realistic; quit when you win $50. You’ve still gotten the best of it. Take that home and brag to your colleagues in the morning that you beat the house.
4. Don’t gamble more than you can afford. We’ve all seen this one before: the players who tap the ATM when they go through their original bankroll. Or they bum an extra couple of hundred (thousand?) from their spouse to continue their losing streak. Or even worse, ask for yet another marker when you want to scream at them to stop chasing their loses. Remember, gambling is entertainment and remains entertainment as long as you use the money you can afford to lose and have fun doing it. Once you start to dig into the rent money or the grocery money, you’re playing with fire.
5. Know your game. Sure, everyone can get lucky. There are lottery players who scoop up jackpots in the tens of millions of dollars. Someone’s got to win it, why shouldn’t it be you? That’s the flawed logic most people use. This, despite the astronomical odds against winning, included with extremely low payouts associated with all lotteries.
There are plenty of casino games that have almost as bad odds. Keno, bingo, slot machines, “bonus bets,” and even roulette, baccarat and craps are games that in most instances should be avoided. Blackjack, video poker, race and sports betting and poker are the only games where the player can actually achieve an edge over the casino in special circumstances. If you choose one of the other games that are fun to play but have an intrinsic house edge, understand how the house edge works against you and evaluate if you’re ready to battle that edge (or you simply feel lucky!). It’s not a sin to buck the house edge, but it takes skill, and most of all, luck.
Remember, gambling is fun. When it becomes stressful, it’s time to quit.
