A lofty expectation is the killer of joy, goes a saying. Having realistic expectations when gambling is crucial to avoiding breakdowns when you inevitably lose some money. However, how do you set realistic expectations about BTC gambling as an online casino user?
Every bettor should know that every game available at an online casino is a game of chance. While some can be mastered, mastering them only gives you a slight edge in the long run. Some external factors will always play a role in determining if you stand a chance to win.
In this post, you’ll learn how to be realistic about your expectations. Also, you’ll see what influences the results of a bet to understand why you win or lose.
How to Be Realistic about Your BTC Gambing Expectations
Expecting to win the jackpot each time you play will leave you disappointed more often than not. Learning how much you can earn on average by gambling with Bitcoin would be a more realistic outlook. Here are a few tips that should guide your expectations when wagering.
Understand the impact of luck
There are two kinds of bettors: those who overestimate the impact of luck and those who underestimate it. Betting is a game of chance, and you must understand how that works to set realistic expectations. Luck impacts different games in different ways, remaining a crucial factor in how games are won and lost.
When placing a bet, you’re predicting the possibility of a random event. In sports markets, for instance, you can make solid predictions based on a team’s recent history. However, there’s still a big chance that your prediction may be off thanks to unforeseeable events during the game.
A player might come off injured, or there could be a suspension; there are many possibilities. The impact of luck extends to games that aren’t based purely on chance, like poker, for example.
Your level of success in poker depends on how good you are with cards. However, your skills can only do so much if you get dealt the worst possible set of cards, for a start.
Before expecting anything unrealistic when gambling, you should remember there are factors you cannot control. Understanding how those factors could make you win or lose bets is essential to setting realistic expectations when punting.
Get used to losing
Losing is never exciting, but having realistic expectations means you’ll need to get used to it. Expecting to lose when wagering is not pessimism, but it’s the reality. Isn’t that what setting realistic expectations means in the first place?
Getting used to losing isn’t only accepting that you’ll lose frequently; it also has to do with persevering after a loss. Some people increase their unit size to recoup their losses, while others reduce their bets. Neither is advisable, as they’ll impact you negatively in the long run.
You should adopt the flat strategy for a healthy punting habit. Flat gambling involves staking the same amount, whether you win or lose. Your capital should be a portion of your income you can afford to lose, as there’s a chance you’d lose.
Understand the house’s edge
gambling sites must make money to stay open, which is why they have an advantage in all games. In short, gambling sites keep around a fraction of every dollar customers use in placing bets. In practical terms, bettors already have a handicap to beat from the get-go.
No thanks to the house edge, if you had an unlimited stream of income that you used to bet indefinitely, you’d lose. So, the reason why you have a possibility of winning is that someone is losing somewhere. Setting realistic expectations involves understanding that “someone” could be you.
Know what you want
People have different motivations for betting, which should shape their expectations of the game. While some bettors only bet for entertainment as they follow their favorite teams, some expect serious profits. Before getting emotionally invested in a bet, you should evaluate where you stand.
If you’re shooting for profits, it’s best to only keep to the high percentage games that won’t win you a jackpot. Mathematically, you’re more likely to win more often, which is the primary goal of someone wagering for profits. However, the casual bettor can do with a low-percentage parlay card that’ll translate to a high-profit margin if they win.
While a professional punter can expect to win more often, expecting a win when you buy a lottery ticket is unreasonable. Understanding how these percentages come together to show your winning probabilities is essential to help manage your expectations.
Acknowledge the existence of BTC casino scams
Bitcoin comes with extra convenience and whatnot, but it also comes with risks. Since Bitcoin payments are more private than traditional payment methods, online casino scams are more likely to use them. In short, you should have your doubts about all crypto gambling sites and subject them to testing before trusting them.
Benefits of Realistic Expectations when Gambling
With all you’ve read, you’ll notice setting realistic expectations is almost as much work as placing a bet. If you’ll be spending that much time on an activity, it should be beneficial. Here are some of the benefits of having realistic expectations about crypto betting.
It helps you enjoy the game
When your expectations are too lofty, you pay too much attention to winning or losing, and you don’t enjoy the game. While winning is important, you should also understand that the entertainment factor is one of the goals of crypto gambling sites. Being overly fixated on winnings and losses reduces the entertainment aspects to the bare minimum.
Prevents misinterpreting your results
When some punters lose some bets, they tend to put a lot of pressure on themselves. They think they lost because of their poor sense of judgment, an untrue thought that could cause worse issues. However, you’ll stop punishing yourself when you understand how luck impacts games and set your expectations around that.
When you bet at online crypto gambling sites, make sure you have the right goals in mind. Setting realistic expectations requires you to account for many factors, most of which you can see above. Expecting a realistic outcome for your bets will help you appreciate the entertaining nature of the game, among other benefits.