Mindset And Approach To Casino Offers
Reading Time: 6 minutes
Having the right mindset is crucial to profiting from casino offers.
The right mindset allows you to remove the emotion from offers. You can complete more offers, avoid the temptation to gamble, and in the long run, make more money!
To have the right mindset, you should first consider this question:
Why do you get annoyed by a losing day or losing week, but not get annoyed by losing your first spin of the day?
The answer is all about your expectations.
You don’t expect to win your first spin of the day, but you do expect to have a winning day or a winning week.
But, winning every day isn’t realistic.
So, you should change your expectations to reflect the true nature of low risk casino offers. Otherwise, you’ll spend a lot of time frustrated, which isn’t good for you!
Below are some key ways to set the right expectations.
1 – Focus Only On EV
The temptation is to focus on the profit or loss that you make.
If you made £25 profit in a day, then you might consider that a successful day. Whereas if you lost £25, you’d probably consider that a bad day.
But, this is the wrong way to look at it.
Casino offers are subject to variance. The result we achieve from each offer varies.
We shouldn’t worry about how much we make from a single offer, or in a single day, week etc.
Instead, we should focus on how much money we can make in the long term.
Over time, variance becomes less of a factor, and our profits should track our EV.
We should be focusing on the EV of the offers that we complete. This tells us the value of the offers that we complete, and over time how much profit we should make.
2 – Set Long Term Goals
A good way to focus less on your daily results is to set yourself long term EV goals.
Maybe you want to make £20 profit per day.
If you set yourself that target, some days you won’t achieve it and will get frustrated.
Instead, set yourself a goal like making £2,000 EV over the next 3 months. That works out at roughly £22 per day.
Your daily profit will vary, but that won’t matter, because you are focused on your long term goal. And in the long term your EV and profit should track closely.
At the end of the 3 months, you’ll be able to look back at your results. Your daily results will have varied lots. But, on average, you will hopefully see that your average daily profit was close to your target.
3 – Losing Money Is Normal
Casino offers are subject to variance. Making a loss on some offers is unavoidable.
You could make a loss on a few offers in a row. This can be frustrating.
But, never forget that you are doing offers that are +EV.
Over the long run, over lots of offers, you will make a profit.
If you let losses upset you, you could be tempted to gamble, or you might want to give up casino offers altogether.
Both would be a massive shame.
As long as you are following our money management guide, making losses on some offers is completely normal.
That’s why we have a bankroll, to ensure that we can always withstand any losses, and keep completing offers to achieve long term success.
4 – Trust The RTP
When you meet someone for the first time: “Within 50 milliseconds of seeing [their] face, you unconsciously make decisions that will influence your interactions”.
It is human nature that we make first impressions about something new. These first impressions are hard to overcome.
Often we hear things like:
- “blackjack doesn’t work for me”
- “that slot is rubbish so I never use it”
- “I always use this slot because it always pays out well”
Usually, someone has used a game for a short time, and formed an opinion based upon their initial results.
Lets say you wager £10 on a slot with 90% RTP and £10 on a slot with 98% RTP. You make a £5 profit on the 90% RTP slot, and a £5 loss on the 98% RTP slot.
Based on this, the 90% slot becomes a slot you like, and the 98% slot becomes one you avoid.
You have based your approach on a tiny sample of spins, which are subject to a lot of variance.
If you use games with lower RTPs then you are reducing your EV. So, in the long run, you will make less profit. Instead, you need to make decisions based upon RTP, which is the long run return from using the game.
The best option, when available, is blackjack. It has a 99.5% RTP, and is relatively low variance.
Roulette is also quite low variance, but it has a 97.3% RTP, so there can be higher RTP options available.
There are some slots which should become your go-to choices based upon their RTP and variance. For example, 1429 Uncharted Seas (98.6% RTP), Bloodsuckers (98% RTP) and Golden Tour (97.7%).
“Its just not my day”
Sometimes people lose money on one or two offers and decide that ‘its not their day’.
They might not do anymore casino offers that day, or maybe write off casino offers completely.
If you start becoming emotional about a loss, and might be tempted to gamble, then stop and walk away.
But, we should remove the emotion from low risk casino offers. Focus on making as much EV as you can.
By doing less offers, you are missing out on EV, and thus long term profits.
So don’t let your day be ruined by one or two bad offers. Stay focused on the long term goal!