Secret Keys That Will Chasing Your Losses Can Actually Help You Win Tons of Money
Losing can be a very tough pill to swallow, especially when it comes to gambling. So many people think that if they keep chasing their losses, they will eventually come out ahead. Unfortunately, this is not how things work. In fact, chasing your losses can actually lead to even bigger losses in the long run. However, there are a few secret keys that can help you chase your losses and still come out ahead. We chatted with professional gamblers from powderrooms.co.uk and others from across the globe to find out what those secrets are. Let’s take a look at them here.
The Capped Martingale Betting System
Let’s begin with the most rational way to chase your losses: the capped Martingale Betting System. This system is essentially a hedge that involves doubling up your bet each time you lose, but with an upper limit or ‘cap’ on how much money one should spend in total on all bets. The idea behind this system is that if you continue to double and lose a series of bets, eventually, you will win one. This allows you to recover your losses and the original bet. It is not a guaranteed system; however, it is certainly one of the better ones out there in terms of minimizing financial damage and still allowing for the possibility of gaining profits from chasing losses. What can be most important to remember when using the capped Martingale Betting System is that you should set an upper limit on how much money you are willing to spend in total. This means that if your losing streak continues, it will eventually be cut off as you will have reached your established cap.
Playing With the Real Edge
The key to successful gambling is to play with the real edge. This means playing games where you have a statistically better chance of winning than losing and taking advantage of available promotions and bonuses to increase your chances of success. Casinos often provide players with incentives such as free bets or deposit bonuses, so be sure to take advantage of these when offered. Additionally, playing games such as blackjack or baccarat, where the house edge is lower, can increase your chances of winning.
The Kelly Criterion Method
Unless you have such an unlimited amount of bankroll that you can afford to lose, then another option is the Kelly Criterion Method. This method is all about finding and exploiting mispriced bets to maximize your returns over time. The Kelly Criterion suggests that when placing a bet, one should wager a fraction of their bankroll equal to their edge divided by the odds offered. This means that you should only take bets with a positive expected value. Otherwise, it’s not worth risking your money.
Chasing losses can be a tricky situation to navigate, and it is a must for any gambler to understand the risks associated with it. However, some methods, such as the capped Martingale Betting System and the Kelly Criterion Method, can help you minimize losses and even turn them into profits. By following these strategies, you can successfully chase your losses while still coming out on top.