Know When to Quit
The casinos love to quote the old adage, “A winner never quits and a quitter never wins,” but the opposite is true when it comes to gambling. My wife and I have a standing rule: we play only what we intended to play before we arrived (see #2), and, if at any time, we reach double the amount we came in with (or greater), we cash out and leave. Just as small losses add up quickly, so do small wins. We go to the casino to eat about once every two months or so, and when we go, we usually bring a little extra cash (often $5 or $10) to play in the machines. In general, we lose or break even, but we have won (and walked out) often enough that, over the course of three years, we’re up by about $25.
Watch the Clock
There’s a reason that few casinos have clocks or windows. Compensate for this by wearing a watch or carrying a timepiece and referring to it often. At any point, you should know exactly how long you have been sitting at the table or the machine. If you’ve been at the same location for more than 15 minutes and you haven’t at least broken even, it’s time to cut your loses and go. Sometimes, in addition to limiting the amount of money I bring with me, I also set my watch alarm to 30 minutes or so. When the alarm goes off, regardless of whether I’m up or down, I leave.
Don’t Drink
Alcohol dulls the senses and impairs judgment; that’s why they keep offering you those free drinks. Fortunately, combating this tactic is as easy as saying, “No thanks.” Of course, the waitress will keep tempting you. After all, her job is to keep you there at the table or in front of the machine. If you need an excuse, you can always claim to be the designated driver and they will usually leave you alone. Just remember, they can’t force you to accept the alcohol.
Hidden Costs
Many slot machines today offer varying levels of payout with the number of coins played. Of particular importance to note are linked machines that are placed in different casinos across the country, and tied to a central mega-jackpot. Often, in order to win the big money, you must play the maximum number of coins playable. I have been witness to two occasions in which someone got the winning combination (and won a small jackpot), but was “cheated out of” the big money because they did not play the maximum number of coins. By law, this information must be made clear on the face of the machine, but casinos are good at hiding it amongst the colorful designs and other eye-candy.
Cash Outs
Cashiers in casinos have been trained (or machines, where they replace humans, have been programmed) to provide you with the largest possible denominations of bills when giving cash outs. This is because they know that you have to pass through the maze to get back out, and you might be tempted by the lure of a particular machine. You sit down to play just “one more dollar,” only to discover that the smallest bill you have is a five…