Tips for Wagering Competitions

A large number of promotions hosted by online casinos are wagering competitions. The amount players wager over a specified period is recorded and the players who wager the most get a share of the prize pool. Naturally even newbie are tempted to participate in such events. But they should be aware of the harsh realities before they do so. There is no amount of wagering that can guarantee them a place in the prize pool. They may wager $5000 and the prize pool may close at $5010. This does not mean that new players should not participate in such wagering competitions. They should understand the characteristics of such competitions and participate with caution.

All players join online casinos for the purpose of wagering. Whether they wager on games that are not a part of any promotion or they wager on games that are a part of wagering competitions should not matter, subject to certain conditions. It is important that players understand what these conditions are. Players should enter a wagering session with a fixed bankroll in mind. That bankroll should be such that it does not push them into a problem gambling situation. Most wagering competitions prescribe that players must wager a minimum amount in order to be eligible for the prizes. Say for example this minimum amount has been prescribed at $500 for a wagering competition. If no participating player wagers at least $500 then in that competition the prize pool will not be disbursed. This is a fair condition, the objective of which is to prevent the disbursement of large prize pools in competitions that have not attracted sufficient wagering. So the first tip for the beginner is that he must enter only if the minimum amount required is less than his decided bankroll. Players who do not check this out up front may wager away their bankroll and then find out that they have not even wagered the qualifying amount. This tempts them to wager additional amounts and pushes them into trouble.

The second tip is that players should wager the amount that they had set aside for the promotion period and then stop wagering. If this is not good enough to get them any prize money there is nothing lost. They can treat this session as wagering at the online casino without participating in any competition. They should not look at the leader board and be tempted to wager additional amounts in order to break into the prize pool. If they win a share of the prize pool then it is a bonus.

Players must enter only those wagering competitions that offer online casino games that are to the player’s liking. If the player has decided that he will wager only on blackjack and video poker games because they offer more favorable house edges then he must not enter slots wagering competitions. It is true that most of the wagering competitions will be slots wagering competitions. However wagering competitions in blackjack and video poker are offered and either the player may have to wait a while before his online casino offers such a competition or he may have to hunt around for an online casino that offers one. If the player has decided that he will wager on slot games despite the higher house edges because he enjoys these games much more, then there is no problem in his participating in wagering competitions based on slot games. However, he should look for competitions that offer the slot games that he enjoys so that the participation does not become a burden on him.

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Comment by: Dayna Peters On: March 23, 2010
Good tip for those of you looking to play in such competitions.

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