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Casino strategies: 1.Get real. The casinos have the advantage in their favor. Let's not forget that this is a business and the aim to make money not lose it. If you lose, don't be surprised.
Casino strategies: 2.Don't rely completely on tips or hunches. Always make logical decions afer weighing the odds of games.
I always meet other players who don't agree and will never concede on this point, and they are all wrong. For the players there is the rabbit's foot and telepathy. The casinos have the mathematical and statistical odds on their side. Who do you think wins in the long run?
Casino strategies: 3.Although you will lose in the long run. Your money will go up and down like a rubber ball in the short term. The trick is to play for short periods.
The rare exception to this is that very good blackjack and poker card counters and video poker players can gain a long term
advantage, but these are skilled players. Poker and sports betting may also be beat but I do not consider these the same as "casino" gambling because they are not played against the casino or house, but rather against other players.
Casino strategies: 4.It goes without saying that the harder a game is to win, the smaller the house advantage is if you play it properly.
Your best bets are the more complicated games of blackjack, craps, baccarat, and video poker, assuming you play them smartly. Your worst bets are the simple games of pure luck like keno, roulette, the wheel of fortune, lotteries and slots.
Casino strategies: 5.Don't bet money you can't afford to lose. Set a limit on your losses for both a table sitting and the duration of your stay. This is often called the plateau.
In other words use good money management.
Casino strategies: 6.Don't hedge your bets.
Avoid the urge to insure against events that will cause you to lose or push rather than win. The insurance bet in blackjack is a
classic, with an average house advantage of around 6% (1 deck) to around 7.5% (8 decks). Another example is the craps
bet with a house advantage of around 11%, which some craps players use to insure a pass line or come bet. I realize that in the real day-to-day world decision making is decided by both maximizing return and minimizing risk, and I have no problem with that. However in most cases it makes good sense not to insure risks that are unnecessary. yourself. In the case of gambling the high cost of insurance starts adding up quickly. To maximize long term return the best strategy is to take your chances with the bets with the lowest house advantage. This is just commonsense. It is not rocket science. The long term cost of hedging your
bets will be much more than the benefit they provide. Therefore, these bets are not cost effective. If you are still afraid of risks
then I would suggest taking your money to the change machine where you will have no risk at all and change four quarters for a
Casino strategies: 7.There is absolutely no system that can beat a game of pure chance. Just accept this as gospel from very experienced statistical experts.
There are plenty of quacks promising systems that can beat games of luck like roulette, craps, and even the lottery. Most
systems trade a lot of small wins for a few huge losses. In the long run it is impossible to beat the house at games of pure luck
only because of the built in house advantage and statistical probabilities. It's also called the law of probabilites or averages.
Casino strategies: 8.It pays to do your homework for the best possible playing conditions.
In many games, especially blackjack and video poker, rules can vary from casino to casino and one state to another. Know what rules are favorable to players and go to places that will give you better odds. Doesn't that sound logical?
Casino strategies: 9.Avoid the side bets and gimmicks.
Good examples of side bets to ignore are those in Caribbean stud poker and Let it ride. Yes, I know everyone else makes these bets, but statistically speaking, the house advantage is huge. I've seen a lot of different side bets in blackjack and most of them have had a house advantage, much higher than blackjack itself. Gimmicks, like crapsless craps and commission free baccarat, have a higher house advantage than normal rules in every example I have analyzed. If and when the casinos offer a change in a rule to your advantage you can be sure they changed another rule that is to their advantage, and that they are taking more than they are paying out.
Casino strategies: 10.Have fun it's only a game. Right?
Don't forget that gambling is supposed to be a fun and enjoyable past-time. Like many things, what is enjoyable in moderation can be problematic when overdone. If you lose the ability to walk away from the table or machine when you want to, then you shouldn't play. Know when you've had enough.
One of the biggest myths about gambling is that games of luck can be won easily by methods of varying bet size to manipulate the odds. Depending on how the system works in the long run you will either sacrifice a few large losses for many small wins or many small losses for a few big wins. In the long run you can't help but lose at games of pure luck. Regardless of what form of betting system you use, the ratio of money lost to money wagered will always approach the same the more you play. This is known in mathematics as the 'Law of Averages.' Betting systems are just mathematical gimmicks that will never survive the
test of time. If you don't believe me read what the Encyclopedia Britannica says under the topic of gambling:
"A common gamblers' fallacy called 'the doctrine of the maturity of the chances' (or 'Monte Carlo fallacy') falsely assumes that each play in a game of chance is not independent of the others and that a series of outcomes of one sort should be balanced in the short run by other possibilities. A number of 'systems' have been invented by gamblers based largely on this fallacy; casino operators are happy to encourage the use of such systems and to exploit any gambler's neglect of the strict rules of probability and independent plays."
Probability and Measure (second edition) by Patrick Billingsley illustrates that betting systems do not win in the long run. On page 94 he comments, "There are schemes that go beyond selection systems and tell the gambler not only whether to bet but how much. Gamblers frequently contrive or adopt such schemes in the confident expectation that they can, by pure force of arithmetic, counter the most adverse workings of chance." After going through the proof he summarizes on page 95, "Thus no
betting system can convert a subfair game into a profitable enterprise."
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