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Tips on casino games to avoid

Casino slot machines, two women talking
You can often learn as much from examining bad advice as you can get from good advice. With any luck, what I have done with this post is to provide seven examples of VERY bad advice and replace it with good advice.

Many times, just doing the opposite of what bad advice suggests to prevent disaster. At other times, bad advice may be appropriate in some circumstances. And sometimes, bad advice doesn’t count much in one way or another.

In any case, you should know the difference. Here are seven examples of the worst real money gambling tips I’ve ever heard.

1 – Get expert advice on who to bet on

Most of the time, the person who pushes you to get expert advice on who to bet on is the one who sells that advice. In the betting world, someone who sells this type of advice is called a “tout”. A company that provides more experts is a “tout service”.

These services prefer to be called “handicappers” or “expert handicappers”, but a good deal of skepticism would be wise when it comes to these companies.

Most of them have websites that offer free choices. These are usually worth what you pay for them. But the idea of ​​getting hooked on their free choices is to generate interest in their paid choices. Here’s how they take you.

Let’s take a look at some of the calculations behind sports betting.

Suppose you are an average sports bettor who regularly bets $ 100 per game. You have to risk $ 110 to win $ 100, and that’s how the bookmaker makes money. Just to reach the tie, you have to win more than 52% of the time.

And the lines are set up in such a way that the probability of winning is 50%. So, decide to find an expert to make your betting decisions for you. Find a guy who offers a solid choice for Thursday night’s NFL game for just $ 25.

You will be out of the $ 25, no matter what happens, you win or lose.

Suppose the tout flipped a coin to choose a team. (This is probably a scenario, by the way.) 50% of the time, you will lose $ 135, which includes the $ 110 you wagered on the game and the $ 25 you spent on choosing. The other 50% of the time, you will win $ 75, or $ 100 less than the choice of $ 25.

What does this mean for the house advantage? $ 110- $ 75 is the equivalent of a loss of $ 35 or $ 17.50 per bet. What if the tout had chosen the winners 60% of the time? 60% of the time, you win $ 75 and 40% of the time, you lose $ 135. They are $ 45 in positive expectation and $ 54 in negative expectation.

In other words, if you are only wagering $ 100, that choice of $ 25 doesn’t make you break even if the handicap is right 60% of the time, which is almost impossible. Even the insiders admit that 55% is probably the best that can be expected from an exceptional handicapper.

If you’re betting $ 1000 on the game, it might make more sense to pay $ 25 for a choice. But even then, you are seeing a potential win of $ 975 and a potential loss of $ 1,125.

If your handicapper is right 60% of the time, this is $ 585 in positive expected value. You also have $ 450 in negative expected value, so now you have a profitable choice. You should note two things about it: you will be right 50% of the time even if you choose randomly.

And even if the tout is really good at his job, you still have to bet much more than the cost of the choice to make even the best choices profitable.

2 – The house always wins, so don’t play

Contrary to popular belief, the house does not always win. Sometimes you win. In fact, around 20% of people who visit a casino on a given day go home to the casino with their winnings in their pocket.

This does not mean that it SHOULD play, but it also does not mean that you should refrain from playing. It means that the decision is more complicated than that.

No, you probably won’t win in the long run, but you could. If you win a massive $ 10 million progressive jackpot, you may presumably be able to play at low odds for the rest of your life and show a net profit for your casino gaming career.

Slot machine casino plan

It is not likely, to say the least. But what about gambling as entertainment spending? Is it okay to gamble knowing that you will likely lose in the long run as long as you enjoy doing it? Obviously it is.

The trick is to decide if you are really having so much fun while playing. My dad could have put $ 2 in the slot machines the whole time we were in Reno together. (We stayed there for four nights.)

Gambling in a casino didn’t seem fun to him, but I definitely enjoyed it. I came home victorious on that trip too! I won around $ 50 net.

3 – Double the size of your next bet to regain your losses

This is only the Martingale system, which does not work in the long run. The idea is that every time you lose, you double the size of the previous bet. In the end, you have to win and when you do, you will win back all your previous losses with a small profit.

I have seen some “gambling experts” say that it is possible to “fix” a lot of small wins in this way. But in the end you will run into a situation where you lose so many times in a row that your bankroll will be devastated and you will not be able to afford the next bet. Or you will run into a situation where the next bet in the progression will be so big that the house won’t let you do because of their betting limits.

Suppose you start with $ 5 and go on a losing streak in roulette. Most roulette tables with a minimum bet of $ 5 also have a maximum bet of $ 500, which means that you will have to bet the maximum when you have a certain number of losses in a row.

Most people underestimate how many losses will be:

  1. $ 5
  2. $ 10
  3. $ 20
  4. $ 40
  5. $ 80
  6. $ 160
  7. $ 320
  8. $ 640

If you lose seven times in a row with roulette money, you cannot make the next bet because the casino has bet limits in place.

You might think that seven losses in a row are almost impossible at the roulette table, but it probably happens once a day in every casino.

4 – Set victory goals and stop-loss limits

This is not terrible advice if you don’t think it will magically make you a winning player. In the long run, short-term strategies such as victory goals and stop-loss limits will not change the fact that the house has a mathematical advantage over the player.

A winning goal is an amount you will win, which means it’s time to stop for that session. This would make you a winner … But only if you stop and never play again.

Stack of chips on the table, poker cards on the table

A stop-loss limit is the same thing, but it is an amount that you are willing to lose before leaving the session. It aims to limit how much money you will lose.

This would limit the amount you lose … But only if you stop and never play again.

The way the math behind gambling works, however, is that you are facing a lifetime game session that has been divided into shorter and arbitrary sessions. As for the gods of luck, it’s all a great session.

And the more you gamble, the closer the results get to the mathematically expected results.

5 – Play with house money whenever you can

Here’s the idea behind this advice: suppose you place a big bet, maybe $ 500, on the roulette wheel and win. You now have $ 1000. You decide to play with only the $ 500 you have just won and you will retain your original stake.

If you think this will make you profitable in the long run, think again.

Once you win that money, it’s no longer the house money. It’s your money. If you continue to gamble with it, you continue to give the casino house time to work with its magic.

It can be fun to “gamble with house money”. But it can be more fun to cash out your $ 500 in winnings and buy a good dinner or some show tickets with your profits.

6 – Practice makes perfect

Some casino games involve an element of skill, but most of them are pure possibility. Games with an element of skill, such as blackjack and video poker, also give the house a mathematical advantage over the player.

It doesn’t matter how much you train or how skillful you are. If you play long enough, the house edge will consume all your money.

Casino video poker machine

The only exception is if you find a real gambling technique and you get enough to constantly win over time.

For example, some card tokens are long-term profitable. And to get this profit, they need to practice and become proficient in both basic strategy and card counting.

Casinos don’t make it easy either. When they realize that you are counting cards, they usually run away from their blackjack games. Some will even ask you to leave the casino entirely.

7 – Find the “Loose” slot machines and play on them

More nonsense has been written about which slot machines are freer than others than anything I can imagine. The biggest and most popular myth is that casinos put the highest paid slot machines on the edge of the ranks to attract more players.

This myth stems from an interview with a slot machine manager in a casino decades ago. There is no guarantee that the interview actually took place and, even if it did, there is no guarantee that the slot manager was telling the truth.

Multiple recent interviews with casino managers and slot machine operators indicate that they DO NOT position their slot machines based on their “looseness” or “tightness”.

Defining those terms is also complicated.

A free slot machine should pay more, but a game with a high hit frequency can also have a lower payout percentage than a game with a low hit frequency.

What is the difference and how is it possible? The frequency of the hits refers to the frequency with which a rotation of the reels translates into a sort of prize, regardless of the size of that prize. For example, a slot machine with a success rate of 33% will result in a payout about a third of the time.

The repayment percentage, on the other hand, is a function of how much money the slot machine pays compared to what it receives. The deciding factor is not only the probability of winning, but also the size of those wins.

You can schedule a slot machine game to pay 1 for 1 odds 50% of the time, and if the rest of the prizes rarely arrive and are not large, the payback percentage can be really low.

Conclusion

You will receive many bad gambling tips. It doesn’t even matter what kind of game you play. I hope you learned a thing or two from the advice I have given against what can be commonly heard. What kind of bad advice did you get on gambling?

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