Casinos are not in
business to give away money! They sure want you to think
that, and will advertise their huge jackpots and show
the happy winners, but in reality the majority of
players lose the majority of the time they play.
Here are some common beliefs about casino games and
some tips on how NOT to fall for the
traps
Slot
machines
Higher-limit slot machines offer better
odds.
In major casinos, the quarter slots
typically return about 91% of the money bet. Dollar
slots, 94% to 95%... and the $5 slots, upwards of 95%.
But in this case, the better odds are not your best bet.
The 91% average return on the quarter slots means that
over time, you'll lose an average of 2.25 cents per
play, assuming that you risk just one coin at a time.
The 94% to 95% return on the dollar slots translates
into an average loss of five to six cents every time you
insert a coin, so you'll lose your money more than twice
as fast. And with $5 slots, you'll lose an average of at
least 25 cents per play -- more than 10 times as fast as
with the quarter machines.
The facts are that
statistically, you stand to win most at the
highest-limit machines, but unless you have lots of
money that you can afford to lose, the only time it's
wise to move up to the dollar slots is if you have been
playing the quarter slots three quarters at a time. At
an average loss of between six and seven cents per pull,
you would be better off switching to the dollar machines
-- assuming that you restrict yourself to a single
dollar coin per
play.
Warning: The
worst slot odds are on "progressive" or "linked"
machines that offer escalating jackpots, up to six
figures or higher. These machines typically return only
85% of the money bet.
A losing slot machine can
be due to win.
Some slot
players continue to pour money into slot machines that
haven't been winning on the theory that the machines are
"due" to hit. Conversely, players who have won money on
a machine sometimes continue to play, thinking that the
machine is "hot." Still others believe that when all the
symbols for a big jackpot appear in view, but not in
line, the machine is close to a major payout.
What
a slot machine has done on past spins has absolutely no
bearing on what it does on future spins. Each spin is
independent and random.
Single deck Blackjack has the
best odds
Casinos want you
to think single-deck blackjack gives gamblers a fighting
chance against the casino. At a typical casino blackjack
table, six or eight decks of cards are shuffled
together. But now many casinos also offer single-deck
blackjack, where only one deck is in play at any given
time. With just 52 cards to account for, it seems easier
for gamblers to calculate their best strategies.
The
casino has structured the single-deck game so that it's
harder than ever to beat the house. At a normal
blackjack table, the casino pays three to two when you
get blackjack -- $15 on a $10 bet. At single-deck
tables, the payout is only six to five, or $12 on a $10
bet. That lower payout means that over time, even if you
are able to win a few more hands because you have kept
track of the cards that have been played, you can expect
to lose your money nearly three times as fast as you
would at a multi-deck
table.
Blackjack card trends or streaks are
good bets
Gamblers like to
search for trends, even where none exist. They'll bet
more at the craps table when the dice are running "hot"
or bet a number that has hit a few times on the roulette
wheel, though a modern wheel in a major casino is
extremely unlikely to be biased.
In
general, betting the trend in the casino is no worse
than any other bet, but blackjack is an "anti-trend"
game. Example: When a lot of small cards have been
dealt, there are fewer small cards left to be played,
making it smarter to assume that the trend will reverse.
At the blackjack table, betting
the trend is a costly mistake.
An average player can win at Texas
Holdem tables with luck
If I can win in
poker games with my friends, I can win in the casino or
online. In casinos and at online gambling sites, you're
not just playing against the other players at the table
-- you're also playing against the "rake," the house's
cut of anywhere from 2% to 20% of winning pots. And
unlike in home games, you're not playing against people
you know, so you can't expect to read your opponents.
Online, you might even be up against pro gamblers using
computer programs and teamwork to up their odds.
The best way to survive is to
play tighter than you would at a friendly home game,
folding most hands and risking your money only when your
opportunities are greatest, then betting agressively.
This is called the tight agressive style.
Comps are a way to "win" at the
casino.
After you sign up for a rewards card at a
casino, you might earn complimentary meals, show tickets
-- even hotel rooms. Many gamblers view these comps as a
way to recoup their losses at the gambling tables.
Casinos view them as a way to keep gamblers happy as
they lose money.
When you receive great comps, it
means that based on how you're betting, the casino
expects you to lose a large amount of
money.
