Casinos are designed to make money from their guests. The house edge will ensure in the long run that the house (casino) always wins! So this means that the longer you play the more likely you are to actually lose money.
The interesting thing is that it can go either way with gambling. There is not a precise outcome that is fixed.
There are casinos that sometimes lose money in the short term because there are gamblers who win (a lot of) money. But the common thread is that players leave behind more money in total than they brought to the casino.
So the biggest challenge for a player is to have the right timing to leave the casino with a profit. The casino does not know in advance what the outcome of a casino game you are playing will be. You can lose or win and there is little they can do about it.
What you can do as a player is to increase your chances of winning. In this article we will give you some tools to better understand this phenomenon.
A mistake many gamblers make is to bet higher than the minimum bet. And this applies to both slots and table games. The higher your bet the faster you lose money. If there is no extra chance of winning with a high bet, there is no extra reason to bet more than the minimum bet.
In most cases, the house edge remains the same no matter how high you bet. You are just as likely to double your bet at Blackjack with €5 bet or €50 bet. It’s fooling yourself to say you can make more money with higher stakes. The truth is that you will run out of money faster.
A casino also prefers that you just have a good time so you come back next time. The reason why there is a table (betting) maximum is so that the casino can pay out players if they bet high. The Binions Horseshoe casino in Downtown Las Vegas did not have this maximum rule in the past and so each player could bet whatever he or she wanted.
PLAY WITH BONUS MONEY
In casinos, you can sometimes play with bonus money such as match & play vouchers. Most casinos in Las Vegas do have coupon books giving you an advantage over the casino. In Las Vegas, we regularly do a coupon tour. And that’s a day where we always make a profit because we have so many coupons. So are additional opportunities to get free gambling money through MyVegas and many other apps.
In online gambling, a player can totally indulge in deposit bonuses and other bonuses. And with low bets and conservative play, you can grab an advantage over time.
WIN BACK LOST MONEY
Many players think that a bad run should be followed by a good run. And this is what is anticipated. Most systems assume this as well, which causes you to have to bet more to win back your lost money. In reality, you just lose your money more and faster.
The martingale system is a famous example of this. With low bets you have a greater chance of winning your money back than if you bet higher. And this has to do with the fact that you are likely to run out of money before luck is on your side.
We understand better than anyone that sometimes a bigger bet is fun to place and you want to milk the good run. You could then agree with yourself to bet a maximum of 5% of your bankroll at a time. Say you start with €200 then you bet €10 a time and when your bankroll is at €100 then only €5. But when you are at €400 you can bet €20. Do make good arrangements with yourself up to where you play and set your limits.
KNOWLEDGE OF THE PAYOUT PERCENTAGE
Players generally have no idea about the payout percentage of many casino games. They often say you should play Punto Banco or Blackjack because the house edge there is a lot lower than, say, slots.
They’re right, but you have to know exactly how to play the game. If you make bad decisions at the blackjack table, the house edge goes up quickly. Play the games you like and see if similar casino games have better payout percentages.
PLAY RELAXED AND KEEP AN EYE ON THE TIME
Casinos will do everything they can to keep you in the casino longer so you don’t win at the casino. They take good care of you with drinks, snacks and distractions. Don’t fall into this trap and make sure you are fresh while playing. And know what time it is and take regular breaks.
Falling in love with one slot machine is not a helpful move and walking away to take a break. And trying something else is better.
MAKE SURE YOU HAVE SMALL BILLS IN YOUR WALLET
A useful tip is that you can have small denominations of banknotes or casino vouchers with you during a casino visit. If you put a $20 bill in a slot machine or at the roulette table you can easily accept that loss than if you only have $100 bills.
When you turn in your chips and/or casino vouchers at the cash register, it is also convenient to ask for small denominations for these. And when you walk back into the room, we all know what it’s like to have one more gamble. And with a large bill, you really don’t want to do that at all.
Remember that the casino always wins and you can’t make a career out of gambling, gambling is not a money maker and certainly not a way to earn an extra income. Should you think this then one piece of advice is best.
Stop visiting casinos and/or get yourself deregistered. Gambling may be seen as entertainment and if you are willing to pay money for this then that is a choice we take ourselves.