Odds Are - You Lose!

Ask any experienced gambler if they are skilled at the games they play and the bets they make, and nine times out of ten, the answer will be a resounding Yes. With the exception of card counters, who can manipulate the house odds and sway the advantages in their favor, experienced gambles often have the misconception that they possess a special quality that will allow them to overcome the house odds and therefore be a winner most, if not every time. Take a quick look at this website to see the house odds per game (www.insidervlv.com/casinoodds.html) and it is clear to see that though basic skill is needed when partaking in traditional table games, luck is the main factor in determining success at a casino.

Though casinos are the proverbially playgrounds for adults, offering thrills and excitement not found in other venues, their main revenue source is gaming wagers. Casinos remain a business, offering a wide array of attractive services and amenities, with two goals in mind, taking as much money from their patrons as possible, while at the same time, maintaining repeat customers. Gamblers often hype up their big wins, while at the same time downplaying, if not completely putting their past losses in the background. This habit creates the fake reality that the gambler has the ability to overcome the house odds, which keeps the allure of the casino bright and the reality of the win/losses blurry. By over estimating their good fortune, gamblers are drawn back to the casinos with the expectation of winning big in the short-term, often forgetting that they are doomed to lose over time. Remember, casinos are a business, a big one at that, and though they have struggled of late, if they were handing out money as easily as some think, then the industry would have no sustainability.

Losses are unavoidable as luck comes and goes like the wind, however, there are ways that smart gamblers can limit losses in hopes of maximizing their winnings going forward. Outlined below are some general tips that I feel are most important to remember when gambling in order to have a good time and manage your bank roll. For a more complete list I suggest checking out this site (http://www.ildado.com/gambling_do.html)

1. Start with the minimum/low bet. If you have good luck it is always easier to increase your bet going forward. If you start high and have bad luck, your bank roll is often depleted before you have a chance to hit a hot streak.

2. Don’t be greedy and have fun: Remember, the house edge will take over at some time and though luck may be on your side now, eventually the casino’s odds will come into play and before you know it, big winnings could quickly diminish

3. Never bet more than you can afford and set a limit: This one is self explanatory. If you don’t have the money to bet big, then don’t, and if you have financial obligations outside of your casino trip (rent, mortgage, car payments), then limit your losses so that both you and your bank account are better off.

4. Don’t be afraid to bet: If you are afraid to bet then you obviously have a better use for the money in your hand and a casino is not the right place for you.

Remember, gambling is not a get rich quick scheme, but a hobby, like any other, with making money being a very real possibility. The house does maintain its small edge on every game, and though lady luck may be your ally one day, she is as fickle as the wind. Approach the tables with knowledge, have a strategy, and remember, win or lose, play with your head and do not let your emotions control you.

For additional tips and resources try the following links.
http://www.gambleversity.com/
http://americancasinoguide.com/Tips/gaming_tips.shtml