Casino Strategy

Casino Strategy

During the past 50 years, the name Las Vegas has become synonymous with gambling. Nine out of 10 visitors gamble while they’re in town. It is almost perverse to visit Las Vegas and not gamble. But while unreasonable expectations can lead to disappointment — or worse, as in the loss of a lot of money — the key to having a good time is to approach the casinos with the idea that, contrary to popular opinion, you can win or, at the very least, get much more than your money’s worth of playing time. Your success depends less on being lucky than on being familiar with the rules of the games, being aware of the concepts behind the games, and being conversant with the strategies that enable you to play not only with confidence but also with a fair shot at walking away a winner.

The House AdvantageThe first important concept to understand about gambling in Las Vegas is that the odds for all the games provide an advantage for the casino (“house”), generally known, appropriately enough, as the “house advantage” (or “edge” or “vigorish”). The casino is a business, and wagering is its product. Because the house establishes the rules, procedures, and payoffs on every game, it builds an automatic commission into every bet to ensure a profit margin.

Here’s how it works. Let’s pretend that I’m the house and you’re the customer and we’re betting on a series of coin flips. The deal that I make with you is that every time the coin lands heads up, I win and you pay me a dollar. Every time the coin lands tails up, you win — but I only pay you 90¢. The law of averages maintains that out of every hundred coin tosses, heads will win 50 times and tails will win the other 50. If I take a dime out of every one of your winning payoffs, the longer you play, the more dimes will wind up in my pocket. If you started with a $50 bankroll, after 1,000 tosses, even if you win half of them, you’d be busted out. (Because it requires two trials — win one, lose one — for the house to make its 10¢ “commission,” your “negative expectation,” or house edge, in this example is 5%.)

The second important gambling concept is known as “fluctuation” (or “variance”). In plain English, we’re talking about “luck.” Looking at our coin-toss game through the lens of averages, if you and I flip a coin 1,000 times, it’s reasonable to expect that the coin will land heads up and tails up close to 500 times each. However, if we flip the coin only 10 times, it’s conceivable that the coin could land heads up only twice or as many as eight times. Now let’s say that we made the same betting deal as above but we limited the number of tosses to 10. This would largely eliminate your 5% disadvantage and leave it up to “the luck of the toss” or, in other words, the fluctuation. Thus, a short-term fluctuation in the law of averages eliminates the long-term threat of the negative expectation.

How do these concepts — the house advantage and negative expectation, as well as short-term fluctuation — apply to the choices that you make as a casino customer? Your decisions, based on these concepts, will determine not only what you play, but also how you play, how long you play, and, ultimately, how well you play.

Luck Versus the EdgeThe average “gambling bankroll” (cash carried for the sole purpose of gambling) of a Las Vegas visitor who plans to spend some time in the casino is roughly $500. This is a crucial statistic. The amount of your bankroll and your preferred style of “action” (how you risk your bankroll) define your relationship to luck and the house edge.

Basically, the parameters of gambling action are fast and slow. Some people, though they’re in the minority, like their action fast and loose and high risk; these are true “gamblers,” in the old-fashioned sense of the word. The extreme version of this type of action is to take the whole $500 bankroll and lay it down on a single play — say, red or black on the roulette table. The odds are not quite even. The green 0 and 00 on the roulette table give the house an advantage of 5.26% (Roulette, below). Still, even though the odds are less than fair, the immediate result will be the same: double or nothing.

Making one play eliminates both the law of averages and the long-term threat of the house advantage; here you rely solely on the luck of the draw. If you want to go on a roller-coaster ride of luck, with a minute or so of adrenaline-pumping, heart-pounding excitement, lay it all down at once. In a matter of moments, you’ll either have twice the money you arrived with or none of it.

A less extreme version of this wild ride is to break your bankroll into two units and make two bets. Here you can either double your money, lose it all, or break even. Similarly, if you separate your $500 bankroll into five units and make five bets, or 10 units and make 10 bets, your ride lasts a little longer and your outcome is a little less black and white: You can double, bust out, break even, or come out somewhat ahead or behind. Still, the cumulative danger of the house advantage barely comes into play.

Luck can supersede the house advantage, but only in the short run. And though luck accounts for winners big and small — such as the California nurse who lines up four Megabucks symbols on the $3 pay line to win $9 million or the $2 dice shooter who parlays a hot hand into a couple of hundred bucks — the lack of luck can obliterate a bankroll faster than a crooked S&L.

Besides, most people who come to Las Vegas like to gamble for as long as they can without running out of money. These people take their $500 bankrolls and split them into 100 units to make $5 bets, 250 units for $2 bets, 500 units for $1 bets, or even 2,000 units for 25¢ bets. This guarantees plenty of time for the law of averages to even out the fluctuations. On the other hand, it puts the house advantage and the negative expectation right back into the game.

So how do you play as long as you like without the certainty of the house advantage grinding your bankroll into dust?

The Good BetsThe first part of any viable casino strategy is to risk the most money on wagers that present the lowest edge for the house. Blackjack, craps, video poker, and baccarat are the most advantageous to the bettor in this regard. The two types of bets at baccarat have a house advantage of a little more than 1%. The basic line bets at craps, if backed up with full odds, can be as low as.5%. Blackjack and video poker, at times, can not only put you even with the house (a true 50-50 proposition) but actually give you a slight long-term advantage.

How can a casino possibly provide you with a 50-50 or even a positive expectation at some of its games? First, because a vast number of suckers make the bad bets (those with a house advantage of 5%-35%, such as roulette, keno, and slots) day in and day out. Second, because the casino knows that very few people are aware of the opportunities to beat the odds. Third, because it takes skill — requiring study and practice — to be in a position to exploit these opportunities the casino presents. However, a mere hour or two spent learning strategies for the beatable games will put you light-years ahead of the vast majority of visitors who give the gambling industry an average 12%-15% profit margin.

Comps, Clubs, and CouponsNot only can you even out the odds to a certain extent, but you can also take advantage of the various attractive incentives casinos offer so that the suckers will stay and play — and, in the long run, lose, due either to house advantage or basic ignorance. These available, profitable, and somewhat prestigious incentives are known as “comps” (short for complimentaries) or “freebies.” The most common comps are free parking in downtown parking structures (all you have to do is walk into the casino and validate your ticket at the cashier window) and free cocktails (all you have to do is play at any table or machine). Other comps range from a “line pass” (the right to proceed directly into a showroom or restaurant without having to wait in line) all the way to a penthouse suite complete with private swimming pool, butler and chef, and round-trip airfare from anywhere in the world. It all depends on how much you’re willing to risk: Comps are calculated by multiplying your average bet by the amount of time you play by the house advantage.

Say, for example, you play at a $25-a-hand blackjack table for eight hours. The casino expects you to participate in 60 hands an hour and lose at a rate of 2% (what the casino calculates as its average advantage). Sixty hands an hour times $25 a hand times eight hours times 2% equals $240. Of that anticipated profit, the house is prepared to return 30%-40% to you in complimentaries in order to “reward” you for your action. Thus, under the described circumstances, you’ll qualify for $72-$96 worth of comps, whether you win, lose, or break even.

To be eligible for comps, you have to get “rated” as a player. When you sit down to play, have the dealer call over the pit boss — the person who supervises the action on the gaming tables — and tell him that you’d like to have your play rated. The pit boss will fill out a rating card with your name, average bet, and length of play. These data are input into the marketing department computer; based on your “comp equivalency” (for example, the $72-$96 you’ve qualified for), you’ll be provided free food or room or perks. The kings of comps are the “high rollers,” those willing to risk a lot of money at high-stakes games.

Slot clubs are another good way to reconcile the house advantage with playing for as long as you like. These clubs, introduced in the late 1980s to give slot and video poker players some high-roller status, are similar to frequent-flier programs offered by the airlines. It costs nothing to sign up for slot clubs and the benefits can be substantial. When you become a member, you’re given a plastic card that you insert into the gaming machine you’re using; the card tracks your play and you receive points based on the amount of money you risk. Slot-club points can be redeemed for free gifts, food, rooms, invitations to special parties and slot tournaments, VIP status, and even cash. You can join slot clubs at as many casinos as you like, then play at the places that offer the best perks.

Finally, the best bet in any casino is one that is accompanied by a gambling coupon, known as a “lucky buck.” These are most often found in hotel “funbooks,” small coupon booklets given out free for the asking at casinos; generally all you need is a hotel room key and an out-of-state ID (this prevents locals from taking advantage of the valuable promotions). Most funbooks contain coupons that return 7 to 5, 3 to 2, even 2 to 1 on even-money wagers.

Playing with coupons gives you a decided advantage over the house. In our coin-toss example, you’d wager a dollar of your own and a coupon for another dollar. If you win, I’d pay you $2 (for a return of $3). That extra dollar, though it might not seem like much, would pay my commission on 10 additional coin tosses. Furthermore, because some of the major hotel-casinos and most of the smaller ones distribute free funbooks, you and a partner can collect a dozen of them and then go on a “coupon run.” You make even-money bets backed up by coupons, touring a number of casinos while you’re at it. Done properly, you could conceivably fill up an entire Las Vegas visit making positive plays with lucky bucks.

Article by: NYTimes

Top 10 Beginner’s Online Casino Guide

Beginners Guide

The world of online casinos can be both overwhelming and perplexing, especially for new players. Here’s our top 10 beginner’s guide to make it easy for someone new on online casino.

Since I began playing in 2001, my knowledge of gambling and mastering the online dimension have grown immensely. I would like to share my knowledge and experiences of playing online with you to make your introduction to the world of online casino an easier and more enjoyable process!

In the following guide, I have answered ten important questions I faced as I began playing at online casinos. I hope this top 10 guides will give you some tips and tricks in your journey to online casino.

The Top Ten Questions Beginners Ask on Online Casino Guide

  1. What is an online casino?
  2. Is it safe for me to play at online casinos?
  3. Is it legal for me to play in online casinos?
  4. Are online casinos fair?
  5. Can I really win?
  6. How do I withdraw my winnings?
  7. How do I deposit money in an online casino?
  8. Am I a compulsive gambler?
  9. How are the casinos rated and reviewed at johnniepoker.com?
  10. Which games and strategies are preferable?

After several years of online gambling, I continue to enjoy, play and succeed in online casinos. However, one big difference nowadays is that I am more selective of where I play. I enjoy smooth gameplay, realistic and aesthetic graphics, bonuses (extra money provided by the casino), great jackpots and fast payouts. That is why LasVegasUSA Casino stands as my favorite casino – offering all the best in the features that really enhance an online gambling experience.

1. What is an online casino?

An online casino is an internet-based mechanism of gambling that allows real people to play in a virtual environment. Although you do not necessarily have to gamble real money, you have the option to participate in real, live bets with other players and the online host. Most casinos offer the spectrum of classic games like BlackjackPoker, Roulette and Slots, but there is also an emerging area for alternative games. There are two types of casinos: The first are the Download Casinos which include the majority of online casinos. Download casinos require you to download and install a free software program before you can play. It usually takes no longer than 15 minutes to complete this process and it is worthwhile since these download casinos have the best flow, graphics, sounds, and features. The second types of casinos are No Download Casinos. They offer you instant play from any web browser because they use Flash or Java Technology.

2. Is it safe for me to play at online casinos?

When we began playing at online casinos, we were naive in terms of what casinos were safe to play in and which weren’t. However, with over 6 years of experience and having played at more than 300 online casinos, we can confidently say that online casinos are safe. In all of our experience, we have never experienced any kind of misuse of our credit cards or account information. A good indication of whether a casino is a reliable site is by which software they use. The biggest software providers (Boss Media, Cryptologic, Playtech and Microgaming) are quoted on the stock exchanges, and would not dare risk their reputation and place a priority on securing the money of their customers.

Most casinos use a 128-bit encryption which means that the possibility your information would end up in the hands of others is 1 to 340,282,366,920,939,000,000,000,000,000,000,000,000. With odds like those, it seems it is safer to play at an online casino than physically crossing the street to get to your local casino.

3. Is it legal for me to play in online casinos?

There is not one, overarching answer to this question. Different countries have different laws in regard to gambling and online gambling. If you have questions regarding the laws in your area, please contact your local authorities.

That being said, I have never heard of anyone being prosecuted for playing in an online casino. One thing to keep in mind is that when an online casino accepts your address in the registration form during the sign-up process, the casino absorbs all responsibility. The casino will be the one targeted if it is not legal for you to play online.

4. Are online casinos fair?

With more than 2,000 different online casinos on the web, casinos are highly competitive to win the gaming time of their customers. Online casinos recognize that if a customer is not satisfied, they are not more than a click away to switch to a different casino. Therefore, the major software providers make sure that the software they provide ensures the highest quality game with the best payouts. Additionally, the best online casinos also have accountants that manage their game payouts. For example, PricewaterhouseCoopers gives monthly statements of all casinos using the Microgaming Software to all continual monitoring of their casinos’ activities. These statements can be viewed at the casino’s homepage.

Compared to traditional land-based casinos, the payout from online casinos is notably better (between 96-99%) which is due partly to lower expenses and higher competition between online casinos. Online casinos still, however, bring in enormous profits. Because they recognize they can still bring in grand revenues while offering great games and fair payouts, it is advantageous to them to offer honest, quality games in order to maintain both their reputation and their bottom-line.

In summary, I would definitely conclude that online casinos are fair.

5. Can I really win?

As in all casino play, gambling is a risk. There will be games you will win and games that you will lose. However, you can definitely improve your chances of winning and optimize your gambling experience by playing well and choosing the right strategy.

It is definitely possible to win big while online gambling! We have seen several examples from our very own JohnniePoker.com users with photos of their big wins and stories about winnings that exceed the thousands of dollars.

6. How do I withdraw my winnings?

There are usually several options to retrieving your winnings. Each website has its own specifics. Below are the four most common withdrawal options:

Cheque: You can choose to receive your winnings on a cheque. This will be sent to you via the postal mail and will take a few days to get to you. Some casinos might charge you $1 for the mail fee but usually, this service is for free. Also, remember that your bank might charge you a small fee to deposit the money into your bank account.

Cheque via Courier: For immediate delivery, you can have the cheque handled by quick companies like UPS or FedEx who will make sure that the check is in your hands within a few days. Depending on how much you’ve won, they will charge you about $30 for their service.

Wire transfer Wire Transfer: With wire transfer, you can have your winnings transferred to your bank account right away. It is quick and easy but usually, the casinos will charge you a fee for this service, so it is only recommendable if you win a lot.

NETELLER NETeller account: This company is quoted at the London Stock Exchange and provides secure transfer service of your money online. You can create an account for free at www.neteller.com and use it for deposits and withdrawals from all online casinos. You do not have to pay any fees and your winnings will be transferred to your account in a couple of days, making it a convenient option for your deposit/withdrawal needs.

7. How do I deposit money in an online casino?

There are several ways to make a deposit at an online casino:

Credit Cards Credit Card
You can deposit money right away at all online casinos with a credit- or debit card. Cards like Visa card, Mastercard, Diners Club, Eurocard, etc. are accepted at most online gaming sites.

NETELLER Neteller Account
In case your credit card has been denied due to bank restrictions or deposit limits, then NETeller is another option for you to make a deposit at an online casino. As mentioned above, you can create an account for free and use it to make deposits as well as withdrawals.

Wire transfer Wire Transfer
This method will transfer money from your bank account to an online casino. However, it does take some days for the transaction to be completed and is therefore only recommendable if you cannot make a deposit by credit card or if the deposit you wish to make is too big to be completed by credit card transaction.

PaySafeCard Paysafecard
This card can be purchased in your local shop and can be used for payments on several internet sites. You can find the nearest local seller at www.paysafecard.com. To use it you have to type in the PIN code and Password (these you will find on the Paysafecard) and the current amount you bought will be transferred to the casino accordingly.

8. Am I a compulsive gambler?

Although intended to be an exciting, entertaining and enjoyable experience, gambling can become an obsession. When one feels an uncontrollable obsession to win that consumes their life and distorts their judgment, they can be diagnosed as a compulsive gambler. People become addicted to gambling for several reasons–it allows them an escape from reality, offers them a bit of excitement and distracts them from life outside the game. Compulsive gambling can result in bankruptcy, debt, ruined relationships and a plethora of other problems. There is surely a blurred borderline to this phenomenon that makes it difficult to say precisely when you are obsessed about playing or just eager to win in a healthy way, but a golden rule is that you should never play with money you cannot afford to lose. Also, remember that gambling is meant to be fun.

If you might have a gambling problem then please consult your doctor or visit: www.gamblersanonymous.org

9. How are the casinos rated at JohnniePoker.com?

We put a great effort into carefully trying and testing casinos before we review and recommend them at JohnniePoker.com. Casinos are tested by either Jesper or me by making a deposit and playing at the casino to see if it works according to our standards of fair games, reliable payouts, and good support service. If so, we rate the casino upon the following criteria:

  • The quality and quantity of the signup bonus and other promotions
  • The quality and quantity of games, the software design used and other advantageous features
  • The quality and quantity of support – for example, if live help is offered and if they give precise and fast answers to our questions
  • The time it takes to complete payments

10. Which games and strategies are preferable?

In my opinion, Blackjack is the best game to play online due to both the high payout potential and the overall thrill the game incites. It is a game that requires both skill and strategy on how to play your hand — therefore I find it more exciting than games that only depend on pure luck.
It is always enjoyable to play other classic casino games. Games like Roulette, Video Poker and Slots always provide a great time. One of Jesper’s favorites is “Let it Ride Poker” because you get the chance of hitting the Jackpot with a nice Royal Flush.