winnings...a smart play or recipe for disaster?
of the age-old questions raised and speculated on time and time
again is whether a skilled player can beat the casino over the long
term. You might have
found a system that is touted as a sure-thing that
guarantees long term winnings.
you donít have to search very hard online to find a litany of web
sites peddling their sure-fired, canít lose, guaranteed to work
(but no refunds, sorry) betting system that has made the inventor
millions and had the casinos begging for mercy.
And yet that individual still spends so much time and effort
trying to sell their system rather than just going back to the
casinos to extract more easy money.
Can it be because these people like to spread the wealth and
let us all in on such a fabulous and revolutionary system that has
escaped all players for centuries to date, out of the goodness of
their hearts? Maybe
they just feel guilty that they are making all of the money and not
letting the rest of us join the party?
Or maybe, just maybe, the only way they can make money from
their systems is to sell them rather than use them because in actual
fact they do not guarantee long term winnings?
a gun were put to my head, and I had to take a guess as to which of
the above answers were correct Iíd be inclined to choose the
latter. You see, one of
lifeís unfortunate but inalienable truths is that in the long
term, the house always wins. If
you doubt this fact, you need only take a look at the house (Crown
in Melbourne, the Monte Carlo, the Bellagio or Venetian in Las
Vegas) and consider that players within its substantial walls fund
the up-keep (and them some) of these behemoths from their play.
Online casinos donít have substantial walls to fund, but I
have it on pretty good authority that they do quite well from their
players as well.
house always wins because every casino game offered by the house has
an inbuilt mathematical house edge. While the flip of the card, roll of the dice, or fall of the
ball for each bet is a totally random event, the game rules are
devised such that, on the balance of probabilities, or if an
infinite number of games were played, the player would win slightly
less money than he or she would lose.
And unfortunately this fact cannot be changed by the player
because when you play at the casino, you play the house rules.
does this mean that you can never win playing at the casino?
despair totally. The
answer to this question is definitely no. You can win playing at casinos.
Many people have won money playing their chosen game at both
traditional and online casinos.
Many have won substantial amountsÖ and as sure as the sun
will rise tomorrow, many more will win in days to come.
But a winning position will usually only be short term and on
the balance of probabilities cannot be sustained.
most dangerous mindset a gambler can have is that their big early
winnings can be sustained. The
easy money can continue to be easy.
This will only lead to tears when those winnings are eroded
and become losses that become substantial losses as winnings
continue to be chased.
the moral of the story isÖ.
with what you can afford to lose and expect to lose it.
If you win, pocket those winnings and walk away.
I know ÖÖ.easier said than done!