When it comes to gambling, there are some universal truths that players should be aware of before entering the casino or registering for an online casino account.
The reason for this need is pretty simple. Many people are simply not aware of the reality of gambling and these people will not see the same winnings that the players make.
So here are facts you should know about gambling. It could save you a lot of heartache if you take this into account.
1 – Slots are the worst way to spend your money
It is common knowledge in the gambling industry that while the tables pay for extras, the slots keep the lights on.
The reality of slots is that they can be very precisely tuned to ensure a particularly low return. Because of this fact, slots have always been the big money makers for casinos. When you toss money into slots, you are almost always throwing it away in the long run, even if you have "strategy" in place.
And I put "strategy" in quotation marks because slots are hardly a game of skill. Their extremely low chances of winning are compounded by the fact that many people think they can tell which slot machines are "tight" and which slot machines are "loose".
Short messages – there is no such thing.
Casinos do not set up tight or loose machines in strategic areas. Why? Because the machines no longer spit out coins as they used to. You will receive a voucher or something similar that encourages you to keep playing.
Well, casinos may have done it in the past, but as things changed the concept of placing "better paying" slots in different areas also changed. This leads me to my next point.
2 – There is no hot or cold streak
This is one that so many gamers swear by and are largely mistaken about. Whole books have been written on this problem; In fact, there is an entire branch of mathematics devoted to studying.
Yes, it's called statistics.
Statistics show that “hot” and “cold” streaks are nothing more than completely random sequences of events that our human minds have arbitrarily given meaning.
All of these games are completely random and I mean completely. There are no patterns that you can see. You're not a genius who can sense when a machine is going to pay more or less. You are either lucky or not.
This is especially true for slot machines. The way these machines work is based on a chip in the machine (which you cannot manipulate in any way), which contains, among other things, an RNG (a random number generator). The RNG literally generates random numbers at a fixed rate. Sometimes these numbers are winning numbers, sometimes not.
What you need to understand about RNGs is that they usually produce a certain percentage of profits and losses over a very large period of time (such as months to years). You can sit in front of the same machine for a week and never make a big profit. However, over time, this machine would, on average, produce the expected amount of money.
What's worse than that? The fact that all games are stacked against you anyway.
3 – The house edge just keeps getting worse
If you've never heard of this term, the house edge is basically what the house edge is over the player in every single game.
It varies from game to game, but pretty much everything is bad.
Blackjack is a good example. When playing blackjack, the dealer does not have to reveal his hand until the player does so. Why does it matter? Because if the dealer has a losing hand and you lose first, the dealer wins even though his hand was bad.
The house edge could be around 8%, which is then mitigated by a variety of factors (for example, if you play blackjack, you will be paid back 3: 2 in many cases).
If you have a strategy and pick the right place to play, you can bring the house edge down to around 0.5%, which still means that over time the house will make more money than it loses.
How does it look? Let's assume a house edge of 1%. If you bet an average of $ 60 an hour, you should lose an average of $ 1 an hour. That doesn't sound bad, does it? Well, that makes a lot of assumptions. You may lose a lot more and have to gamble for days or weeks for this average to really show up.
Other games are much worse. Keno is notoriously bad, but pretty much all of the games are stacked against you on purpose. This is how casinos keep making money.
Here's what you really need to understand: Gambling is good entertainment, but you shouldn't completely rely on you to pay the bills (even the small ones).
4 – The chances of winning the lottery are worse than you think
So let's say you have your head straight. Usually you stay out of the casinos, play online now and then, but you also enjoy playing the lottery.
If you think the odds of winning casino games are poor, the lottery is another thing.
The odds of winning the lottery are pretty astronomical. You have a better chance of being eaten alive by a shark in a car accident while being struck by lightning. It just won't happen.
They call the lottery "a tax on the poor" for good reason. Remember, a tax is something you pay and never see again. The odds of winning are so slim that they might as well not exist.
You can buy tens of thousands of tickets every year for their lifetime and still never win.
Well, one guy figured out that if you had enough money to buy every possible combination, you would be ahead of the curve. But you need a few million in your pocket to pull off this trick.
You are much better off literally spending your money on something other than the lottery. It's about the biggest waste of money there is.
5 – Playing casino games slowly has an advantage
This one makes sense when you think about it. The concept is somewhat similar to drinking alcohol. We all know the guy who goes to the bar who drinks too fast and ends up getting a little hammered.
The same goes for gambling. If you go to a casino and inflate all your money on a handful of games in the first five minutes, you'll be broke before you know and more likely to hit the ATM to try to get more cash.
Why should you go to the ATM? Essentially because you haven't played long enough to remove it from your system. You haven't been able to enjoy the process yet. As with many things in life, long-term slowing down will bring many benefits in the long run.
Think of it this way: if you play $ 5 every minute, you will be spending $ 100 in 20 minutes. That seems like a lot, doesn't it? Now, if you slow it down a little, the same $ 100 could take an hour. An hour of gambling can be a fun, relaxing distraction.
But 20 minutes? Not as much.
6 – Yes, you should join the Players Club
The latter is something not everyone thinks about. If you already know you're going to be gambling quite a bit, you can turn it into some freebies too!
Player clubs are reward programs available at most major casinos. They give you points for pretty much every game you play, and those points can be used for a lot more than just gambling. You can get discounts on show tickets (or even free show tickets), free drinks, and even a free room if you've spent enough money and you're lucky.
The best thing about player clubs is that all of the major casinos want you to join their club. They all give you casino comps when you join to motivate you to stick with them.
That means you can walk from one casino to the next on the Strip and collect your free rewards and walk away with a few nifty things while still playing the same amount of gambling that you would be doing anyway.
The same goes for online casinos. Most of the websites have player clubs that even reward you with free flights, cruises, and so much more!
If you spend a lot of time playing at the best online casinos, then at least you should be doing it smartly. Follow the rules above, note the truths of gambling and how all of these work, and you can think of it as an upkeep rather than a chance to win it big.
Is there anything I crossed off the list? Let me know in the comments!