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Could you clarify the situation for those who are new to gambling? If I purchase a lottery ticket or wager on a cake wheel and come out on top, will I lose my initial investment? In contrast, what happens to my stake when I win on a roulette table or at the racetrack? Can you explain?

Paul from Baltimore, Maryland

The return of your original wager primarily hinges on the type of bet placed. Typically, in most table games at casinos, your original stake is returned if you win a payout. However, when it comes to lotteries, horses, slot machines, and cake wheel games, you generally don't get your initial wager back upon winning. As a general guideline, if you need to activate a machine for the bet, the original stake is forfeited. The cake wheel is a unique case, being more about enjoyment and charity (I recall winning a cake at a fair in Fresno a long time ago).

Losing your initial wager isn't always negative. If casinos returned it, they would likely reduce payouts to recover their losses. When odds are represented as 'to one', winning means reclaiming your original stake. Conversely, if expressed as 'for one', the original wager isn't returned.

In sports betting with point spreads, it seems that the bet winner bears a 10% commission, not the loser. Am I overlooking something?

Bob from Lake Charles, Louisiana

You can interpret it from different perspectives. For instance, if you wager $11 with the chance to win $10 on a sporting event.

Loser pays: It's possible to see this as a fair bet, with a refundable fee of $1 for winning. Hence, only those who lose end up paying this fee.

Winner pays: A balanced bet would provide $11 for an $11 wager. However, if victorious, the winner only receives $10. The dollar difference could be considered a commission or charge.

From my perspective, I view it as both parties contributing to a 4.54% house edge, assuming a winning probability of 50%.

I’m not fond of gambling. A glance at the statistics reveals that I'm destined to lose, unless I'm skilled at complex counting. However, I do appreciate the ambiance of casinos. The question I find myself asking is how I can prolong my gaming experience while minimizing losses? blackjack I recall a discussion suggesting that by placing two bets on the same roll in craps, I could reduce the house odds significantly. While I don't expect to score big, I aim to avoid substantial losses. I realize this may not seem thrilling, but that’s just me. My wife and I plan to sit separately at the table to effectively offset each other’s bets; perhaps one will score big while the other incurs losses. If we each bring ample funds, we might enjoy a few hours of play. I believe the bets were on Pass and Don't Pass.

Fred, wagering on opposite sides of the same game lacks excitement. If you and your wife converse, you'll likely appear foolish betting against each other. If you pretend not to know one another, it diminishes the fun.

Fred from Los Angeles, California

Your intent to limit possible losses while still enjoying the game is quite common. Personally, I would recommend finding a venue with low minimum bets where you feel at ease, and opt for a low-volatility game that features a small house edge. Games like pai gow poker and pai gow tiles offer slower play with many tie situations. You might not have the time to learn the tile game, so my suggestion is to consider...

Do you think that players' 'wishful thinking' can influence the results of a game? I’m curious about your philosophical viewpoint, not concerned with the MAGNITUDE of the effect. Additionally, do you believe that the way a player throws dice in craps can create a bias (positive or negative) in the outcome? By the way, your site is incredible. pai gow poker .

Thank you for the compliment. No, I don't believe wishful thinking provides an edge in the casino environment, assuming all else is equal.

Ted F. from Perth Amboy, New Jersey

The debate about dice influence is ongoing. Personally, I remain doubtful. As I contemplate this response in 2013, I still have yet to encounter compelling proof that anyone can exert enough control to gain an advantage.

Having been a dealer in Vancouver, Canada for more than six years, having dealt nearly all casino games (with the exception of craps), I’ve concluded that a player’s best strategy is to bet their entire bankroll on one decisive wager, ideally in baccarat, and on the Banker. This strategy stems from the observation that the longer a player remains at the tables, the more likely they are to succumb to the odds, increasing the chances of total loss. While this one-off betting approach may lack excitement, it can be more financially sound (or at the very least, less harmful).

Absolutely, you have a valid point. The fewer bets you place, the better your chances of winning. The expected loss is fundamentally related to the total stake. If a player is continually exchanging money between themselves and the dealer, the house edge will eventually diminish the player’s funds. Nevertheless, maximizing winning odds shouldn’t be the singular goal of gambling; having fun is significant too. Placing your whole bankroll in one bet could be less enjoyable than gradually playing it out. Moreover, it may lead to a higher risk of significant loss depending on how much play is entailed in an alternative approach. If your objective is to reduce the house edge, the best strategy is to use the machine marked 'change.'

Mel C. from Coquitlam, BC, Canada

Certain casinos provide 'comps' depending on your level of activity. I was curious if there's a method to estimate how much I would need to wager in order to receive these comps.

Your comp offers rely on a combination of your average wager, duration of play, hands per hour, house edge, and a comp constant, typically ranging from 33% to 40%. I have outlined what one of the casinos on the Vegas Strip assumes regarding house edge and hands played per hour in my...

Steve from New York, USA

Are all junket companies equal? The Grand Casino, which is part of Park Place Entertainment, directed us to the Casino Connections junket firm based on our gaming habits. If we wish to explore other casinos where they will cover our airfare and related costs, what steps can we take to identify the appropriate junket firm for the venue we're interested in visiting and persuade them to accommodate us? house edge summary.

This topic veers beyond my area of expertise. While in college, I benefited from discounted junket flights from Santa Barbara to Reno, needing to be a minimum $5 player. However, advertisements for such junkets have become increasingly rare. I would suggest reaching out to the casino host of a preferred casino to negotiate a deal. However, it appears that you might need to be identified as a high-roller to qualify for complimentary lodging and travel reimbursement.

Malcolm from Atlanta, USA

You dedicate a considerable amount of your site explaining that no system can genuinely overcome the house edge. I’m curious why you continue to engage with casino games, knowing you’re likely to end up losing in the long run?

The infrequent occasions when I choose to participate in games with a negative expected outcome are purely for entertainment purposes.

Yvan from Quebec, Canada

is the only game that I find enjoyable enough to engage in without any associated advantage. pai gow (tiles) I comprehend the calculations that determine the house advantage across various games. My inquiry primarily relates to games featuring substantial payouts (for instance, a royal flush in Let It Ride). Wouldn’t it make more sense to compute the 'house advantage' while excluding the royal flush? Although hitting the royal is theoretically possible, it's notably improbable for the average player. Could this adjusted house advantage be more relevant for the typical player? I appreciate the fantastic insights on your site.

You've raised a compelling argument. For short-term expectations, it would be wise to exclude the highest payouts from consideration. I know that video poker players often omit royal flushes when assessing their short-term prospects. Nevertheless, as a mathematical purist, I find it essential to factor in every conceivable outcome, however unlikely it may be.

Bill from Corpus Christi, USA

I've been contemplating some money management strategies and I want to express my gratitude for your sound advice (primarily rooted in probability theory). It seems that winning probabilities correlate closely with your initial bankroll. For example, calculating the probability of gaining $100 on a $200 buy-in before risking bankruptcy. This information is invaluable, but without crunching the numbers (which I know I should), I feel that winning limits should be derived more from your betting unit, such as $1, $5, $10, and so forth. The concept being that smaller bets result in less fluctuation over time compared to larger ones. My question is this: If I have a specific bankroll (like $100) and a defined win limit (like $50), what (if any) betting unit would maximize my chances of success? I worry that betting too small might hinder my chances of exceeding the average, while betting too high could risk running out of money.

In your scenario, assuming a game with a negative expectation, the optimal bet size to enhance the probability of achieving your win goal is $50. Conversely, in a positive expectation scenario, the ideal bet size would be the smallest possible. This is because the more you engage with the game, the more the house edge will take its toll, or the more you'll potentially grind down the casino if you hold the advantage.

Scott from Saline, Michigan

I had a question regarding the house edge: The house has a continual advantage over time, but one critical factor often overlooked in calculations is that I have the choice to stop playing. If I notice I'm on a losing streak, I can decide to cut my losses. Likewise, if I feel I've won enough (though that’s always subjective), I can choose to cease betting. The house lacks this discretion. How does this factor into the calculations?

In the long term, this sort of bankroll management will neither benefit nor harm you. By halting losses at a certain point and departing, you might miss out on a potential comeback. Conversely, leaving with a modest win runs the risk of not capitalizing on an even larger victory. Of course, things could also worsen. As a rule of thumb, you should consider that previous outcomes do not impact future hands, as every game represents a fresh start. The most effective method to elevate your odds is to minimize the house edge wherever possible. While I support the idea of money management, it won't alter the underlying house edge.

Yaniv

I've encountered multiple mentions of ongoing bonus abuses from individuals in Denmark. Do you possess any insights into what’s happening? What specific actions are occurring, and how can we avoid being classified as bonus abusers?

Explore the top online casinos available in your country.

Rich

Calculator for determining potential lottery jackpot ticket sales.

Please explain \"playing perfectly.\"

Glen

Engage in slot tournaments that feature enormous prize pools.

Could you clarify this for those who aren't gamblers? If I buy a lottery ticket or place a bet on a cake wheel and win, I don’t get my initial stake back. What happens to my original wager on roulette or at the racetrack if I end up winning? Can you explain why?

Alastair from London, UK

Whether or not you regain your initial bet is contingent on the nature of your wager. In the majority of casino table games, winning typically returns your original stake. However, with lotteries, horse races, slot machines, and cake wheels, winning does not return your wager. Generally, if you need to activate a machine for your bet, your stake is forfeited. The cake wheel is a notable exception since it's fundamentally a fun and charitable game (speaking of which, I once won a cake at a fair in Fresno!).

Losing your original stake isn't always a negative outcome. If casinos refunded bets, they would have to lower payout returns to balance the costs. Odds presented as 'to one' indicate you’ll get your initial bet back when you win. Conversely, 'for one' means your stake is lost.

Joseph

In sports betting, particularly against the spread, it seems that the winning player incurs the 10% commission rather than the loser. What am I missing in this equation?

Your Money Management page says:

You could view this scenario from two perspectives. For instance, imagine placing an $11 bet to win $10 on a match.

In the case of the loser footing the bill: one might consider it an even-money wager, with a $1 fee refunded if victory is achieved. Thus, only losers end up paying the fee.

anonymous

Considering the winner’s perspective: a fair wager would yield $11 for an $11 bet. But if the bettor wins, they only receive $10, leading to a missing dollar interpreted as a commission or fee.

In my view, this creates a scenario where both parties contribute within a 4.54% house edge, given a 50% chance of winning.

anonymous

Gambling isn’t appealing to me. A quick glance at the mathematics reveals a likelihood of loss, unless I could master some complex counting technique. Yet, I do appreciate the casino environment. The pivotal question is how can I make my money last longer while gambling?

I seem to recall an article suggesting that by placing two simultaneous bets on a single craps roll, I could minimize the house’s odds significantly. While I might not secure a massive win, I could also avoid substantial losses. Although it may seem rather dull, I consider myself an ordinary individual. I plan for my wife and I to sit at the table and effectively offset each other; one could win big while the other suffers a loss. If we each come with a substantial roll, perhaps we can extend our gameplay for several hours. I believe the bets were Pass & Don’t Pass.

anonymous

Fred, wagering on opposing sides doesn't provide much enjoyment. If you and your wife converse, you'll seem foolish by betting against each other. Pretending not to know each other might dampen the fun.

It's quite common to want to limit potential losses while still participating in games. Personally, I would recommend finding a venue with minimal betting limits where you feel comfortable and engage in lower volatility games with a slim house edge. Slow-paced games, such as pai gow poker and pai gow tiles, are ideal, though you might lack the patience needed to learn the tile game. I'd suggest trying something else.

anonymous

Do you think players' 'wishful thinking' can impact the results of a game? I’m more interested in your philosophical take, rather than the magnitude of the effect. Additionally, do you believe the way a player throws dice in craps could create a bias in the outcome, whether positive or negative? As always, your site is fantastic.

Dear Wizard,

Thank you for your kind sentiments. However, I don’t think that wishful thinking plays a role in a casino environment, provided all else remains equal.

The topic of dice influence is widely debated. Personally, I remain quite skeptical. As I reflect on this in 2013, I've yet to encounter convincing evidence that anyone can manipulate outcomes sufficiently to gain an advantage.

Andy

Having worked as a dealer in Vancouver, Canada for over six years and dealt with all types of casino games (excluding craps), I feel that the best betting strategy is to stake your entire bankroll on a single shot, preferably on banker bets in baccarat. My reasoning stems from observing that the longer someone gambles, the more likely the odds will work against them, increasing their chances of losing everything. While this strategy might lack excitement, it’s likely to be more beneficial—or, let’s say, less damaging.

You're absolutely right. The fewer bets placed, the better the odds of coming out ahead. The anticipated loss also correlates with the total wagered amount. If a player continues to circulate cash between themselves and the dealer, the house edge will gradually erode their bankroll. However, optimizing winning odds shouldn’t be the sole aim of gambling. Enjoyment is equally essential. Placing an entire bankroll on a single bet might not be as entertaining as spreading out plays. Additionally, it could increase the risk of significant losses depending on the level of play involved. For those wanting to reduce the house edge, your best bet is to put your cash into the machine labeled 'change.'

Wally from Houston

Certain casinos provide 'comps' based on various levels of play. I was curious about how I could estimate how much I would need to wager to earn these perks. October 30 2001 column .

Your comp offers are influenced by the formula of your average bet, the duration you play, the number of hands per hour, the house edge, and a certain 'comp' constant, which typically ranges between 33% and 40%. In my experience, I can outline the assumptions certain Las Vegas Strip casinos make regarding house edge and hands dealt per hour.

anonymous

According to Cecil Adams Are all junket companies identical? The Grand Casino (a property of Park Place Entertainment) directed us to the Casino Connections junket firm based on our gaming habits. If we wish to explore different casinos and have them cover the airfare and other expenses, how can we locate the junket firm that caters to the venue we want to visit and persuade them to accommodate us?

This question goes beyond my expertise. Back in college, I utilized almost free junket flights from Santa Barbara to Reno with only a minimum $5 bet required. Nonetheless, these days junket flights rarely seem to be advertised. I recommend reaching out to the casino host at a place you enjoy and discussing a potential deal in advance. That said, you may need to be a high-stakes player to qualify for complimentary hotel stays and flights. inspirationline.com You dedicate a lot of space on your website emphasizing that no strategy can outsmart the house edge. I'm curious about what compels you to continue playing casino games, knowing you’re likely to face losses in the long run?

The rare occasions I engage in negative expectation games are purely for entertainment purposes.

anonymous

is the only game I find enjoyable enough to play without needing a distinct advantage.

Quit gambling.

anonymous

But it is so much fun.

I grasp the calculations that illustrate the house advantage in various games. My inquiry pertains particularly to those with substantial payouts (such as a royal flush in Let It Ride). Would it not be more logical to calculate the 'house advantage' while excluding the royal flush? Although achieving a royal flush is theoretically possible, it’s exceedingly unlikely for the average player. Would this adjusted house advantage be a more relevant statistic for the average player? Thanks for maintaining such a great site.

anonymous

You raise an excellent point. When considering short-term expectations, it makes sense to overlook the highest hands. I’m aware that video poker players sometimes exclude royal flushes when calculating their short-term predictions. However, as a stickler for mathematical accuracy, I feel compelled to consider all potential outcomes, no matter how improbable.

I've been contemplating various money management strategies and wanted to express my gratitude for the sound advice (especially regarding probability theory). It appears that winning probabilities largely hinge on your initial bankroll. For instance, estimating the chance of winning $100 with a $200 buy-in without going broke first. This insight is beneficial, but without crunching the numbers (shame on me!), I feel that winning limits should be more based on the size of your betting unit, such as $1, $5, $10, and so on. The core idea is that smaller bets would lead to less dramatic fluctuations over time compared to larger bets. My actual query is: if I start with a bankroll of $100 and set a win limit of $50, which betting unit would maximize my chances of success? I worry that a very small bet might diminish my potential for exceeding average gains, while a larger bet could risk bankruptcy. Any guidance or thoughts? Aug 25, 2003 In your scenario, assuming a negative expectation game, the optimal bet size to enhance the likelihood of reaching your win target is $50. Conversely, in a positive expectation scenario, the best strategy is to bet as little as possible. The rationale is that the more hands you play, the more the house edge can chip away at your funds, or the greater the potential for you to edge out the casino if you hold the advantage.

  1. I wanted to discuss the house edge: while the house has the advantage regarding gameplay dynamics, one critical element often overlooked when performing calculations is that I have the option to choose when to stop. If I observe that I'm losing, I can cut my losses. If I feel I’ve won enough (which is a subjective threshold), I can choose to stop betting altogether. Conversely, the house doesn't have such a choice. How does this aspect influence the overall calculations?
  2. In the long run, such money management tactics may neither positively nor negatively affect your outcomes. By deciding to cut losses at a certain point, you risk missing potential recoveries. By walking away with a modest gain, the chance of this turning into a larger profit also diminishes. Naturally, worsening situations is also a possibility. Generally, you can assume that previous outcomes don’t carry over, and each hand represents a renewed opportunity. To truly improve your odds, focus on minimizing the house edge as much as possible. While I’m not against money management strategies, they won’t alter the house edge.
  3. I've encountered multiple mentions of ongoing bonus exploitation issues by individuals in Denmark. Do you have further insights into what's occurring? What are these individuals doing, and how can we avoid becoming bonus abusers ourselves?
  4. Uncover the top online casinos available in your region.

Thanks again for the great site!

anonymous

Calculator for estimating lottery jackpot ticket sales.

Participate in slot tournaments featuring large prize pools.

anonymous

Could you clarify this for individuals who don't gamble seriously? If I buy a lottery ticket or place a bet on a cake wheel and win, my initial stake isn't returned. What happens to my original wager in games like roulette or at the racetrack if I win? Why is that?

Whether you receive your initial bet back depends on the nature of your wager. For most table games in casinos, winning does return your original stake. However, with lotteries, horse racing, slot machines, and cake wheels, winning means you don't reclaim your wager. A good guideline is that any bet you activate with a machine is forfeit. The cake wheel is an exception since it serves primarily for entertainment and charitable purposes (by the way, I won a cake at a fair in Fresno many years ago).

Mark

Losing your initial wager isn't always a negative outcome. If bets were returned, payout structures would have to be adjusted to recover those funds. When odds are expressed as 'to one,' it means you receive your bet back upon winning. If they are stated as 'for one,' then you won't.

In sports betting against the spread, it seems the winning side absorbs the 10% commission, rather than the losing side. What are your thoughts on this?

anonymous

You can approach this from different angles. Let's say you place an $11 bet to win $10 in a game.

The loser bears the cost: One could categorize it as an even-money bet, involving a $1 fee that is refundable if you win. Thus, it's only the losers who ultimately pay that fee.

The winner covers the cost: In a true even-money bet, a successful $11 wager would yield $11. But if the bet wins, the winner only takes home $10, meaning the one-dollar difference could be considered as a commission or fee.

Larry

Personally, I see it as both sides contributing to a 4.54% house advantage, assuming a winning probability of 50%.

Gambling isn't my preference. A glance at the probabilities indicates losses are inevitable, unless I can master complex strategies. Nevertheless, I enjoy the vibe of casinos. Therefore, the challenge is how to manage my funds to prolong the experience of play without losing quickly.

I remember reading that by making two separate bets on the same roll in craps, I could reduce the house edge to its lowest. While I might not hit it big, I also won't face significant losses. It may not sound thrilling, but that's my style. My wife and I could sit at the same table but make opposing bets, balancing each other out; while one may win big, the other could lose substantially. If we each have enough funds, maybe we could extend our playtime to a few hours. I believe the bets were Pass & Don’t Pass.

Fred, wagering on opposing outcomes isn't engaging. If you and your spouse openly discuss your bets, it might look foolish to be betting against each other. Pretending to be strangers would detract from the enjoyment of the game.

Your focus on minimizing potential losses while still participating in the games is quite common. Personally, I suggest finding venues with lower minimum bets where you can enjoy playing low-volatility games with a minor house edge. Games like pai gow poker and pai gow (tiles) are slower-paced and result in numerous ties. You might not have the time to learn tiles, so I recommend exploring alternatives.

anonymous

Do you believe that players' 'wishful thinking' can impact the outcome of a game? I'm not asking about the extent of the effect, just your philosophical take. Also, do you believe that the way a player throws dice in craps could create bias (positive or negative) in the results? As always, I love your site.

Thanks for the compliment! No, I don't think that wishful thinking plays any role in the casino, keeping all other factors constant.

anonymous

The topic of dice influence sparks lots of debates. Personally, I remain doubtful. Even as I revisit this response in 2013, I still haven't seen compelling proof that anyone can influence the outcome significantly.

I have worked as a dealer in Vancouver, Canada for over six years. After dealing all types of casino games (except craps), I've concluded that the optimal betting strategy is to wager your entire bankroll on a single bet, preferably in baccarat, betting on the Banker. This recommendation stems from the observation that the longer players gamble, the more likely they are to succumb to the odds, ultimately losing everything. While the one-shot strategy might not be very entertaining, it is likely to be more profitable (or at least less harmful).

anonymous

Here in Vegas, yes you can.

You are completely correct. Fewer total bets lead to better odds of winning. Expected losses correlate with the total amount wagered. If a player continuously exchanges funds with the dealer, the house edge will eventually wear the player down. However, increasing your chances of winning shouldn't be the sole focus of gambling; having fun is equally important. Placing your entire bankroll on the table at once might not be as enjoyable as gradually playing it out. Additionally, it bears a higher risk of large losses based on the amount of play involved in that alternative. To significantly reduce the house edge, the best move is to place your money in the change machine.

Some casinos provide 'comps' depending on the level of activity. I’m curious if there is a method to estimate how much I would need to wager to earn these comps.

Dr. Tom from Youngstown

The offers you receive for comps will be influenced by the product of your average wager, duration of play, hands dealt per hour, house edge, and a comp constant typically between 33% and 40%. I've mentioned what some casinos on the Vegas Strip typically assume concerning house edge and hands per hour in my analysis.

Are all junket companies identical? The Grand Casino (part of Park Place Entertainment) directed us to Casino Connections based on our gambling activities. If we're interested in exploring other casinos where they can cover our airfare, how can we locate the right junket company for those venues and persuade them to accept us?

Todd from New York

This inquiry reaches beyond my area of expertise. Back in college, I enjoyed almost free junket flights from Santa Barbara to Reno with a minimum requirement of being a $5 player. However, I rarely notice advertisements for junket trips by plane anymore. I suggest contacting the casino host at a preferred casino to arrange a deal. Still, I think you might need to be a high roller to qualify for free lodging and airfare reimbursement.

You dedicate substantial sections of your website to explaining that no betting system can defeat the house edge. I'm interested in what motivates you to keep gambling if you know that you're likely to end up losing anyway?

Tom from Culver City

On the rare occasions I engage in games with negative expectations, it's purely for the sake of enjoyment. craps is the only game that remains enjoyable enough to play without any advantage.

I comprehend the calculations that define the house advantage across various games. My inquiry pertains mainly to those games with significant payouts (for example, a royal flush in Let It Ride). Would it not be more sensible to calculate the house advantage excluding the royal flush? Achieving a royal will is certainly possible, yet it’s incredibly improbable for the typical player. Would this adjusted house advantage be more applicable to the average gambler? Thank you for maintaining such a fantastic site.

Barbara from Englewood

You raise a valid point. In terms of short-term expectations, evident hands should be disregarded. I understand that video poker enthusiasts sometimes omit royal flushes when calculating short-term expectations. However, as a mathematical purist, I feel compelled to factor in every potential outcome, no matter how remote.

I've been contemplating different money management strategies, and I want to express my gratitude for your insightful advice (actually rooted in probability theory). It seems that winning probabilities correlate closely with your initial bankroll. For instance, figuring the odds of turning a $200 buy-in into a $100 win without going broke is incredibly useful. However, despite my lack of mathematical examination (I know, I know), I sense that win limits should align more closely with your betting increments, whether that’s $1, $5, $10, etc. Ultimately, smaller bets should result in less volatility over time compared to larger wagers. My core question is: if I possess a specific bankroll (let's say $100) and establish a designated win limit (say $50), what wagering unit would maximize my success potential? I’m concerned that a bet that’s too small will restrict my ability to achieve above average winnings, while a bet that’s too large could lead me to bankruptcy. Any suggestions or thoughts?

Andrew from Pewaukee, WI

In your scenario, assuming a negative expectation game, the most effective bet size to enhance the likelihood of hitting your win target is $50. Conversely, in a positive expectation game, the ideal bet size is the smallest possible. This is because frequent play increases the impact of the house edge against you, or conversely, in your favor if you hold the edge.67I’d like to discuss the house edge: The house retains the advantage in terms of variance, but something crucial often overlooked in calculations is the player's ability to choose when to exit. If I realize I’m on a losing streak, I might decide to minimize my losses. Conversely, if I've won sufficient amounts (not that there's a cap), I can choose to stop betting altogether. The house lacks that capacity. How does this ability shape the calculations?

Over time, this kind of money management will neither significantly aid nor hinder you. By choosing to cut your losses and walk away, you might miss the chance for a comeback. Conversely, by leaving with a modest profit, you could forfeit the chance to convert it into something greater. Of course, things can also deteriorate further. Generally speaking, it’s wise to assume that past outcomes don’t dictate future ones, and every round presents a fresh beginning. The best way to improve your odds is to minimize the house edge as much as you can. While I support money management strategies, they won't alter the underlying house edge.

Mike from Miami

Because it is so much fun!

I have seen multiple instances of ongoing bonus misuse reported by people residing in Denmark. Can you provide further information about what is occurring here? What actions are being taken, and how can we avoid falling into the category of bonus abusers?

Hector from Cardiff, UK

While I may not have all the specifics, I've noticed that many players from Denmark seem to be taking advantage of bonuses. A good strategy to avoid being seen as a bonus hunter is to consistently play well beyond the minimum requirements. I can’t provide an exact number, but aiming to surpass those requirements by at least double would be wise. Moreover, providing play to casinos that offer you frequent bonuses can serve as a disguise. If you strictly play during promotional periods, it won’t reflect well on you as a genuine gambler. In general, exercising restraint is key. video poker appendix 1 Playing perfectly is essentially linked to employing an optimal strategy. This means utilizing all accessible information in a way that maximizes the potential rewards of your bets.

Given my limited knowledge of casinos and my inability to master all the intricate details available on your website, could you suggest some games I should try during my upcoming visit to Las Vegas?

Thomas from Durham

I suggest you try your luck at craps or baccarat. When playing craps, focus on the line bets and add odds. For baccarat, it's best to consistently place your bets on the banker. Ten Commandments of Gambling I have a straightforward question. I recognize your expertise in odds, yet I could use some assistance. I enjoy playing Craps and Texas Hold’em, and I believe mastering the art of shuffling my poker chips could boost my intimidating presence (AND THUS IMPROVE MY WINNING CHANCES). I've tried practicing but I'm struggling with it. Could you provide some guidance on learning this skill? I appreciate your help.

You’ve come to the right expert! I’m skilled at shuffling poker chips, although I rarely have the chance to demonstrate it since when I play with chips, I’m usually focused on counting cards or reading hole cards, and I prefer not to look overly skilled. To start, take a stack of 10 chips and divide it into two groups of five. Position these groups side by side, forming an '8'. Tilt the '8' at about a 45-degree angle with respect to your symmetry line. Place your thumb underneath the bottom of the '8', your index finger at the center, and the rest of your fingers at the top. Ensure your fingers are just grazing the table. Then, while gently lifting both stacks with your index finger, use your remaining fingers to press the stacks together. Once your index finger is close to the table's surface, quickly retreat it while keeping your other fingers pressing the stacks. It requires practice; I recommend getting 10 quality clay chips to practice at home or work. Work on it during commercials or whenever you have a few minutes, and soon you'll be shuffling chips with the finesse of a pro, instilling fear in other players.

anonymous

For individuals who sometimes find themselves losing more than they can handle, establishing some self-imposed limits might be beneficial. I’d recommend deciding on a maximum loss threshold—say, $200. Personally, I don’t apply strict limits to myself; when my losses start piling up, it no longer feels enjoyable, and I choose to walk away.

But for you, how do you define 'too much'? On various pages of your incredible website, you advise against relying on gut feelings. Yet, concerning losses, you suggest quitting when it becomes unpleasant. For video poker, I set a specific bankroll limit and cease playing as soon as I exhaust that amount. Losing is disheartening, whether it’s one credit or three hundred.

You are correct in noting that I don't specify much about managing funds. Unlike many gambling writers, I don’t focus heavily on how much to wager or when to exit a game. For the casual gambler, there’s no money management philosophy that significantly affects the house edge in the long term, so why emphasize it? Therefore, while I provide explicit advice on card play, how much you wager is entirely up to your discretion. There should always be some room for individual choices in gambling. However, I do believe that if your losses have reached a point where it’s no longer fun, it’s indeed time to step back.

I came across your review of casinos, and I’m interested in trying out Club Dice. On their site, they state that bonuses will be deducted from one’s account upon cashing out, even if the wagering requirements are fulfilled. What does this mean for the bonus?

Woloshen from Montreal

This situation refers to a 'sticky bonus', which is not exclusive to online casinos. When I visited Germany, I had to pay an entry fee of 20 Deutschmark. However, if I bought 100 Deutschmark worth of chips, they gifted me an additional 20 in sticky chips. A sticky bonus or sticky chip denotes money that cannot be cashed out. However, any winnings derived from betting these chips are legitimate cash. To clear sticky chips, one must keep betting them until they are lost. For online casinos, it involves cashing out winnings while leaving the sticky bonus in the account, then returning to play again.

During a recent visit to a casino in Miami Beach, I treated myself to a 100% promotion on a $1000 deposit. Ultimately, I lost $1650 and attempted to cash out the remaining $350; however, they denied my request, claiming the $1000 bonus was sticky. Consequently, I continued to play, cashing out whenever my balance exceeded $1000. In the end, I managed to withdraw 7 or 8 times, totaling around $4700.

Milton from Santa Fe

In the long haul, sticky bonuses essentially compel players to gamble more. The expected value of a sticky bonus is roughly 100% minus double the house edge in games with even money betting.

Can you elaborate on how to 'buy in' at a craps table? Do dealers only accept cash? If that’s the case, does it require me to arrive at the casino solely with cash for a large buy-in (which seems risky in Las Vegas)? What about traveler's checks? Is there a way to arrange for credit in advance with the casino Cashier's Office? Please provide specifics.

  • Free Food & Beverage
  • Free Lodging
  • One of those high roller suites
  • Free golf at Wynn
  • A new car
  • Free airfare.
Thank you.

Ed from New York

I recall my initial visit to a casino when I was clueless about how to obtain chips for my games; I bought them at the cage and brought them to the blackjack table. The correct procedure for buying in is simply to place your cash on the table, at which point the dealer will exchange it for chips. However, if you wish to play for amounts that are uncomfortable or unsafe to carry in cash, you can wire ahead funds to the casino. Then, when you arrive, simply ask the pit boss for chips, and you’ll need to sign a document that states you’re buying chips against your cash account. On a related note, I think it’s about time the U.S. Treasury considered producing $500 bills, making it simpler to transport large sums of money. At this time, a 500 Euro note exists, valued at $598 U.S. dollars.

I appreciate your website! I’m a loyal fan who only places bets on games that present a small house edge.

Thayer from Atlanta, GA

I was astonished to learn from the Nevada Gaming Control Board's website that in 2003, the casino's win percentage for baccarat was 19.62%, while for mini-baccarat, it was 13.81%. Why is there such a disparity when both games possess the same house edge? In contrast, nickel slots (often deemed to have a poor house edge) kept only 7.89% statewide! How can it be that slot machines (with a higher house edge) retain less than table games (with a lower house edge)?

Thank you for your kind words. You’re certainly not the only one puzzled by this distinction. The key lies in understanding the difference between the house advantage and the hold. The house advantage indicates the average percentage you can expect to lose on each dollar wagered. In contrast, the hold represents the proportion of money casinos win relative to the chips purchased. This hold is typically much higher than the house edge since, in table games, players tend to circulate the same chips over time. Thus, the baccarat figure indicates that the casino secured 19.62% of all money put into the box while returning 80.38% to players. On the other hand, the nickel slot figure reveals that the casino retained 7.89% of the total amount wagered, returning 92.11% to the players. To summarize, it’s a case of comparing apples to oranges.

First, thanks for the compliment on the site. During a recent trip to Harrah's, I was presented with the choice of either $100 in match play or $50 in slot play. In your opinion, which option is superior? (I chose the match play). When utilizing the match play, would it be more advantageous to wager the full $100 on a single hand or split it into multiple smaller bets, such as ten $10 hands? Thank you.

Michelle from South Amboy

Thanks for the kind words. I advise opting for the match play. The $100 offered for slot play was likely restricted to specific machines. Based on personal observations, I believe these free slot games tend to be very stingy, typically paying back around 25%. In comparison, that match play equates to approximately 48 cents on the dollar. I suggest placing it on the don’t pass in craps since this strategy tends to be more favorable than blackjack, which has a lower probability of winning and consequently decreases the value of the match play.

I work at a casino and have, in fact, banned individuals for various reasons. What’s the origin of this term?

Scott from Chicago

The term traces back to the eateries and soda shops of the 1920s. It originally referred to being out of a certain item, which then evolved into a phrase used to ask a customer to leave.

As a side note, in December 2004, another reader offered an alternative explanation.

Byron P. from Newington, CT

This term is said to have originated from a restaurant named Chumley’s, located at 86 Bedford Street in Greenwich Village, New York City. It initially served as a warning to patrons to vacate the premises due to the arrival of the police and later came to mean getting rid of something.

Hello, I wanted to express my appreciation for your website and pose a question. I recently returned from a trip to Las Vegas and observed that some individuals tend to wager excessively relative to their bankroll. For instance, some might join a $5 minimum roulette table with just $20. This significantly amplifies the house edge because losing the first four rounds results in the depletion of their bankroll, leaving them unable to continue playing. Based on the standard deviation of a $5 game, could you determine the minimum bankroll necessary to cover natural losing streaks 95% of the time? You’ve tackled something similar on your betting systems page by suggesting a limit on the maximum bet for a Martingale strategy. How does the house edge vary when a casual player begins with $20, $40, or another amount?

I appreciate your generous remarks. The house edge remains constant across all games as long as the rules are unchanged and the player's skill level stays the same. Factors like your bankroll and betting approach don't influence it. Even if I entered a $5 game with only $5 aiming for a staggering $1,000,000, the house advantage would still apply. My chances of achieving that are slim, but even in the worst-case scenarios, they pale in comparison to the best outcomes I might hope for. Kelly Criterion What is the likelihood of reaching both my target of winning $100 and the limit of losing $1000 if I bet flatly?

If we disregard the house edge, the odds of reaching the winning goal can be calculated by taking the loss limit and dividing it by the total of both the loss and the winning limit. So, in this instance, it would be 1000/(1000+100) = 1000/1100, equating to a 90.91% chance. However, the house edge will impact these probabilities depending on the specific game's edge and the amount wagered per hand; smaller bets generally lead to lower probabilities of winning.

John from Ellicott City, MD

Dear Wizard, I recall your advice to someone about learning how to shuffle poker chips. Thanks to your guidance, I’ve improved my shuffling skills significantly (though I must admit my poker skills could use work). I'd like to share a few additional tips.

Consider beginning your practice with a stack of just 6 chips instead of 10. Even those with less dexterity (like myself) will find it easier to grasp the technique.

Practicing on a hard surface can be quite challenging. It’s difficult to maneuver your fingers under the chip stack compared to a felt surface. If you can't access a casino table, try using something softer to practice on, like a mousepad or a folded newspaper.

David from New York City

Don’t forget to warm up your hands before you start shuffling, especially if you’re a beginner. The shuffling motion can place your fingers at awkward angles, and they’ll need some time to adjust.

Make it a goal to use both your hands effectively. Although it may be challenging to shuffle with your non-dominant hand, it will give you an edge and impress your fellow players by showing your versatility.

Linda from San Jose

Thank you! I never considered using my left hand.

When do you plan to address the topic of bad beat jackpots?

N = log(1 - DC)/ log(1 - p), where
I’m frequently asked about bad beat jackpots, maybe once each month. I do intend to add a section to my website when I find the time, but I hesitate because it might lead to questions about every single bad beat jackpot from poker rooms worldwide.
P = probability of the event
N = number of trials

Tony T. from Sydney, Australia

I participate in a weekly social poker game where one player insists that dealing 2, 3, or even 5 cards at once is just as random as dealing one at a time. I assume he would be correct if the deck had been shuffled 6 or 7 times. However, if we’ve just finished a hand and only shuffled a couple of times, dealing cards in bunches wouldn’t be random at all. What are your thoughts?bI share your view. If the cards are well shuffled, it shouldn't pose an issue. Nevertheless, if they are poorly shuffled, it’s best for the dealer to deal one card at a time to avoid any potential card clumps. 9/6 Jacks or Better I was exploring your site and came across the section about tipping. I have a few insights to share: I’ve generally found it effective to place my tip on top of my bet and let the dealer 'play with me' until I lose. Tipping often occurs during winning streaks, and over time, a $1 tip can accumulate to a larger sum for the dealers. Just be sure the dealer realizes that the extra chip atop your bet is for them! Thank you for all the informative content regarding various games!

I’ve observed this practice before and agree that some dealers appreciate it. However, in my experience, most dealers don’t particularly care since tips are typically pooled and shared among them. In my 18 years of playing blackjack, I’ve only once encountered a dealer requesting this.

.05 = (1-0.00002476)n
n
log(.05) = n × log(1-.00002476)
-1.301 = n × -0.000010753
n = 120,989

[Bluejay adds: I always consult dealers on their preferred tipping method. Some have specific likes and dislikes, with some appreciating the chip placed on top while others dislike it. I believe in giving dealers a choice, as asking about it helps to create a rapport with them by showing I value their preferences.]

Chrs from Chula Vista

What motivates people to gamble in the first place? Especially in casinos, where the odds are stacked against them? Does this behavior occur in other industries? What’s the underlying psychology? Is it just a desire for a windfall? Most players end up losing what they gain, so that can't be the entire reason. Do they simply want to socialize? That’s possible in a restaurant, too, so that’s likely not the motivation. The question remains—what compels individuals to make such risky choices? I work in a casino and notice the same familiar faces every day, often seeming devoid of enjoyment. If the objective isn't to have fun, what is it about losing money that proves so irresistible for some?

Gambling tends to appeal to people either as a source of excitement or due to a compulsion, so it’s worth exploring both sides.

Kaitlin from Preston

For those who genuinely enjoy gambling, it delivers thrills and a safe avenue for an adrenaline rush, similar to riding a roller coaster. For many informed players, the fun can come at a low cost. Although the experience feels more like a job for me now, I started out playing blackjack with basic strategies for about a year before shifting to card counting. Back then, betting $5 per hand under Atlantic City regulations, my expected loss was just 2 cents per hand, totaling around $1.20 an hour. That’s a minimal expense for the entertainment and complimentary drinks. Players who choose superior games and play them competently may argue that it’s indeed a small price for an enjoyable experience.

Some individuals, like yourself, genuinely don’t find gambling entertaining. That’s entirely reasonable, as not everyone enjoys the same activities. Just because some people are fans of baseball doesn't mean it resonates with every person.

Regarding compulsive gambling, psychologists categorize individuals into two groups: those seeking the thrill and those attempting to escape reality. The thrill seekers, predominantly men, typically flock to table games, while escapists, who are often women, lean toward slot machines and video poker. That's just my perspective. Keep in mind that the only psychology course I took was in high school, two decades ago (it’s hard to believe it’s been that long).

I’m curious about how much casino poker chips weigh. More importantly, do you have a suggestion for where to buy poker chips that are as close to real each in feel and sound when dropped?

The standard weight for poker chips is around 11.5 grams. Casino-grade chips are generally composed of a clay composite. Most chip sets share this weight, but of lesser quality materials that feel more akin to plastic. If you're seeking top-notch chips, your best bet would be to visit a casino and buy a large number of $1 craps or poker chips directly from the cage at their face value. If the casino changes the design or eventually closes, these chips may appreciate in value. That said, for casual use, there are numerous sets available on eBay for approximately $50 for 500 chips. Should you consider lower-tier chips, I suggest looking for actual Paulson chips (many knockoffs exist), which match the quality of casino chips. However, since Paulson no longer produces generic chips, the prices tend to be much higher. If you're facing prices close to $1 per chip, it may make more sense to simply purchase genuine casino chips. Nick Xenophon What’s the procedure for casinos when it comes to cashing out? For instance, if I hit a jackpot in the range of $10,000 to $15,000 playing Roulette or Blackjack, can I receive that payout via cashier's check or money order? After all, carrying a large amount of cash back to Canada isn’t advisable!

Most casinos typically allow you to receive large cash-out transactions in any form you prefer. But before you think of laundering by changing cash for checks, remember that casinos will ask for your Social Security number and will document any transactions of $10,000 or more.

If I place the maximum bet, am I still permitted to wager on the dealer’s behalf?

iamthepush

Casino 'comps' are typically calculated based on factors like average bet multiplied by hours played and the house edge (or something akin). Why do they track your buy-ins, re-buys, and color-outs if these factors shouldn't impact your comps? Is it genuinely based on theoretical losses, or is actual loss or win factored in?

  • Parenthesis (what is inside them)
  • Exponents
  • P.S. Your website is wonderful; thank you for bringing back the 'Ask the Wizard' feature.
  • Thank you for your kind words. I asked a pit boss about this, and he concurred that comps are generally derived from the average bet, hours played, and house edge. However, tracking buy-ins is a requirement to comply with government regulations, and different forms need to be completed when buy-ins surpass $3,000 and $10,000.

My wedding is scheduled for October. Since my fiancée and I are avid gamblers, we're opting for a honeymoon in Antigua at a resort that features a casino. Are there specific differences between gambling in the United States and that in the Caribbean? Also, do you think gambling serves as an aphrodisiac?

From what I've experienced in the Bahamas and Curacao, gambling there is quite similar to what you would find in the U.S. You shouldn't expect any significant changes in the rules. Blackjack, for instance, uses six decks, and the dealer hits on a soft 17. Winning while gambling can indeed heighten romantic feelings.

When I have a 4-hour layover in Las Vegas, what do you recommend as the best approach to double my $2000 bankroll? Should I focus on a particular game or make larger or smaller bets? Wizard of Vegas .

My first suggestion would be to take a taxi to the Hard Rock Casino, the nearest major casino to the airport. I'll share my insights on the odds allowed at the Hard Rock.

Doc

I appreciate the supportive comments. The advantage the house has remains consistent across all games as long as the rules and player skill levels are the same. Regardless of my bankroll or the betting strategy I choose, the house edge remains unchanged. So, even if I entered a $5 table with only $5 aiming to win a staggering $1,000,000, the house edge wouldn't waiver. Despite the slim chances of achieving that goal, the worst experience I can have at a casino is still far less daunting than the best possible outcome.

If I place a flat bet aiming to either win $100 or lose $1000, how likely am I to achieve both outcomes?

  1. Disregarding the house advantage, to calculate the chance of hitting the winning target, one would divide the loss amount by the sum of that loss amount and the winning target. Thus, for this scenario, it's 1000 divided by (1000 + 100), leading to 1000/1100, which equals approximately 90.91%. However, bear in mind that the actual house edge will lower this probability based on the type of game being played and how much is staked per hand; generally, smaller bets will yield a lower chance of success.
  2. Dear Wizard, you provided guidance to another user on how to shuffle poker chips (
  3. ). Thanks to your advice, I've noticeably improved my shuffling skills and gained a significant advantage (though my poker skills still leave much to be desired). I'd like to share some additional insights.

Consider beginning with a stack of just 6 chips rather than 10. Even those who lack dexterity (like myself) will find it simpler to master the technique.

13th of the Month by Day of the Week

Day Total
Sunday 687
Monday 685
Tuesday 685
Wednesday 687
Thursday 684
Friday 688
Saturday 684
Total 4,800

Practicing on a firm table can be quite challenging. It's more difficult to get your fingers under the stack compared to a felt surface. If you can't access a casino table outside of the gaming floor, try practicing on something soft, like a mousepad or a folded newspaper.

When I have a 4-hour layover in Las Vegas, what do you recommend as the best approach to double my $2000 bankroll? Should I focus on a particular game or make larger or smaller bets? Wizard of Vegas .

Make sure to warm up your hands prior to shuffling, especially if you're just starting out. Shuffling requires your fingers to adopt unusual positions, and it may take some time for them to adjust.

Moshe

Start using both hands for shuffling. It can be quite challenging when using your non-dominant hand, but being proficient with either hand can intimidate your opponents.

Thanks for suggesting that I give my left hand a try!

When will you provide insights on bad beat jackpots?

Match Play Expected Value

Game Bet Pays Probability Return
Baccarat Banker 1.9 0.506825 0.469792
Baccarat Player 2 0.493175 0.479526
Baccarat Tie 16 0.095156 0.617651
Craps Pass 2 0.492929 0.478788
Craps Don't pass 2 0.492987 0.478961
Craps Easy hop 30 0.055556 0.722222
Craps hard hop 60 0.027778 0.694444
Roulette 18 numbers 2 0.473684 0.421053
Roulette 12 numbers 4 0.315789 0.578947
Roulette Six numbers 10 0.157895 0.736842
Roulette Four numbers 16 0.105263 0.789474
Roulette Two numbers 34 0.052632 0.842105
Roulette Single number 70 0.026316 0.868421

I receive inquiries about bad beat jackpots about once a month. When time permits, I intend to create a section on my site dedicated to it. However, I'm mindful that this might lead to numerous questions regarding various jackpots around the globe.

anonymous

In my weekly social poker game, we have a player who argues that dealing multiple cards (2, 3, or even 5) to each participant is just as random as dealing one card at a time for each player. I suppose if a deck has been shuffled thoroughly (like 6 or 7 times, depending on whom you ask), then he could be right. However, if we've just concluded a hand and only shuffled a couple of times, distributing cards in groups or clusters wouldn’t be random. What’s your view on this?

I concur with you. If the cards have been adequately shuffled, the method of dealing wouldn't matter. Nevertheless, if they've been shuffled poorly, I believe the dealer should distribute the cards one at a time to prevent clumping.

As I was exploring your website, particularly the section on tipping, I had some thoughts to share. I’ve often found it effective to place my tip on top of my bet, allowing the dealer to 'play' alongside me until I inevitably lose. Typically, tips are given during winning streaks, and during an extended series of wins, a $1 tip can turn into a significant sum for the dealers. Just ensure the dealer understands that the extra chip on top of my bet is meant for them! I genuinely appreciate all the valuable insights you've provided on various games!

I've noticed this before and I agree some dealers appreciate it. However, in my experience, the majority don't mind because tips are pooled and divided among all staff members. After playing blackjack for 18 years, I've only once seen a dealer request a player to do this.

[Bluejay adds: I always inquire about dealers' preferred tipping methods, as different ones may have specific preferences. Some prefer the chip to be placed on top of the bet, while others dislike it. I believe in providing dealers with options; by simply asking, I build a small rapport with them, indicating that I care about their preferences.]

What drives people to gamble? Especially in a casino setting, where they are fully aware of the odds stacked against them? Can this phenomenon be observed in other businesses? What psychological factors are at play? The desire for something for nothing? No, they often don’t retain their winnings and usually end up losing even more; that doesn't seem plausible. Socializing? There are other venues for that, such as restaurants; it can't solely be that. So what is the real allure? I work at a casino and observe the same individuals daily, and many of them don’t even appear to be enjoying themselves, which contradicts the idea of having fun. In your opinion, what’s so compelling about losing money while ignoring one's own common sense?

EvenBob

Many gamble for either entertainment or due to a compulsion, and we should examine both motivations closely. 4,836,553 .

I believe that those who enjoy gambling find it thrilling and a controlled way to experience an adrenaline surge, quite similar to the sensation from a roller coaster ride. For seasoned gamblers, the entertainment can be reasonably inexpensive. Even though gambling resembles labor to me nowadays, I started with basic strategy blackjack for about a year before transitioning to card counting. While playing $5 per hand under Atlantic City’s conditions at a full table, the expected hourly loss is merely 2 cents per hand, equating to approximately $1.20 per hour. That’s a small price to pay for entertainment and complimentary beverages. Consequently, individuals who participate in better games while applying solid strategies can certainly justify it as a minimal cost for entertainment.

When I have a 4-hour layover in Las Vegas, what do you recommend as the best approach to double my $2000 bankroll? Should I focus on a particular game or make larger or smaller bets? Wizard of Vegas .

On the other hand, some individuals, like yourself, may not see the entertainment value in gambling. It’s perfectly reasonable, as not everyone enjoys every type of entertainment. Just because some people are passionate about baseball doesn’t imply everyone shares that enthusiasm.

cwwbjr

Regarding compulsive gambling, psychologists categorize compulsive gamblers into two main groups: those who are drawn to the action itself, and those who gamble as an escape from their realities. Action seekers are typically men who are attracted to table games, while escapists usually tend to be women who gravitate towards slot machines and video poker. That's my perspective on the matter. Please note that my psychological knowledge comes from a single semester in high school two decades ago (it’s surprising how much time has passed!).

I’m curious about the weight of casino poker chips. Additionally, do you know where I can find the best quality poker chips that replicate the feel and sound (especially when they are dropped) of real casino chips?

The standard weight for these chips is 11.5 grams, and authentic casino-quality chips are crafted from a clay composite material. Most poker chip sets share this weight, but the materials are often of lower quality, making them feel more like plastic. If you're seeking the best option, you could visit a casino and buy a significant number of $1 craps or poker chips directly from the cashier at face value. If the casino updates its chip design or ceases production, those chips may increase in value. For most recreational purposes, however, plenty of sets can be found on eBay for about $50 for a set of 500 chips. If you opt for generic chips, I recommend true Paulson chips (though many knock-offs exist); they are on par with casino chips in terms of quality. However, be aware that Paulson no longer produces generic chips, meaning the price might be substantially higher. If the price reaches around $1 per chip, which is often the case, I’d suggest simply purchasing actual casino chips instead.

Game Bet Edge Std. Dev. Confidence Level
90% 95% 97.5% 99%
Baccarat Banker 1.06% 0.93 12621 20791 29520 41588
Baccarat Player 1.24% 0.95 9741 16046 22783 32097
Baccarat Tie 14.36% 2.64 555 915 1299 1830
Blackjack Strip rules 0.28% 1.15 277046 456388 648001 912912
Casino War 2.88% 2.24 9935 16367 23238 32739
Craps Pass 1.41% 1.00 8259 13606 19318 27216
Craps Don't Pass 1.36% 0.99 8631 14219 20188 28442
Pai gow 1.50% 0.75 4106 6764 9604 13530
Pai gow poker 1.46% 0.75 4334 7140 10137 14281
Three Card Poker Ante 3.37% 1.64 3890 6407 9098 12817
Three Card Poker Pairplus 7.28% 2.85 2517 4146 5887 8294
Jacks or Better 9/6 0.46% 4.42 1589830 2649876 3782305 5348060
Jacks or Better 9/5 1.55% 4.42 142476 243815 350929 500032
Jacks or Better 8/5 2.70% 4.4 48094 84383 123102 176586
Jacks or Better 7/5 3.85% 4.38 25100 43688 64109 92533
Jacks or Better 6/5 5.00% 4.36 13754 26569 39923 58235


How do casinos handle payouts when you cash out? For instance, if I win between $10,000 and $15,000 in Roulette or Blackjack, can I receive the payout in the form of a cashier's check, money order, etc.? Certainly, one wouldn’t want to carry or drive back to Canada with a large amount of cash! Jacks or Better As far as I know, the majority of casinos allow you to request payouts in any form for substantial amounts. However, be aware that with cash transactions amounting to $10,000 or more, casinos are required to collect your Social Security number and document the transaction.

If I place the maximum bet, am I still allowed to make a separate bet for the dealer?

Casino benefits, often referred to as 'comps', are typically calculated based on an average bet multiplied by hours played and the house edge (or a similar formula). Therefore, why do they keep track of your buy-ins, re-buys, and the amount you cash out? None of these variables should influence your comps. Is it purely theoretical loss, or do real wins and losses influence this as well? Wizard of Vegas .

P.S. I think your website is fantastic, and I appreciate you reviving the 'Ask the Wizard' feature.

  • $2,000 cash
  • $4,000 non-negotiable chips
  • $6,000 non-negotiable chips
  • $8,000 cash
  • $10,000 cash


What would you choose and why?

babyyeespoppy

I appreciate the compliments. I posed this question to a pit boss, who initially confirmed that comps are generally derived from the product of the average bet, the duration played, and the house edge. The reasoning behind recording buy-ins is to comply with government regulations. Specific paperwork is required when buy-ins reach $3,000 or $10,000.

I'm getting married in October. My fiancé and I are avid gamblers, so we’re heading to Antigua for our honeymoon, staying at a resort with a casino. Are there significant differences in gambling practices between the United States and the Caribbean? Additionally, do you consider gambling to be an aphrodisiac?

Speaking specifically about the Bahamas and Curacao, gambling experiences there are comparable to those in the U.S. Don’t anticipate discovering any major rule variations. For example, blackjack is typically played with six decks, and dealers hit on a soft 17. Winning at gambling can indeed serve as a powerful aphrodisiac. Wizard of Vegas .

If I have a four-hour layover in Las Vegas, what would be the most effective strategy to double a $2000 bankroll? Which games should I play, and should I make large or small bets?

anonymous

My first suggestion would be to take a taxi to the Hard Rock, which is the nearest major casino from the airport. I'm unsure about their odds.

However, I would estimate around 3 to 5. If that's accurate, place a wager equivalent to 1/7 of your total funds on the don't pass line, roughly $275. Once a point is established, you should bet the maximum allowed on the odds, which is $1650. If you win, you’ll be significantly closer to your goal, though it varies depending on the point. Win or lose, always stake the lesser amount between 1/7 of your bankroll and 1/7 of the distance from $4000. If you get near either extreme, just go ahead and bet everything if you're low, or the amount needed to bridge the gap to $4000 if you're high, and forget about the odds altogether. You should have about four hours for this. Nevertheless, don’t waste time; security lines can be quite lengthy. If you’re at terminal C for your departure, make sure to inquire with an agent about the hidden entrance.

If you have an immediate family member who is addicted to gambling, in debt to numerous individuals, and unable to lead a normal life, is there any type of 'blacklist' or similar mechanism for barring them from accessing online gambling sites?

There probably should be, but I haven’t come across any such list. Even if one exists, it’s likely that the individual in question would need to voluntarily add their name to it. Reputable online casinos tend to maintain their own exclusion lists, and I've heard that some offer refunds for losses if evidence of treatment is provided.

What are the chances of a shuffled deck returning to its original order, whether through a completely random shuffle or a perfect riffle shuffle, and how many shuffles would it take? here .

The odds of a random shuffle yielding the original deck order is 1 in 52!, which translates to about 1 in 8.06582x10^67. However, performing a perfect shuffle where the last card is placed face down first means it would only take 8 shuffles to return to the starting position. If, alternatively, the 26th card is the one placed face down first, it will require 72 shuffles to revert back to the original arrangement.

Sam from Fountain Valley CA

Dear Wizard, you elaborate extensively on the odds and explain how they always favor the casino. Given this reality, what motivates people to gamble?

Top Five U.S. Casinos

Casino Location Square Feet
Winstar Thackerville, OK 519,000
Mohegan Sun Uncasville, Connecticut 364,000
Foxwoods Mashantucket, CT 344,000
San ManuelHighland CA 220,000
Riverwind Norman OK 216,000

What is the best game to play?

anonymous

Greetings! Your website is fantastic, and I truly appreciate your efforts. :) I am currently trying to determine risk of ruin statistics for different combinations of betting units and the number of hands played. At present, if the specific betting combination isn't reflected in your Risk of Ruin table in the blackjack appendix, I lack a precise percentage for risk of ruin. Would you be willing to share the formula with us? Thank you very much!

  • I appreciate it. I outline how I determine the risk of ruin in video poker in my article. However, when dealing with games where the betting amounts are inconsistent, the calculations become complex and often require computer simulations.
  • If I made a wager with someone, which was witnessed by three others, and we shook hands as a sign of agreement, is it legally considered a binding bet that must be honored?
  • video poker (9-6 jacks or better) — 0.46%
  • Ultimate Texas Hold 'Em — 0.53%

What is your favorite game?

anonymous

No, contracts based on unlawful debts cannot be enforced. While I’m not a legal expert, my understanding is that unless the law specifically allows betting on the specified wager, and the individual holding the bet has the proper license, there would be no legal remedy for the bet. This is exactly why I emphasize 'Honor thy gambling debts' as the foremost principle in my guide. A true gentleman upholds all his debts, especially those founded on integrity, like a wager made verbally or through a handshake.

The Bible references the casting of lots multiple times, most notably when they used lots to decide who would receive Jesus’ robe. Can you clarify what lots actually are and if they were utilized for gambling?

anonymous

My website manager, Michael Bluejay, wanted to provide his own explanation first:

Interestingly, drawing lots wasn’t their initial method for determining ownership of Jesus’ robe. They had considered drawing a horse instead but lacked the right color crayons. Eventually, they decided to draw whatever came to mind, leading to one drawing 'Carey' and another 'Barrymore.' This method quickly became inconsistent, so they chose to go with lots. The term 'lots' also implies abundance, hence why you often see 'Lots for Sale' signs and rarely see signs stating 'Only a Little Bit for Sale.' Reflecting on it, 'Big Lots' is somewhat redundant, akin to saying 'Abundant Abundance.' However, if companies can get away with terms like 'Pizza Pizza,' then it poses no issue. To answer your inquiry, lots were initially used in cow bingo—a betting game where people wagered on which square a cow would relieve itself in. Furthermore, lots represent the beginning of the concept of lottery.

anonymous

(sigh) Now that we’ve addressed that, I consulted my friend, Tom R. the 'Watchman on the Wall,' who possesses extensive biblically-related knowledge. He referred to various dictionaries and concluded that lots were not intended for gambling but for randomly selecting a name. This involved writing each name on separate pieces of wood or stone, placing them in a vessel, and randomly drawing one out. South Point .

I received a blackjack and was paid by the dealer. At the end of his turn, he revealed that he also had a blackjack, having overlooked checking his hand before disbursing my winnings. The supervisors insisted I return my earnings. I refused, remembering that I had read a similar scenario in a blackjack guide. Was I in the right?

anonymous

I believe you should have returned your winnings. Although I have never seen this discussed in literature, does a book really serve as the only guide? You have your conscience to rely on. You were prompted to rectify the situation, which is the honorable thing to do.

I really enjoy your site! I just came across your comprehensive overview of Blackjack tables in Las Vegas, highlighting their respective house edges. It got me thinking about two blackjack tables; one has a house edge of 0.2% with a minimum bet of $10, and the other has a 0.4% edge with a minimum of $5. Both tables result in a same $0.02 loss per hand. Is there any strategic advantage to picking one table over the other?

anonymous

Thank you for your question. To accurately address this, you first need to consider your motivation for gambling. If your goal is to minimize losses, perhaps you should abstain from playing entirely. However, if your intention is to enjoy the gambling experience, I would suggest opting for the $10 table with a 0.2% edge. Your expected loss remains consistent, yet you would feel a greater thrill with larger bets.

In blackjack, what average bet can I anticipate:

The rules are pretty simple:

  1. The standard formula for comps entails the casino returning a percentage based on your theoretical loss. This percentage may vary depending on the game; the greater the house advantage, the higher the percentage often is. A former manager of a Vegas casino informed me the typical comp rebate hovers around 15%. Other relevant factors include an average of 60 hands played per hour in blackjack, with an average house edge of 1%. Hence, the value of the comps you might anticipate would be calculated as follows: (average bet) × (hours played) × 60 × 1% × 15%. Assuming you play for 16 hours, you can extrapolate the necessary average bet. If we estimate that food and drinks equate to around $500, your average required bet would be 500/(16 × 60 × 0.01 × 0.15) = approximately $347. For a complimentary room valued at $1,000, your required average bet rises to $694. There’s a broad range of suites available, typically valued at between $1,000 to $10,000 per day, implying that an average bet of $1,389 to $13,889 would be necessary. If free golf is worth about $500, that brings us back to $347 for that benefit. I've heard anecdotes of Las Vegas casinos offering shopping sprees at Fashion Show mall, but they don’t sell cars there. If we factor in $2,000 for airfare, you’d return to an average bet of $1,389. At elevated levels of play, skill may also influence comps; the more skilled you are, the less you may receive. Casinos might also choose to be generous if you've encountered a rough streak. Additionally, when seeking rooms, your negotiating position is stronger if you request them during off-peak times when availability exists.
  2. Hey Wizard, I truly enjoy your site! My wife and I just returned from a trip to Vegas, where I observed a significant number of 6:5 Blackjack tables lining the strip. Thanks to your site and the many articles you’ve authored or referenced, we managed to avoid those tables completely. However, I did notice that most of them appeared nearly full, and I’m curious how long it may take for the 'naive masses' to learn about the detrimental implications of this subtle rule change. At first glance, these tables resemble the 'pitch game' my wife and I favor (which was only found downtown previously), and many people seem unaware of the edge they are surrendering. If we hadn't accessed your site, we might have assumed that the casinos were merely catering to customer preference for pitch games. Keep up your excellent work!

Can you help with a solution?

anonymous

Thanks for the feedback! I predict the number of 6 to 5 tables will continue to increase. One could ask similar questions concerning various games. Why do players choose 8/5 jacks or better video poker when 9/6 is available nearby? Why play double zero roulette when single zero is also an option in the same casino? Why do gamblers sometimes wager more than the minimum on the pass line in craps yet don't maximize their odds? While limitations on betting may play a role, it’s common to see people betting substantial amounts imprudently. In my opinion, many find it simpler to rely on luck and superstition rather than doing some research on the odds.

two not touch solved

Here is my solution (PDF).