Gambling Strategies: Don’t make the worst mistake of all!
Text books and web pages are teeming with strategic advice for gamblers. Do this. Don’t do that. Calculate odds and bet accordingly. There’s so much information out there, no one could possibly be expected to absorb and retain all of it.
That’s a good thing, because unfortunately, there is some very bad information circulating, especially on the web. The problem is that anyone can write and publish anything they want on a website. I could publish a shocking article claiming that as of tomorrow morning, the sun will begin rising in the west! That doesn’t make it true. But who’s to stop me from doing it?
Unfortunately, less experienced gamblers have a tendency to search the internet for information, and assume truth in whatever they find. And by far the worst gambling strategy I’ve come across has been regurgitated far too many times.
Worst Gambling Strategy Ever
The worst gambling strategy is so simple, you just might believe it. This strategy states that, any time you lose, just double your bet. If you lose again, double again. By the time you win, you’ll be up one betting unit.
Oh… my… gosh… why didn’t I think of that? Of course! Just keep doubling and you’ll always win. It’s so easy, I can’t believe casinos don’t do something to prevent it.
Um, wait a second. That’s a good question. Why don’t casinos prevent this? Because they’re obviously smarter than the people who think this is a good gambling strategy!
Casinos actually do have a system in place, not to prevent players from doubling on losses, but to prevent them from profiting from it. It’s called ‘minimum – maximum table stakes‘.
If you play a baccarat or roulette table with $1-$100 stakes, you will eventually be unable to double your bet. Even if you start at $1, after your sixth consecutive loss, you’ll need to wager $128. At this point, you’ve already lost $127, and now the table stakes prevent you from going on.
Do you move to a new table with $5-$500 stakes? You could, but let’s remember, you’ve already lost 6 straight bets and $127. Once you bet $128, another loss with result in a $256 bet. That’s another amount you won’t be permitted to double ($512) should you lose.
Betting System Gambling Strategies Don’t Work
Betting systems of any kind are inherently flawed. That’s because no player is going to be happy to walk away after a $1 win. They will continue using this or some other betting strategy, wagering potentially hundreds of dollars to earn just $1 more with each win.
Eventually, the casino’s house edge will catch up. You will lose 8 in a row. When it happens, you’ll have lost much more than you could possibly have gained. Casinos know this, and that’s why they allow it, applying limits to ensure they always come out on top in the end.
Chasing losses is never, ever a good idea. A much better strategy is to manage your bankroll properly, accept gambling for the entertainment value that it provides, and if only employ genuinely effective betting strategies.
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