Sunday, October 19, 2008

The Nine Rules of Gambling

When you are going to gamble, remember these nine "rules"... I dare not say commandments, as gambling and religion have nothing in common.

  1. Budget your gambling experience. Set yourself up to spend an amount of money that you can afford, and leave your banking card, visa cards, etc. somewhere where it is not easy to access. If you are a conservative gambler, lock in your winnings.
  2. Budget your gambling time. Make sure that you leave around the time that you plan to. If you lose all of your money early, have a contingency plan to do something else. Build in time for breaks and meals.
  3. Know how to play the games. The casino builds in an automatic house edge to every game. Learn how to play the games before entering the casino. The way that you play affects the house edge. I am going to recommend the site Wizard of Odds to everyone. It has detailed strategies for every single table game that Ontario's casinos have to offer. Study the house edge and betting strategies carefully. Print out a gambling card (you can use them at the tables). This will minimize your errors and maximizes your chances to come out ahead.
  4. Expect to lose. None of Ontario's casinos offer any game where the player has the advantage. That said, there are games that are way worse than others. Table Games come in two classes: Blackjack, Craps (with proper bets), Bacarrat; and everything else.
  5. Tip. While the dealers in Ontario are paid decent, unionized wages, you should be tipping based on the time that you play and the amount you win. Generally, you should be tipping a couple of bucks per hour in general and should tip 1 to 2% of your winnings overall. But this is up to you. Make sure you tip your servers well. You will get much better service when you tip. Tips are distributed among all dealers at the casino.
  6. Be courteous. There is absolutely NO reason to take out your losing on the dealers. They are simply dealing cards. They want you to win because winners tip more. Harmless ribbing is okay. Remember that if you are losing and don't like the table, you can get up and leave. The dealer can't. If you are playing a game where other players can dictate the outcome (Blackjack, Craps), don't get mad at the player for doing a boneheaded move... over the long run, it doesn't help nor hinder you.
  7. Avoid the side bet. Most side bets at casinos are bad ones. The Caribbean Stud bonus is a famous one -- the house makes 29% of every dollar spent on the bonus. Let it Ride's bonus is 23%. The blackjack side feature a 12.5% advantage for super sevens, 3.2% for the streak (4 is the best streak), 25% on the lucky ladies, and 4% on perfect pairs. The Fortune Pai Gow bonus house edge's is 7.8%. Betting anywhere in the centre in craps has an advantage of 9-11%. If you must play the side bet, know the house advantage and try to play the minimum amount possible.
  8. Do not use a system. They don't work. Period. Your best chances of winning are to look at the math and bet accordingly.
  9. Have fun! If you are at the casino and am not enjoying yourself, leave. If you are at the casino expecting to win, you are not there for the right reason. Most casual gamblers go for entertainment, to see people, and to have fun. If you find yourself at the casino for other reasons, you might have a problem or an addiction. Get help for that addiction before it becomes too serious.

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