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How Players Lose Their Money To Casinos

Most casino games are game of chance where both casinos and players have equal chance of winning. But, the fact shows that the casinos are the winner in the long runs. Most players will lose their money back to casino no matter how much he/she wins previously. What actually make the players lose their money to casinos in the long runs? Here are the 3 key factors that cause most players lose their money at the end: house edge, maximum limit and psychology factor.

The House Edge

Like other business, casinos need to ensure they make sufficient profit from their gambling business. That’s why casinos need to have slightly better winning edge compare to players. The mathematical advantage of casino against its players is known as “the house edge”. Casinos place the house edge on each type of games, for example in European Roulette game: it adds a “0” on the wheel making the betting on Big/Small, Odd/Even and Black/Red have a house edge of 2.78%, which means in the long run, the casino will win the 2.78% of the money kubet casino on Big/Small, Odd/Even and Black/Red in Roulette game. If you play on game which has house edge of 5.56% versus 2.78%, meaning that you will lose your money twice as fast as in the second one. Now you know why you lose the money faster in certain games than others?

Maximum Limit

In any casino games, it is very common to have runs of 5, 6 or even 15 consecutive outcomes of black or red, high or low, even or odd; but it does not happen in any casino in the earth to have 50 consecutive equal outcomes. This means that if the casino did not place a maximum betting limit and the player has sufficient money to double his/her betting every time he/she lose, the player will wins back his/her money plus one chip. That’s why the casino protects itself from rich players who play with this strategy by introducing maximum limit on all casino games. If the player keeps double up the betting, he/she will lose money if the outcomes continue turn up to the opposite results and finally hit the maximum limit.

Psychology Factor

Do you notice that most players who win money want to win more; they will continue to stay at table until they lose all their money. The same situation happen on the players who lose money, they will try to cover the money lost by betting more until they lose all money they have in hand. This is the psychology factor that makes the casinos continue to be the winner at long run. The casino won’t fear even you win big money because they know they will get back your winnings plus your money in the long run.

There are many betting strategies that published on various e-books that teach the player how to win money from casino. Theoretically the strategies will work if the player smartly implements the strategies. But the fact shows that most players will turn greedy when they win and forget about their strategies; what they want is continue win and win big. That’s why they forget about the strategies, and bet based on their greedy behavior. This is how most players lose money to casino in the long runs.

Summary

Players lose their money to casinos due to the 3 key factors: house edge, maximum limit and psychology factor. The “house edge” and “maximum limit” are preset by casinos to protect their advantage and you can’t change them. But, if you want to make some winnings from casinos, then you need to work on “psychology factor” by staying with your betting strategies and controlling your greedy behavior.

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Craps Bets – Good Versus Bad

Be smart, play smart, and learn how to play craps the right way!

In terms of affecting a craps decision, there’s no such thing as a skilled craps player.  However, there are knowledgeable and ignorant players.  Although no one (not even the shysters who claim to have mastered the scam known as “dice control” or “dice setting”) can skillfully affect a craps decision, your amount of knowledge can play a big factor in whether you lose a lot quickly or lose a little slowly, or maybe even occasionally win.  Let’s not kid ourselves.  Casinos are in business to make money, not gamble.  The player is the gambler, not the casino.  The casino has their built-in house advantage, so over time, they know they’ll rake in the money.

You must accept the fact that craps is a negative expectation kubet casino because of the built-in house advantage.  “Negative expectation” means the game will result in you eventually losing all of your money.  You may experience shorts periods of winning, but over time, you’re guaranteed to lose.  Let’s illustrate this by using a coin-flip example.

For each flip, you have a 50/50 chance of the coin showing heads and a 50/50 chance of showing tails.  A 50/50 payoff means you expect true odds of 1:1 (i.e., if you bet $1 and win, then you win $1).  However, the casino doesn’t offer true odds on any craps bet except the Free Odds on the point.  The casino is in business to make money so it has to have an edge to make a profit.  It gets its edge by offering odds that are less than true (sometimes called “casino odds”).  In the coin-flip example, suppose you flip coins with your best friend.  For each $1 bet that your friend loses, he pays you $1.  However, if you flip coins against the casino, for each $1 bet that the casino loses, the casino won’t pay you $1.  Instead, it might pay only $0.96.  So, for every bet that you lose, you have to pay $1; but for every bet that the casino loses, it only pays $0.96.  It’s easy to see that you’re playing a negative expectation game and, over time, you’ll go broke.  Each bet on the craps table, except the Free Odds bet, has built-in “casino odds” that allow the casino to pay less than true odds when the player wins a bet.  Because the casino pays out less than it should when the player wins a bet, the casino will eventually take all your money if you play for a long enough period of time.

How long will it take you to go broke playing craps?  That depends on whether you make bets with high or low house advantages.  Of course, your bet amount is a big factor in how fast you’ll lose your bankroll, but let’s focus on “good” versus “bad” bets.  For example, if you make only Big 6 bets that have a 9% house advantage, you can expect to lose an average of $0.90 for every $10 bet.  If you make only Pass Line bets that have a 1.4% house advantage, you can expect to lose an average of about $0.14 for every $10 bet.  Of the two, which do you think is the “good” bet and “bad” bet in terms of the player?  I don’t know about you, but I’d rather lose an average of only 14 cents per bet than an average of 90 cents per bet.  Wouldn’t you?  That’s why it’s so important to play good bets and avoid bad ones.  Obviously, if you consistently play bad bets (relatively high house advantages), you’ll go broke a lot faster than if you play good ones (relatively low house advantages).

If you’re going to play craps, you must know which bets are good and which are bad in terms of the player.  It’s not difficult, so don’t fear the numbers.  So, which bets are considered “good” and “bad” for the player?  That’s the subject on another article!

Now you know!  Remember, learn how to play craps the right way.

Bill Enslen is a reliability engineer who routinely works with statistics. Having played and analyzed casino craps [http://www.learnthesecrettocraps.com/] for 30 years, he has compiled his winning secrets in a new ebook, The Secret to Craps: The Right Way to Play. He doesn’t offer false hope or prey on your blazing desire to beat the casino. Instead, he explains the reality of the game and how to optimize your fun without losing your shirt. Without fully understanding the game and the truth behind the numbers, you’re vulnerable to believing bizarre claims that you can consistently beat the casino.