The Right Way To Gamble - Online Or In A Live Casino
If you expect me to depict some intricate casino "strategies" that will help you fleece the house and which will guarantee you profits when gambling, you've come to the wrong place. The reason I'm not going to waste your time with such drivel is because simply put, such systems do not exist. What I want to tell you about though is the difference between the right and wrong state of mind when gambling.
The right way to view gambling is to see it as a sort of a service, for which you pay money. It is essentially entertainment, as it is well capable of generating massive flows of adrenaline in gamblers, so in that respect it is essentially the same as an amusement park ride: you pay for your kicks.
The wrong way to see gambling is to view it as a potential source of revenue, something from which you could and should squeeze money from. Gambling is not that, despite what problem gamblers and some casino ad campaigns will have you believe. He who gambles with the goal of making money is setting himself up for disappointment, simply because of the way the mathematics of casino gambling work.
The casino is far from being a charity organization. The last thing it wants is to give money away. It is essentially an enterprise the goal of which is to make money while providing entertainment for gamblers.
The way the casino goes about making its money is through the house edge. Yes, the games are mathematically "rigged" to favor the house. While this house edge isn't a particularly intimidating one (on some slots it can be as little as 1%) it is there and it serves the purpose of igniting the house drop.
The house drop is the real enemy of the gambler (from a financial perspective of course) and it's much bigger than the house edge as it averages out at about 30%. The house drop is a pretty sneaky opponent, one that even some of the more experienced gamblers have trouble understanding. The house drop is essentially triggered by the house edge, and it manifests as an ever-increasing edge for the house, which becomes bigger and bigger with every bet the gambler makes.
Proving the way the house drop works is a rather simple exercise: assume a player walks into a casino with $10, aiming to make ten $1 bets on a game on which the house edge is 5%. Following the 10 bets, the loss is 5% so it's 50 cents. If he decides to stay though and makes 10 more bets, he’ll lose 50 cents more, so his loses will total $1, which is 10% of his initial roll. The more he bets, the higher this percentage will go.
Now that you understand how casino gambling works and what you're supposed to achieve through it, you'll be able to gamble from a much better intellectual position. Yes, you may win and you may win big due to the short-term variance, but over the long-run, the mathematics of the situation is the one detailed above.
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