For the majority going through school, the math classes are a form of slow torture. All these tiresome problems to solve and never any obvious relevance to real-world situations. Except, of course, that the theory of probabilities gives you everything you need to know about how to bet effectively. Once you can work out the odds on any given event occurring, you are ahead of the game when it comes to winning. In a sense, gambling is the application of science. But this slightly breaks down because knowing the odds does not guarantee you will win. The actual result of the event is still determined by events outside your ability to control. Whether you win is a matter of luck. So we might conclude that gambling in general is a mixture of science and intangibles like intuition.
The world never stands still too long. If it does, this may mean it's dying and has nowhere else to go. The eternal question for every business lucky enough to hit a winning formula is whether to change it and, if so, by how much and how quickly. In one shape or form, casinos have been around for centuries. They were gambling in Ancient China and Rome long before anyone thought of building in the Nevada desert. Yet, the basic idea has remained the same. If your luck is in, a small bet will win you a fortune. It's a remarkably seductive temptation. Just think. All you need is for the dice to fall just so, or the next card to be the 8. The games may change their appearance, but the principle of betting on the outcome of random events remains the same. To that extent, gambling never changes and probably never will change significantly. If there is change,
Well, the inevitable has begun to happen. When the recession first hit and credit dried up, everyone predicted the casinos would lose out. If the banks squeeze credit, people cannot maintain their levels of discretionary spending and, sadly, gambling is always going to be one of the choices made less often. The prediction then ran on: if fewer people go into casinos and those that do go spend less, the casinos will find their profits under pressure. At this point, the forecasters would take a deep breath. This will not be a problem so long as the casinos hold their nerve. The economy will slowly pick up. Confidence will return as consumers save less and spend more. In three to five years time, casino revenues will be back to their normal levels. But, and this is where the forecasters would look grim, if the casinos try to suck extra dollars of profit out of fewer players, they risk killing the golden goose. So which way have casinos played their hands?
Max is the author of Comp City, first published in 1994, with an expanded second edition published in 2002. In this groundbreaking book, Max exposed techniques even non-counting players could use to get an advantage over the casinos by exploiting weaknesses in the casinos' comp systems. Max's inside information came from his years of experience in the industry as a dealer, pit boss, and casino manager. Max still does consulting work for the Barona Casino in California.
Lawrence Revere was both an author and a serious player. He died in 1977. His only book, Playing Blackjack as a Business, initially published in 1969, is still in print. If you look at the "true count" methods being employed pre-Revere, you will see why Revere was inducted into the hall of fame. The earlier methods were cumbersome and mentally fatiguing to use. In the second edition of Beat the Dealer, in which Thorp first proposed the Hi-Lo
When you look at the welcome bonus and all the other benefits from joining an online casino, playing online has real advantages over the real world alternatives. Because the virtual operation does not need a major building and significant number of people to run the games, all that saving can go into financial benefits for members. If you play regularly enough and qualify for VIP membership, you can find the casino more financially generous than through the real world comps. Nevertheless, you still need to play smart to give yourself the best chance of winning more than you lose.
There's one game that will forever be associated with casinos - it's not called the "king of casino games" for nothing. The reason? Perhaps it's the simplicity. Someone spins the wheel, releases the ball, "Where will it fall? No-one knows!" There's the noise as the ball is thrown against the direction of spin. It rolls
Subscribe to:
Posts (Atom)