However one such popular way is to bet on even chances and only use a percentage of your stake. Say $1 if you started with $20. But instead of doubling up your stake if you lose you only increase your stakes if you win. If you went onto a winning streak straight away then you can actually amass considerable winnings. Let us say that you bet $1 and won and so now you have $2 and a total of $21. Let us also say that you actually win 8 times on the trot. Spin number two and you wager $2 and so win another $2 and thus taking your stack to $23.
Spin three and you bet the $3 profit and win again and now you have $26.

The same with spin number four and now you have $32. On spin number five then you decide that you are going to “bank” some of your money and so you risk $6 and that wins and now your stack is at $38. You decide to risk $12 of your profit on spin six and that wins and now you are up to $50. You have $30 profits after six spins and your maximum downside was only $1.

Blackjack is no different and in many ways is far worse because the variance in blackjack is very severe and is akin to limit hold’em in severity. Although what can be far worse in limit is that you can end up having played many escalated pots to only then find out that your opponent was better than you and that you were getting outplayed. This can never happen of course in blackjack as you can never be outplayed by the dealer. The most that the dealer can do to thwart a card counter is to maybe only cut half the shoe but that is about all.

They could maybe count along to see if the counter is upping their bets during high counts but that is about it. They cannot alter the rules of the game and so cannot stand or take cards differently to 17. But sitting back and acting as if you are merely observing someone else commit the process of risking money is a good way to proceed. This all assumes of course that you have a good winning game plan to begin with.

Well it is clear that they are very important in both games but the most important thing to remember here is in how the best mathematicians who have gone into both games with their maths knowledge and little else have fared badly. In blackjack then these players were bounced out of Las Vegas in the 70’s and 80’s with alarming frequency.

To be a skilled poker player or a blackjack player for that matter involves many different things. Now this isn’t a discussion about tells or anything like that as that is too broad a subject. In blackjack and poker then there are many different skills that are required to make progress or a living from the game. It is skills like evading detection, understanding casino psychology, bankroll management and attitude to risk that dictate how well you will do.

But also it is the ability to be able to adapt to a changing environment as well that ultimately defines your chances of survival in the long term. I think that the two biggest metrics far and above all others are dollars won and time played. Each on their own is largely insignificant.

So then it means that weak players would only ever play against weak players and strong players would only ever play against each other in what would be high variance play even for the better player. So for me then for a gambling game to be high ranking then it has to be two things…….a skill based game and also a luck based game in equal measure.

If the game is pure luck like say roulette then the result is known in the long term…….the house wins. If the game is pure skill like Chess then the result is also known (if not by the weaker player). But for a game to have perfect balance means that skill will overcome eventually and a game needs that balance otherwise it ceases to grab the imagination in many instances. This is why games like poker, blackjack and backgammon are so popular. All these games have a huge luck element but all of them have a big skill element as well.

The entire episode was actually pretty funny because I doubled the bet up from £5 all the way to £80 before I stopped. I like the thought of spinning up small amounts of money as I often do it in poker. But you can try to do this in roulette as well and you can do it for as little as $5 if you are selective about which tables you can do it with. Buying in for the table minimum stakes allows players to play roulette with little or no stress of losing and at the end of the day……casino games should be about entertainment and having fun for the least amount of money possible.

It simply doesn’t make economic or financial sense. Anyone can make $40/hr playing poker; you simply have to resort to doing simple things and stop trying to be a big shot. Trust me because I have been down the road of trying to be a big shot once and it does you little good. You just end up being spoon fed your own ass by players who are more dedicated than what you are. It is better to play lower levels and simply milk the really terrible players.

If you can make $4/hr per table and you play ten tables then $40/hr is above most people’s earn rate in their day jobs. That is $80,000 per year and not many people have that sort of income. So stop trying to be a big shot (assuming that you are) and get real about your poker and you may just find that the road to playing for a living is nearer than what you think.

But when you play poker then you are attempting to do one thing and that is to implement your system of operation. It is of little use getting nervous even though nerves are all part of parcel of the expectant result process because the EV of your system is already known…..although probably not to you. It is a bit like the manager of a very successful football team like Pep Guardiola at Barcelona for example. He may get nervous in individual matches because of the lack of knowledge in what the short term result may be. But in terms of what he expects from his team then he will not be nervous about whether they perform to their highest level or not because he knows that they will.

If you like the thought of the spinning reels then fruit machines and jackpot machines may be your thing. There are more than enough avenues for people to experience whatever they want to experience inside a casino and the answer to the question is that it rather depends on what you are looking for. This is before we even look at areas like poker which has really took off over the past few years.

Many people want to play poker now and that is being used as a way of getting people into casinos. I have seen many casinos over the past few months advertise the fact that they have poker tables inside their club on the outside of the building in big letters. This is smart adverting because it is using the advertising budgets of other companies to their own uses.

But this only supposes that the player is using accurate basic strategy but most do not and so many players are losing somewhere in the region of between 1%-2% with the very worst players conceding around 2.5-3% in edge! Let us say that the mean average was 2% which means that the casino takes 2% per player per bet over the long haul. Now we need to ascertain just how much money is being put across the blackjack tables in total action. Remember this is not the figure that the total population have in their pockets but total action.

Remember that one player betting $20 per hand and seeing 50 hands per hour would generate $1000/hour in action. So for a large casino then it would be easy for that casino to show total action of well into seven figures per week if just one small player could produce $1000 in action in just one single hour of play. Imagine a casino that produced $5 million per week in total action and it made 2% on that figure. Taking into account the fluctuations then it would make $100,000/week or $5.2 million per year just from its blackjack operation alone…….why should they cheat?

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