Casino Gambling Advice
From Adviceopedia
Both new gamblers and high rollers should seek out casino gambling advice before hitting the tables to help reduce the risk. Even though a lot of it is luck, skill and casino knowledge still can make a difference in your winnings and losings.
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Casino Gambling Advice
Casino gambling can be a fun way to pass some time, make you feel like you're living a James Bond movie, or it can be an expensive and destructive addiction. Having some knowledge of when to hold and when to fold can help keep it on the fun side.
Key Casino Gambling Advice: The House Always Wins
The most important thing to remember is the old saying that the house always wins. Gamers' losses paid for everything around you in the casino. Remember that the term for playing with money you've won is “playing with house money” and that can mean just as much that the house will get it back as that it was theirs to start with. Think of it like any other form of entertainment: You pay to get in.
Casino Gambling Terms
Action: The amount of money you have “in action” over a gaming session. This is not the same as the money you have in play at one time, but rather, the cumulative amount. If you play a roulette wheel once with a ten dollar stake and win fifteen, your action so far is $10. If you play again with that $25 and lose, your action so far is $35.
Bankroll: Total amount of money you have for gambling
Cage: Heavily secured area where financial transactions such as paying for or cashing chips take place
Checks: Dealer term for chips
Chips: Tokens representing a certain amount of money, each chip is designated a specific amount
Cracking the nut: Reaching the point where your winnings cover all your losses plus any expenses such as travel and lodging.
House edge: The extent to which the odds favor the house, also known as casino advantage, casino edge, vig, or vigorish
Playing with house money: Playing with money you've won
Asking for Freebies
Casinos regularly give perks, or comps, such as free lodging, meals, or beverages to their most profitable players. The threshold amount, which is usually based on your action, varies based on the casino. Most casinos will offer you a comp to keep you returning. A modest comp, such as a meal, can happen after you've had a few hundred dollars in action, while at others, it takes thousands or tens of thousands. The bigger the casino, the more “expensive” the comp will be, often including a room or suite.
If you're a generous tipper, you're more likely to get a comp, but it doesn't guarantee you anything. Each casino has their own policy.
When to Hold 'Em and When to Fold 'Em
Just like the stock market, you can avoid losing your head and your wallet if you set personal stop orders. Set a budget for gambling and don't gamble any more after you've either gained or won a specific amount.
You can also hold aside a certain amount of your winnings. This way, every time you're up, say, $50, you put aside $25. Give this money to somebody you trust to hold for you or put it in a win bank.
When casino gamblers get into the most trouble, it often happens when they lose their designated money and then continue gambling (often increasing amounts) to try to get it back. This can become a bigger problem if you're playing games involving skill because the more focused you are on making up your gambling loss, the less likely you are to play well.
This strategy will keep you from experiencing the kinds of losses you can't afford.
Strategies to Help Minimize Your Lose
Though you can not guarantee winning, you can use the following strategies to help you minimize losing more then you can afford.
- Win bank. This will remind you of your piggy bank, a kind of locked box you can put your money into after you win. If you leave the key at home, that makes it extra certain that you won't give in to temptation.
- Don't drink and gamble. Alcohol lowers inhibitions so it increases your chances of making reckless decisions.
- Remember that chips and credits are money. Just like it's easier to get into spending trouble by paying with a credit card, it's easy to get into gambling trouble with chips. They don't look like money. Don't buy all your chips or machine credits at once, but convert your cash to chips over the course of your day or evening.
- Have a friend keep an eye on you and let you know if they think you should take a break, put aside your winnings, or stop.
Games With the Best Odds
In almost all casinos, the slot machines have the worst payout ratio. Blackjack and video poker typically have better odds.
Games such as poker, where you're playing against other players, have varying odds which depend on luck and skill. The house's take comes from a percentage of the bets, winnings, or a table fee, depending on house policy.
If You Have a Gambling Problem
If you have a gambling problem, the best piece of valid casino gambling advice anyone can offer is: Stop and seek help. You can find help from Gamblers Anonymous or the National Council on Problem Gambling.
Some ways to tell if you might have a casino gambling problem are:
- Do you feel anxious when you can't gamble or feel as though gambling will help you calm down from anxiety?
- Have others told you they think you have a problem?
- Have you spent more than you expected to or budgeted? More than once?
- Have you lost money you can't afford to lose?
- Do you depend on winning big at gambling to solve financial problems?
- Do you spend a lot of time thinking about gambling?
