Gambling Strategy Guide / Tips :

About The Author Michael Shackleford is known as "The Wizard of Odds", due to his mathematical analysis of many games of chance. If you are willing to learn and want to maximize your odds, then visit his website at www.thewizardofodds.com

10 Commandments of Gambling

Wizard of Odds Tips from Michael Shackleford, A.S.A.

1. Be realistic, the casinos have the rules in their favor. If you lose, expect it.

2. Don't rely on hunches. Always make the mathematically best decision.

I have met numerous other players who disagree with me on this one, and they are all wrong. On the players side is the unlimited use of ESP and other psychic powers. The casinos have the mathematical odds on their side. Who always wins in the long run?

3. Although you will lose in the long run your money will go up and down like a roller coaster in the short run.

 

The rare exception to this commandment is that very good blackjack card counters and video poker players can gain a long term edge. Poker and sports betting may also be beat but I do not consider them "casino" gambling because they are not played against the casino but against other players.

 

4. In general the harder a game is to understand the smaller the house edge is if you play it correctly.

 

Your best bets are the more complicated games of blackjack, craps, baccarat, and video poker, assuming you play them wisely. Your worst bets are the simple games of pure chance like keno, roulette, and the wheel of fortune.

 

5. Don't bet money you can't afford to lose. Set a limit on your losses for both a table sitting and the duration of your trip.

6. Bet conservatively. Your money will last longer this way as opposed to betting wildly.

7. There is no system that can beat a game of pure chance.

There are plenty of charlatans promising systems that can beat games of luck like roulette, craps, and even the lottery. Most systems trade a lot of small wins for a few huge losses. In the long run it is impossible to beat the house at games of chance only.

8. In some games, especially blackjack and video poker, it pays to shop around and look for the best possible playing conditions.

In blackjack and video poker rules can vary from one casino to another and one state to another. It pays to know what rules are favorable to the player and to seek them out.

9. Avoid the side bets.

 

Games like Caribbean stud poker, let it ride, and blackjack often offer a side bet. These bets are designed to appear like a good bet to amateurs but are actually very bad bets. Unless told otherwise by myself or another trustworthy source you should avoid them.

10. Have fun.

Don't forget that gambling is supposed to be a recreational activity. Like many things, what is enjoyable in moderation can be disastrous in excess. If you lose the ability to walk away from the table or machine at will then you shouldn't play at all.

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