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Re: I don't get it.
Posted By: Dave, on host 65.116.226.199
Date: Tuesday, November 15, 2005, at 17:38:55
In Reply To: Re: I don't get it. posted by daniel78 on Sunday, November 13, 2005, at 11:09:44:

> Whoever got the idea for modern casinos was a
>student of psychology. A random, occasional
>payoff is one of the biggest motivators possible.

This is pretty much spot on, coupled with what you said below about people having a poor grasp of probability. But slots especially are designed to give random, inconsistent payoffs to keep people playing. A rat who gets a food pellet every time he presses a button will eventually only press the button when hungry. A rat who never gets a food pellet from pressing a button will eventually stop pressing the button entirely. But a rat who sometimes gets a food pellet and sometimes doesn't after pressing a button will press that button for most of his waking life. It's a strong psychological urge. Slots are flashy, noisy, and garrish to get your attention in the hopes that you'll sit down and put some money in. Once you do that, they hope the psychological trick of the random payout will keep you playing. Of course, the machines are designed in their favor, so over a long enough time you will lose.

Generally speaking, any game in a casino is rigged in the house's favor, and is impossible to win over time. You might make an occaisional lucky score, and you might have a week or two week long run where it seems like you can't lose. But if you keep playing, you *will* lose, because the casinos have math on their side. If they're paying you 2-1 on a 3-1 shot, they win. You might win four times in a row, quadruple your money, and walk away a winner--but they're counting on your greediness or your sense of "I'm lucky, I can't lose!" to keep playing, because if you do, the math will grind you down eventually.

There are a few games in most casinos that are "beatable". Standard payout blackjack (natural blackjack pays 3:2) is beatable if you know basic strategy, how to count cards, and how to manipulate your bets as the count changes. It takes tons of concentration and some math skills, and the ability to do all this while looking like a "normal" fun-loving blackjack player, because if the casinos catch you counting cards, they'll kick you out (it's not illegal, at least in Vegas, to count cards at the blackjack table--however, the casinos have the right to refuse your business, and if they suspect you have an edge over them, that's exactly what they'll do.) Poker played against other players rather than against the house is beatable. The house makes their money by taking a cut of every pot, so they don't have to rig the game in their favor--they get paid every time regardless. Believe it or not, certain slot machines are actually beatable--some progressive slots, if played at the right time (and again, it takes some math skills, and a knowledge of the payout probabilities of the machine to figure out when to play) can actually turn a long-term profit. And certain Video Poker machines have profitable payout schedules if played with perfect strategy (same disclaimer--you have to know which payout schedules are profitable, and play with absolutely flawless strategy, and still your advantage over the house will generally be only a fraction of a percent.)

There are certain games that people *think* can be profitable, but never are. The biggest one is craps. If you know only one thing about casino table games, know this: You can't win at craps. Full stop. Don't listen to anybody who says they have a "system" for craps. They probably will proceed to tell you something like "Just bet on the pass line, and double your bet every time you lose!" or some other variation of the Martingale system. It doesn't work. Don't listen. The link below has the actual math if you don't believe me. If math is not your thing think on this: Do you have infinite money? And even if you did have infinite money, have you seen a craps table in Vegas that didn't have stipulated maximum bets for the table? Why do you think that is?

Roulette is another game succeptible to the Martingale, and is another game you just can't win. Pretty much every bet on the table has better than a 5% house edge, which is way bigger than any edge you can ever get over them on any other game where such a thing is even possible. Ignore those electronic boards showing you which numbers have come up recently. Those are just to trick people who are bad at basic probability.

Baccarat is not beatable (despite what James Bond might have you think) but if you're looking for a game with a small house edge that you can play while sitting around talking with your buddies, this is the game. The game almost literally plays itself, requires no skill and little input from the players, and all you need to know is "bet on the banker." You're not giving up much if you bet on the player, although you'll lose your money faster that way, but the best bet is always the banker, in every situation. The "tie" bet is a complete sucker bet, ignore it. Playing Baccarat where the dealer speaks in French earns you bonus "cool" points, too!

The thing about gambling, though, is that it's supposed to be *fun*. If you keep it in the proper perspective, go with a set limit that you can afford to blow on entertainment, and don't get in over your head, it can be lots of fun to get caught up in the excitement of the casino. People love to be around other happy people, and the casino likes nothing better than when some shooter gets on a "hot streak" in craps and everyone at the table starts cheering and celebrating, because it attracts attention and gets other people nearby to bet. Plus, there is always the small chance that you really *could* strike it rich. People *love* long shots and playing "against the odds", and chasing a long shot can be fun if kept in the proper perspective (as in, "I know I'm almost certainly not going to win, and I'm only bringing $25 because that's all I can afford to lose, but heck, I've got a shot at being rich!!")

But it's not for everybody. If you just can't get past "I'm playing a game I can't win at over the long term" then don't play. But don't fall into the trap of thinking "Everybody here must be an idiot!" While it's true a lot of people in casinos *are* idiots, that's true of pretty much everywhere you go, not just casinos. There's sure to be a bunch of people there attempting to play roulette by the Martingale system and finding out for themselves eventually that it doesn't work. But there's also plenty of people there who know they're not going to win long-term, and yet still play for entertainment value.

I love to put a few bucks in a new whiz-bang video slot machine, just to see what the heck it does, but they bore me quickly so I don't play them much. I could spend hours playing video poker, even though I don't know the "proper" strategy from Adam and never remember which ones have the "favorable" payouts. If you feel it gives you entertainment value, or social contact with others (moreso at table games than slots), then it's no different than going to see a movie or buying a video game or going clubbing. It just takes more self control to not get in over your head. But if you know you have an addictive personality type or if you just can't convince yourself the slots aren't beatable, you're better off going to that movie instead.

-- Dave


Link: Betting systems

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