Sunday, 21 September 2008

The Art of Gambling

We all know the odds are against us, we know we can never get rich from gambling, we know the chances of winning is low, we know we are rationale in our thinking, we know there’s no way we can beat the odds in the long term, we know the entertainment value is high, we know it’s fun, we know we can win. No point describing gambling is bad and all that, what we are interested is how do we beat the casino?

Rule No. 1 – Have plenty of sleep before you go gambling

Before gambling requires high level of concentration, it is important to have plenty of sleep before entering the casino. It is imperative to feel fresh before entering the casino and you require all that adrenaline rush before you make a killing. If you feel good about yourself, chances of winning are higher Even the army advocates 7 hour of sleep before any mission or exercise. If you are going at night, take a power nap and ensure you have enough energy to kill a tiger before making your trip there.

Rule No. 2 – Time is not of essence

Time is one major barrier when you gamble. If you keep thinking that you have a assignment due and you need to call your girlfriend/boyfriend at a later time, you reduce your chances of winning. Constant check of time takes a toll on your concentration and it will be better if you are going without regard of the time.

Rule No. 3 – Shift shift shift

Do you ever wonder what the role of the managers around the tables is? Ensuring the right change of chips is only their secondary job. Their primary role is to ensure that the dealers are not losing chips in the table. For instance, if the dealer keeps losing more than 3 times in a row, the manager will ask her to “take a rest” and replace with someone else. That’s how you can turn your winnings to a loss. What goes up will come down and what comes down will go up also. The principle applies not only to the stock market but also in gambling. Thus it is important to walk away or change a table when your luck starts to change. Now you know which dealer brings you luck, stick to him/her.

Rule No. 4 – Change of chips

When you are on a winning streak, let say you have a pile of blue chips ($10 dollars) you can request to change the chips in to green ones ($25)and black ($100) thereafter. The rationale of this tactic is to keep track of your winnings and losses. For instance if you managed to win $260, it is better to hold 2 black chips and 6 blue chips. This is because if you lose 3 blue chips in a row, u will be less prone to use your black chips on the next bet. However, if you have all in blue chips, you will subconsciously use all the blue chips and before you know it, you will lose it all.

Rule No. 5 – Never play alone in the table

Although you get to deal your cards faster, it also means chances of losing are higher. Because the dealers deal faster, you tend to have lesser time to think and respond. With the odds against you in the first place, it will be better for you to play with more people. This is the reason some tables are left empty and people only join “hot” tables. “You stay because you win” “You go because you lose” Empty table means trouble

Rule No. 6 – Break the fengshui

All casinos are designed in such a way that there are elements from preventing you from winning. This is known as fengshui. The architecture of the casino is like a bird cage and we are the worms that are fed on. In fact, all elements are against us when we take our first step in. What we can do to prevent this negative element is to avoid it. Never walk straight into the casino. We can walk backwards, sideways upside down, but never straight into their “cage”

Rule No. 7 – Double dragon

Ideally speaking, it is impossible to lose money in the casino as long as you have the capital. As long as you keep doubling your bets, chances is you will be able to recoup your losses eventually. For instance, if you lose your first $10 bet, bet $20 the next round.

Rule No. 8 – Bring your lucky charm

You tend to be luckier if you wear your lucky underwear or bring your lucky charm each time you visit the casino. Chances of winning are higher if you wear your lucky shirt or pants.

Until this point if you agree with me that these 8 rules of gambling can help you win, you are probably not rationale anymore. What we fear most about gambling is not about losing about our rationale but the power of temptation. Punters are often classified as the most optimistic people in the world and we are often driven by our greed to gamble. Casinos have one of the best business model in the world and what they are afraid most is not losing money, but you not patronizing them.

There are so sure that you will be tempted with gambling that they are willing to offer you a free $10 dollar rolling chip when you sign up as a member. They are also winning to offer you a free parking ticket as long as you play long enough in the same table. To make you stay longer, they provide you with free drinks entertainment all in all so that you will stay longer. The problem with gambling is that the problem lies not in rationale but the temptation to revisit the casino.

We all know we are gambling with moderation but it is not about how much we win lose or draw, but about thinking when to visit that place again. The average probability of winning each bet is approximately 33.3333333% thus if you win this time round, you are indeed very lucky. But chances of a constant winning streak are low. For instance assuming you play Russian roulette(The game whereby you put a bullet into gun with 6 slots and shoot yourself) Gambling is no different, in this case, it’s merely a gun with 3 slots and 2 bullets. High chances are you will lose.

Often the casinos are not using the odds against us but our individual greed and desire to earn quick money. When we lose, we tend to increase our stakes, when we win, we tend to visit the place again, thus there is no way we can beat the casino. We often feel the pinch when we pay $10 for a meal but when we lose a $10 chip, we smile at the dealer who took our money away. We tend to be very forgetful and graceful on a losing streak. For instance, if you lose $100, you will console yourself by telling you that you won $100 from the stock market the other day. Ultimately, it is the casino that has gained.

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