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Casino News on Monday, May 15, 2006

A Keno of a problem

Keno is a variation on bingo. It is the worst possible betting opportunity in Vegas, offering perhaps a 75% return for your money. Mind you, that compares favourable with the British Lotto, which only returns 50% of the money staked.

A casino boss arrived in the morning and was told that a punter had won the big Keno prize of perhaps $50,000 the previous evening. He promptly sacked the entire grave yard shift; that is the people working from midnight to 8am.

He correctly reckoned it was much more likely that the casino employees had cheated than that this headline prize had been won honestly. Why bother to take the chance?


Casino News on Monday, May 08, 2006

Easy answer if you suspect cheating

If you suspect a casino is cheating the customers, a simple winning system presents itself. Simply look study the game and determine who is the biggest punter at the table and then take the opposite bet to him. If you intend to gamble then the worst outcome is that you are suffering from the usual house advantage.

In a sense this is similarly to bucking the market trend on the stock market, though the reasoning is utterly different.


Casino News on Monday, May 01, 2006

The Martingale System

This is the most well known and simple of all gambling systems. The Martingale system can be used on a wide range of casino games, but is mainly used regarding evens money betting on the roulette table. It is known as a progressive system because the amount a player stakes increases after losses. In very simple terms stakes are double after losses until a win occurs.

For example after losing an evens money bet for 1 unit, the player will subsequently put 2 units on the next evens money bet. If the play loses this they will put 4 units on the next bet etc? This process continues until they win the bet, at which point the player will receive back all their lost money and win an additional 1 unit (which was the first bet). Once the player wins the next stake is then again reduced to the original one unit and they continue the cycle again until they win again. This seems like a foolproof system not to lose any money, but as with all progressive systems, the player must proceed with caution. A players bankroll may disappear in a very short time by doubling their stake every time they lose, also mathematical law states that the past has no effect upon the future in an evens money chance e.g. if the roulette wheel has spun ten blacks in a row, it still has the same chance of coming up black as it does red in the next spin. This system is best used in Roulette, but can also be used in Blackjack.