Betting For Profit
Have you ever heard the expression, ‘The house always wins’? In betting, there is a common perception that the game is set up for betters to lose. This is not the case, but the house does have some advantages, both built-in and executed. How does this work?
First of all, the house plays a numbers game. If there are six players at a table, regardless of the game, and four are undisciplined and, perhaps even intoxicated, they are likely to bet poorly. If the other two bet reasonably, but one has a poor system that puts the house in a clear advantage. Five out of the six betters are likely to lose money before a single chip is placed. That gives the house a tremendous advantage, without the game being tilted against those who play.
Secondly, the house has some built in advantages, like the order of play. In blackjack, for example all of the players reveal their hands before the dealer. Why does this matter? Because even if the house busts, if a player busts first, that money still goes to the house. Most people don’t understand the significance of this. The house must hit on 16 or lower and soft 17. That means that there is a statistical probability that the house will bust on any given hand is about 28 percent. This percentage goes up when the cards are revealed to be unfavorable.
However, if six players reveal their hands before the dealer and two of them bust, that money is collected. Even when the dealer has a weak or losing hand the house rakes when the players at the table forfeit their money first. Again, 28 percent of hands bust, so two in six on well played hands. That’s before liquor, emotions, miscalculations etc. cause players to increase the percentage.
The key is to understand that there are some structural advantages in the house, but there is opportunity as well, if you can understand the percentages and structural obstacles. While not so much an investment, but rather pure luck, you can try to play roulette an online casino and with the somewhat 50:50 chances of winning, it's safe to say that this could be an investment on your end, but with a yield of skyrocketing rewards, if you get lucky. Finally, it is important to understand that the house has a ton of money. This allows them to withstand ebbs and flows of winning and losing. Therefore, if you are going to attempt to bet in order make money, as opposed to entertainment, it is critical that you can fund your activity with enough starting money to endure fluctuations and to stay committed to your system.
This can be one of the great forms of betting entertainment and, when done right, a way to make money. But those two experiences should not be entangled. Yes, making money is entertaining, but the purpose of betting for profit isn’t the fun. It’s business.