Gambling

A money management philosophy in quality online gambling should be as simple as the techniques and theories implemented by the best online gambling players. There is no need for complicated formulas and theories as the more simple the money management system, the easier it is to not only understand and believe in but also the easier it is to track and keep records of.

Rule number one in regards to quality online gambling money management, perhaps the golden rule, is to avoid parlays, teasers, props, and other related bad bets. Casino sportsbooks and online betting services like parlays and teasers because it can increase their profits and margins because such bets are low percentage plays and rarely pay off. A bigger problem with parlays and teasers for any type of player, whether it is an online baseball gambling player or an NFL bettor is that they can take what would have been a winning day and make it either less of a winning day or even turn it into a losing day. To put it another way, parlays, teasers and props increase the profit margins of casino sportsbooks and the best online gambling resource will tell you that parlays decrease the profit margin of a sports betting player. If you are betting baseball games online then you really want to avoid parlays.

Let’s take an example of the best online gambling strategy from a college football Saturday as a player went 5-3 on his eight football picks against the odds on this game day. If this player was betting to win $100 per game had bet these football picks flat he would show an after “vig/juice” profit of $170 for the day. But if this same player screwed around with $100 worth of parlays on these eight football picks and none of them came in, (remember he lost three of his eight football picks), this player decreased his bankroll’s profit margin down to $70 on a day in which he hit 63% of his football picks against the odds.

The absurdity of a parlay is best illustrated by an online baseball gambling player that went 4-1 on his betting on baseball picks against the odds. If this betting on baseball player bet those picks flat against the odds at $100 per game he would have a final profit of $390. If he bet all five picks together on a five-team parlay he would have nothing to show for what should have been a banner day against the betting board. Is it any wonder that sportsbooks and online betting services love parlays?

If you are looking at baseball games online then you don’t want to follow the masses and bet parlays and teasers. Nearly every serious online gambling resource will discourage you from betting parlays and teasers. There no online gambling rules that tell you not to bet parlays but it usually is not a profitable idea. If you are looking at many of the accepted online gambling rules you will not see much to favor parlays, teasers or propositions. There are times when a parlay can be a decent bet but for the average player it is not a good idea.

Be smart, play smart, and learn how to play craps the right way!

Contrary to what you probably read in books and other Internet articles, craps is designed for the casino to win and the player to lose. Over time, the player always loses. The fact is, no matter what bets you combine and betting patterns you apply, you can’t overcome the house advantage. No hedge-bet method (i.e., combination of bet types and bet amounts) will ever change the negative expectation to result in a player advantage. The best you can hope for is to minimize the house advantage and maximize your fun. The knowledgeable player knows he’s supposed to lose, so he plays for fun and excitement. He hopes, but doesn’t expect to win. The secret is to find the optimal mix of variables that allows you to walk away with something left in your pocket and be happy that you didn’t lose it all. The secret allows you to play longer, lose less, and leave in a good mood. You might even leave a winner, making your gambling vacation even sweeter.

Let’s take a basic look at how the casino gets its advantage over the player. When you understand the math and the fact that casinos pay less-than-true odds, you’ll understand why you can’t beat the casino over the long haul. The following simple comparison between two bet types demonstrates two fundamentals that the player must fully understand before putting money on the table. Let’s look at the Place 6 bet and the Big 6 bet.

With these two bets, we bet the number 6 against the number 7. Knowing there are 36 possible two-dice combinations, let’s assume we experience a “perfect distribution” where, in 36 rolls, the number 6 appears five times and the number 7 appears six times. When betting the 6 against the 7 over 36 rolls, we make a total of 11 bets (i.e., we win five times when the 6 appears and we lose six times when the 7 appears; therefore, 5 + 6 = 11). It’s important to understand that the casino takes a set percentage out of every possible bet (except the free Odds bet). So, instead of true odds, they stick it to the player by paying casino odds, which are less-than-true. Given these basic assumptions, let’s look closer at the Place 6 and the Big 6.

The Place 6: To get the full Place odds (i.e., casino odds of 7:6, which are less than the true odds of 6:5), assume we bet $6 on each of the 11 bets. (The 7:6 odds means for each $6 bet that we win, we win $7.) Therefore, our total bet investment is $66 (i.e., 11 bets x $6 per bet = $66). We win five bets when the 6 appears; therefore, we win $35 (i.e., 5 x $7 = $35). We lose six bets when the 7 appears; therefore, we lose $36 (6 x $6 = $36). By winning $35 and losing $36, our net loss is $1. We determine the house advantage by dividing our $1 net loss by our $66 total investment, which results in a 1.52% house advantage (i.e., 1 / 66 = 0.01515, which equals 1.52%). A 1.52% house advantage means we can expect to lose an average of about $0.15 for every $10 that we bet.

The Big 6: This is an even-money bet (i.e., casino odds of 1:1), which means if we bet $6 and win, we win $6. Like the Place 6, our total bet investment is $66 over a 36-roll perfect distribution (i.e., 11 x $6 = $66). We win five bets when the 6 appears; therefore, we win $30 (i.e., 5 x $6 = $30). We lose six bets when the 7 appears; therefore we lose $36 (i.e., 6 x $6 = $36). By winning $30 and losing $36, our net loss is $6. We determine the house advantage by dividing our $6 net loss by our $66 total investment, which results in a whopping 9.09% house advantage (i.e., 6 / 66 = 0.0909, which equals 9.09%). A 9.09% house advantage means we can expect to lose an average of about $0.90 for every $10 that we bet.

Although each bet is the same amount (i.e., $6), which do you think is the good bet and which do you think is the stupid bet in terms of the player? Yes, very good! See how easy this is? The $6 Place 6 is a much smarter bet, in terms of the player, than the Big 6. I don’t know about you, but I’d rather lose an average of only $0.15 for every $10 bet than an average of $0.90 per $10 bet. Wouldn’t you? This simple example clearly demonstrates two fundamentals the player must fully understand: 1) Over time, the player cannot conquer the house advantage and beat the casino, and 2) Certain bets are better than others in terms of the player because of their lower house advantage.

If the casino has a built-in house advantage that no one can beat over time, why do knowledgeable players bother playing? If we’re all doomed to lose, why play? Two reasons: 1) The incredible fun and excitement we experience at a craps table, and 2) The phenomenon called “distribution variance.” We rarely experience a perfect distribution in the relatively short time that we play because variance sneaks into the equation. Understanding variance and how to use it to your advantage is a prerequisite to learning the secret to craps. As my dad used to say, “Knowledge is money. And more knowledge is more money.”

Now you know! Remember, learn how to play craps the right way.

A pair of kings is the second best starting hand in the game of No-Limit Texas Hold’em. In any position, you should raise this hand about three to four times the big blind. Betting puts pressure on your opponents to fold their weaker holdings. Ideally, you would like to have less than three callers. Adjust your pre-flop raise depending on how the table is playing. If your opponents are calling a lot of hands, you may want to increase your pre-flop raise to five times the big blind. Regardless of the flop, you should bet out about three quarters of the pot size. When an ace flops, you still want to play aggressive on the flop. Betting on the flop forces your opponents to define their hands. Betting allows you to represent the ace on the board and possibly take down the pot. If you get callers on an ace high flop, proceed with caution. It is very likely that one of your opponents hit his pair of aces. On any other type of flop, keep playing aggressive on the turn and river if there are no obvious hands that have you beat. Check when you see obvious flush or straights on the board.

Past observation of your opponent should give you information on how they play. Playing pocket kings aggressively will give you the best chance to win a huge pot. Watch out for ace high flops and possible made draws. These boards are very dangerous to play aggressively. Sometimes an opponent will hit three of a kind on you and you will have a big decision to make. By being very observant, you should be able to read who is likely to hold three of a kind when you are check-raised. Beginners need to learn how to lay down big hands when it is obvious that they are beat. Observe your opponent’s play and playing KK will be easy.

Not many people argue that gambling and playing at casinos is great fun, especially when you have hit a winning streak and feel yourself confident. Some casino games require skill besides luck, so you may think that more you learn these games the more you’re going to win, depending on what’s your game. Compulsive gambling and gamblind addiction makes you realize that only thing you will ever master is skill of losing your money, besides that bigger skill often means more money lost… in the long run.

Blinking slots, blackjack and baccarat tables mixed with humble atmosphere and attractive female dealers creates a mixture of seductive environment, I admit. And if you are not prepared or don’t have the knowledge of the games and the odds, you can get addicted quickly and your addiction may become a compulsive need. It does not mean you are retarded, it’s actually quite “human” and coded into us.

Gamblers Anonymous homepage describes compulsive gambling as an illness that is progressive in its nature, which can never be cured, but can be arrested. Before coming to Gamblers Anonymous, many compulsive gamblers thought of themselves as morally weak, or at times just plain ‘no good’. The Gamblers Anonymous concept is that compulsive gamblers are really very sick people who can recover if they will follow to the best of their ability a simple program that has proved successful for thousands of other men and women with a gambling or compulsive gambling problem.

Gambling can be compared with addiction to drugs, alcohol, cigarettes or junk-food. It’s very often as destructive and dangerous as other addictions, often ruining relationships, careers and even ones life. It’s very important to start seeking help ASAP when you think you can’t control your gambling habit anymore!

Gamblers Anonymous say that compulsive gambler needs to be willing to accept the fact that he or she is in the grip of a progressive illness and has a desire to get well. Their experience has shown that the Gamblers Anonymous program will always work for any person who has a desire to stop gambling. However, it will never work for the person who will not face squarely the facts about this illness.

Gamblers Anonymous offers the following questions to anyone who may have a gambling problem. These questions are provided to help the individual decide if he or she is a compulsive gambler and wants to stop gambling.

TWENTY QUESTIONS

1. Did you ever lose time from work or school due to gambling?

2. Has gambling ever made your home life unhappy?

3. Did gambling affect your reputation?

4. Have you ever felt remorse after gambling?

5. Did you ever gamble to get money to pay debts or otherwise solve financial difficulties?

6. Did gambling cause a decrease in your ambition or efficiency?

7. After losing did you feel you must return as soon as possible and win back your losses?

8. After a win did you have a strong urge to return and win more?

9. Did you often gamble until your last dollar was gone?

10. Did you ever borrow to finance your gambling?

11. Have you ever sold anything to finance gambling?

12. Were you reluctant to use “gambling money” for normal expenditures?

13. Did gambling make you careless of the welfare of yourself or your family?

14. Did you ever gamble longer than you had planned?

15. Have you ever gambled to escape worry or trouble?

16. Have you ever committed, or considered committing, an illegal act to finance gambling?

17. Did gambling cause you to have difficulty in sleeping?

18. Do arguments, disappointments or frustrations create within you an urge to gamble?

19. Did you ever have an urge to celebrate any good fortune by a few hours of gambling?

20. Have you ever considered self destruction or suicide as a result of your gambling?

Most compulsive gamblers will answer yes to at least seven of these questions.

What do Dr. Vic Fey, an obstetrician from Clinton, Oklahoma, and Erick Brenes, a farmer from Costa Rica have in common? They both made it to the final table of The World Poker Tour’s Aruba Poker Classic. And what makes it more remarkable is they won their $6,000 buy-in and the trip to Aruba by playing a $27 satellite tournament at the online poker room, Ultimate Bet. Neither of these men are professional poker players but at the end of the tournament Vic Fey finished in 6th place and won $105,000 and Erick Brenes finished in first and went home to Costa Rica $1,417,000 richer. Not bad for a $27 investment.

What are satellites and how do they work? Basically a satellite is a way to enter a major tournament and play for big money without having to pay the large buy-in required. For example, the buy-in for the World Series of Poker (WSOP) is $10,000. An on-line poker room could sponser a tournament with a $1,350 buy-in (they will also charge somewhere around 9-10% for a registration fee). For every 10 players in the tournament there would be a prize pool of $13,500, enough for the single buy-in to the WSOP and some extra for spending money. So for a $1,350 you could win your entry to the major tournament. If there are 100 players then the players who finish in one of the top 10 positions would be on their way to Las Vegas and a chance at $10,000,000, the estimated top prize in this years tournament.

A thousand dollars is still a little steep if you ask me but you’re dying to play in the WSOP. So you go to an online poker site like Royal Vegas Poker. There, they have a way for you to make it to the World Series for as little as $1. It takes six steps and works like this:

Step 1: You pay a $1 buy-in and a $.10 registration fee. You play against ten other players. If you come in first or second you’ve made it to step two.

Step 2: You enter this tournament by either coming in first or second in step 1 or by directly buying in for $5 + $0.50. Come in first or second and you move on to step three. Come in third and you get to play level 2 again free.

Step 3: Same deal. Enter by placing 1st or 2nd in the previous step or buy-in for $22.50 + $2.25. The final 2 players get free entry to step four and third place lets you repeat step 3 and pays you $2.75.

Step 4: The buy-in for this level is $100 + $10. Come in first or second and go to step 5. Come in third and play step 4 over again.

Step 5: If you happen to have $450 + $45 you can buy-in to this level. If you’ve were lucky enough to come in 1st or 2nd the previous step, it costs you nothing. The first two finishers go to the final step, third place gets to play step 5 again.

Step 6: You’ve made it to the final step. Of course you can just cough up the $1,350 + $135 to play in this game or you might have gotten here all the way from step one for $1. In either case, finish 1st in this ten player table and you’re on your way to the WSOP. Come in 2nd and you win $1,000.

This is just one example of an on-line poker site’s roadmap to the WSOP. At FullTilt poker you can get there for as little as $4. And they have a promotion in which if you gain entry to the tournament through their site and win the $10 Million at the WSOP, they will match it with an additional $10 Million.

Party Poker has satellites starting at $9,InterPoker can get you there for $10, and UltimateBet has games for as little as $3.

There are even some sites where you can gain entry through freerolls (tournaments with no entry fees).

There are all sorts of tournaments like this at many different online poker sites and they all follow the same basic pattern. You buy-in at a low level to win entry into a higher level tournament. I narrowly missed making it to the PartyPoker millions tournament with a $10,000 buy-in and a prize pool of $7.5 Million. For $6 I worked my way up to the finals where I needed to come in one of the top 4 positions. Unfortunately I finished 9th, but there’s always next year. And boy, did I get a lot of entertainment and excitement for my $6.

So if you’re looking to be the next poker star and you don’t want to put down $10,000 to get in the game, check out the different online sites and see if you can turn $1 into a million.

Copyright 2005 FunProfitPoker, All Rights Reserved.

So you have decided to play some poker on the internet. I am sure you know that there are many first deposit bonuses going around at different online poker rooms. Party Poker is usually the first place poker players look to play online. Party Poker has several enticing bonus offers that are sure to draw you in.

What is the catch?

You usually have to play a few hundred raked hands to get your bonus. This goes for all online poker sites. The bonus codes you use to get that extra cash will require you to play hundreds of raked hands in order to receive the bonus. The bigger the bonus the higher the amount of raked hands. These poker rooms are really risking nothing by giving you a bonus because the only way you get the bonus is by playing enough hands to generate an equal or greater amount of profit for the poker room. Some poker rooms take the bonus money out of the affiliates check that referred you to the site. It is a win-win situation for the poker site.

What are raked hands?

Raked hands are hands in which the poker room takes a small portion of the pot. Some poker rooms only take rakes from certain sized pots. Other poker rooms may count seeing the flop as a raked hand, the turn as a raked hand, and the river as a raked hand. Not all hands are raked hands. Keep in mind that playing a few hundred raked hands with only $50 can be tough. Especially if you are getting bad cards.

Picking off a bluff may be one of the most difficult things to do in any form of poker especially a tournament. Many times you will face a bet for your tournament life. If you call and are beat, you are out of the tournament. There are two main parts to successfully picking off a bluff. First, you have to observe your opponent closely and remember his tendancies. How does he play strong hands? What types of boards is he scared to bet? When has he showed weakness in the past? All of these questions will eventually come together to give you a read. Trusting your read is the second part of picking off a bluff. Many players are playing above their bankroll nd are unable to make a big call. Playing at a level where you can trust your read is very important. If you have a read on your opponent that your small pair is good, you should follow it.

Playing above your bankroll forces you to play a more conservative style of poker. By playing conservative, you are giving a huge edge to your more aggressive opponents. They take advantage of players who are unwilling to play marginal hands. Most times everyone at the table has a marginal hand. Always play at a level where you don’t really care about the money at the table. If you really care about losing any money, you shouldn’t be playing. Develop your focus for observing opponents and trust your reads. It will take some time to fully trust your reads. Over time, your instinct will be dead on and it will seem like you are playing your opponents with their hands face up. This skill is way more rewarding than any amount of money you could ever win playing poker.

If you are a good poker player, you already have the skills to play a different game - one that offers far bigger rewards for the skills you have.

So, what is the game? - Trading financial markets such as currencies, which is an area that many poker players excel in - many of the world’s greatest traders are poker players too!

My first job was in a financial brokerage, and I watched in amazement as a guy put down $20,000 - and traded it to $685,000 in just 4 months!

When talking to him, he revealed his passion for poker - and that he decided to trade, as he felt it would be easier, and the rewards were bigger - and for him, this came to fruition!

In fact, many of the world’s top traders are great poker or blackjack players - and they switched “games”, to play for rewards that can total millions quickly - which led them to financial freedom.

Moving from Poker to Trading

Trading is actually easy to learn than poker, and within about 14 days, you can develop a method that puts the odds in your favor - so you can trade for big profits.

Most traders don’t lose because they have a bad method - they normally lose because they can’t trade without emotion, and with discipline - they have no idea of money management – but poker players already have these skills.

All you need is a Method to apply that puts the Odds in your Favor

You can learn everything about trading in around 14 days - you will then have all the knowledge you need to go and trade for huge profits.

Trading represents the final frontier of the free market economy - and you have the opportunity for massive gains.

The Power of Leverage

When you trade, you can leverage your money. For example, put down $5,000 dollars with a currency broker, and they will give you leverage of 100:1 so you can trade $500,000!

Of course, this leverage is double-edged sword, but if used correctly, you can make massive profits that far exceed what you can make playing poker.

So why do Poker Players make such Great Financial Traders?

To succeed when playing poker, you need a method - and to apply it with discipline - playing when the conditions are right, to gain the big profits - and this is exactly the same in trading.

Here are some similarities between the two games:

1. Putting the Odds in Your Favor

In poker you only play when you think you have the odds in your favor and this is a skill all the great traders have.

They have patience and only trade when the conditions are right, and the profit potential is high.

2. Money Management

Just as you manage your bankroll in poker, you also do so in trading - varying bet size to maximize your profits, and having the discipline to cut your losses quickly.

3. Discipline

Just as most card players lack discipline, so do traders.

You need discipline to execute your method through losing periods - and have the confidence that you will win over the longer term.

If you’ve ever thought you Couldn’t Trade - then think Again!

The rewards for successful trading are far greater than in poker - and the effort required, once you’ve learned a method, is far less - in just an hour a day, you could be making huge profits.

Play in a bigger stakes “game” today - financial trading in markets such as currencies requires the same skills you already use when playing poker.

You have an opportunity to play for higher rewards using the skills you already have - and anyone can learn a method - it’s discipline, and money management that makes a successful financial trader - and you already have these skills.

Bingo is one of the most simple and general game of all times. Be it children’s party, classrooms, charity functions or a simple time pass, Bingo finds it place everywhere.

Bingo originated in Europe. The early games were played in Italy back in 1500s. later the French adopted the game and introduced the first bingo cards. Later the Germans used the game to tech children basic arithmetic and English. By 1800s the game had gripped entire Europe. The game was introduced in America in early 1900s. Owing to its thrilling nature, the game spread fast and was soon used not only in gatherings but also in fund raising events especially by the church. Even today the game is used in charity functions and in primary schools.

The pre requisites to play the game are Bingo cards and bingo cages, which contain the balls to be called out. A bingo cards consists of five rows and five columns. These twenty five spaces conventionally have numbers written on them. However, to add kicks to the came one may replace them with cars, traffic signals etc. daubers or chips are used to mark the numbers that are called in the game. Usually players prefer daubers to chips. The popularity of daubers has increased so much that daubers now come in various sizes, shapes and designs like Uncle Sam daubers, Elvis daubers etc. personalized daubers are also in vogue. A Bingo kit contains all the necessary requirements.

Like all other games, Bingo enjoys it own terminology. One needs to be aware of the Booklet, Blackout, Coverall, Face and numerous other terms to play the game easily. Over the years various works on the game have found their way to the book stalls. There are books available for novices, for players willing to excel at the game, even for those who want to cheat in the game. Though the game is quite simple, serious players can devise certain strategies using these works. The books also help the players to diversify into various other games using bingo. Some directories exist that list the places where the game is played.

The exciting feature of Bingo is its luck factor. Everyone has a fair chance of winning. The luck factor brings with it superstition. Lucky charms and stones are common place in the game of bingo.

Bingo Cruises are organized at different times of the year for bingo fans. These cruises give the players a chance to play and holiday at the same time. the cruises can extend from one day to a span of a week. The prizes include gifts and money.

Websites, nowadays, also provide Bingo games online, which are easily accessible. These games are continuously played in gaming rooms and one can comfortable join in.

Bingo, though a recreational activity, is governed by the Bingo Act of 1996. the Act contains certain provisions like the tax terms, the prize money in a game, the regulation of Bingo organizations etc.

The widespread development of Bingo and its popularity has given rise to an entire line of merchandise dedicated solely to the game or its related areas. From the Bingo kit to good luck charms that shower luck on the player, everything can be bought from the markets.

What is perhaps the single most factor that separates long-term winners from eventual losers? If you gave one of the common answers, like luck or game knowledge, you are incorrect. The answer is money management. Sure, luck helps and knowledge of the game you are playing is a must. However, unless you learn to manage your money properly, you are destined to fail. Money management is not simply playing within your limits. It goes way beyond that. Today we talk about one aspect of money management-the daily bankroll.

A simple way for most people to get started is to create a bankroll for your night out or whatever. For instance, let’s say you will play Blackjack today. Decide what is the most money you are willing to lose. For our example, let’s say we are setting our daily bankroll at £100. Now we could rush off to the £25 table and try to stake our claim to fame, but that would be foolish. To win over the long run it’s important to be able to withstand losing streaks.

One good way to do this is to divide your daily bankroll by 20. This will give you 20 bets to start with. It also helps those new to money management figure out how much to wager. In our example, we have a £100 bankroll. After we divide it by 20, we end up with £5 units. The ideal situation is to find a table where we can bet £5 hands. It might be tempting to run off to a £5 table, but £1-£2 would be much better. This will allow you to fluctuate your bet downward if desired.

Keeping a general idea of what your current bankroll divided by 20 will allow you to raise your bets. For example, if your bankroll grows to £200, you can now start laying out those £10 wagers. If you hate math, just stick around your original figure and have fun.