There are various betting strategies and systems that players can use when enjoying online casino games. However, for most casino games, which are games of chance, there is no true playing strategy. Playing strategy can only be employed when the bettor has the opportunity to analyze probable outcomes based on statistical evidence and then choose to make a specific wager based on that evidence. In games that are chance-based, such as Baccarat, Slots, and Keno, there is no true playing strategy. Playing strategy may be used in the following types of wagering venues or games, poker, sports betting, horseracing, Blackjack, and Video Poker. All other types of games and betting opportunities involve the use of betting strategy and not playing strategy. Betting strategy is heavily reliant on solid money management principals.
Is a Betting System a Strategy?
The simple answer to whether or not a betting system is a strategy is “no.” Betting systems are designed to in some manner make up for lost money and tend to be based on what is called the Gambler’s Fallacy. The Gambler’s Fallacy is the notion that eventually all bets will even out and if you continue to lose bet after bet that you must eventually win an equal number of bets. However, the basis of this belief is erroneous because for this to be true then the first outcome would have to influence the next, and this is not the case, whether you are wagering on a casino table game, a horserace, or a hand of poker. As an example, if you are playing Roulette and 5 red comes up, whether or not that number hits on the next spin of the wheel has nothing to do with the fact that it hit on the last, Each spin of the wheel is a separate event. The same is true of any type of self-contained round or event, such as a hand of poker, a spin of the slot reels, or a roll of the dice. Thus systems such as the Martingale, Labouchere, Fibonacci, or d’Alembert simply do not work in a consistent manner. You may have utilized the Martingale System, which is the most popular of all such methods, and won. However, the fact is your winning by using this system was pure chance. The Martingale System is based on the idea that if you lose your first wager, you double the next bet, and if you lose that, you double the next again until you win and break even. Then, once you win, you go back to your original wager. However, more times than not doubling your bet will result in another loss and another; eventually, most bettors run their bank dry by playing this system.
True Betting Strategies
Betting strategy involves determining how much risk you want to take, setting limits in terms of the amount of money you are willing to lose during a specific session of wagering, and setting up your bankroll. Your bankroll is the total amount of cash you have designated as being available for betting purposes. Note that the three general foundation elements of any betting strategy are all related to setting limits. You are limiting
• Your risk (high, medium, low) in terms of types of bets and how much wagered per bet
• Total Losses for a session (dollar amount)
• Total Bankroll (for a month, season, or year) These limits will give you the parameters for your bets.
A basic wagering strategy will first set limits on how much you have to bet during a given betting session. A betting session may involve how much time you allot for playing a table game, Slot, or Video Poker machine, or how many turns or rounds you’ll play before stopping. If you have a bankroll of $1,000 and you’re a low risk player, then you will use between 2% and 10% of that amount during a wagering session. Medium risk players will use 15% to 25% and high risk will be willing to lose anywhere from 30% to 50%. Anything after that defines a maniac or a desperate player, and you don’t want to be either of those. We’ll be a low risk player and elect to wager 5% or $50.00 of our bankroll. Using this strategy, you must now decide how many bets you want to make during your session. You do this by dividing the $50.00 into smaller units. Again, low risk bettors will divvy their cash into more units than high risk gamblers. Low risk would make each unit anywhere from $1.00 to $2.00. High risk would play with units worth $15 or $25. As you can see, the player willing to take a greater risk stands to lose their stake a lot more quickly than the person taking less of a risk. If you play with 3.3 units ($15/bet), then you do stand to win a lot of cash if you hit, but you’re putting a lot of pressure on those 3.3 precious bets. However, if you place $1.00 bets, giving yourself 50 wagers for the session, you will be taking much less risk and giving yourself more chances to win. Of course, you won’t win as much if you do hit, but, conversely, you won’t lose as much either.
When wagering start with your unit bet. Do not increase that bet until to have increased your stake by 10%. Thus, if you start with $50, you may increase your bet once you have $55. If you’ve been making $1.00 bets, then you may increase to $1.50 and keep it at that until you lose a wager. Then immediately go back to a $1.00 bet. If you lose the $50, then your betting session is over. Don’t wager again for at least 24 hours. Also, it’s a good idea to set a limit as to when you will stop midpoint in your session. Having two milestones for this event is very useful. Thus, you may stop, if you’re using the $1.00 unit, after you make 50 bets. (If you were using a $2.00 unit and would have 25 bets total, you would stop after making 25 wagers.) After making those 100 bets, you may have $25 left of your $50, or another amount. Whatever is left, you stop. The other milestone to set would be stopping after you have won a certain amount. The ability to walk away after having made a profit is the essence of successful casino gaming. Set the amount and stick to it. Let’s say you decide once you make 20% you’re done for the day. That means as soon as you have $60 or more you stop playing and pocket your winnings. It is important to set reasonable limits. Don’t try to turn your $50 into a string of 200 bets. That simply does not make fiscal sense. Nor does it make sense to have an unreasonable walkaway goal of lets day setting a walkaway amount of $100 or $150. You may win that much on $50 on occasion, but it is not a reasonable goal based on the amount of cash you’re bringing to the table.
Sound Strategy Equals Smart Betting
The primary reason to employ a sound betting strategy is to ensure that you can stay in the online casino game for the long run. Setting limits and handing your bankroll as if you were a businessperson, which you are to a degree, will give you the best chance of profiting from your betting. Risk less, stay in the game longer, and have fun.