- A Gambler Loses Ten Times Running At Roulette Numbers
- A Gambler Loses Ten Times Running At Roulette Game
- A Gambler Loses Ten Times Running At Roulette Games
- A Gambler Loses Ten Times Running At Roulette
- A Gambler Loses Ten Times Running At Roulette Sites
- A player making $10 bets on a single number (with only 1/38 chance of success) with a $100 bankroll is far more likely to lose all of his money after only 10 bets. In the early frontier gambling saloons, the house would set the odds on roulette tables at 27 for 1.
- A gambler loses 10 times running at roulette. He decides to continue. Playing because he is due for a win, by the law of averages. A bystander advises him to quit, on the ground that his luck is cold. Or are both of them wrong?
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How do you know when it’s time to place a big bet in roulette?
The purpose of a box model is to analyze chance variability, which can be seen in its starkest form at any gambling casino. So this section will focus on box models for roulette. A Nevada roulette wheel has 38 pockets. One is numbered 0, another is numbered 00, and the rest are numbered from I through 36. The croupier spins the wheel,. A gambler loses ten times running at roulette. He decides to continue playing because he is due for a win, by the law of averages. A bystander advises him to quit, on the grounds that his luck is cold.
Unfortunately, I don’t have a lot of hard and fast rules that will teach you how to predict a winning roulette bet. If you could predict when a bet’s going to win, that would be the time to bet big on roulette.
But as luck would have it, roulette is a random game that consists of bets on independent random events.
So, you need to decide when to bet big on less reliable clues than knowing which spin is going to be a winner for you.
You Should Bet Bigger on Roulette When You’re Placing Outside Bets
I should start by saying that roulette is a game where the casino has a clear, unassailable mathematical edge. Where I live, the most common version of roulette has a house edge of 5.26%. This means that, based on the difference between the odds of winning and the payout odds, the house will win an average of 5.26% of all your action.
That’s a long-term average, though. In the short run, that number is close to meaningless. It mostly just means that the casino is more likely to win your bet than you are to win it.
The house edge for ALL the bets at the roulette table is the same, though. It doesn’t matter if you’re making a single number bet (which pays off at 35 to 1) or on a color (which pays off at even money).
The difference between the inside bets and the outside bets has more to do with volatility than with the advantage one way or the other.
If you’re placing big bets, you probably want less volatility, not more.
Volatility in Gambling (And in Roulette, Specifically)
What is volatility?
It’s the tendency for your wins and losses to spike. If you’re betting on black on every spin, you’ll be winning almost half the time and losing a little more than half the time. Every time you lose, you’ll only lose one chip. And every time you win, you’ll only win one chip.
But if you’re placing single number bets, you’re betting on the most volatile option at the table. You’ll lose most of the time—37 out of 38 spins, on average. When you do win, though, your pile of chips will increase dramatically. A single number bet pays off at 35 to 1.
I don’t know what your goals are playing real money roulette, but most people are playing with the hope of getting some entertainment in and maybe winning a modest sum of money.
For most people, this means they should make outside bets. These are the bets that win close to 1/2 or 1/3 of the time. They don’t pay off as well as the inside bets, but you’ll win often enough to keep you in the game for longer.
Other gamblers, speculators, might want to go for a bigger win. In their case, I still suggest lowering the size of your bet on the single number. If you’re comfortable betting $100 on red, you might consider lowering the size of your bet to $10 for your single number bets.
It’s up to you, of course, but you probably want to stay in the game longer.
Bet Big When You’re Planning to Try for One Big Score
If your goal is to just double your money, one way to go about it is to place one really big bet at the roulette table on red or black. You have a 47.37% probability of winning that bet, and you’re more likely to double your money placing one big bet with a large bankroll amount than you would be if you tried to bet smaller amounts on multiple spins.
Winning one big bet is easier than winning two bets half that size.
And that’s easier than trying to win three bets in a row.
Simple logic tells you that.
This doesn’t mean that a huge bet on red or black is a good bet. It’s not. You’re still going to lose that bet 52.63% of the time.
But that’s better than losing a single big bet 97.37% of the time. (Your odds of winning a single number bet are only 2.63%.)
You Should Bet Big in Roulette If You’re Using the Martingale System
The Martingale gets a bad rap. No, it won’t help you overcome the long-run house edge of roulette.
But it can be an entertaining way to play. It will also improve your probability of being a small winner during a short gambling session.
Here’s how the Martingale works:
You place a bet on one of the even money outside bets, like red or black, odd or even, or high or low.
If that bet wins, great! You’re up one unit.
If that bet loses, you double the size of your next bet so that you can win back the bet you lose along with a single unit of profit.
If you lose twice in a row, you double up twice in a row. Craps place bet odds. You keep doubling your previous bet after a loss until you can’t afford to cover the action anymore.
This might seem like a foolproof system, but what it does in actuality is guarantee a lot of small wins and some occasional big losses.
And those losses are bigger and happen more often than you think.
If you follow the Martingale strictly, you’ll inevitably be placing some big bets.
Let’s say you start by betting $5 on black.
Here’s what the progression would look like after eight losses in a row:
- $5
- $10
- $20
- $40
- $80
- $160
- $320
- $640
You’d need a bankroll of close to $1,000 to afford this kind of action.
And there’s no guarantee you’ll win on the eighth or ninth bet either.
The Gambler’s Fallacy and the Nature of Random Events
The reason people think the Martingale is a sure-fire system is partially because they realize that getting the ball to land on black eight times in a row has really long odds.
And this is true.
But you’re never placing a bet on the ball landing on black 8 times in a row, or any other number of times in a row.
You’re betting on the next spin.
And the roulette wheel has no memory of what happened on the previous spin.
The outcome of the next spin has the same probability as the last one did. You still have 38 possible outcomes, and you still only have 18 possible outcomes that will make you a winner.
This means the probability of winning the next even-money bet is always the same—47.37%.
You get that number by dividing the number of ways you can win (18) by the total possible number of outcomes (38).
The belief that the previous results affect the probability of the next result even has a name. It’s called the “gambler’s fallacy.”
Don’t fall for it.
Save Bigger Roulette Bets for a Lower House Edge
The traditional roulette game played in the United States is called American Roulette. The wheel has 38 numbers on it. 18 of them are black, 18 of them are red, and two of them (the zeros) are green. All the probabilities in American roulette are based on the 38-number wheel.
This is what makes the house edge for the game 5.26%.
But that’s not the only version of roulette in existence. In Europe, they offer a roulette game with 37 numbers on it. You still have 18 black numbers and 18 red numbers, but you only have a single green zero.
All the payouts and bets are the same. You can still bet on red or black. You can still bet on single numbers.
But the house edge is only 2.70% because of the removal of that extra number from the wheel.
If you can find a European-style roulette game in the casino, they’ll almost always have a higher minimum bet than the American Roulette game does. You should probably play it anyway if you’re going to play roulette.
Roulette machine tips. I always advise casino gamblers to try to find games where the house edge is lower than 1.5%, but some people just love roulette too much to put that advice into practice.
Conclusion
When should you bet big in roulette?
Really, you should never place big bets in roulette. It’s a negative expectation game with a big house edge of 5.26%.
You can find better casino games with better odds to bet big on.
But if you do decide to bet big in roulette, you can find multiple opportunities to do so. None of the appropriate moments to bet big will help you win more in the long run, though.
With a negative expectation game like roulette, you can always count on losing in the long run.
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During my years as a blackjack and roulette dealer I watched a lot of people lose a lot of money. I also saw a few players win money — I’ll get to that in a moment.
Oddly, most of my coworkers loved to gamble. You would think they’d know better, since all of their wages (and all those pretty buildings) are paid from gambling losses.
I didn’t (and still don’t) share their gambling habits. On the other hand, it can be fun to hang out in a casino, especially if they have free drinks.
So I understand why people might budget a little bit of money to lose at the slot machines or table games.
Of course it would be even more fun if you could do better than limit your losses, right? It would be great if you could make money at casinos.
Well, you can! And 44 states have casinos!
Here are ten ways to make money at casinos, along with some ways to save money by going to a casino, and — in case you need to satisfy your inner gambler — a way to risk a little money to win big.
1. Become a Card Counter
Regular blackjack gives the “house” (the casino) an edge of about 0.5% to 3.0% depending on the rules and how well you play. However, at times the game is in your favor as a player.
Specifically, you have an advantage when the remaining cards include more aces and face cards than normal.
To know when this situation has developed you can track the cards using a simple plus-or-minus count, and then bet more when the count is right.
You can learn card counting in a few hours, but to be proficient while playing at a busy blackjack table takes many more hours of practice.
Keep in mind that casinos can ask you to leave, even though card counting isn’t illegal. Where I worked management tolerated small-time card counters.
They probably figured that having a few winners encouraged the less-disciplined players to keep trying. The edge from good card counting is only 0.5% to 1.0%.
Caesars palace las vegas phone number. So, for example, if you play at a table with a $5 minimum and alternate your bets between $5 and $50 (when the count is right), and there are 50 hands dealt per hour, you might bet a total of $700 per hour, for an expected profit of just $7 per hour (with a 1% edge).
Clearly, to make some serious money you have to be good and bet more.
By the way, having the odds in your favor doesn’t eliminate the ups and downs. I can tell you from experience that even the house, with a larger statistical edge, loses on some days.
So with bets of, say, $25 to $100, you may do well in the long run, but you have to stomach nights when you lose thousands of dollars.
Still, if you do it right, you’ll be ahead in the long run, so you’re working, or investing, not gambling.
2. Try Credit Hustling
Credit hustling is simply looking for leftover credits on slot machines. Players often forget and leave without cashing out.
On slow nights when I had no players at my blackjack tables, I used to watch credit hustlers checking the machines, and they sometimes found credits.
A Daily Mail article on people who live in the tunnels under Las Vegas reports on one couple that survives by doing this.
They once found more than $900 in a single machine, although finding a dollar or two is the norm.
While not illegal (if the credit have been truly forgotten and abandoned), casinos don’t care for credit hustlers, so you’ll normally try to keep a low profile.
3. Join A Players Club
Almost every casino has some sort of “players club” you can join for free.
Apart from earning points as you play, which can be redeemed for freebies of all sorts, you also usually get some rewards up front for signing up.
For example, many casinos offer “match play” money. That might be $5 coupons or chips, for example, but you have to bet $5 of your own along with each one.
You can lose, but when you win $10 for betting $5 of your own money the odds are with you even at the worst games.
If you round up enough of these deals you can be pretty sure you’ll make a profit playing just long enough to use up your match play.
Casinos may offer a free meal or other goodies for joining the club too, which at least saves you some money.
4. Take Advantage Of Promotions
The casino where I worked handed out out $10 in free play to everyone who walked in the door (for a while anyhow).
Some couples came every day to get $20, playing perhaps 50 cents each in the slot machines before leaving with the rest of the money.
When my wife and I lived in Florida we went to a casino where they gave us each $5 in free slot machine play, and a free dinner, and free wine.
The catch was we had to play at least 100 times, but at nickel machines with a 12% house edge the expected loss is only 60 cents (100 x 5 cents x 12%), so, by playing slowly, we left ahead (and full) every single time we went.
Watch for any promotions at casinos near you, and see if there is some way to turn a profit from them.
5. Become A Good Poker Player
A Gambler Loses Ten Times Running At Roulette Numbers
When you play against the casino, the house has the edge, but when you play against other players, you can have the edge if you’re good.
There are plenty of online tutorials on how to win at casino poker, but keep in mind that the house takes a cut of every pot, so you have to be significantly better than the other players to come out ahead.
As someone who has won money at poker (and chess) without much skill, I can tell you that the key is to play against weaker players.
Going against stronger competitors might help you prove something, but if you want to make money, look for tables with weak players.
6. Play In Slot Tournaments
Slot tournaments usually involve playing to see who does best in a set time, using machines set up with fake credits.
A Gambler Loses Ten Times Running At Roulette Game
These events encourage fast play and are meant to get people into the casino, where they might gamble their own money before and after the competition.
Googling “free slot tournaments vegas” turns up (at the moment) a couple options, including one tournament that cost nothing and has prizes of up to $500 in slot play (you may have to play it through a machine, and then you keep whatever you’ve won).
Even tournaments with an entry fee can be money makers, because the prize pool often significantly exceeds the total of the entry fees.
In other words, if you’re good, and you play in a dozen tournaments, you’ll probably win more than what you spent on entry fees.
7. Play A Biased Roulette Wheel
There are 38 pockets on an American-style roulette wheel, and a “straight-up” bet pays 35-to-1 when you win (plus you keep the bet). You can see that this is a losing proposition.
But what if, instead of each number coming up randomly 1-in-38 spins, some numbers came up more often than they should?
It happens.
When I ran a roulette table one of my customers made a profit of $80,000 over the course of 16 months or so. I met him at a coffee shop after I quit, to get the whole story. Here’s the short version:
He wrote down the winning numbers for 5,000 spins (it took weeks). The number 2 was winning an average of 1-in-28 spins.
He bet $5 repeatedly on that number. On average, he lost $135 for every 28 spins (27 losses), but won $175 (35-to-1 payout) when the number 2 came up, for a net profit of $40 per 27 spins.
There are various possible reasons for a bias, ranging from a sticky pocket (temporary) to manufacturing imperfections (a more durable bias).
The good news is you don’t need to know why a certain number comes up more often to take advantage. You just need to verify that it’s a true bias (which takes thousands of spins).
I’ll let others teach you more about biased roulette wheels, but I’ll warn you that it’s tedious work to find one, and even with an edge you’ll have losing nights (my customer sometimes lost over $700 in a night, even though he was far ahead in the long run).
8. Identify A Roulette Dealer Signature
Some dealers may habitually (unconsciously) repeat certain patterns when they spin the wheel and the roulette ball, which makes the winning pocket more predictable.
My experience? On a slow night with no players a pit boss and I each chose a number and alternated spinning the wheel and dropping the ball, betting a dollar for each win
I came out $14 ahead in couple hours, meaning I spun my number 14 times more than he spun his.
So I strongly believe dealer signature is possible, and even gambling expert Frank Scoblete agrees, but how often it happens in real play, and whether you can take advantage of it… well, who knows? But here’s what you might look for…
Note the number passing by at the moment the dealer releases the ball, and note the winning number. After doing this many times (with the same dealer) look for a pattern.
For example, a dealer might be so consistent (in the speed of the wheel and the ball) that the ball lands in a certain “section” of the wheel (in relation to the release point) more often than it should.
If it lands in a section that covers a third of the wheel, but lands there half of the time, you have a signature.
Now it gets trickier. If the target section is, say, the 13 numbers starting 4 pockets to the left of the release number, you have to identify the release number and quickly place bets on as many numbers as possible in the target section, before betting is closed.
Could it work? If not casinos wouldn’t be so quick to change balls, change dealers, and move roulette wheels when it looks like people are winning. Where I worked they did all three often.
Good luck!
9. Use Casinos For Business Networking
I heard a lot of conversations at my tables. Sometimes they resulted in players getting new clients or developing new business relationships.
And I learned about how to make money from scrap metal from one such conversation.
A Gambler Loses Ten Times Running At Roulette Games
It’s common for players to talk to other players at a blackjack or roulette table, which makes a casino a great place to network and find new ways to make money.
And watching how players handle those stacks of chips in front of them can tell you a little about whether you want to do business with them or not.
A Gambler Loses Ten Times Running At Roulette
10. Get A Casino Job
In 1994 I was making $14 per hour dealing blackjack and roulette. A BLS inflation calculator tells me that’s the equivalent of $24 per hour in today’s dollars.
And, in fact, a friend who still works at that casino says she makes over $20 per hour.
Dealing table games is just one of the many positions you might find at a casino near you. One of my coworkers started as a surveillance officer with no experience, and used the knowledge and experience gained to later build a successful business selling surveillance equipment.
Other positions include slot machine tech, bartender, waiter, cage worker (handling the money), and pit boss.
Also, working in a casino usually means you’re forbidden from gambling there, which might be a good thing for some readers.
Save Money By Taking Advantage Of Casino Freebies
Some casinos have free events at which they put out snacks or even full meals. Other casinos offer inexpensive meals at their restaurants. Watch for these deals as a way to save money on a night out.
Even the free drinks offered by many casinos can make for a cheap night out if you know what you’re doing.
For example, my wife and I play 5-cent slot machines, set the speed to “slow” (keno machines usually have three settings), and, by the time we have lost a couple dollars we’ve had a few drinks and some fun.
Turn $60 Into $600 By Betting The Right Way
Maybe you like to gamble, and you’re smart enough to limit your losses. But how you play still matters.
A Gambler Loses Ten Times Running At Roulette Sites
For example, with a $60 bankroll, if you bet $5 per hand at a blackjack table you can often play all night, but you’ll never be very far ahead at any point.
That’s great if you want to sit there and enjoy the free drinks.
But to win big you need to make bigger bets at some point. For example, if you’re $20 ahead, bet $10 per hand, and if you get further ahead, bet $20 or $40 per hand. To summarize:
Bet the table minimum when you lose, and bet more and more when you’re winning.
Most of the time you’ll lose your $60 faster this way (because you’ll often those big bets), but it gives you a chance to win big from time to time.
I saw many people turn $60 into $600 over the years, and not one player did it by always betting the table minimum.
You have to “press your luck” to win big. Just be sure to bring a limited amount of money, so your losses are not a big deal.
Final Thoughts
You may like to gamble, and if you limit your losses, it’s affordable entertainment. Even better, if you time your casino visits to coincide with promotional events you might get some free food and drinks.
And finally, if you’re willing to do the necessary work, you can even make money in a casino, and without really gambling.
If you know other ways to make money in a casino, share your ideas below … and keep on frugaling!