50 Plus Finance: Gambling

Showing posts with label Gambling. Show all posts

Thursday, May 6, 2021

The House Always Wins How Vegas Weeds Out the Cheaters

Assuming that everyone would like to win big at Vegas (for those who wouldn’t want to walk out of a luxurious casino laden with cash can be considered an outlier), there seem to be two kinds of people in the world: those who see themselves as a member of Danny Ocean’s Ocean’s 13 crew, who “liberates” the money from those who either don’t deserve it or who misuse it, or those who consider themselves the luckiest person on earth; someone whose number was just called for a dose of cosmic justice.

Needless to say that the powers that be in Las Vegas prefer the latter group of people, who make a once-in-a-lifetime memory and leave the casino with a heart full of joy and ready to book next year’s return vacation.

Those in the former category, the “criminal masterminds” who stroll up to the table﹘sometimes with a nearby accomplice in tow﹘and begin to execute on a plan to take the money and run like some sort of modern-day Butch Cassidy, is not particularly well-liked in Vegas.

In fact, when it comes to defending the structure of Vegas gaming as a whole, these would-be outlaws are considered less like folky ne’er-do-wells and more like enemies of The State.

Nevada has ratified some very strict language on how cheaters are to be dealt with, and the casinos themselves keep a watchful eye on as much of the proceedings on the floor as possible.

For all intents and purposes, it’s fair to say that Vegas has declared war on all the “Danny Oceans” who roll into town, and they’ve beefed up their security to prove it.

Law and Order

Of course, there will always be the people who justify criminal actions by saying “but the House always wins! That means the owners are cheating us!”

While that would certainly be an earth-shattering argument with major repercussions if proved, the fact of the matter is that Vegas owners don’t have to cheat.

By running the game and setting the rules, all the casino has to do is sit back and let probability work in its favor.

Because the default result for any losing hand or busted spin is to leave the money on the table, the casino has no incentive to risk losing its gaming license.

And lose it they would, should their cheating be found out. According to Nevada gaming regulations:

Anyone can be a cheater: “It is unlawful for any person, whether the person is an owner or employee of or a player in an establishment, to cheat at any gambling game.” (NRS 465.083)
Cheating can include failure: While merely thinking about cheating isn’t considered a crime, an “overt act” toward committing the crime﹘even if it falls short of completion﹘is considered liable for prosecution (NRS 193.330)
Conspirators are criminals too: Very rarely are crimes conceived in a vacuum, with no help from the outside. Any group of two or more people who make an agreement to violate the law are criminals. This includes those who aren’t even at the casino when the attempted crime occurs. (NRS 199.480)
Counting cards provides a strange loophole: According to the strict definition of the law, counting cards﹘that is, keeping track of the cards that are dealt by making a note of them in your head﹘is not illegal because it’s a mental skill; there’s no conspirator or apparatus involved to cheat the system. However, if a casino suspects someone of counting cards, they have the right to deny service and that person may be blacklisted from entering again. If they do, the casino can charge them with trespassing and throw them in jail. (NRS 207.200)

To Catch a Thief

Casinos market themselves as luxurious getaways that provide endless amounts of fun with a wide variety of games. It is very much in the interest of the establishment not to bring down the mood on the floor, or else people will start to associate negatively with the casino. In order to maintain the air of good feeling among the players but still keep an eye out for criminal actions, the casino keeps the anti-cheating security expansive, but well concealed.

When it comes to detecting cheaters, casinos work in layers, making sure there are redundancies all over the floor so that nothing goes unnoticed or unreported. These measures include:

Video surveillance: A given, but an essential tool nonetheless. While security cameras are able to inform security guards of wrongdoing as it happens, the video record they provide to a court of law is the true fulfillment of their potential.
Casino staff: The cheating “first responders” will always be those who work the tables and who wander the floor. These individuals have been specifically trained to spot suspicious activity, and will inform security to keep you zeroed in while you are playing.
Mathematical algorithms: The performance of every table is being monitored to ensure that nothing out of the ordinary is happening. This is determined by the use of statistical mathematics that tracks how likely the win streak of a player is. Anything that consistently falls outside of the realm of the believable is put under harsher scrutiny.

Visiting a hotel and casino is one of the best vacations out there, and gaming institutions strive to make sure that everything remains fun for everyone involved. When considering “extracurricular efforts” to walk away a winner, it’s best to remember the anti-smoking ads of the late ‘90s, which proclaimed that “the best way to quit is never to start.”

Never bet more than you can lose, avoid using the ATMs, and have fun. Then come back next year and repeat.

Tuesday, October 9, 2012

5 Good Reasons Why You Should Play Poker

English: Shankar Pillai after winning the $3000 No Limit Hold 'Em event at the 2007 World Series of Poker (Photo credit: Wikipedia)

Many inexperienced poker players ask themselves 'why play poker?' The answer is simple: many play poker not only because it is fun, but also because of the challenge it offers intellectually. Poker is a game that provides mental stimulation and requires certain skills, where numerous competitions take place and where poker players can earn thousands of dollars. Above all, it is entertainment and a way to make money.

1) Make Money on Poker

The first answer to 'why play poker?' is money. Poker is a game with big money, and this is instrumental in getting many people to start playing poker. Although a poker player can fold many times in a single game, there will always be a patient player who goes home with the big win.

Poker is a gambling game, like most other games at a casino, and with enough practice and knowledge, any player can make money from poker. You can either spend a few hours each week to learn poker, play for fun or earn a few pennies, or you can make poker your full time job - be a pro and make poker your main income, it all depends on you, your determination and what you want.

Making money at poker is of course not quite simple and you need some time to learn the skills, techniques and game and a lot of patience, but it is achievable if you decide to learn the rules of poker and strategies that are the basis to make money in poker.

2) The Intellectual Challenge of Poker

The second reason to play poker is the intellectual challenge the game allows. As mentioned earlier - poker is not a gambling game, although an element of chance is present, it is more an intellectual challenge where a player has to use his full intelligence to win.

The intellectual challenge of poker varies from player to player: some are bluffing the real challenge, while for others it is the intellectual challenge it takes to read the opponents' hands. Successful poker players get a kick from learning how a system works and how the system can be broken.

3) The Social Aspects

Apart from the intellectual challenge and the money that can be earned by playing poker, this game has a different attribute, and it is the social aspect of it. Poker is a social game - players sitting around a card table can play and talk for hours, which can strengthen their friendship. Poker is offering you a chance to meet new people and make new friends while playing your favourite games.

In many TV shows you can watch the traditional 'boys' nights', where some guys sitting around a table and play poker into the wee hours of the night, it is a typical example of the social aspect of poker - playing, talking and enjoy at the same time.

4) No Limit on the Game

Another great reason to play poker is that there is no ceiling on what you can do with this game - there are always bigger tables with more money, another competition to participate in. There is no limit to poker, just the ones you decide.

You can choose to play 'home games' with little risk or you can go all the way and don’t stop until you've reached the biggest poker events like the World Series of Poker or the World Poker Tour, where millions of dollars are presented as first prize.

5) The Thrill of Competition

Every game that surrounds money is exciting in its own way, but poker is a greater excitement, as it not only is a game of chance, but a game where the most qualified and skilled player wins and not the lucky ones. Basically this game is a tense competition between the players and a thrilling event that brings out the best and worst in people.

Remember to be a responsible online gambler and poker player and play for no more than you are willing to lose. We wish you luck!

Monday, September 10, 2012

Why Setting a Budget and Limits When Gambling is Important

Slot machine. (Photo credit: Wikipedia)Whether you are unaccustomed to gambling, or have been an experienced card or slots player at live casinos, it is crucial that you set up a gambling budget and see that you follow it.

It is not a secret that people who gamble frequently become hooked to the rush they get when they start; and like with any addiction, those who are addicted to gambling discover themselves wanting to up the ante in order to have the same feeling of exhilaration that they did in their early gambling days.

Take it slow

Those who become addicted to gambling may find a need to step-up the amounts that they bet to increase the thrill, and hopefully increase the size of the jackpot available to them; although while their risks can increase, their winnings seldom do and they find themselves losing everything else that is significant in their lives, from family and friends to the careers that they worked so hard to establish.

With safety and temperance in mind, gambling can be a exhilarating form of amusement, and the best way to prevent a slip into gambling addiction is to set up a budget and exercise self-control to assure it is honored.

Smart gamblers need to look at gambling as a form of amusement; while winning can be a nice perk, the expectation should be to lose and any money spent should be perceived as an investment in the pleasure of your game of choice, whatever that may be. Consider what you'll be able to afford to lose when playing at online casinos and set a weekly or monthly maximum.

If you’re using an alternative payment method like credit cards to fund your virtual casino account, be sure you transfer no more than that maximum and as soon as you have spent it, you need to stop playing and not be enticed to transfer more money.

In order to make your gambling budget go further, select casino games that are appropriate based on what you have to spend. If your weekly or monthly gambling budget is small, do not pick the high-roller Roulette tables and risk losing all your money in one round or you will not feel like you satisfied your desire to gamble.

Rather, check out the Slot machines like gladiator slots, Card Tables, Table Games or other casino games which allow you to bet small amounts so you get to bet more before you reach your budget.

Play smart

Naturally, with gambling at internet casinos, it does happen, but you can’t expect to win any major jackpots.

If you do happen to win, it’s up to you whether you stop while you are ahead and walk away with your winnings or keep on playing at the risk of losing it all.

Just remember, that once your account is empty, there’s no more online casino gaming until you have reached your following budgeted period.

Have a gambling budget

Coming up with your gambling budget is a pretty easy procedure. Look at the monthly expenses for your family; everything from housing, to food, to your family activities.

Make certain you consider any essential savings amounts, and leave a buffer for unexpected expenses, but then any amount remaining, after that, can make up your gambling budget which is never to be exceeded!

Gambling at online casinos can be an amusing and entertaining interest, but safeguards need to be taken to ensure it remains a safe experience that doesn't have a damaging affect on your financial security or your relationships with the important people in your life.

As soon as that line is crossed, it’s probably time to reconsider the reasons why you gamble and change your gambling habits. But if you are a responsible gambler who can follow a budget; relax, enjoy, and have fun!

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Thursday, May 6, 2021