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Since gambling first began a very, very long time ago it has inspired countless stories, fables, theories, criticisms, and legends. Here I take a look at some of the modern world’s most frequently cited casino myths to set the record straight.
#1 - There is a winning system: The biggest, longest standing and most dangerous myth out there is, of course, that gambling can become a winning proposition for anyone but the casino. It is also divisive - leading to a stark split between those who accept reality and those who cling to the delusion that they can control/predict winning results.
Before shredding this myth completely it is worth distinguishing between inevitably doomed systems and advantage play, which can turn around the house edge. Card counting in Blackjack, though it requires money, time and patience is an example of the latter.
Betting systems use a structured system of bets, supposedly guaranteeing wins or making them more likely. However, Patrick Billingsley, a mathematics professor and an authority on gambling, famously stated that ‘no betting system can convert a subfair (i.e. losing) game into a profitable enterprise’. The Martingale - a particularly famous strategy, requires players to double their bet each time they lose. Not only does this lead to huge bet sizes very quickly but it makes absolutely no difference to the house edge - it can easily be shown that the Martingale, or any other system, is still a losing play.
If there’s one thing casinos are better at than relieving people of money, it’s holding onto that money afterwards. Thieves throughout the ages have successfully broken into targets described as “impregnable”, “unbreakable” or “the safest place on earth” with almost embarrassing regularity including banks, museums, and the Tower of London. As far as we know though no thief has ever successfully penetrated a casino vault and returned with the proceeds. In this article we’ll take a look at the vast security operations behind the scenes, trying to maintain that perfect record.
Casinos generally aren’t too concerned about a customer’s winning session. Big wins act as rare, good PR and, in any case, are normally lost straight back to the casino. But what if someone were to dramatically up the stakes? Only in hindsight might a manager wonder, as the mysterious high roller sails into the night with a smile and the contents of the vault, did he know something I didn’t?
Breaking a casinos bank means to win so much the casino does not have enough cash on hand to settle the debt immediately. In the entire 300 year history of casinos in Europe this has only come to pass a handful of times, each time immortalised in casino legend. The men and women behind these coups are a motley bunch of gamblers, mathematicians, confidence men and entrepreneurs each of whom did the impossible and beat the house.
Can you really make a living as a professional gambler? The authors of “How to Make $100,000 a Year Gambling for a Living,” say it’s all about knowing which games are beatable and how to beat them. David Sklansky and Mason Malmuth give detailed instructions on how to make money at games including sports betting, blackjack and poker. With all these factors spurring people on to quit their day jobs and become full time gamblers, the question is, should you take the hook?
Everyone dreams of making it big don't they? Hitting the online casino jackpot, winning the lotto, being given a six figure salary at work, it could all change your life forever. But what would you do if you suddenly had more money than you could spend? We have a look at the ultimate bucket list, or things to do before you die, if you're loaded.
Forget buying a house next to your favorite celebrities, in the middle of Los Angeles, if you want to really show off you need to build your dream house! Hire an architect, in fact buy an architect if you want, and give them the most ridiculous of demands. If you want a water slide instead of a staircase, you can have it! If you want a whole room made of chocolate (like Willy Wonka), then you can have it! None of this boring 6 bedroom, 6 bathroom and a swimming pool house in Beverly Hills.
Traveling round the world seems to make nearly everyone's bucket list, but it is a little bit predictable. If you want to do it properly, then invest in your own transport. It could be a luxurious cruise ship, big enough to take your friends and family. Or a private jet, if you're feeling selfish. You can visit wherever you want, whenever you want, without having to deal with other passengers. Just remember to hire some staff, unless you can fly a plane, or drive a boat yourself!
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