Betting Strategies

A betting strategy is a set of guidelines created by a player to help him or her maximize winnings, or to at least limit losses when playing any gambling game. A betting strategy can supplement the house edge, but it cannot eliminate it; for example, it can help to increase expected wins, and limit bankroll drainage during periods of high variance, with the aim of allowing a player to play for longer, create more opportunities, and increase the statistical likelihood of coming out ahead. What these strategies cannot do is remove the concept of variance from the game, nor can they alter the RTP percentage of a game, because they will only ever be applied to a percentage of the total bets placed.

The gambler’s fallacy stems from the misconception that variance evens out over sequences of random events. While it is true that variance is observed to do so over very large numbers of iterations, it is equally true that, when observed over smaller numbers of iterations, greater or lesser fluctuations are evident; for example, a player has been known to close from 600 wins to ZERO losses without once losing. For this reason, a well-planned and limitative betting strategy can enable a player to keep playing when everything is going wrong, and increase the likelihood of being at the table when the variance decides to revert back to RTP on any given game. Players should take care of whatever gambling budget they have available; thus, they will always be able to play the game they enjoy at the sites that make it most enjoyable.

There are a number of well-known strategies that casino games and sports betting players rely on; some base their principles on sequences, others on odds. All strategies attempt to achieve the prior objectives; to allow players to play more for less, and with a greater likelihood of coming out ahead in the long term. In this chapter, we will explore some of the most widely used betting strategies.

The phrase gambling online refers to the act of playing gambling games over the Internet. These games consist of those described in Chapter 1: gambling with a banking function, gambling without a banking function, betting on contingent events, and games of skill for money or other valuables. Gambling is performed for monetary winnings or other valuables. Gambling online takes place over a computer, console, handheld, or mobile device. The Internet is an international interconnection of computer systems that operate using the transfer control protocol/internet protocol suite to communicate with one another. Online gambling permits such wagering to be done via the Internet and other computerized networks.

The issues presented by this medium differ from those of traditional gambling in-person, on paper, and through a telephone. The distinction lies in several factors. First, the ease of access to gambling online makes it more appealing. Gambling activities can take place virtually anytime and anywhere. Second, gambling’s social stigma, which inhibits some consumers from participating, may be greatly diminished in private, which appeals to princes and paupers alike. Third, the anonymity of online gambling enables some patrons to hide their gambling from people who would otherwise shun them. Fourth and perhaps most relevant, to both prior issues, gambling online is often more convenient. Transactions are conducted instantly. And, wagering at any time on anything imaginable is but a click away. If gambling is allowed for private benefit-cost considerations vary in favor of legalization. Problem alleviation considerations. However, the demand for gambling online does not operate in a vacuum. Other entertainment forms compete against it. Many offer instant gratification fulfillment.