Tag Archives: gambing

Essential Gambling Concepts: Expected Value

A key concept when you want to win in the casino is the idea of ‘expected value’.

This is an idea that that casinos use to take money off you and that you can use to take money off the casino.  The expected value is the amount that you can expect to win (or lose) each time you bet a certain amount.

‘Expected value’ is therefore your win rate (or the casino’s win rate) for each game you play.

For example, if bet $1, and your expected value is $2 then you will make $1 every time you play.  On the other hand if your expected value is 50 cents, then you expect to lose 50 cents every time you play. This is not the sort of game that you would ever wish to play.

The trick is only to play games where you have an expected value that ensures you win!

Why this Site

I started this site because I think there are ways to start winning.  I was sick and tired of always losing.  My friends and I would go down to the casino, have a few drinks and start playing.  We’d feel good when we won, and not so good when we lost.

Often times the nights would end up with each one of us drifting home disappointed and angry.  Our wallets would be empty.

I started visiting casinos alone determined to make my money back and be a winner!  I thought that without the distraction of my friends I could concentrate on the game.

I started seeing patterns in the roulette results and thought I could bet.  I won a bit.  But lost a lot.

I was even losing more than when I had been playing with my friends.  Perhaps they’d just distracted me from my total inability to see patterns in the roulette wheel, the craps dice and the black jack cards.

There had to be a better way.  I withdrew from gambling for months.  I shunned my friends who had introduced me to the casino making excuses when I suggested that we go out together.

Instead I started hitting the library, and bookstores.  I looked online to find the mathematical basis of gambling and winning at gambling.

I found out that I was not alone. There were thousands of others like me, other truth seekers.  I found that there had been people throughout history who had been on a similar quest as me.  They too had wanted how to find out how to win at gambling, how to beat casinos and come away smiling and full of pride.

This is a blog about this journey.