Tag Archives: strategy

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!

Wanting to be a winner

I want to be a winner. And if you are reading this site, then I guess you do too.

To be a winner, you need to the skills to win.  Let’s not kid ourselves, those skills are not always easy to get.  If they were, then everyone would have them and everyone would be winning. But we both know, that they’re not.

The simple fact is that they haven’t put in the effort and made the investments so that they can be winners.

Winning in a casino requires knowledge and discipline.

For me, knowledge and discipline meant breaking bad habits.  If you’ve ever had bad habits, eating badly, not exercising and so on, you will know what I mean.  Bad habits in the casino were a time and money drain.  They made my life miserable.

To win I needed to break those habits.  I had to learn self-discipline. I had to learn the to think it systems top make sure that I would always win.

Professional gamblers understand this so that they  really can make a money from gambling.  They work hard, but through diligence they succeed.

That’s the goal.