April 11, 2008

Smart Gambling

Posted in gambling at 12:06 pm by kimsan23

Gotcha there! If you’re not an uber-psychic-math-electronic-super-villain-whiz, sorry to say but there is no such thing as smart gambling. I’ve done casinos for fun but never for real serious gambling. Some people win, but not everyone is lucky.

I’ve tried gambling in small casinos. My first time was when I was 20 years old on ship to Alaska and I won $50 from spending $2 on a slot machine. Call it beginners luck coz after that, I lost $20 to the same machine. I still think I played it smart by keeping my $28 win ($2 out of $30 was the investment). At that time though, none of that $28 went to any bank account.

Two years ago, I went to Las Vegas to see and enjoy the sights there with some family members. I did not want to gamble, I was always afraid to lose more than what I invest. Still, I was prodded by my family to try. I said I would if they gave me money! I was handed $200 and told that it was okay to lose it but if I won, I kept the money and the profit.

I played the slot machines. Call it first-time casino luck, I didn’t win jackpots or anything but I won about $120 on top of the $200. At the moment I won, I stopped. I gave back the $200 (delicadeza) and kept my earnings. Now, that money went to pay for my credit card bill. šŸ™‚

If you really want to try some local gambling you can do the popular “ending” game. I’ve won in this a few times, but I had to bet on 5 or 6 combinations to win but of course, the returns are really small. I’ve tried the lotto — too many numbers! I didn’t even win P20.

Gambling is fun but doing it for a living is not. Investing too much in gambling could get you into a lot of debt. If you wanna gamble, it’s really okay as long as you have a budget for it and are ready to lose your investment in a blink of an eye.

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8 Comments »

  1. Ross said,

    There’s no such thing as smart gambling but there is playing smart. First lesson to learn and probably the hardest is knowing when to stop. Quitting while ahead is key. I’ve seen a lot of people go bust on the bacarrat table just because they kept pushing their luck. Second lesson is knowing what to play. Knowing the odds separate losing gamblers from winning gamblers. Slots will never be in the players’ favor in the long run. Same with the lottery and jueteng and ending and bingo. Same is true for sports betting. And it’s also true for any casino table game where the player is playing against the house. The house will always win.

    http://finaltabledonkey.blogspot.com

  2. Ross said,

    How much do you currently have? How close/far are you from your goal? Are you depending on just your saving prowess to get your million? What’s your plan?

    http://finaltabledonkey.blogspot.com/

  3. kimsan23 said,

    Hi Ross! Nice to see you back here. On your first comment about gambling– I agree: the house always wins!

    On your second comment, no, I am not depending on my saving prowess alone. I’m currently looking at time deposit rates for maybe 50k. I will definitely write about which ones I am currently looking into as well as the one I will eventually take.

    I’m not 20% near the million yet– so make a wild guess :).

  4. kimsan23 said,

    Oh and Ross, thanks for linking me in your site.

  5. pinaysaver said,

    I just watched “21”, a movie about really smart kids counting cards in vegas casinos… in the process, they made a lot of money but ran into some serious trouble… I’m all for big returns and playing smart but I personally won’t consider gambling as a strategy for growing money. Maybe it’s also because I’m unlucky.. never had that beginner’s luck everyone’s been talking about! hehe

  6. kimsan23 said,

    Hi pinysaver! Thanks for dropping by! I saw your blog! How I wish I could earn that way while living in Manila. Keep on reading, I enjoyed your blog as well!

  7. cramnhoj said,

    If you’re talking about smart gambling then you should know that almost all gambling games are skewed in favor of the house, in layman’s terms you’re more likely to lose than win. So trying gambling as an earning endeavor is just not feasible.

    However, the exception is blackjack, as mentioned like in the movie “21”, there is a way to turn the odds in your favor. Basically if most of the cards left in the deck are the higher numbers then you can start betting bigger as you’re more likely to win now. Take note that I said likely, as in you won’t always win just because of this. So what the pros do is they increase their bet size but make sure they’ll still have enough money for betting to last till the end of the current deck. This is what is known as card counting, and due to its effects, is considered illegal. You don’t need to be a mathematician, just really good at memorizing. There are actually people who have demonstrated that they’re able to memorize the sequence of several decks of cards, meaning if they played blackjack they’d know if the odds have switched in their favor. As such, these people are usually banned at casinos.

    So what I’m saying is that you can’t really depend on gambling as an earning means, you can do it for your entertainment, but that’s an expensive way of entertaining yourself in my opinion.

  8. kimsan23 said,

    That is why I do not gamble like this. I’d rather do the money market if I had the guts or the funds for it.


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