June 20

0 comments

14 things that you need to know about casino winnings

One of the biggest draws of gambling in judi slot online and rtp slot terbaru is that people dearly hope to strike it rich. Winners have been known to take home huge fortunes for the sheer luck of a roll or throw. Here are some things you should know about casino winnings:

 

  1. The odds are stacked against you. A casino’s goal is to make a profit, not to give away money, so there’s no such thing as “luck.” The odds are in favour of the house – often by as much as 8%. The house edge is how much money you need to wager to break even. For every dollar you wager, the casino makes 56 cents on every dollar you lose.

 

  1. Win big, and the house makes a lot of money. The Las Vegas Strip’s casinos average a 25% profit margin (similar to a brick-and-mortar retailer’s gross profit). Home games are only slightly less profitable, with bricks-and-mortar stores only earning 7% – 8%. Also, the more money you put on the table, the higher your chances of cashing out big. At a brick-and-mortar store, about 90% of sales are repeat customers; at a casino, it’s 50%.

 

  1. You’re only getting ’em back half the time. The odds of busting out of debt at a brick-and-mortar store are the same as winning on slot machines – five to six times out of ten – and many dealers say they want to break even so that they can raise their families. However, gamblers lose money at a rate significantly higher than 7% – 8%.
READ MORE:  Is forex trading halal or haram in Islam?

 

  1. You’re only getting ’em back half the time. The odds of busting out of debt at a brick-and-mortar store are the same as winning on slot machines – five to six times out of ten – and many dealers say they want to break even so that they can raise their families. However, gamblers lose money at a rate significantly higher than 7% – 8%.

 

  1. Know what you’re getting into. The average net win per hand in cash poker games is $1, while a blackjack player typically wins $0.22 per hand and slots players reap an average profit of $0.50 per coin played.

 

  1. Most casinos allow you to pay off your debt by making repeated visits, but it can take years of play to pay off a debt of $10,000 at a brick-and-mortar store. At a casino it can take weeks or months. If you stop gambling for more than a few days – or even a year – the house’s “toll” on your winnings will start increasing, meaning you’ll have to keep betting more money to break even again.

 

  1. Only half the players are in it for the long run and will break even each time they play. People come into casinos with fixed budgets, known as “fixed-limit” players. Fixed-limit players are betting the same amount of money each time they play; if you stop for a few days, or maybe several weeks or months, you’ll have reached your limit and will have to start raising your bets again so that you can break even.
READ MORE:  CBD for Sex Drive: Research And Benefits

 

  1. Casinos also offer “penny slots” with wide payoffs. Penny slots aren’t expected to make a profit like traditional slot machines – instead, these games are designed to attract customers aggressively playing the highest-value coins (looking for large winnings) who want an opportunity to play with the house’s favoured edge of 1.5% – 2%, a rate some call “alchemy at work.”

 

  1. There’s no such thing as “free.” Gambling debt is not something that can be paid off with a lump sum of cash, like a mortgage. This is because all money wagered on the tables, slots and card games represents the same amount of money each time you play.

 

  1. There’s no such thing as “free.” Gambling debt is not something that can be paid off with a lump sum of cash, like a mortgage. This is because all money wagered on the tables, slots and card games represents the same amount of money each time you play.

 

  1. Number 11? Don’t take this lightly. There are many stories of big winners, who think they are so lucky and good that they never bet more than $1 on the table, but play all day long in the casino. When they finally get enough courage to go for the big money wagers, and lose, it’s back to their old ways of playing $1 pays.
READ MORE:  Practical Guides For Saving Money In Bristol

 

  1. Let’s play the lottery! Many people who win state-run lotteries forego retirement savings, stocks and cars – because someone else is paying them to gamble. The United States lottery represents $65 billion in annual sales. People who claim they will invest the money they win are often throwing good money after bad. After all, if this is how they invest their hard-earned money, what makes them think they will make better investments with the lottery cash?

 

  1. Some gambling experts advocate this strategy: to bet on a single number in the Mega Millions or Powerball and play daily until it is drawn. This method of betting is known as “chasing”.

 

  1. Can you really win big at the casinos? In October 2003, a player claimed to have hit the elusive jackpot at the Colorado Grand casino; he won $128 million. The jackpot was split between two winners, who cashed their checks just three months later. This story may have sounded like fiction, but researchers found that seven percent of rare “mega-jackpots” were paid out in three months or less, and 86 percent were paid out in six months or less. Still, gamblers who expect to win mega-jackpots are largely delusional – most of these winners had just one shot on any given day to win – and that one shot came at a cost of $2 million or more each time it appeared.
READ MORE:  Best Free Online Slots For Mobile

 

Conclusion

So, what’s the point of all this? It’s simple – gambling is a game of chance, and trying to “beat the odds” only leaves you frustrated. Sure, you may hit it big occasionally, but your chances of winning are low. The best thing you can do is set a limit for how much you can afford to lose. Stick with that limit and if you win more than your limit, cash out the excess and use it for something else that’s more important to you in the long run. If not, be sure not to play longer than your planned time frame – otherwise, that big win could turn into another big loss if you’re not careful.


Tags

You may also like

Best Free Online Slots For Mobile