Casino Gambling For Dummies E-Book

Kevin Blackwood

• Herausgeber: John Wiley & Sons
• Kategorie: Lebensstil
• Sprache: Englisch

Seitenzahl: 600

Veröffentlichungsjahr: 2011

Beschreibung

Earn comps and avoid big losses Bet wisely, beat the house, and bring home the bucks! Crazy about casinos, but worried about losing your shirt? Relax! This hands-on guide is filled with insider secrets and tips for maximizing winnings and minimizing losses in the most popular casino games --blackjack, poker, craps, roulette, slots, and more. You get the scoop on everything from game rules and jargon to making the best bets (and knowing when to quit). Discover how to * Understand the odds * Develop winning strategies * Avoid gimmicks and bad bets * Manage your money effectively * Gamble on the Internet * Deal with the IRS

Leseprobe

Casino Gambling For Dummies

by Kevin Blackwood

Casino Gambling For Dummies®

Published byWiley Publishing, Inc.111 River St.Hoboken, NJ 07030-5774www.wiley.com

Copyright ” 2006 by Wiley Publishing, Inc., Indianapolis, Indiana

Published by Wiley Publishing, Inc., Indianapolis, Indiana

Published simultaneously in Canada

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Library of Congress Control Number: 2006926109

ISBN: 978-0-471-75286-8

Manufactured in the United States of America

10 9 8 7 6

1B/TR/RQ/QY/IN

D o you like to gamble? So do I. And so do the estimated 50 million people who set foot in U.S. casinos each year. In fact, Americans spend more money on gambling than on all sports, movies, music, and even gentleman’s clubs combined. Why? Because gambling is fun!

Gambling can be even more fun when you know what you’re doing. But learning how to do the right thing in a casino normally requires enormous intellectual and emotional investments that most people simply aren’t willing to make.

Here’s a great example of a play that a novice gambler would normally make: You see a $100 minimum blackjack game at a casino on the Strip in Las Vegas, but the casino across the street is advertising a $10 minimum game. Obviously the $10 game is cheaper to play, right? Wrong. In fact, you’ll lose less over time by playing the $100 blackjack game if you know a basic strategy.

“How’s that?” you ask. The $10 game likely has terrible rules and terrible payoffs that cost the uninformed gambler about 25 cents a hand, while the high roller’s game is set to make about 20 cents for every $100 you put in action. And the bonus? When you play the high-dollar game, you also earn spectacular comps.

Which game should you play? That decision depends on your bankroll, your stomach for action, and your availability to control passions on the game. Understanding yourself and the house advantage on every game is the core message in Casino Gambling For Dummies.

Kevin Blackwood is one of very few successful professional gamblers who know how to write and teach recreational gamblers — in everyday, common language. He shows how to evaluate the dizzying array of gambling games so that you can lose less money and have more fun, all while you’re pursuing this great pastime.

Have fun!

Max Rubin

Author and Blackjack Hall of Famer

Dedication

I dedicate this book to my father, Malcolm. He taught me long ago the value of a dollar and how to be a smart gambler — lessons that have served me well in life.

About the Author

Growing up in a conservative small town along the Maine coast, Kevin Blackwood never anticipated visiting Sin City. With aspirations of becoming a college professor, he traveled the usual roads of academia, earning bachelor’s and master’s degrees in religious education and Biblical history.

His journey took a sudden detour in 1984. While working on his doctorate at the University of Oregon, he learned how to count cards and started playing blackjack on weekends. His studies began to pale in comparison to the exciting world of gambling. And one day, after a futile effort to find a parking spot on the crowded campus, he bagged his plans to teach church history, quit school — and headed to Las Vegas.

Since then, Blackwood has lived what many would consider the American dream, earning big bucks while working only part-time, winning consistently at blackjack tables all over the world. More recently, he has jumped on the Texas Hold’em bandwagon, with several poker tournament wins under his belt.

His unusual life experiences inspired Blackwood to write a novel, The Counter (Wooden Pagoda Press). In addition, he is the author of Play Blackjack Like the Pros (HarperCollins), the most comprehensive guide to becoming a winning blackjack player. He has also written for magazines, including Casino Player, Midwest Gaming and Travel, Blackjack Insider, and Gambling.com. His TV appearances include the World Series of Blackjack (semifinalist 2005) and the Ultimate Blackjack Tour (finalist 2006).

Blackwood lives in Oregon with his wife of 25 years. They have two sons in college and a 22-year-old feline that is the most worshipped cat since the golden era of the pharaohs. You can reach Kevin by e-mail at Kevin@ kevinblackwood.com.

Author’s Acknowledgments

Any good book is always a collaborative effort. Several people took time out of their busy schedules to offer tips, suggestions, and insights. These include

Publisher’s Acknowledgments

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Contents

Title

Introduction

About This Book

Conventions Used in This Book

What You’re Not to Read

Foolish Assumptions

How This Book Is Organized

Icons Used in This Book

Where to Go from Here

Part I : Casino Gambling Basics: Everything You Need to Know to Start

Chapter 1: Casino Gambling 101: The Inside Scoop

Entering the Casino: What You’re Up Against

Playing the Games: What’s Your Poison?

Gambling Near and Far: Where to Find Casinos

Measuring Your Gambling IQ

Chapter 2: Taking a Quick Stroll Through the Casino

(Casino) Knowledge Is Power

Navigating the Casino Maze

Meeting the Casino’s Cast of Characters

Maintaining a Safe and Secure Environment

Chapter 3: Probability, Odds, and a Bit of Luck: What You Need to Succeed

Defining Luck: A Temporary Fluctuation

Understanding the Role of Probability

Examining How Casinos Operate and Make Money: House Edge

Calculating the Odds in Casino Games

Avoiding Myths, Magic, and Other Superstitions

Chapter 4: Managing Your Money in a Casino

Setting a Budget and Sticking to It

Looking at Casino Credit and Its Risks

Knowing When Enough Is Enough

Understanding Taxes and the Law

Chapter 5: Minding Your Gambling Manners

Dressing (And Acting) the Part

Playing Well with Others: Minding Your Table Manners

Giving Gratuities to Dealers and Others

Avoiding the Appearance of Cheating

Part II : Conquering the Table Games

Chapter 6: Will Bluff for Food: Poker

Uncovering the ABCs of Casino Poker

Betting the Farm (Or Other Parcels of Real Estate)

Checking Out the Most Popular Versions

Avoiding Poker Pitfalls

Chapter 7: The Easiest Game to Beat: Blackjack

Dealing Out Blackjack Basics

Preparing to Play

Betting Your Bottom Dollar

Playing Your Hand

Identifying Common Mistakes

Chapter 8: Rolling the Dice: Craps

Setting the Craps Stage

Walking through Craps, Step by Step

Relying on Strategy to Place the Best Bets

Avoiding “Sucker” Bets

Chapter 9: Spinning Wheel Goes Round n’ Round: Roulette

Getting the Spin on Roulette Basics

Betting: The Inside (and Outside) Scoop

Reciting Roulette Etiquette

Improving Your Odds

Avoiding Strategies That Don’t Work

Chapter 10: Not Just For High Rollers: Baccarat

Counting Down the Baccarat Basics

Stepping into Baccarat

Avoiding Baccarat Time Wasters

Chapter 11: Tackling the “Riskier” Table Games

Cruising for Caribbean Stud Poker

Betting in Circles with Let It Ride

Picking Up on Pai Gow Poker

Tripling Your Fun with Three Card Poker

Avoiding the Riskiest Table Games

Part III : Beyond the Tables: Slots, Video Poker, Sports Betting, and More

Chapter 12: Mastering the Machines: Slots

Understanding How to Play the Slots

Identifying Differences in Slot Machines

Getting a Handle on Slots Odds

Stretching Your Money at the Slots

Honing Your Slot Etiquette

Playing for Comps

Chapter 13: Scoring Big in Video Poker

Poker? Slots? Characterizing Video Poker

Playing the Game

Putting Your Money on the Best Machines

Playing Jacks or Better: The Best Bet for Beginners

Investigating Other Video Poker Machines

Chapter 14: Striking the Mother Lode: Keno and Bingo

Catching On to Keno Basics

Improving Your Odds at Keno

Figuring Out the ABCs of B-I-N-G-O

Calling Forth Winning Bingo Strategies

Chapter 15: From the Cubs to the Bears: Sports Betting

Defining Sports Betting: The Legal Kind, That Is

Leveling the Betting Field with Lines and Point Spreads

Placing Your Bet in a Sports Book

Rounding Up Sports Betting Differences

Understanding Handicapping Basics

Relying on Strategic Handicapping

Chapter 16: More than Just the Derby: Betting on Horse Racing

Identifying Different Racing Formats

Betting in a Casino: Inside the Race Book

Understanding and Reading the Sheets

Placing Bets in the Race Book

Getting a Hand on Horse Racing: Handicapping Basics

Part IV : Taking Casino Gambling to a Different Level

Chapter 17: Casino Gambling: Online and in the Comfort of Home

Mapping the Legal Landscape

Understanding How Online Casinos Work

Locating the Best (and Safest) Online Casino Games

Taking Advantage of Promos and Giveaways

Chapter 18: The Wild World of Tournaments

Sizing Up Tournaments: Which One Is Right for You?

Betting on the Most Lucrative Tournaments

Entering a Tournament (And Knowing What to Expect)

Strategizing to Eliminate the Competition

Part V : The Part of Tens

Chapter 19: Ten Cool Places to Gamble

Living Large in Las Vegas

Landing on Boardwalk: Atlantic City

Touring Tahoe and Reno

Cruising the High Seas

Rolling on the River (or Lake)

Exploring Native American Casinos

Collecting Chips in Connecticut

Striking Gold in California

Finding Hidden Treasures in the Caribbean

Joining the Jet Set

Chapter 20: Ten (Or So) Common Casino Gambling Mistakes to Avoid

Gambling at All

Failing to Keep Records

Bouncing Around Like a Pinball

Looking for Luck in All the Wrong Places

Giving Up Too Easily

Breaking the Law (of Averages)

Relying on Betting Systems

Being Seduced

Losing It Online

Taking It to the Limit, One Too Many Times

Overindulging

Blaming Others

Chapter 21: Ten Ways to Score Comps

Ask and Ye Shall Receive

Impressing the Boss with Club Card Mileage

Finding the Weakest Link

Betting More When the Boss Is Looking

Betting Less When the Boss Isn’t Looking

Making the Bathroom Your Second Home

Looking Like You’re Losing

Greasing the Wheels

Never Looking a Gift Horse in the Mouth

Behaving with Courtesy and Respect

Part VI : Appendixes

Appendix A: Glossary

Appendix B: Important Resources

Books

Magazines

Web Sites

Gamblers Anonymous

Introduction

The ancient Chinese and Egyptians gambled. Greeks and Romans loved games of chance. Julius Caesar sealed the deal for the biggest risk of his life when he crossed the Rubicon and pronounced, “The die is cast.” Even on this side of the pond, gambling has a long history. Native Americans have passed down tribal traditions that sanction betting, and forefathers of the United States funded the nation’s birth with lotteries. In fact, Thomas Jefferson allegedly harbored a passion for betting that bordered on the compulsive.

Today’s culture accepts gambling, too. Whether in casino resort areas, through state-sponsored lotteries, or in church bingo games, gambling has become a legitimate form of entertainment. But, as popular as it is, gambling has risks, particularly in casinos.

Here’s why: The folks who run the casinos are professionals who are astute business people with a successful formula for profit. They have the technology and resources to conduct research and development, to fine-tune their operational strategy, and to grow their business.

The average casino patron, however, isn’t a professional. He’s the one who thinks he can win his retirement in Atlantic City just because he takes his brother-in-law for a few bucks on card night. Or she’s the one on the Caribbean cruise who relies on intuition to pick the lucky slots. And that couple who went to Vegas just for the entertainment? They’re suddenly seduced by the roulette wheel before they make it to the next show.

A poorly prepared player — someone who doesn’t understand the games or the odds behind them — has virtually no chance to beat the house at its own game. Remember this fact: The Las Vegas Strip is an impressive stretch of elaborate resorts built one brick at a time from the losses of clueless sheep. The same story holds true for the casinos in Atlantic City, Tahoe, and Reno, cruise ships, Indian reservations, and riverboats. Inexperience, intuition, and lucky guesses are poor guides in casino gambling.

But you don’t have to follow the flock to slaughter. This book arms you with the knowledge to turn casino odds in your favor. I’ve won more than $1 million in casinos worldwide, so I know it can be done. Follow my advice, educate yourself, and get ready for a positive — even profitable — gambling experience.

About This Book

If you’re heading to Vegas, Atlantic City, your nearest riverboat gambling haven, an ocean cruise, or anywhere casino bets are buzzing, then this is the book for you. From blackjack to baccarat, from sports betting to slot strategies, I give you the essential information to help you succeed on all games and broaden your casino experience.

Casino games range in complexity and risk, so it’s critical that you understand those games and then choose the best ones for your gambling dollars. For example, you should know that blackjack and poker require skill, while slots and keno typically remove brains from the equation. Feel free to gamble your dollars any way you want inside the casino, but my mission is to steer you toward the best games (and away from gimmicks and bad bets).

In addition to carefully explaining the nuts, bolts, and winning strategies of each casino game, I offer overviews of important concepts, such as probability, money management, and the role of luck in gambling. Too many people neglect these dynamics; by mastering them, you improve your chances of winning.

I don’t view casinos as evil empires and dens of sin. However, they have no vested interest in showing you how to win or play smarter. Such information runs contrary to the primary goal of their business: to part you from your money. But in Casino Gambling For Dummies, I share the knowledge and tools to increase your chances of coming home a winner.

Conventions Used in This Book

Each game of chance covered in this book comes with its own vocabulary — gambling jargon — that helps you become a successful player. For example, to play craps correctly, you must know what a field bet is and why you should avoid it. To make money at blackjack, you want to understand the terms double down and insurance.

Starting to sound like the first session of a foreign language course? Don’t worry; it’s much easier than you think. I use the following conventions in this book to help you:

Each time I introduce a new word, I italicize it and then define it.

I put all Web sites in monofont.

I use bold text to indicate keywords in bulleted lists or to highlight the action parts of numbered lists.

What You’re Not to Read

If you only care about the games, you can skip the sidebars (framed in gray boxes) throughout the book. They serve as asides, anecdotes, or examples, but they aren’t critical to your understanding of the game. In many cases, however, they clarify the principles and tactics in that chapter.

Foolish Assumptions

Call me psychic, but I’m assuming you picked up this book because you’re open to the sport of casino gambling. I make the following assumptions about you, my dear reader:

You’re preparing for an upcoming visit to a casino and want to understand the basics and correct protocol before entering that foreign world.

You may be familiar with most games, but you simply want some tips to improve your performance and skills.

You want to win when you gamble in a casino.

You also want to have fun. (Sure, casino gambling is entertainment, but it’s a lot more fun when chips are flowing in your direction.)

Are you an expert who doesn’t really identify with these assumptions? Don’t worry. I provide a few advanced tidbits for the more experienced gambler as well, so you don’t feel left out.

How This Book Is Organized

Like other For Dummies books, each chapter is self-contained, so you can read only the chapters that interest you most. This modular feature allows each section to stand alone, without demanding that you read the rest of the book. For example, if you’re anxious to throw some dice, feel free to fast-forward to the craps chapter.

That said, the book does have a logical sequence, and the following sections give you a better idea of its five major parts. (You can also check out the table of contents and index to see what interests you.)

Part I: Casino Gambling Basics: Everything You Need to Know to Start

Part I is a quick overview of the fast-paced, adrenalin-pumped world of casino gambling. The first chapter provides the big picture of casino gambling. Chapter 3 looks more closely at odds, probability, luck, and house edge. In Chapter 4, I give important money-management tips, including how to report your winnings (and losses) to Uncle Sam. The last chapter covers gambling etiquette and protocol.

Part II: Conquering the Table Games

This part examines the most popular table games, starting with poker. I explain the rules of several different types of poker and provide some strategy tips from well-known stars, such as Phil Hellmuth and Annie Duke. This part also includes chapters on blackjack, craps, roulette, and other table games.

Part III: Beyond the Tables: Slots, Video Poker, Sports Betting, and More

In Part III, I cover a wide variety of casino topics. First, because slots are the biggest cash cow for casinos, I offer practical, no-nonsense advice on which ones to play and, more importantly, which ones to avoid. I also include a chapter on video poker, where I analyze several games and offer optimal playing strategies. Chapter 14 focuses on two popular games: keno and bingo. Finally, I show first-timers how to navigate the complex, high-tech sports books in order to place bets on your favorite sports team or horse.

Part IV: Taking Casino Gambling to a Different Level

This part is short, but it has valuable information. Although most of the book focuses on casino gambling, I offer a chapter in this part on online casino gambling. The chapter includes guidelines for staying out of trouble in that murky yet potentially profitable arena. I also provide a chapter on the current craze of tournaments, which comes from the explosion of TV poker matches.

Part V: The Part of Tens

Every For Dummies book ends with the famous Part of Tens. Mine includes — drum roll, please — ten great places to gamble, ten mistakes to avoid when gambling in a casino, and ten really cool ways to score comps.

Part VI: Appendixes

This part includes two helpful appendixes. The first one is a handy glossary to keep all these casino gambling terms straight (or is that flush?). The second appendix provides additional resources for delving deeper into casino gambling.

Icons Used in This Book

Icons are a signature feature of ForDummies books. They help draw your eye to specific types of information. And after you have read the book, the icons provide a great guide for a final review before hitting the casino.

This bull’s-eye denotes a suggestion that can potentially save money, win money, or help you play better. Mastering these tidbits can keep you on the winning road.

Casinos have numerous pitfalls that trap novice gamblers. This icon acts as a caution, a red light that guides you away from an action or aspect of gambling that’s potentially harmful.

When you see this sign, look for critical information that you want to take away with you — key concepts that come up repeatedly when you’re gambling. Remembering these pointers can help you stay on the road to success.

Information after this icon can help you understand the odds behind casino bets. Educated gamblers choose the best games and bets, greatly increasing their chances of coming home a winner.

Where to Go from Here

The best place to begin is Part I because it sets up the remaining chapters. This section covers the gambling basics, orients you to casinos, and tells you how formidable a foe you are up against.

From there, just pick the chapters that appeal to you. Scan the table of contents or index and find the topics that interest you. Feel free to frolic — there are no rigid road maps to follow in Casino Gambling For Dummies.

I can’t guarantee you’ll hit a jackpot after studying this book. No one wins all the time. But knowledge is power. And I’m guessing you want to find out which games offer the best odds and the best bets. If so, you’ve come to the right place. And odds are, even if you don’t come out a winner, this book can guide you toward a great casino experience.

Part I

Casino Gambling Basics: Everything You Need to Know to Start

In this part . . .

T his overview introduces the fast-paced, adrenaline-pumping world of casino gambling. The first chapter offers a sneak preview of what to expect in Casino Gambling For Dummies. Chapter 2 helps you find your way around a casino and introduces you to the key players. Chapter 3 provides a quick overview on probability, odds, house edge, and luck so you have a strong foundation before you start playing. Chapter 4 focuses on important money-management issues, including essential tax-reporting info. Chapter 5 identifies casino gambling etiquette so you don’t make a gambling faux pas.

Chapter 1

Casino Gambling 101: The Inside Scoop

In This Chapter

Entering the world of casino gambling

Tallying up the casino’s many offerings

Pinpointing casinos on the gambling map

Testing your gambling aptitude

Iwas a big golf fan during the game’s golden age, when Jack Nicklaus and Arnold Palmer ruled the links. Yet, despite the presence of those two titans, I idolized Gary Player, a South African whose diminutive size made for a less-than-intimidating physical presence in the tee box. But Player’s welter-weight appearance belied a heavy-weight swing. I was always amazed that someone so small could hit the ball so far.

Believe it or not, casino gambling is a lot like golf. And, no, not because both games are about going for the green. Golf is all about technique, skill, and knowledge. And masters of the game are inspiring to watch. With swings as graceful and elegant as a ballet dancer’s leap, they make each challenging stroke look effortless. The pros seem to play as smoothly as those on the PGA tour. But, as in golf, the successful player has gathered important knowledge and studied effective strategies to finesse the outcome in his or her favor.

In other words, casino pros aren’twinners just because they’re lucky, any more than Tiger Woods is a golf god because the angels of the green have smiled upon him. Trust me, the greats of the poker tournament circuit may look like they could take the table in their sleep — but they’re skilled, savvy, and have studied the game diligently.