Risk Versus Reward
Perhaps the most important aspect of gambling that beginners don’t grasp is risk versus reward. Sure, everyone imagines winning a mega jackpot, but that is unlikely. More to the point winning big means betting big, unless you happen to land an online pokies progressive jackpot. Strategic gamblers know that betting small but betting smart is the key to success.
But what is betting big, and what is betting small? It depends on how much you have to spend. A good metric to work by is in percentages of your total bankroll. If you have $100 total to spend, your bets should be no more than 2%. So in this case a wise bet would be no more than $2. The same should apply if you have $1,000 to spend.
Remember; risk versus reward is a long term game. It is fun to bet big, but betting big also means losing big.
Now that you know how much to bet, it’s time to understand odds and the house edge. Every gambling game has a house edge, otherwise known as the percentage that the house will always win. Online casinos have to make money, and thus build a failsafe percentage into their games.
In Roulette you will notice that the 0 pocket, assuming the European version, isn’t included in any of the group betting options. There is also a 00 pocket in American Roulette. Either way, when 0 hits it is all but guaranteed that every bet will lose. But what does that mean for the odds of winning?
Most beginners assume that the odds of red or black hitting are 50%. This isn’t true, given that 0 is neither red nor black. The odds of red or black hitting are, in fact, 48.6%, again assuming the European version. So the 1.4% is the house edge. It is because of this house edge that betting strategies are so important, ultimately allowing you to come out on top even against additional risk.
Respecting The Martingale
Now that we have a baseline betting amount established, let’s talk about the Martingale Strategy. The Martingale is as basic as gambling strategies get, but also happens to be effective. By learning the Martingale, understanding it, and putting into practice you will already be a significantly smarter gambler. Using online Roulette as an example, decide if you prefer red or black, and stick with it. In this case, let’s say red.
Using the 2% rule above, let’s say your bet is $20. Your bet on red loses, which means you are now down $20. Bet on red again, but this time double the bet; $40. The next bet on red is $80 if you again lose, and so on. When the bet wins you will not only have covered losses, you will also have made a small profit. At the point that the bet pays, return to the original 2%; $20.
The trick here is that the chances of the same colour coming up in Roulette, over and over again, are unlikely. Though, they are not impossible. With the Martingale the system generally collapses if the same losing colour comes up 5 times in a row, at which point the required bet will likely exceed the table limit. But until that time you will steadily be making a small, long term profit. asianbookie asian handicap