Most players know that each casino games is designed
with a theoretical mathematical edge that favors the
house. Most people believe this is how casinos make
their money. For example, a slot machine may be preprogrammed
to pay out 90 percent-yielding a 10 percent gross
profit for the house. Or, in roulette, the house maintains
an edge of around 5 percent on every bet or combination
of bets, which yields around $5 for the house on every
Most casual players just accept this and play with
the hope they'll get lucky and hit a jackpot or perhaps
go on a rare extended win streak. They come to the
casino prepared to risk their bankroll for the elusive
big score. If they fail, they usually rationalize
the loss by writing it off as the cost of entertainment.
What most players don't know is that the built-in
house edge is not how casinos take in the majority
of their money. Most of their take comes from the
invisible "mind ploys" they routinely use
oil players. The casino's ultimate goals are to get
players to (1) stay longer than they should; (Z) bet
more than they can afford to risk; (3) give back what
money they do manage to win; and (4) generally play
with poor control, little 'confidence, a lack of discipline,
and no money management.
As mentioned previously, the built-in house edge for
roulette is around 5 percent. Yet the casino's typical
roulette take is well in excess of 20 percent! In
online blackjack games (playing with basic strategy)
the house edge is advertised at only around 1 percent
or 2 percent. Yet the take here is also in excess
of ZO percent.
How do they do it?
third tip for getting nickel-dime players into workable
limits is to stick to fixed-limit games, at least
initially. Fixed-limit protects players from being
required to put too much of their money in play at
one time. These are also fairly benign environments
in which beginning players can work on poker basics.
With the exception of perhaps a tournament, don't
venture into pot-limit or no-limit games until everyone
is very comfortable with fixed-limit. You can point
out that fixed-limit poker, even at limits considered
high for a kiddie game, turns out to he much safer
than man\- kiddie progressive pot games such as "Guts"
and "In Between." where players can be required
to match a pot that has grown exponentially. We've
all witnessed or at least heard stories of the nickeldime
poker night that ended in a $1,000 Guts pot, followed
a few days later by a trial separation.