Disadvantages

CINDY: Last week we discussed the idea that many, if not most, casino players are looking to win their version of the “pot of gold.” Maybe some do; almost all the rest of us don’t.

ABBY: Now we will reverse ourselves…

CINDY: Somewhat.

ABBY: Somewhat and take a look at simple decisions players make that can cost them in the short run and in the medium and long run. These decisions can be made at most games but we will look at a few such as blackjack, craps, mini-baccarat, and roulette.

CINDY: Strap yourselves in for the ride if you play these games. It might get bumpy.

ABBY: Blackjack is the most popular table game in the casinos. It has been since the mid-1960s since Thorp wrote the book “Beat the Dealer” that showed how the game could be beaten. This created the world of the card counter, players who could actually get an edge over the house. Are there many of these players around today? I doubt it; card counting is frowned upon by the casinos and modern games are much harder to beat than the games Thorp attacked. Still.

CINDY: To be a card counter you have to have a huge bankroll in relation to your bet sizes since losses, some of them quite large, can occur. You have to be able to survive economically when things so bad. Some card counters were not able to do that and wound up losing their bankrolls. Bad streaks can happen.

ABBY: The basic idea is simple. When the count favors the player he or she bets more. When the count favors the casino he or she bets less. More money when you have the edge; less money when the casino has the edge.

CINDY: But when more money is being bet that money can still be lost. The card counter only has a miniscule edge so bad times as in really, really bad times can await even the most skilled counter. That is a disadvantage even when you have an advantage.

ABBY: It is not just card counters. But regular blackjack players have their worries too. They can go on losing streaks that might be considered epic if they employ two methods, one of them the wrong strategy of playing the hands against the dealer’s up-card; and one of the wrong betting methods they use.

CINDY: The most common mistakes blackjack players make, and many players do make these mistakes, is to play any method other than the computer derived “basic strategy” which tells the player how to play his specific hand against the dealer’s up take. Using basic strategy gives the house about a one-half percent house edge. That’s an expected loss of 50 cents per $100 wagered.

ABBY: Now what if our “basic strategy” player (or any player) is winning and having a really good run, what do many of these folks do? They will win a hand and then bet the entire win on top their former bet. They parley their bet. That’s right; they double the original bet figuring they are doing really well.

CINDY: Now here is a usually hidden idea in blackjack. The house wins about 48 hands, the player wins about 44 hands and the rest are ties. That’s right; bet it up and you are (in general) betting into a poor situation – a losing situation.

ABBY: Blackjack is a great game but it can be a dangerous game too! Flat bet and don’t parley is probably the best advice blackjack players can follow.

This article is provided by the Frank Scoblete Network. Melissa A. Kaplan is the network's managing editor. If you would like to use this article on your website, please contact Casino City Press, the exclusive web syndication outlet for the Frank Scoblete Network. To contact Frank, please e-mail him at fscobe@optonline.net.