Profitable gambling venture
Craps is a game of chance, or so many people think. What separates the winning gamblers from the losing gamblers are systems like the ones below. The difference between a profitable gambling venture is just a matter of a few games. Gamblers can swing the pendulum firmly in their direction by adopting and mastering a system, as well as watching out for the systems that do not work.
Craps is a game that does not really have any working systems, though. It is down to pure chance. Here are just some of the most common systems used in casinos all around the world and their flaws.
The Martingale System
The Martingale system of craps is perhaps the most popular system available to gamblers. Players can adopt the system by placing a given betting amount. For the purposes of this example, the amount will be referred to as one betting unit. Whenever the gambler loses, they simply double their bet. If they lose on the first bet, their next wager will amount to two betting units. If they win, however, they revert to their original amount.
Whilst popular amongst gamblers, it is a system that ultimately fails at bringing in a long-term profit. The obvious flaw comes with the money. Constantly doubling a bet in the middle of a losing streak can inadvertently cause the gambler to go bust. An example of this system is a player betting on eleven based on whether they have seen it in the last 20 rolls or not. Another example comes from Hard Six. Another flaw is the maximum bet put in place by most casinos. In the midst of a losing streak, placing the next betting level up could become impossible due to this safety feature implemented by the casino.
After attempting to use the system over thousands of games, it is clear the system can only yield a profit that equals the initial betting amount each time the player wins. Essentially, gamblers who adopt this in the long run risk just playing to break even.
The Gambler`s Fallacy is a sort of system that catches out so many gamblers. It is technically a system adopted by thousands of players, even if they do not technically realise it. The Gambler`s Fallacy is the belief in a dice roll affecting a future dice roll. It is the belief in winning and losing streaks affecting the future.