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Casino Smart: Part 2

This is the second of a two-part article.

People often say there is "book smart" and "street smart." I submit that in the world of the recreational gambling there is "Casino Smart."

"Casino Smart" is an art and a science; it is knowing how to make the most of the casino experience. It is using the casino's tricks and traps against them. It is being the best player you can be and the casino's toughest opponent.

The following questions can be used to judge how savvy a player you are. I believe most people here will answer most if not all of the questions correctly. If you have a friend or loved one that is not as knowledgeable as you, then consider sharing this with them.

Money Management:

1. I have borrowed money to play in the casino.
2. I have used money saved for things like my children's education to play in the casino.
3. I take any money I can scrape up to the casino.
4. I have a separate account of "fun money" just for gambling.

No one should be gambling with money they can not afford to lose. Without exception gaming funds should be in a separate "Fun Money" account.

Game Selection:

If you could only play three casino games on a vacation, they would be:

1. Keno, Sic Bo, Big Six Wheel
2. Caribbean Stud, Let it Ride, Roulette
3. Three Card Poker, Pai Gow, Slots
4. Blackjack, Craps, full-pay Video Poker

Playing the games with the lowest house edges gives you the best chance of staying in the game. Know the game before you play and make the best bets. The house edge is lowest on the games listed in "4" above. It gets higher as it goes back towards "1".

Comps:

1. I am a comp junkie.
2. I never hand in a players card.
3. I take the comps they offer.
4. I know the comp system and use some tricks to get more than I deserve.

Comps are great, but you should never fall into the tail wagging the dog mentality. You get comps for playing. You do not play for comps. Never raise your bets or play longer for comps. That said, there are certain tricks for getting more comps without more risk, but that is a subject for another day.

Roulette:

I look for Roulette games with the following rules:

1. Double Zero w/o the lose half rule (surrender rule)
2. Double Zero where the player loses half his even money bets if the ball lands in Zero
3. Single Zero w/o lose half rule
4. Single Zero where the player loses half his even-money bets if the ball lands in zero

(Even-money bets are the red/black, high/low; and odd/even.)

Playing roulette with the best rules lowers the house edge dramatically. Choice "4" lowers the house edge to about 1.35 percent.

Exit strategy:

1. When I start playing I have no plan on when I will walk away.
2. I play until I lose everything.
3. I randomly stop.
4. I have a loss limit and a win goal.

Before you start playing you should have a loss limit that is non-negotiable. You should also have an idea of how much of a win you will lock in by walking away from the game.

Baccarat:

1. The house advantage is too high on this game so I do not play.
2. I play and bet the tie for the big payoff.
3. I play and vary banker and player based on past hands.
4. I bet the banker every time.

Baccarat is a good game. It is easy to play and has a low house edge with the right bets (banker every time is the mathematically correct bet). Just make sure you play the traditional version. The mini version goes much faster than the traditional version. In casino gaming, such speed kills even with low house edges.

Casino selection:

1. I play a little bit in several casinos.
2. I am a low roller, but I play at the fanciest places.
3. I concentrate my play at a few casinos that reward my level of play.
4. I found a casino I like. They appreciate my level of play so I stay and play there.

You should concentrate your play at one or two casinos. The best strategy is to stay at a casino that caters to those playing at your level. Then do most of your gambling there.