Scobe's Quick Tips: #89 and #90: Gambling Systems, Bets with Fancy Names

Scobe's Quick Tip #89

Gambling systems that are based on whether you won or lost the last bet cannot overcome the house edge on games of chance.

Betting more when you win a hand or betting more when you lose a hand only changes the patterns of your monetary wins and losses but not the long-term probabilities. If the casino has a five percent edge, in the long run, no matter what betting system you use, you will lose five percent of all the money you played.

But not everyone agrees with this idea. To read a contrarian's view, see Walter Thomason's Twenty-First Century Blackjack.

Scobe's Quick Tip #90

A fancy name doesn't mean a bet is worth making.

Take the Big Red or Any Seven bet at craps. It sounds cool to throw out a chip and say: "Big Red!" The bet, however, is awful as the casino has a 16.67 percent edge. You will lose $16.67 for every $100 bet this way at craps. Avoid this bet.

How about snake eyes or box cars - sound good? They come in with high edges, too.

Stick to the dullest-sounding bets such as Pass and Come, because they have low house edges.

For more information on craps, read Forever Craps by Frank Scoblete and Get the Edge at Craps by Sharpshooter.