Some Players Doom Themselves

3 March 2024

By Frank Scoblete

The biggest problem that I have noticed about some or many or most casino players is the fact that they are their own worst enemies. How does that fact present itself you might ask?

Simply put: the decisions that players make about how to play their favorite games, their betting levels, when they quit play for a session, and when they decide to figure out the proper strategies to use at games, goes awry without them actually realizing it. They put the holes in the canoe they are paddling but don’t realize that they are drowning in their own decisions.

Parlay your way to riches?

You’ve been having good luck or bad luck in the casino for a little while – or you haven’t even made a second bet yet – and you just won a bet, maybe even your first bet so what should you do now?

Many casino players will immediately parlay their winnings and put them on top of the previous bet. Instead of betting $100, they are now betting $200. Some will put a little less but what is being done by increasing one’s next bet is called a “parlay,” thereby increasing the new bet by what you won on the previous bet (or close to it).

Is this a smart way to gamble in a casino? Nope! And here’s why:

Take a look at blackjack. You win your hand about 44 percent of the time, you lose about 48 percent of the time, and you tie about 8 percent of the time. Some of the wins can be on hands where you put out more money.

With such a win/loss/tie situation why are you betting more money after a win? Doesn’t make sense. You will lose approximately 48 percent of those increased hands. Or you will have to increase your bet in certain situations such as doubling and splitting pairs. Lose those hands and “oops!” your playing session is now in trouble.

Parlaying plays into the players’ desire to win a bundle. It is somewhat rare for any casino player to win a bundle unless the amount the player usually bets is bundle-worthy. Such a player we would call a high roller. That just means this particular player bets a lot right off the bat.

Parlaying is a sure way to guarantee long-term defeats. It’s tough enough to buck the negative trend with that initial bet but doing two or three parlays in a row is a tragic mistake made by too many players.

Answer? Just flat bet an amount that suits your bankroll and forgo thoughts of making a killing. Usually, players who think these “I’ll kill them” thoughts wind up killing themselves instead of the casinos.

Parlays are considered positive progressions because they occur after a win.

Streaks Happen

In any random game, streaks happen. Can you predict the streaks enough times to make profits from your play? I wish. But…nope.

The most famous or infamous streak-betting system is called the Martingale. In this method, you double your previous bet after a loss. So, you go $10, $20, $40, $80, $160, $320 and maybe $640.

The player using the Martingale will win a lot of small bets but sooner or later he or she will get creamed when a negative streak wipes out just about all of their money.

There are many different versions of the Martingale but all versions have one awful thing in common – they lead to ignominious defeat.

All the best in and out of the casinos!

Frank Scoblete’s books are available from Amazon.com, Barnes and Noble, Kindle, e-books, libraries, and bookstores.