First off, i'm not really much of a gambler myself. But over the years i met quite a few people who are and i also love las vegas (for other reasons) so i have seen quite a few casinos from the inside and done quite a bit of gambling myself. Doesn't matter if craps, roulette, poker, blackjack, slots or even sports betting. I have made my experiences with all of them. While i've always seen this as "weekend fun" (just like going to a club) and never betted with indispensable money i still tried to figure out a way to beat the casino and make bank. But at some point, after probably more than a decade trying to figure out a system that works i realized that it's just not possible. Keep on reading and i tell you why and how you can make a profit anyway...
The most obvious reason why you can't win at a game of chance in the long run (that pretty much everybody knows) is the odds are always in favor of the bank (aka the casino). So if you're just playing without a system, chances are the longer you play the more money you will loose.
But this leads me to the second reason as to why you can't win in the long run. Because IMHO there is no working system. Other people that are way more knowledegable than me when it comes to math and statistics also tried and also failed. Don't expect it to be as easy as googling "roulette system" and then you're smarter than everyone else at the casino because now all you have to do is put money on red and then double for as long until you win. That stuff doesn't work. And that's just an example. Complex systems don't work either. Ask me how i know. My guess is that either the casinos invented those systems themself in order to attract more customers or broke gamblers invented them in order to fund their addiction.
And let's face it. If you could really figure out a system that works then casinos would ban you from their propertys pretty fast. That's exactly what happened to people counting cards which by the way doesn't work anymore because casinos nowadays have automatic card shufflers and exchange the card decks frequently. Since today casinos are connected through an international network you also can't just travel around to overcome this issue. Well it's just as they say, the house always wins!
Bonus reason: Well based on my gut feeling after gambling on weekends and vacations for over a decade now - i think that some casinos on top of that actively decrease your chances of winning. I'm not saying it's all of them and i also do not have any proof for that at all. Just be aware of the fact that every game at a casino can in fact be manipulated and in many different ways. It's not just slot machines. Table games can be manipulated aswell. Of course chances of that happening to you are even higher in illegal facilities. I never participated in and based on stories i've been told would also highly recommend staying ouf of those.
The good news is that you can use all this to your advantage and make a profit (win) anyway! As we discovered, going to a casino and make a bunch of money by using a fancy system doesn't work. But what does work is being the casino yourself! Because as most people know, the house always wins. Pretty obvious right? Well odds are you maybe can't or don't want to deal with running a gambling business. It might be also pretty hard to open a new (online) casino as well as to attract enough customers depending on where you live. Well good thing is that it's not required to do any of that in order to cash in. It works but you don't have to go that route. What i do instead is investing in the casino industry by buying gambling stocks. You have a large variety of options. You can buy casino stocks (Example Stock: WYNN), REITs that specialise in gambling property (Example Stock: VICI), online gambling stocks or even stocks from companies that manufacture gaming supplies like slot machines. When doing this you should obviously know the basics about stock trading, do a lot of research and develop a strategy prior to buying into these companies. But if done right then your odds of making money in the long run are way better than those of anyone gambling at a casino. I by the way generally like to hold on to my stocks for longer periods of time and would advice against a "short-termed" daytrading like approach.
Conclusion
In my opinion it's not possible to make sustainable long term profits gambling at the casinos for the reasons provided above. The only way to make sustainable long term profits with gambling is being the casino yourself. You can start your own or buy into an existing (online) casino but this is only one way to do it. What i do instead is investing in gambling stocks. When doing this the odds are finally in your favor. But you still need a "system" (aka know what you're doing) in order to make that work. In the end it really comes down to the simple concept of "if you can't beat them, join them!"
This article is also not meant to discourage anyone from going to a casino or even las vegas. Just be aware that you will most likely loose. So i recommend to only bet negligible amounts of money and to take advantage of free (or cheap) drinks and bufetts if available. Simply have a great time without spending too much. Doing this you can definitely have a lot of fun without breaking the bank.
Last but not least: Doesn't matter if gambling at the casino or investing in gambling stocks. I strongly advice you never do it with borrowed money or indispensable income because this is a great way to get in trouble. Also payback any debt and take care of your retirement first. Investing in gambling stocks IMHO should not be part of someones retirement plan.
Recommended Comments
There are no comments to display.