Best online casino usa. The Best Bets At The Casino - Forbes

Americans are suckers for betting. Of the 56 million people that visited a U.S. casino last year, almost all placed some form of wager–from the nickel slots to blackjack. Non-Indian casinos clocked $32 billion in gambling revenues (and billions more if you add in lodging and entertainment). People just can’t get enough. Best casino.

The funny thing about all of this, of course, is that the house has the edge. Still, people throw good money after bad–some for the thrill of it, others because they actually believe they can win a few bucks.

If your goal is to nab the best risk-adjusted return (as opposed to playing for hours on end), place fewer, smarter and larger bets. It’s a difficult strategy to stomach, and your night could be over in a hurry. Still, if you lose, at least you know you gave it your best mathematical shot.

Here’s the logic. Say you flip a coin 10 times and bet $10 per flip. In a fair game–one in which you are appropriately compensated for your risk–you would either double your money or lose it all.

But the casino isn’t fair. The “house edge” lies in the misalignment between the promised payout and the inherent odds of the game. The house doesn’t take the extra risk–you do. When you flip that theoretical coin at the casino, you only win, say, $9.75, if you lose, the entire $10 goes to the house. Sure, you might win some of your early losses back if you keep flipping, but in the long run, the edge eats you alive.

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Placing a big one-time bet “cuts the house edge to its bare minimum because it works on your stake only once,” says Anthony Curtis, a one-time professional gambler and president of lasvegasadvisor.com. “The more you bet, the more you will lose.”

Next time you’re in Vegas, consider this trip around the casino floor.

Your first stop is the blackjack table. Here the object is to beat the dealer in getting as close to 21 without going over. Unless you employ what is known as “basic strategy” (meaning that you make the best move in every situation), the house will get the better of you the longer you play.

Place one bet, though, and the odds are nearly 50-50 that you’ll win. For the unskilled, the house edge is roughly 2%–or $20 for every $1,000 wager. Compared to other games, that edge isn’t so bad.

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Now look at the big wheel of fortune, where you bet on whether the wheel will stop on $1, $5, $10, $20 or a joker. Here the house edge is a whopping 11% when you bet that the wheel will land on a $1 mark–the safest bet in the game. (You can double your money, but the odds of winning are only 44%.) Bet on a joker and the house advantage shoots to 24%.

Better to skip the carnival atmosphere and move to the craps table, where your fortunes lie with the shooter of the dice. The permutations here are endless, but a “pass line” bet has essentially 50-50 odds and pays out accordingly. House edge: a mere 1.4%. (Betting on specific numbers boosts the edge.)

Next to the craps table sits roulette. All bets–whether on red or black, or on a specific number–are equivalent on a risk-adjusted basis. House edge: 5.6%–worse than blackjack but better than the wheel of fortune.

We probably don’t need to remind you that you shouldn’t gamble with more than you can afford to lose. Our advice if you do win? Smile–and stick the stash in index funds.

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