Parlays and Round Robins

April 15th, 2013 admin Gambling

Parlay Betting

We all know that betting parlays is a big part of sports wagering but blackjack, craps, and other table game players engage in the same method.

A parlay means:

  1. Making a bet
  2. If it wins, letting the original bet, plus the profits, ride on the next hand.

Suppose you’re at a blackjack table and slide a $5 chip on the lay-out. You win and the dealer pays you $5, giving you $10 in front of you. If you let the whole $10 ride, it is called a parlay, you 11 laying everything onto the next decision.

Here are the nays and yeas of parlays:

  1. Your total risk is only $5, while the potential profit is $15
  2. The odds against winning two even propositions in a row are 3-1 against you
  3. With a parlay, you could win a hand, lose a hand, play the house even, and end up minus the initial bet.

I can’t knock the parlay because I realize many people have small bankrolls and this type of wager allows them to triple the amount of their initial bet (see number 1 above).

But number 3 makes a good point on the other side: You play a 50-50 game and win just as many hands as the house, lose the same amount as the house and end up losing your initial wager.

It is up to each individual to examine the plus-and-minus aspects of the parlay. That’s why my regression system is a smarter move from a standpoint of needing only one win to show a profit.

The drawback on regression is betting higher on the first wager. It comes down to whether you want to cut the chance of losing more on a possible first loss, or making sure you have profit while playing the house even.

In sports, parlays are a way of life and I play them myself when on a losing streak for the purpose I gave you: small risk for better return. I go for the three-team parlays where pick ’em situations pay 13-5. A two-team $25 parlay pays $65 and a three-team $25 parlay pays 6-1.

My risk is $25 and potential profit is $150. A $100 three team parlay pays the same 6-1, so I stand to win $600 if all three win for a $100 risk.

Obviously, those of you who have read my “Sports Handicapping” book know that I never reach that third bet in any jeopardy. That third bet of the three-team parlay is always on another day or in a later time zone than the first two.

This way, when I get to the point of that potential $600 profit, I go back and hedge off with a teaser bet or round robin bet on the opposite of the choice for that third bet. This will be discussed in depth when we apply my methods to each separate gambling game, and sports is the topic.

For now, I’ve explained the parlay. I use it myself, so I can’t condemn it.

But the round robin or regression is superior if you play a conservative pattern. The parlay is the move if you have a short bankroll. Keep in mind the hedge on the back end of the three-team parlay.

You can learn more about Parlays here

Round Robins

Even though this bet is reserved for sports bettors, I may as well go over it now, because it has to do with parlays. I bet round robins every day.

They give me a series of parlays, while putting me in a position where I don’t have to pick all games correctly in order to save my initial bet.

A round robin consists of 3, 4, 5, or 6 bets, all parlayed with each other, but I’m jumping way ahead of myself. Let’s start with a three-team round robin on the following teams:

  1. Green Bay -7 at Tampa
  2. Bears at Jets -8
  3. Miami -3 at Seattle

You decide to bet these three games and pick Tampa +7, Jets -8, and Seattle +3. You decide on a $20 round robin with each of these choices. We’ll call Tampa (a); Jets (b); and Seattle (c).

You call your favorite bookie and say: “Rocky, this is Mountain, give me a $20 round robin on Tampa, Jets, and Seattle.”
You have told him you wanna $20 parlay on all three teams with each other: (a) and (b) for $20, (a) and (c) for $20 and (b) and (C) for $20.

Since the payoff on parlays is $13 to $5, a twenty-dollar parlay nays $52. Well, you have three $20 parlays criss-crossed into a round robin. Here’s what could happen:

  1. All three teams win: You win three parlays at $52 each for a total of $156
  2. All three teams lose: You lose three $20 parlays for a total loss of $60
  3. Two teams win; we’ll say (b) and (c). You win $52 on that parlay and lose $20 each on your (a) and (b) parlay and your (a) and (c) parlay for a total win of $12
  4. Both (a) and (b) lose: You lose all three parlays of (a) and (b), (a) and (c), and (b) and (c) for a total loss of $60

The good thing about round robins is that in this case you are risking $60 to win $152. That’s if all three teams win. However, even if you only picked two right out of three, you still end up with a $12 profit.

You lost two $20 parlays and won a $20 parlay that paid $13 for every $5 wagered. You still ended with a profit. In a straight parlay, you must win all three. In the case of a $20 three-team parlay, you risk $20 to win $120 (6-1). Risk is low, but picking three winners is tough.

If you bet ten times (i.e., 10 x $5) or flat bets of $55 to win $50, you win $150 if all three win but lose $165 if all three lose. The risk is great but the good thing about flat betting is that if you pick one right out of three, you only lose $60.

With flat betting, two out of three gives you a $45 profit. I’d rather risk only $60 on a $20 round robin for a potential $156 profit or a $12 profit for two wins then go flat betting.

Flat betting gives me $150 for three wins and $45 for two, but costs me $165 for three losses, almost three times that of a wash in a round robin.

Go over these three types of betting and see which ones you take. Take into consideration the potential win versus the potential loss.

  1. Parlays have largest win potential, but you gotta win all three, although the potential loss is the lowest.
  2. Flat betting has by far the largest loss potential but two wins still gives you decent payoff and one win is not devastating.
  3. Round robins allow you a nice payoff, about the same as flat betting, while keeping potential losses low. Two out of three wins is a little better than breaking even.

You pick what you like because these all have merit. I lean toward the round robin on a regular basis and the three-team parlay when I wanna make a small investment for a 6-1 payoff.

You are not wrong in whatever you choose. Let your bankroll decide. The higher the bankroll, the more you’ll side with flat betting.

I don’t, but it is your choice. If you would like to learn more about Round Robins, click here.

Who Gambles?

September 26th, 2012 admin Gambling

A Fever That Has Engulfed Us

I don’t know how many of you go to the casinos or how often you go. I am there five days a week in A.C, plus the regular monthly trips to Las Vegas and I can tell you this – these places are packed. Just ask twenty people that you will come into contact with today, whether it is a friend, neighbor, coworker, mailman, policeman, relative, whatever.

If I were a betting man, I’d wager over 80 percent of them have been, are going, or expect to go to the casinos within the past/next month. Gambling has exploded in this country, and it hasn’t even scratched the surface. I’m talking casinos, sports, poker, bingo, race tracks, etc. It’s in the minds and lives of most people.

I can’t say everybody gambles, because the math wizards of the world would scream at me to back up my claims with positive proof – but you get the idea, it’s like a fever that has engulfed us.

Your Own Personal Need

I already explained why people gamble:

  1. Need money
  2. Need excitement
  3. Need an outlet
  4. Need the hope of companionship
  5. Need the thrill of the chase
  6. Need the hope that gambling will change their live

Surely you can find your own personal need in that list. Mine are number 1 and number 5. I admit I want the money and I need the chase, or at least the thrill of the chase that the competition offers me. But this was all explained earlier.

The reason for this article was to again emphasize my basic theory of how to gamble, regardless of whom you are or how often you play. The tiny amount of time I spent explaining the game was done to acquaint you with the basics. Read my twelve books and watch my twenty-three videos and you’ll garner all of the knowledge of the game that you need!

You Need Money Management and Discipline

What it comes down to is this: I don’t care a rat’s tail whether:

  1. You gamble every day
  2. You gamble once a year
  3. You got a big bankroll
  4. You got a small bankroll
  5. You gamble seriously
  6. You gamble for fun
  7. You gamble for comps
  8. You play blackjack, craps, slots, roulette, poker, horse racing, or sports.

I want you to consider my way of gambling. You have no idea the amount of heat I get from people who chastise me for trying to take the “fun” out of gambling. You also have no idea how many people contact me and tell me they have cut their losses to the bone and have gladly learned to “accept” small returns.

This latter group is ecstatic with the knowledge they will no longer get destroyed as long as they stay within the rules. The bottom line is quite simple: Regardless of whom, why, where, when, you play, you need:

  1. Money management
  2. Discipline

Both of those are really easy concepts to think about; but they are very difficult to put into practice when you are playing for real. The most difficult place where most people lose discipline is during a hot streak for the dealer. These games are always about going on streaks.

You must maximize your profits on your streaks and minimize the damage during the dealer’s streaks. Above all, if you don’t like the feel of things, pick up your chips and walk away from the table, get into a better mood mentally, then come back and kick some butt.

Who gambles? People who better realize what it takes to win. Do you?

Minimum Knowledge for Betting at a Casino

September 4th, 2012 admin Gambling

Before you decide to wager money on any game, you first need to know some basic rules. These tips are essential knowledge to have a good expectation of what you will face when you are trying to win money.

The Least You Need To Know About Slots

Slot machines date back to the late 1800′s. They didn’t become popular until the 1940′s. In the 1990′s, with the gambling development boom including river boats and Indian reservations, they became a huge hit. Now, slot machines have evolved into sleek machines that are controlled by a computer chip.

On the old machines with just three reels, your chances of hitting a jackpot were 1 in 8,000. Now, with the new technology, your chances of hitting a jackpot are almost unthinkable.

Most of the slots you will play are scheduled to pay back somewhere between 75-99% of the money you play. Because of the randomness put forth into these machines, you will find that your short-term results will vary quite a bit.

You should also know that if the machine you are playing on has more than one payline, you will most likely have to put in an extra coin or bill for each extra payline to be eligible to win on the other lines.

If you want to play a slot machine with several paylines, a flat top, or a progressive with a big difference in payouts for the number of coins played, again, don’t forget to put in the extra cash folks.

The Least You Need To Know About Roulette

Every time you have the choice, stick with the European wheel. It only has one 00.

Never place a 5 number bet, it has the worst odds on the table folks.

If you see someone betting big and winning big, get in on the action and do as they do. They just might know something that you don’t.

For the best in excitement, place your entire bet straight-up on the number, as a substitute for putting them all over the table.

The bet thing as far as betting goes in roulette is that the house is an even-money outside bet whenever surrender is allowed.

Don’t press your luck at roulette. When you have reach your limit of excitement it is time to move on.

If you really have a love for this casino game. If it is your absolute favorite game ever. Save you money and head to Monte Carlo to play. Remember the European wheel?

The Least You Need To Know About Baccarat

American baccarat consists of two different forms of the game. Full-scale, and more formal is baccarat. Then there is Mini-baccarat, known as the less formal version of the game. These games are played by the same basic rules, but mini-baccarat is recommended if you are not willing to bet huge amounts of money.

As a baccarat player, you only have one decision to make – what and how much you want to bet. Both you and the banker have hands that will be played out by the rules of the game.

In Baccarat, the house has only a small advantage. 1.36% on player bets and 1.17% on banker bets.

The Least You Need To Know About Blackjack

When playing blackjack you want to beat the dealer without going over 21. You can and will learn what the house rules are in blackjack games by reading the rules right on the table or even asking the dealer.

Dealers must play according to the house rules, not you. This is where you have the advantage in blackjack.

If you are dealt a natural, turn your cards so all can see and be happy!

Getting insurance (or even money) allows you to insure your natural against your dealer getting a possible natural. Please do not get sucked into this. It is not recommended that any player purchase insurance.

When splitting a pair, you are making your hand two new separate hands, each hand has a bet equal to your original bet you placed at the beginning of the hand.

If you double down, you are actually doubling your bet and your hand gets one additional card.

The Least You Need To Know About Blackjack Strategy

When playing blackjack, basic strategy will match you to the casino, mostly when you are playing a single deck game. Keep in mind that if multiple decks are in play, the house will still have a slight advantage though.

For the most part, the common player who isn’t using a strategy gives the house a 2-3% advantage.

If you are a savvy player, you will definitely take advantage of all kinds of favorable conditions and stay away from the unfavorable ones.

You should always keep in mind that even when you are playing under the best conditions, you can still lose.

This game is fun to play and you should treat it as just that. Players may win big or lose big.

The Least You Need To Know About Craps

Craps is definitely one of the fastest and most exciting of all casino games. Even though dice are thrown by one person at a time, betting on the outcome is very exciting and it is a group effort. You will often see a hot roller leading the pack before each throw of the dice. You can hear it from a distance when someone is having a streak of luck throwing the dice. Check it out.

You will see that the same shooter throws the dice until they roll a seven.

The best thing for right bettors is to bet on come and pass bets, with full odds on both of these bets.

The best thing for a wrong bettor is to place bets on don’t pass and don’t come bets, with full odds on both of these bets.

You should also know that center bets are only good for the house.

The Theory and Logic of Successful Gambling

July 31st, 2012 admin Gambling

How Much You Win Isn’t Important, It’s How Little You Lose

gambling theory The Theory and Logic of Successful GamblingLet’s go to the first part of the Theory of the Little Three and see how it ties in with our gambling days. Theory, in my opinion, is a person’s take on how to accomplish something. Each theory might reach the same conclusion, or it may be completely different than another person’s theory.

People run for public office with an opinion on how to run the country or state or town. They spew their theories all over TV, the newspapers, seminars, etc., and people listen and decide which theory is best for them.

A typical politician may offer his opinion on how to run a state, cut taxes, work four days a week, no charge for garbage, etc., etc. He gets elected, and his theories change as soon as he gets into office.

Taxes are raised, you work six days a week for less, and you deliver your own garbage to the dump and pay to deposit it.
Theories or opinions are passed on to others, who then decide whether to believe them or not. I have a theory on how to gamble, how to play and how to bet. This differs completely from the other so-called experts who pan me constantly in magazines, lectures, and on the Web-site newsgroups.

But these theories work for me, and so I throw them out to you. When it comes to money management and discipline, my ideas are very, very conservative. You may not like them. That’s OK, go write your own book.

I’m not trying to drive these messages down your throat; I’m only asking you to give them a shot. How can they hurt you? They are all geared to cutting losses and quitting with small but consistent profits. You don’t have to like medicine to realize it might help you.

Here is my favorite phrase, and it will be mentioned over and over again. Memorize it, so you can skip over it next time around:

“It doesn’t matter how much you win that’s important. It matters how little you lose!”

That’s one of my theories!

Everything To Do With Gambling Has A Logical Explanation

This is an easy explanation. If you got kids, you’ll understand better. Did you ever sit down and try to explain something logically to your son or daughter?

  1. No, Johnny, you can’t have the car tonight. You’re only twelve and you need a license.
  2. Mary, I don’t think it’s a good idea to eat a quart of ice cream at each meal. You’re already a little chunky at 323 lbs.
  3. No, dear, it doesn’t seem like a good idea to be going the wrong way on this one-way street. That truck coming at us seems pretty big.
  4. Cathy, I think you’re making a mistake having dates with four different boys for your Junior Prom.
  5. Dear, I think you’re making a mistake painting your car with water paint, and I think orange is a tad loud.

The answers all seem to stress logic in what appear to be actions by people who think it’s natural to do the things they are doing.

In gambling, I try to give you a logical look at things. A guy will come to me and say he’s a financial genius because he found a bank that will give him 7 percent on his $1,000 for one year, “Boy, I can really build my nest-egg with that $70.”

Then he’ll go to the casino with $1,000 and without knowing diddely-dang about craps, he will try to double his money in one day. Everything to do with gambling has a logical explanation.

Play Casino Games from your iPhone

April 12th, 2012 admin Online Casino

iphone casino1 Play Casino Games from your iPhoneDid you know that you can play casino games on your mobile phone? Well, it’s true. If you own an iPhone or another smartphone, you can play some of you favorite casino games.

Which Online Casinos offer Mobile Gaming Services?

Most of the mobile casinos that are currently available are not going to be able to accept real money bets from Americans. That is because most of the iPhone Casino games have been created by a couple of software manufacturers: Microgaming and Playtech.

Microgaming

Microgaming has a selection of over 20 mobile games with their Spin 3 software. These games include Blackjack, Roulette, Baccarat, 3 Card Poker, Jacks or Better video poker and about a dozen different slot games.

Many of the Microgaming casinos like Platinum Play, Spin Palace, All Slots, Jackpot City and 32Red among others. There are two ways that you can install the game onto your iPhone.

1) Go to the AppStore and search for the casino’s mobile app. This will be the easiest method; however, not all of the Microgaming casinos will offer an app at the AppStore.

2) Go to the Casino’s mobile page and download the casino games manually. You may need to download a single game at a time if you are not using an iPhone. This will consist of you providing your phone number and the casino will send you an SMS message with a link to download the casino game directly to your mobile.

Playtech

Playtech is a little bit behind Microgaming as far as mobile casino games are concerned. There are only a couple of Playtech casinos that are offering these mobile services. This includes Bet365 and Casino Tropez.

They have not yet created mobile games that are specifically for the iPhone. Instead, you will need to go to the website in order to download any of Playtech’s 16 mobile games.

These games include Blackjack, European Roulette, Baccarat, Jacks or Better and several different types of slot games.

Other Mobile Casinos

If you live in the United States, you should take a look at Slotland if you want to play a mobile casino game. The reason you can play at Slotland is because they do not offer traditional casino games like Blackjack and Roulette.

Instead, as the name suggests, Slotland only offers slot machines and video poker games. These games are compatible with the iPhone, iPad, Android and several other popular devices.