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Calculate Your Losses Before Gambling

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Crunch the numbers and calculate your odds of winning in any of the casino games.

If you know the math, which is easily obtained, you can calculate what you can expect to lose when you gamble in Las Vegas. And, the odds are high, very high, that you will gamble. In fact, about 75% of people who visit Las Vegas will gamble during their stay.  This includes those whose purpose in coming was not to gamble. It seems the lure of gambling is just too strong to resist.

With countless thousands of slot machines everywhere including as soon as you get off your airplane, how can anyone hold out for an entire trip without at least pulling the handle or pushing the button a few times.

The question is how many people who do partake of gambling in one form or another, have any idea of what the odds of winning are? The edge is always with the house, but that edge can be very small or very large. One would have to conclude that too many players don’t know these odds or they wouldn’t play. We encourage folks to calculate. Regardless of the game you play, you will need a good dose of luck to leave with more than you came in with.

We will just share some basic facts with you that may help you decide whether or not to gamble. It may also help you decide what game you will want to play if you decide to take a chance. It is understood that some people play games they love even though they are not the best games as far as the odds go. Obviously, slots that have bad odds literally litter the floors of the casinos.

According to a publication by Caesars Entertainment, and you can find similar information at www.wizardofodds.com, these are the odds of various games.

Slot machines:

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The house edge can be up to 25% on slots. Calculate your odds of winning. You usually need a good bankroll to win the big ones.

House edge is, depending on the denomination anywhere from 2.5%-12% on average. This means for every $100 you gamble you can expect to lose $2.50 to $12.00. Note: Since casinos can legally set their slots at 75% payout the house edge can be much higher on any one particular machine. There are some machines in some casinos that pay out over 100%.

Baccarat

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House edge is, when betting on the Player or Banker, 1.1%-1.2%. A tie brings the edge up to 14.4%. This means for every $100 played you can expect to lose $1.10-$14.40.

Blackjack

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Two blackjack players calculate the odds

House edge is 0.5%-1.4%. Therefore, for every $100 bet, you can expect to lose $.50 cents to $1.50. Blackjack is one of the best games to play for its great odds.

Craps

House edge if you play the Pass or Don’t Pass lines is 1.4%. For every $100 bet, you may lose $1.40. Another one of the best games to play for its great odds.

If you play the Prop Bets the house edge leaps to 10%-16.7%. Then, the math for each $100 bet calculates that you may lose $10-$16.70.

Roulette

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House edge on a double 0 wheel is 5.26%. On a single wheel it drops to 2.7%. For each $100 bet you stand to lose $5.26 to $2.70.

Keno

House edge when playing 1-15 spots is 25%-30%. This means each $100 bet may cost you $25-$30. It’s a pretty expensive game. You would have to love it to play these odds.

We hope this article will help you bet smarter and win bigger. Always have fun and know when to quit. Then, you will have no regrets.

To find out a lot more about gambling odds visit: www.wizardofodds.com.

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