Bookmark Website  | Free Registration  | The Team
The Lounge  | Champions  | The Wire |  Schedule |  Audio  |  Arcade  |  The Top Ten  |  Historical  |  Email  |  Video

The Truth Behind The Limits: What Minimum and Maximum Bets Are About


Have you ever thought about the reason behind the existence of minimum and maximum bets? The truth is simple: casinos want your money. As simple as that. So they restrict your possibilities to win.

It was in 1654 that Antoine Chevalier de Mere asked Pascal why he usually lost when he bet even money that are double, 6 would show up at least once in 24 rolls of two dice. Pascal demonstrated that 24 rolls would be against the gambler, but 25 rolls would be slightly in his favor.

Pascal solved the question, and sent the solution to Pierre Fermat and Christian Huygens. The science known as Probability Theory was born. Up to then gambling odds were found by trial and error. Pascal, however, was able to calculate the odds of chance in a scientific way.

But if one knows the odds he can find the way to trick them. Since that time people also began developing the schemes to beat the system. A good deal of the systems is build around increasing each consecutive bet as anticipation of winning grows, known as martingale systems. So gambling establishment elaborated a simple method shut out a game transformation in to jump with bets, where a resource-sufficient player was practically "doomed" on winning. Maximum bet has its limits.

In any world casino each table, be that roulette, blackjack or poker, features signs clearly defining minimum and maximum rate of bets on a given table. A difference between them can be in 10, 30 or even in 100 times. But nowhere to you will be allowed to multiply your bets without restriction.

Please pay attention, that the very existence of maximum bet limits proves that a system, founded on bets augmentation principle, threatens the success of the casino. Take any table in regular or even on-line casino. For example the one, on which minimum bet is $25, and maximum one is $1000. Why do you think you are not allowed to bet more than $1000 at once? Do you believe they won't have money to pay out? Or do they fear, that you will win and take your money home? But in VIP-halls of the same casino you can make a bet of $2000 or even $10000! And if you have specially requests you try negotiating with the administration to satisfy them. Most casinos have more than enough resources to meet any bet of yours.

The deal is about the correlation of maximum and minimum bets. So, in case the maximum is set at a $10000, the minimum bet will rarely be less than $250. The idea is to limit your double bets to certain number of times depending on the game. Usually you want be able to double more than 5 times. Otherwise your odd of winning become impermissible high.

In the Eighteenth century, Jacomo Casanova hit upon a method to win at gambling. Each time he lost, he would redouble his bet until he won. In letters he wrote to the friends, he discusses how his martingale system would guarantee his win every time. And mere two days later, he wrote a letter from prison. The scheme had failed -- and series of losses overcame his funds, and he was now in debt. In 1755, after suffering ruinous gambling losses and participating in various illegitimate dealings, Casanova was denounced by the Venetian State Inquisitors and imprisoned beneath the lead roofs of the Venetian Ducal Palace, in place known as the "Leads".

Bill Edge


MORE RESOURCES:

Reporter Newspapers

Commentary: residents talk about legalizing casino gambling
Reporter Newspapers
Commentary: residents talk about legalizing casino gambling. Reporter Newspapers staff asked residents in Brookhaven, Buckhead, Dunwoody and Sandy Springs: There's a proposal to legalize casino gambling in Georgia. Would you support or oppose a ...



Atlanta Journal Constitution

First meetings set to study legalized casino gambling in Georgia
Atlanta Journal Constitution
Efforts to legalize casino gambling will get a closer look in September, when state lawmakers will meet for the first time since MGM Resorts International went public with its push to bring Las Vegas-style gambling to Georgia. A legislative study ...

and more »


WCPO

House Speaker Stumbo wants voters to allow casino gambling in Kentucky
WCPO
FRANKFORT, Ky. -- Kentucky might take another roll of the dice when it comes to legalized casino gaming. House Speaker Greg Stumbo, D-Prestonsburg, wants the state to cash in on billions of gambling dollars leaving the state, so he's planning to file a ...
Opposing gambling views in Ky governor's raceWHAS 11.com (subscription)
Prospects For Expanded Gambling Unclear As Candidates Weigh InWKMS
House Speaker to Propose Expanded Gambling Legislation, Casinos in KentuckyKentucky Center for Investigative Reporting

all 23 news articles »


CBS Local

Has the bet on casino gambling in Baltimore been a bust?
Washington Post
There were great expectations for Horseshoe Casino when it opened in Baltimore last August. Crowds surged, music blasted, festivity reigned. Big-dollar optimism was in full force as well, as casino industry consultants hired by the state predicted ...
Maryland Casinos Have Nearly $100-Million JulyCardPlayer.com

all 6 news articles »


Atlanta Journal Constitution (blog)

Casino gambling still a poor bet for Atlanta, Georgia
Atlanta Journal Constitution (blog)
It's amazing how flexible moral principles can become once Big Money begins to wield its influence. Case in point: The debate over casino gambling in Georgia. For years, the idea of casino gambling has been a complete non-starter in this state. Georgia ...
Tom Crawford: Step right up and place your betsSavannah Morning News

all 2 news articles »


World Casino Directory

Georgia State brings meetings to discuss legalizing casino gambling
World Casino Directory
The state of Georgia is looking into legalizing casino gambling, with meetings set for September to discuss the subject. State lawmakers will be meeting for the very first time to discuss casino gaming after MGM Resorts International announced publicly ...
Georgia Casino Exploratory Meeting Scheduled for SeptemberFlushdraw
Georgia State Government to Launch Casino StudyPoker News Daily

all 5 news articles »


Casino gambling a bad bet for Atlanta, Georgia
MyDaytonDailyNews (subscription)
It's amazing how flexible moral principles can become once Big Money begins to wield its influence. Case in point: The debate over casino gambling in Georgia. For years, the idea of casino gambling has been a complete non-starter in this state. Georgia ...
Tom Crawford: Georgians, get ready to place your betsGainesville Times

all 2 news articles »


ABC Online

Man fined $300 after dropping bag of cocaine on Darwin casino gambling table
ABC Online
A man who accidentally dropped a bag of cocaine on a Darwin casino betting table and then told police it was "just a few party drugs for tonight" has been convicted and fined. In the Darwin Magistrates Court, Reza Passmore pleaded guilty to possessing ...

and more »


OCA News

Alabama Moves One Step Forward Towards Casino Gambling
OCA News
Alabama took a step towards gambling legislation this week as the Senate Tourism and Marketing Committee voted 6 – 2 in favour of a proposal to hold a referendum on creating a state lottery and allowing casino gambling at four existing dog tracks. The ...



Finance Minister Wiseman Says No Casino in N.L. as Casino Gambling Ban Remains ...
OnlineCasino.org
Newfoundland and Labrador (N.L.) Finance Minister Ross Wiseman has come out with a statement in which he declared that the 2003 casino gambling ban remains in force, and will continue to do so because the provincial government's stance remains the ...


Google News


Advertisement



Section Site Map - Submit News - Feedback - Comments - Advertise with Us

Copyright 2006 Luminati Inc. All rights reserved.