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

Gambling Myths: What You Absolutely Need to Know


Gambling is considered a game of luck and chance. As the outcome is usually unsure, there are various myths that surround the world of gambling. However, as is mostly the case, these myths are nothing but superstitions that can be refuted by facts.

The premise that gambling involves luck is not concrete. Mathematical matrices and probabilities are tools that can be used to calculate one's odds. In fact, the casino's all operating on these strategies to be the winner in the long run. If the players had an advantage on the casino, the casino would suffer huge losses. Each casino has a pre established house percentage which determines how much advantage it enjoys over the player. These percentages are usually kept small, yet the casinos earn huge profits owing to the frequency of losses and the volume of players.

Blackjack, poker and slots are frequently surrounded by myths. Many creators claim that their betting systems are fool proof and ensure consistent winnings. This is all farce, especially knowing the mathematics of the casino and the concept of house advantage. No betting system can sustain for long periods, though it might get a few initial wins. Another talked about principle of winning is that of card counting in blackjack. Accurate card counting and placing all the cards requires pure genius. Even skilled players can take hours to place the cards. A faster method is to determine the odds of the game and then participate.

Slot myths can be quite entertaining. One of the popular myths is that the slots are monitored by the casino and it they who decide whether one would win or loose. In truth, there is no hidden camera or surveillance on the slot machines. The entire game is governed by computer programs and is quite independent of human interference.

Another myth is regarding the facilities provided by the casino to a winning gambler as compensation. It is believed that the casinos provide free rooms, meals and other amenities to the gambler who wins and that these gamblers are the best ones the casino has at that time. It is not the best gambler that the casino compensates every time.

Depending on the potential to pay, the casino compensates the gamblers. Free rooms and meals are provided to make the experience better even in case the gambler suffers huge loss. This helps in building good customer relations and customer loyalty, so that the gambler can be a good source of income in the future.

The tussle between religion and gambling is quite old. While some regard gambling as immoral, some think that gambling on festivals brings luck. A simple explanation can be the age of gambling. Gambling is perhaps as old as the concept of religion itself. Cards and dice games were popular recreational activities and were also used at times to predict the future. Thus gambling and religion can be intricately linked but do not oppose each other.

Myths might be based on true incidents. But with time, they get distorted or blown out of proportion, to sound completely baseless and irrational. Speculation also gives rise to myths. These rumors are an entertainment that come along with the game and should be taken with a pinch of salt.

Mansi aggarwal writes about gambling myths. Learn more at http://www.gamblingmyths.com


MORE RESOURCES:

State should hold its horses on casino gambling
Glens Falls Post-Star
Moody's Investment Services recently downgraded the gambling industry from “stable” to “negative.” Eleven of the 15 states that have casino gambling have shown year over year declines in revenues. Moody's predicts revenues reported by states will ...



Genting bets on New York casino gambling
MiamiHerald.com
Malaysian gaming giant Genting Group — stymied so far in its bid to bring casino gambling to Miami — is pushing hard in New York, where it is competing to win casino licenses under a 2013 law that cleared the way for full-fledged gambling in the state.

and more »


NBCNews.com

Editorial: Chasing the fool's gold of casino gambling
SILive.com
This Tuesday, Oct. 12, 2010 file photo shows the Trump Plaza Hotel Casino in Atlantic City, N.J. The owners of the Trump Plaza casino in Atlantic City say they expect to shut it down in mid-September. Trump Entertainment Resorts tells The Associated ...
Casino Expansion Proposal Riding On North-South Political DealNJ Spotlight
Atlantic City: Casinos, gambling and the economyDigiNews
Opinion: Atlantic City casino shake-out could be devastating to troubled cityNJ.com
New York Times -NorthJersey.com -Washington Post
all 265 news articles »


Boston Globe

Casino gambling, sick time, bottle bill and gas tax questions make ...
MassLive.com
BOSTON — Questions on casino gambling, mandatory sick leave, the bottle bill and a gas tax increase will all go before Massachusetts voters in November. Secretary of State William Galvin announced Thursday that the questions will go on the ballot in ...
Ballot question backers face one more deadlineBoston Herald
4 Ballot Questions Before Mass. VotersNew England Public Radio
November's Mass. ballot questions announcedNECN

all 50 news articles »


NorthJersey.com

Sweeney says NJ voters could decide whether to expand casino gambling ...
The Star-Ledger
TRENTON — State Senate President Stephen Sweeney said there could be a referendum on the ballot next November asking New Jersey voters to expand casino gambling to the northern part of the state, according to a report by The Record. Sweeney ...
NJ Senate president open to north Jersey casinosDailyrecord.com
The Record: North Jersey casinosNorthJersey.com

all 31 news articles »


Longmeadow Town Manager Stephen Crane says repeal of casino gambling ...
MassLive.com
LONGMEADOW — Longmeadow Town Manager Stephen Crane, in response to a question on the matter, has offered his thoughts on the effect of the Massachusetts' Supreme Judicial Court's recent decision to allow state voters to decide the legality of ...



Dog racing, once doomed and propped up by casino gambling, comes to ...
al.com
MIAMI, Florida -- A mural-sized photograph at Flagler Dog Track celebrates the good old days, decades gone: Men and women in their finest clothes lean against the fence to catch a glimpse of the greyhounds, the stands emblazoned with red, white and ...



Dog racing dying with spread of casino gambling
GamingTodaySlotsToday
But, that was before the spread of casino gambling. Now, casinos are feeling the impact of over-abundance while most dog tracks have been shuttered. Lack of attendance and a growing concern over the treatment and health of the animals caused most ...

and more »


Boston Globe

Sweetheart Deal: Casino Gambling, East Boston, And Mohegan Sun
WGBH NEWS
So, call me jealous since I live in the Back Bay and not Eastie, but I don't get why it's such a great thing that Mayor Marty Walsh has shaken down Mohegan Sun for $18 million a year to hand over to just one neighborhood for “improvements” when frankly ...
Sources: Boston has verbal agreement for 'host-like' surrounding community ...MassLive.com
Walsh: Casino deal at hand with MoheganNECN

all 92 news articles »


Sonoma Fire Agencies Use Graton Casino's Gambling Profits To Build New Station
CBS Local
SONOMA COUNTY (CBS SF) — Struggling Sonoma County fire agencies will begin to reap the profits from Rohnert Parks' Graton Resort and Casino in a new deal that will provide greater emergency services. The deal was struck as part of a crime mitigation ...

and more »

Google News


Advertisement



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

Copyright 2006 Luminati Inc. All rights reserved.