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:

Kentucky casino supporters are increasingly mum
The Courier-Journal
While no candidate for Kentucky governor is actively campaigning against a constitutional amendment on casino gambling, the issue appears to be waning, even among its supporters. Champions of casino gambling aren't saying much, although the issue is ...



New Jersey Law Journal

As Casino Gambling Busts, Atlantic City Firms Play On
New Jersey Law Journal
The planned shuttering of three casinos over Labor Day weekend or soon after—Revel, Showboat and Trump Plaza—would seem to have dealt a cruel hand to the legal industry in Atlantic City, N.J. But, nearly four decades after gambling was legalized in ...



New York Times

The Crowded Market for Casino Gambling
New York Times
More than half the population in the Northeast now lives within 25 miles of a casino featuring video lotteries, table games or slot machines, up from about 10 percent a decade ago. As the market grows crowded, many older casinos are declining or going ...
As Casino Business Softens, Atlantic City Promoting Its Non-Gambling ...CBS Local
Lawmakers to consider changing laws to allow casinos outside of Atlantic CityNews 12 New Jersey

all 480 news articles »


Boston Globe

Christian right, political left unite in opposing casinos
Boston Globe
Politics famously makes strange bedfellows, but this odd coupling is as strange as it gets: On the issue of casino gambling, the liberal left and the Christian right share common ground, united in hoping to keep the gambling industry out of Massachusetts.



Casino gambling: Any hope has faded
Foster's Daily Democrat
During a recent editorial board meeting, Gov. Maggie Hassan pooh-poohed the notion that the casino industry is in decline and therefore it is a bad bet for New Hampshire to expand casino gambling. The governor brushed aside our challenge by saying she ...

and more »


Baltimore's casino reality [Editorial]
Baltimore Sun
Chad Barnhill is the Senior Vice President and General Manager of Horseshoe Casino Baltimore He gives a tour of the $442-million casino. (Kevin Richardson/Baltimore Sun video). 12:29 p.m. EDT, August 26, 2014. Tonight, Baltimore becomes a casino ...



New Jersey Law Journal

Poll finds majority of New Jersey residents still oppose casino gambling ...
Press of Atlantic City
A majority of state residents continue to oppose expanding casino gambling outside of Atlantic City, according to a new poll, although residents are essentially split on adding casinos to the Meadowlands or Monmouth Park.
Garden State majority opposed to casinos outside Atlantic CityNJ TODAY
New Jersey residents unsure on casinos outside Atlantic City gambling meccaWABC-TV
Atlantic City's Summer of '64: Hosting Democratic convention turned into ...The Star-Ledger

all 138 news articles »


LegalUSPokerSites.com

Progressive Slots Network Links New Jersey and Nevada Casino Gambling
LegalUSPokerSites.com
The states of Nevada and New Jersey launched the beginnings of a multi-state progressive jackpot network this week. The two states introduced of a cooperative progressive slots network, linking Las Vegas with Atlantic City slots. The multi-state ...
Nearly A Third Of The Casino Floor Space In Atlantic City Will Be Inactive By ...CardPlayer.com

all 42 news articles »


Casino gambling in Myrtle Beach unlikely, SC politicians say
The State
MYRTLE BEACH — Every few years, you can bet on hearing the renewed debate about casinos possibly coming to the Grand Strand. Those who support casinos say that the facilities would boost tourism to those who are looking to gamble while opponents ...

and more »


No to casino gambling
Caribbean Life
Citizens in Defence of Grenada's Lands and Heritage (CDGLH) has noted with dismay the introduction of legislation in the House of Representatives last Thursday, Aug. 14, to permit casino gaming in hotels with at least 300 rooms. We wish to repeat and ...


Google News


Advertisement



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

Copyright © 2006 Luminati Inc. All rights reserved.