As long as gambling has been offered in one form or another, there have been stupid gambling strategies. And terrible gambling strategies are going to continue being used in the future.
The problem with stupid gambling strategies is they cost gamblers money. Most forms of gambling cost people money, but they don’t have to cost as much as most people pay.
Here’s a list of eight stupid gambling strategies that you need to stop using. You can find good strategies when you gamble, but the ones listed on this age are ones you must avoid.
1 – Doubling After Losses
This gambling strategy has been around so long that it has its own name. Called the Martingale strategy, you start with a small wager and double it every time you lose. When you make even money pay out wagers and use the Martingale system, when you win a bet you get a profit the same size as your original wager.
This doubling after losses system sounds really good, and you can make money using it for a while. But eventually you lose too many bets in a row and lose all of your money.
The odds of losing several bets in a row on even money bets are small, but the more bets you make the more likely it is that you’re going to have a long losing streak. You either lose all of your money or hit the maximum bet limits. This betting strategy always ends in a loss in the long run.
2 – Playing Keno
I’ve seen several different betting strategies for playing keno over the years, and there isn’t a single one of them that’s going to help you win more than you lose over time. Keno has an extremely high house edge that simply can’t be beat in the long run.
While the house edge isn’t usually higher on a keno machine than in traditional keno, the problem is that you’re risking a lot more money because you’re playing so many more games. With a house edge of 20% and higher depending on the pay outs and how many numbers you pick, keno in any form is a terrible idea.
3 – Slot Machines Strategy
Do you know if there are any strategies you can use when you play slot machines? I’ve seen several different slots strategies over the years, but I’ve never seen one that works.
Slot machines are designed using computers to keep a percentage of money bet on them and give back a percentage of the money. Over the life of a slot machine it guarantees a profit for the casino, and nothing you do can change this.
Slots are big money makers for casinos because of this. I rarely play slots, and when I do it’s on a machine with a progressive jackpot. I like to be able to use strategy to give me a better chance to win, and there aren’t any strategies you can use when playing real money slots to lower the house edge.
4 – Any Lottery Strategy
The worst bet in the casino is usually keno. The house edge is almost always over 20%. You already learned about playing keno in an earlier section, but there’s an even worse game you can gamble on. The worst gambling option most players use is any kind of lottery.
The edge on lottery games is often 40 to 50% or higher. Yet millions of people buy lottery tickets every day. You can find plenty of strategies for playing the lottery for sale, but none of them help you win.
I understand why people play the lottery. I even buy a ticket from time to time. You bet a few dollars and have a chance to win millions; sometimes hundreds of millions. But lotteries are set up to guarantee a profit, and it eats up a lot of the money spent on tickets.
This means that almost every lottery player loses money in their life. The only ones that don’t lose money are the ones that are lucky enough to win a big lottery. And the odds of winning big are so small that they’re almost impossible to comprehend.
5 – Mimic the Blackjack Dealer
Blackjack dealers have a strict set of rules they must follow on every hand. The table rules dictate whether the dealer stands of hits on a soft 17, but beyond this, the dealer always does the same thing.
When the dealer has a hard 17 or higher, or a soft or hard 18 or higher, he or she stands. When the dealer has 16 or lower, he or she hits.
While this is a decent strategy for the dealer, and it works because it’s simple, it’s a terrible strategy for players. You can easily use the best blackjack strategy by using a strategy card. Pick one up in a casino gift shop.
6 – Making Side Bets
Many casino games offer side bets in addition to the base game. Some of these side bets are better than others, but almost all of them have at least one thing on common. They all have a higher house edge than the base game.
This isn’t really any different than other bets offered in the casino, but side bets are optional. The best strategy is to never make any side bets. The most common side bet in the casino doesn’t even look like a side bet.
You just learned about this side bet in the last section. The even money insurance bet is simply a side bet hidden in the regular game of blackjack.
7 – Not Using a Bankroll
While you can find strategies that say that you can use some sort of fancy money management to beta the casinos, the truth is that there aren’t any money management systems that win money over time. But this doesn’t mean you shouldn’t use proper money management when you gamble.
The best way to start using proper money management when you gamble is to use a bankroll. Start by setting aside a dedicated amount that you only use for gambling. You can add money to it when you need to, but when you have a dedicated bankroll it’s easy to track your wins and losses.
When you use a bankroll, it also helps you budget for your casino visits and know when you need to stop playing.
8 – Any American Roulette Strategy
American roulette is the wheel with a double zero spot. American wheels have a total of 38 spots. The other common type of roulette wheel doesn’t have a double zero spot, and only has 37 spots.
One of the most common strategies that players use when they play roulette is the double after losses strategy you learned about in the first section. But there are dozens of other strategies that I’ve seen over the years.
All roulette strategies have something in common. None of them actually help you win. Some of them work for a short time, but they all lose eventually.
The only strategy you can use when you play roulette to lower the house edge is to refuse to play on American roulette wheels. If you’re going to play roulette, only play on wheels that don’t have the double zero spot. You’re still going to lose in the long run, but at least you won’t lose as much as you’re going to lose if you play American roulette.
The worst thing you can do when you’re gambling is to use a bad strategy. Every time you use a stupid strategy it costs you money. Just because you use a stupid gambling strategy, it doesn’t mean that you’re stupid. It just means that you haven’t learned that it’s a bad strategy yet.
Now you know about the eight stupid strategies listed on this page, so you can avoid using them in the future. Find a few good strategies to start using when you gamble and you’re results will get better.