Have you ever heard anyone say they didn’t deserve something that happened to them? Have you ever thought that maybe you got something you didn’t deserve? This usually happens when you think life isn’t fair, but there are two ways to look at it.
The reason why most people think they’re getting something they don’t deserve is because something bad happens. A poker player that gets all in with the best of it and suffers a bad beat might be unhappy because they don’t think it’s fair that they didn’t win.
But there’s another side to getting something you didn’t deserve. What do you think when you win a jackpot on a slot machine or hit a long shot when you’re betting on the horses? Rarely does anyone think they don’t deserve a win. Instead, they think they got lucky or gained enough skill to benefit.
You can’t change the way people view things, but it doesn’t help when you believe you deserve or don’t deserve something that doesn’t fall within normal expectations. One of the things I like the most about gambling with real money is that, in the long run, you always get exactly what you deserve. This is true for the bad things that seem to happen and the good things.
If you want to embrace the fact that you get what you deserve, and find out how to benefit from it, find out how below.
What You Deserve Is Directly Related to Expectation
Gambling in any form is based on mathematical principles and equations. Some of them are simple and some are more challenging to understand. You don’t have to be a math genius to understand the math behind most gambling games, but you do need to understand a few principles.
Every game you play in a casino has a built-in house edge. The casino house edge is created in different ways, but the main thing to understand is that all casino games are designed to make the casino money.
Casino games have a house edge, which is an average percentage that the casino keeps from every dollar wagered on the game. Poker rooms make money by taking a percentage called a “rake” from each pot. Sportsbooks make money by charging more than you can win to make a bet in the form of vig.
If you know the house edge of a casino game, you can determine your expectation playing the game. Some games have strategies you can use that lower the house edge and some games don’t. When you play slot machines, you can’t change the house edge. But when you play video poker, you can use strategy to lower the house edge.
Here’s an example of the house edge and what it means for your expectation.
You’re playing roulette on a wheel with a double zero space and making $50 bets on black every spin. You play 50 spins every hour. The house edge on this bet is 5.26%.
Taking this another step, if every game in the casino is designed to hold a house edge, why does anyone play in the casino? It’s because they either don’t understand what it means they deserve, or they don’t care.
Before you decide to stop gambling forever because it’s obvious that you can’t win, there’s a bit of good news. You can gamble in certain ways that allow you to play with positive expectation. You can learn more about this in the next section.
How to Get on the Right Side of Expectation
In order to win when you gamble, you need to figure out how to play with an edge against the house instead of playing against the house edge. The good news is that there are a few things you can do to make this possible.
One way to play with an edge is to figure out how to play a casino game using strategy that reduces the house edge below zero. Most casino games are designed so this isn’t possible, so you can’t play them with positive expectation. But blackjack is one game where you can learn to play with an edge.
In order to play blackjack with an edge, you have to learn about card counting, find games with good rules, and learn how to use perfect strategy.
A few video poker games also offer an opportunity to play with a small edge when you combine a good pay table, proper strategy, and comps. These opportunities are rare, but a few do exist.
Another way to overcome the house edge is to play in games that make the house money in ways other than a built-in house edge. The two most common ways to do this are to play poker and bet on sports.
Poker is one of the best opportunities to gamble with an edge because you compete against other players instead of directly against the house. The poker room takes a rake from each hand instead of operating with a built-in edge.
This mean that, in order to make more than you lose playing poker, you simply need to learn how to play better than most of your opponents. This is called beating the rake, and it means that you win enough to cover the rake, leaving a profit.
Sportsbooks make money by collecting the vig on losing wagers.
While the vig is a built-in cost of betting, if you can learn how to pick winners 53% of the time or more, you overcome the vig. It’s not easy to learn how to beat the vig, but some sports bettors do it, and you can learn how to do it as well.
You can find a few other ways to gamble with a positive expectation, but these are the main ones. Learn how to do it one of these ways and either continue improving your skills on your chosen game or learn a new one.
Remember that in gambling, you get what you deserve. If you choose to play games that can’t be beat, you’re going to lose. If you choose to play games that can be beat in a way that still gives the house an edge, you’re still going to lose.
But you can choose to play games that allow you to beat other players and start winning on a regular basis. The choice is yours! Focus on turning the tables and make getting what you deserve work for you instead of against you.