The Sharps system was initially created as a method of allowing the average person to enjoy the thrill of betting while also providing a sense of security in the form of a buffer zone around the bet.
By taking a portion of each patron’s wager and applying it as a guarantee against loss, the casino is able to maintain the excitement of a game while also reducing the risk of major losses.
The following explanation will highlight the basics of how the Sharps system works so that even the most novice of gamblers can enjoy the excitement of betting while avoiding the pitfalls that often plague less experienced gamblers.
How Does The Sharps System Work?
The Sharps system works by taking a percent of each individual bet and using it as a guarantee against loss. This amount is determined by the casino and is known as the “cushion.” The cushion represents the amount of protection the system gives to the bettor. For instance, if a gambler places a $100 wager, then the casino may agree to pay $100 of that wager (i.e., the $100 cushion) should the gambler lose.
When a gambler places a wager, the system will search for a “Sharps match” which is defined as a winning hand in a card game that is the same suit and has the same rank (i.e., a royal flush is a “Sharps match”). If a Sharps match is found, the system pays the guaranteed amount to the patron, along with whatever winnings the hand accumulated. There is no upper limit to how many times a gambler can repeat this process, as long as he or she continues playing and maintaining a sufficient balance in their account.
How Do I Calculate The Amount Of Protection The System Provides?
The amount of protection the system provides is based on two factors. The first is the minimum requirement that the gambler must meet in order to qualify for the cushion. This amount is usually between $5 and $10, though it can be higher or lower depending on the casino’s level of protection and the type of game being played. For example, in a high-roller craps game where the minimum bet is $100, the cushion is $100 and the maximum bet is $500, the minimum requirement for the cushion is $300.
The second factor that determines the amount of protection the system provides is the balance in the patron’s account. For instance, if a gambler has a $200 balance in their account and places a $100 wager, the system will pay out $100 plus whatever winnings the hand accumulated (in this case, $100). The downside to this is that if the balance goes below $100, the system will not provide any cushion at all for that particular wager.
How Do I Calculate The Amount Of Winnings The System Accumulates?
The amount of winnings the system accumulates is based on the amount of money wagered by the patron while playing. For instance, if a gambler places a $100 wager and that wager wins, the system will pay out the full $100 along with any winnings the hand may have accumulated (in this case, $100).
However, if the wager loses, the patron will not lose their entire stake because the system protected it by taking a percentage. For example, if the wager loses by a half and the system took a percentage ($100) of the wager, the patron only loses half their money ($50). They will not lose their entire $100 wager because the system took a percentage and found a winning hand that matched the wager. They will still win some amount of money because of the matching winning hand, but it will not be enough to cover the entire wager. By taking a portion of the wager, the system creates a buffer zone around the wager in case the hand they found does not match the wager. In this case, the system helps to reduce their losses.
What Is A “Sharps Match”?
A “Sharps match” is a winning hand in a card game that is the same suit and has the same rank. For example, if a gambler has a Royal Flush (a straight flush of hearts), the Royal Flush is considered a “Sharps match” because all five cards showing are of the same suit (i.e., hearts) and have the same rank (i.e., a straight flush).
If found, a Sharps match must be reported to the casino within 30 seconds of the hand being revealed.
What Is The Difference Between A “Sharps Match” And A “Nibble”?
A “Sharps match” is a winning hand that must be reported to the casino within 30 seconds of being found. If the hand is not reported promptly, the casino may blacklist the gambler’s account and prevent them from playing again. A “nibble,” on the other hand, is a winning hand that does not need to be reported and will not affect a person’s eligibility to play. Certainty of a nibble is based on the odds of getting a certain card combination given the amount of money wagered while playing.
For instance, in a game where the minimum bet is $10 and the maximum bet is $100, a gambler places a $10 wager and wins. Assuming they do not report the win immediately, the system will create a nibble for that particular hand and the next time the player bets that amount, the system will pay them the guaranteed winnings (i.e., the nibble). Should they report their win before their account hits the $100 minimum withdrawal amount, then they would not be able to withdraw funds from their account because they have exceeded their total allowed withdrawals for the month.
What Is Blacklisted Gaming?
If a gambler is blacklisted by a casino, they are not permitted to play at that particular establishment. A blacklisted account may still be able to play at other casinos that are part of the same group. Blacklisted accounts are not eligible to participate in any promotions or giveaways offered by the casino.
How Is A Blacklisted Account Activated?
A blacklisted account can be reactivated by the player providing a partial payment to the casino. Once the required funds are received by the casino, the account will be eligible to play once again.
Additionally, certain actions by the player while blacklisted may cause their account to be permanently banned from all casinos operated by the group. These actions include but are not limited to:
- Reporting a “Sharps match” that does not match their bet
- Requesting a “Nibble” that they have not already been paid for
- Requesting a payday loan from the casino
- Failing to maintain a balance of $100 or more in their account at all times
- Continuing to play after being told they are “blacklisted” by the casino
- Attempting to withdraw funds from their account if they are below the required minimum balance
- Continuing to play after being put on “blacklist” by the casino
These actions will cause the account to be permanently banned from all of the casinos operated by the group, along with any other accounts associated with that player. In addition, the player’s name will be reported to the BBB and any other online directories that keep track of banned individuals.
What Are The Requirements For Rejoining A Casino?
In order to play at a casino that they have been previously banned from, a player must go through a special security check. This involves having their name run through a database that contains information on banned individuals. If the name does not come up as a banned individual, then the player is free to return to the casino and continue playing.
What Is The Timeline For Claiming A Nibble?
A Nibble will stay pending for a period of 7 days, during which time the casino will verify the claim. This means that if the casino does not receive any sort of paperwork by the 7th day, then the claim will be considered fraudulent and treated as such. In this case, the casino can either blacklist the account or contact the player and ask them to come back and provide more evidence that they are entitled to the winnings they claim.