Bets are a fun way to play The Market, but they can also be tricky to master. Understanding when and how to bet can make a huge difference in your bankroll. In this article, we will lay out some general guidelines for taking profit on the bets you make and how to handle the odd losing streak without losing your shirt.
When To Bet
The general rule of thumb in gambling is to bet on games where you have a good chance of winning. The reason behind this is straightforward – you will then be more likely to take a profit, especially if you lose. This is especially important to note if you are using margin betting, where you are risking more than you are prepared to lose. It is crucial that you ensure that you have enough money to sustain this kind of wager for the entire game, or at least until the end. Otherwise, you will be in for a nasty shock when the dust settles and the house wins again.
On the opposite end of the spectrum, you have poker players who go all in every hand regardless of the strength of their cards. This is a bad idea for several reasons. First, it is extremely risky, as you cannot “call” a hand if you are dealt two of a kind or better. Second, it makes you a target – the opponents know that you are always all in, so they will try to take you out with them before the flop. Third, it doesn’t allow you to adjust your betting pattern according to the strength of your cards, which can put you at a disadvantage.
How To Bet
When it comes to betting, there are a few tried and tested methods that can boost your winning chances. One of the simplest and most reliable tactics is to place a “stupid” bet. A “stupid” bet is one that you know is not going to make a difference; it is usually placed to gauge the strength of your opponents’ hands. Most people use this method to bet on blackjack, especially the dealers’ hand – what they call the “soft” 19, for example.
So, if the dealer has a 19 and you have a 16, you would place a bet on even money that the dealer will bust. This is known as a “push” – you are pushing the dealer to bust so that you can win. This is an age-old betting technique that has stood the test of time.
Another reliable method is to bet large when you have a good hand and small when you have a bad hand. For example, if you are playing blackjack and get dealt a 7 and an 11, you would put the same bet on as if you got those cards. This is because your risk of losing is higher when you bet small, and you need to take a larger “rake” or commission when you win. Essentially, this is giving you a chance to even the odds a little bit, which can help you come out on top in the long run.
Yet another method is to “hedge” your bets. When you hedge your bets, you are placing small bets on the favored outcomes and large bets on the opposed outcomes. For example, if you are playing blackjack and the dealt cards are 7 and 10, you would put the same amount of money on black (the favored outcome) and red (the opposed outcome) as you would for a pair of 2s. Essentially, this means that you are “shorting” black and taking a long position on red. Essentially, this is a method of equalizing your bets – you are giving similar amounts of money to each outcome so that your winnings and losses are evened out. This way, you cannot get cheated by a dishonest casino employee or a crooked house edge, as your winnings will be matched by your losses, hence staying even overall. It is a good idea to hedge your bets, as this will make it more difficult for the house to trip you up by changing the rules of the game during play.
How To Handle A Losing Streak
A losing streak is one of the worst nightmares of any serious gambler. As the name would suggest, this is a period of time in which you consistently lose, often times consecutively. While it is obviously undesirable to go through a losing streak, it is important to know how to handle this without succumbing to anxiety or depression. There are several ways to do this, and below we will discuss a few of them.
The most basic and straightforward approach is to simply wait it out. As long as you are playing within the rules and the house is not cheating you, there is absolutely nothing wrong with taking a beating for a while. After all, the underlying principle of gambling is to try and overcome your losses. If you are down by a large amount of money and you feel like you are starting to lose hope, it may be a good idea to leave the casino and take a break. Go home and relax, and when you come back you will hopefully have regained your confidence and are ready to continue playing. Sometimes, this is all it takes for a gambler to win it all back. If this is the case, you could be on your way to becoming a high roller.
Another approach is to simply reduce your bet size. The reason behind this is simple – when you are down by a large amount of money, you are paying out a large proportion of your wager. This is a formula for losing, especially if the opposing cards are of higher value. When playing with smaller bets, this proportion is reduced, meaning that even though you are still losing, you are possibly not as much as you would if you were using larger bets.
A third approach is to simply play with smaller stakes. Once you are down by a large amount of money, it is often the case that the casino will simply increase the stakes, meaning that your losses will be compounded. By playing with smaller stakes, you can avoid this and simply continue to lose – but you will still feel that you are winning, as you are only risking what you can afford. Essentially, this is a method of self-discipline – you are determining how much you are willing to risk based on how much you have to risk. It is a good idea to play with higher stakes when you are on a winning streak, as this will compound your winnings and make it easier to keep betting until you get back to even.
A last resort, especially if you are in a casino, is to try and grind out a profit. This is a form of psychological warfare against the casino. First, you need to take a little break, somewhere quiet and private. Come back with a clear head and a positive attitude, and try and work out a plan to make a profit. If all else fails, and you feel like you will never win any money at the casino, it may be a good idea to walk away. However, remember that you will not get cheated – the casino can only beat you so much before they are forced to give you your money back, along with some extra for being such an astute customer. So, if you leave on good terms, you may be able to find another casino that will give you a better chance to win.
Regardless of which approach you take, the bottom line is that you must be consistent. The more you practice these methods, the better you will become at exploiting them when gambling. At the end of the day, this is all we can do – we are playing a game where the house always wins, so we need to make the most of it. Sometimes, this simply means taking a beating for a bit until we get back on track.