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Getting an edge on the house edge

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It’s a fact: In most casino games, the house has the edge. But you can get an edge over the casino in three ways:

 Using match play coupons to double your fun. You can often find match play coupons in the free fun books distributed by many casinos. Rip these coupons out and tuck them underneath your bet. In most cases, they essentially double your wager without you having to risk any more money.

 Taking advantage of promotions. Promotions can be the best way to secure a positive expectation. Here are a couple of examples: You might see a temporary rules change where blackjacks pay out 2-to-1 instead of 3-to-2 or 6-to-5. This change tips the odds enough so that even basic-strategy players have an edge of nearly 2 percent over the house.Another great promotion was when the Pioneer Casino in Laughlin, Nevada, offered Double Jackpot Time on some slot machines. Twice an hour, for a short period of time (approximately 30 seconds), they generously doubled the payout on certain jackpots. Most people shrugged off this opportunity as just another marketing gimmick, but it was very lucrative. It’s not unheard of for experienced gamblers to make six figures a year there playing only a few minutes every hour.Finding out about these great deals isn’t easy. However, one helpful resource for casino promotions and coupons is the Las Vegas Advisor (see Appendix B). Another tactic is to sign up for casino email lists to keep abreast of upcoming special events.

 Arbitrage in sports betting. Because payout odds on sporting events are dynamic and may vary between bookmakers, there are rare occasions where you can place a risk-free sports bet. How is this possible? The simple version is: You place a bet on all outcomes of a certain game. Imagine the Golden Waterfall Sports Book offers 3.75-to-1 payout odds on Team A and 1-to- 4 odds on Team B. And across the street, the Silver Cascade Sports Book lists the odds as 4.25-to-1 on Team A and 1-to-5 odds on Team B. If you were to bet $25 on Team A at the Silver Cascade, and $100 on Team B at the Golden Waterfall, you’re in a no-lose situation. Your outlay on both bets totals $125. If Team A wins, one bookie pays you $131.25. If Team B wins, the other bookie pays you $125.Sports books work hard to keep their odds in line with other outfits, so these situations are quite rare. Not only that, but bookmakers frown on arbitrage betting, and if they identify you as one, they’ll either reduce your betting limits or invite you to take your business elsewhere.

Casino Gambling For Dummies

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