More Gambling Information

This is going to cover the difference between skill and luck-based games, as well as give you the 30,000 view of the most popular games found in (online) casinos. By the time we’re done, you should have a pretty good idea of how all the games work, and more importantly, which games you prefer to play.All casino games and betting options predominantly fall into one of two categories:For example, poker, sports betting and blackjack fall into the skill category. That’s because, with deliberate practice, you can become ‘skilled’ at these games. Maybe even to the point where you can beat the house or other players for a profit. Games of chance are the opposite. There’s very little if anything you can do to affect the outcome. The house edge will always be against you, no matter what you do. That all being said, hardly anything in life is black or white. The same is true for gambling. While all games predominantly fall into one category or the other, you’ll find there’s no hard and fast rule that applies to everyone and every game. Here’s what I mean by that:

There’s a lot of overlap.

Skill games still have elements of luck (and vice versa). For example, you may control how much you bet, what hands you play, when you bet, etc. But what you don’t control are the cards you get, or who you play against. You don’t control what team wins a match or what numbers are drawn.

Skill games aren’t a guarantee.

You can play and still lose money. That goes for video poker, blackjack and sports betting. Because they all require skill, which you need to spend time developing. Not only that, but not all skill games can be beaten for a profit.

The same goes for games of chance.

You’re supposed to lose in the long run playing these games. But tell that to people who’ve won millions of dollars playing Mega Moolah.

There’s variance, no matter what you play.

This means that you’re going to win and lose at any game you play in the short run, no matter what you do, or what the odds say should happen to you in the long run. That’s variance.

I point these things out because I don’t want to give you the impression that playing poker or blackjack guarantees you won’t lose money. Because the honest truth is that most people will lose, regardless of the games they play. Which is also why you won’t see me berate or mock other people for the games they choose to play. Since most people will lose money in the long run, it makes more sense to choose a game based on how much fun you think you’ll have playing it.The general idea behind sports betting is this – you’re betting against the bookie on whether you think an outcome will happen. Then you place your bet and wait. There are dozens of different markets and bets to choose from. Sportsbooks cover all the major sports – football, soccer, baseball, basketball, tennis, hockey, etc. – while lesser popular options – e-sports, handball, politics, etc. – are a bit harder to find. But there is something for everyone. However, most people will never be more than recreational bettors. Sports betting is one of the hardest to learn how to do well because no one wants to teach it. And that’s because there’s no upside to creating more profitable bettors. The good news is that if you make simple straight bets, you’re going to be pretty close to 50/50 to win. You’re still going to lose money if all you do is break even, because of the sportsbook’s vig. But at least you’re not going to lose your shirt like you would playing keno or slots. And, to further put this into perspective, the best sports bettors have win-rates of between 53-60%. The point is you can bet sports, have a good time, and probably not lose a ton of money-making straightforward bets. That’s the general idea behind sports betting. Now let’s look at the pros/cons of betting sports.If you enjoy watching sports, sports betting is a great thing to get into. It adds another level of excitement to an already exciting hobby. However, if you’re not a sports fan, or if you’re looking for something (purely) to make money from, you’re better off playing poker instead.Poker’s an interesting game where you play against other players instead of the house. Between that and all the different games, variations and structures out there, it’s such a dynamic game few, if any will ever be able to master. The general idea of poker is to beat your opponents by having the best hand, or giving them the impression that you do. There are two core types of poker games you can play – cash games or tournaments. With cash games, you sit down with however much money you want to play with. Whatever you win from a pot is the amount you get to add to your stack. Winning a $1 pot means you add $1 to your bankroll. And since there’s nothing to win but the hand you’re playing, you’re not going to experience a huge financial windfall unless you’re playing for large stacks. Tournaments, however, are more like a ‘winner takes all’ game. You pay an entry fee and are given a stack of chips (which has no correlation to the entry fee). The tournament starts at a scheduled time, and everyone plays until one person has all the chips in play. The money everyone paid to play in the tournament is pooled together, and divvied out to the top players based on the number of players who signed up. In other words, in a 10-man tournament, the top 3 players are paid. In a 180-man tournament, the top 16 players are paid. All payouts are on a top-heavy sliding scale. Because of this, it’s possible to win large sums of money playing tournaments. Here are the pros and cons of playing poker.Poker might be for you if you’re competitive, an extrovert and/or have the time to put in the work to be good. You can also get a lot of bang for your buck playing tournaments. It’s not unheard of to buy in for a $1 or $5 tournament and play for several hours. Win or lose, that’s often a better deal than going to the movies.In this section, we’ll talk about casino games of chance. Those include games like:These games are totally random. There’s little if anything you can do to influence the outcome. However, one of the differences between these games and most skill games is that you can randomly win thousands, hundreds of thousands, or even millions of dollars. Each game is played a little differently. But here’s the general idea behind each one:

Keno

Choose up to 15 numbers. Make your bet. Get paid based on the numbers drawn that match the numbers you’ve chosen.

Bingo

Each card is a grid with numbers on it. Mark each number as it’s drawn. You win when you can mark all the numbers to complete a specific pattern or line.

Scratch Cards

Buy a card and scratch off the symbols. You win prizes at random, or if the symbols fulfill the objective (which varies from one card to the next).

Slots

Press spin. When the reels stop spinning you’ll get paid if the symbols shown make up a winning combination (based on the machine’s pay table). Otherwise you lose.

It’s really that simple. There are games, variations and stakes for all people and budgets. And it’s these games that make up 50-80% of what a casino offers. Here are the pros and cons.You should play these games purely for entertainment. In other words, you should prepare and even expect to lose. If you can get past that, these games are a great way to sit back and relax – sort of like watching TV or playing a simple video game. There’s very little work or effort required.Video poker is an interesting blend of poker and slots. Here’s how it works:That’s it. Here are the pros and cons:Ultimately, if you want a good blend of poker and slots, or skill and luck, video poker is a good option for you.Table games include options like:These games are played against the house using single and/or multiple decks of playing cards. The exception is roulette, which uses a wheel, and craps, which uses dice. Each game is played differently, but here’s the general idea of each one:

Table Games

The goal is for your hand to beat the dealer and/or the other players at the table.

Craps

Choose what you think the outcome of the next roll will be.

Roulette

Choose what number, color or section you think the ball will land in the next round.

Some table games, like blackjack or pai gow, will have strategies you can use to reduce the house edge. Or, in the case of blackjack, beat the house edge. Other games, such as craps, roulette and war, are pure chance. There’s nothing you can do outside of cheating to overcome the house edge. That’s the general idea. Now here are the pros and cons:Table games have the most overlap between luck and skill of any type of casino game. But even if they’re predominantly luck, the way you play them makes you feel as if you have control over the outcome.