Compared to your bankroll, the online casino has all of the money in the world. And you don't. The casino limits the maximum size of wagers it will accept from players so that it never risks too much of its bankroll on a single hand or a single roll of the dice.
However, most players don't do this. When you are losing, it is easy to slip into a state of panic. You can't possibly absorb the losses you just took. You're hurt and a little bitter over what the casino has done to you. The main thought racing through your mind is how you are going to get your money back.
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Compulsion at the Casino
Maybe now is the time to place a few large bets. After all, since the casino has beaten you by winning many smaller wagers, it makes sense that if you can just win a few larger bets, you can win back all of your losses and maybe even get ahead.
You muster your resources and put together another five hundred dollars. But this time it will be different. Your plan is to wager $50.00 on a hard 6 or 8 for five consecutive tries. Since the payoff for a win is 9 to 1, if you can just win a couple of times, you will recoup most of your losses. You further reason that since a 6 or 8 is almost as easy to hit as a 7, this bet really isn't that risky, forgetting that the house edge is over nine percent.
You lay your cash on the table and ask the dealer for chips. You toss two green $25 chips, saying, "Give me a hard 8." The shooter rolls a 5, and then an 8, 5-3, the easy way. The stickman removes your bet and asks you, "Would you like your hard 8 back up?"
The game continues. You may win, which will encourage more of the same type betting. Or you may lose quickly. But one thing is for certain. You are now out of control. Your original plan has been thrown out the window. You are now playing the game the casino wants you to play. You are over betting on a long-shot proposition heavily favoring the house and your emotions are shot. The odds are very great the casino will wear you down in short order and keep your last heroic buy-in.
Many players come inadequately bankrolled to play against the casino. If you bring $500 and expect to make $1,000, you have great odds against you. If you bring $1,000 and will settle for making $200, then you have a much greater probability of success. I will have quite a bit more to add on bankroll in a few more chapters, but just remember that the casino has the bankroll to wait until you stumble, but you don't have that kind of money on your side. Generally, instead of trying to grind a win out of a casino, you will be much better off to use "hit and run" tactics, where you can put a comparatively small bankroll to good use by hitting the casino over and over for small wins. This is much like the strategy used by a mongoose fighting a cobra. The cobra will strike again and again at the mongoose. The mongoose knows that one successful strike will cause its demise and it jumps and weaves out of the cobra's strike path until finally the weary cobra leaves an opening and the mongoose grabs the cobra with lightening speed, overcoming a lethal adversary by using stealth and speed. The mongoose's approach is not a bad lesson for casino payers.
Compulsion, the casino environment and the house edge are the big guns in the casino's arsenal and should be feared in that order. I believe that most casinos would still be profitable even without the house edge as player compulsion is the greatest single contributor to casino profits.
Compulsion entails keeping tabs on yourself at all times. Having a plan will help you greatly. Most players just grab whatever amount of money that can find and play games that are most familiar to them, with no plan other than "winning." When you use the Advantage Roulette approach, you will know exactly how much to risk in each game, how much you expect to win, your maximum acceptable loss, when to leave a table. The value of having and following a plan is almost immeasurable. It will help you more than any other thing you might conceive of to beat the casinos.
Although the house edge is the least harmful of the casino's weapons, I am assuming that you will have the good sense to avoid the bets with the highest house edge against you. At roulette if you consistently wager large amounts on the inside bets using your favorite numbers, the odds are very good that you will lose much more often than if you stick to betting on even-money bets and columns or dozens.
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