Casinos And Investing: Probability Versus Possiblity
If you serach for online casinos at the moment there are thousands of casinos around at the moment, both online and land based. But can it be done? If you search or visit the best online casino can you find a source of betting systems that don’t require you to pay $100’s up-front with no proof that they work? Can any betting system work at a casino? This site offers listings of top rated online casinos including those that accept US players and features a forum.
With the right system, and most importantly, the right discipline, it can be done. Casinos typically work to a ‘House Edge’ of 1 to 5%. For every $100 gambled, the player will lose $1 to $5. It doesn’t sound like much, but in a multi-billion dollar industry it’s enough to make online casinos some of the most profitable sites in the world, and to build Las Vegas up from nothing in just a few years.
A whole lot of people will tell you that it is impossible to overturn this edge, and from a purely mathematical point of view they are correct. The Laws of Probability mean that you cannot turn a negative into a positive. If you are playing Roulette, and Black has come up 10 times in a row, the odds of it coming up next time are still 50/50. (Ignoring the ‘0’ and ’00’) According to the Laws of Probability, there is no reason why Black cannot come up 100 times in a row. This argument, while scientifically sound, ignores the Law of Possibility, which means that in the real world, the chances of Black coming up 100 times in a row is so slight that it can be ignored.
This doesn’t mean that you can gamble recklessly and expect to win. You need a good system, and the discipline to quit while you are ahead, which is where most gambling systems come apart. Set yourself the target of winning, say, $50, and quit as soon as you have achieved it.
Gambling is a game, a contest. When you gamble, you take a chance that you will increase your money. You give your money to a Golden Casino or other gambling venue and hope that you will get the right role, the right cards, or the right horse will win. You could make a lot more money or you could lose it all depending on whether or not something happens. There’s no way of knowing what will happen.
Blackjack is one of the casino games, which provides the greatest advantage to its players. In fact, in some variations of the game, the players have a slight better edge over the casino. There are many Blackjack strategy guides available online that teach you how to play Blackjack with the best chance of winnings. If you have not learned one of the Blackjack strategies that work best for you, it will be a good idea to get one of those guides and learn to master the skills before you play the game with your hard-earned money.
So, is investing the same as gambling? It can be. But if you diversifying your investments, have patience during the bad years, and match your portfolio to the time you have until you need the money you won’t eliminate risks, but you can eliminate the effect of those risks. That’s the way the casino owner can still smile when writing a $1 million check to a super-grand-mega-winner in slots. It’s because he’s looking at all of the other machines digesting a whole lot of quarters.