Luck can be illusive. We all know that.
Sometimes I tune in to the financial programs on the radio. It’s fascinating to hear different assumptions and predictions concerning the stock market and other investments.
Some shows claim they’ve methods for timing the marketplace and others claim that timing the marketplace is impossible. Some say buy and hold is the only way to invest and others claim that you’ve got to track your investments and know when to get out. Some claim that real-estate is one of the worst investments and others say it’s one of the best.
Advice about casino gambling and luck is very similar to
the advice that’s available in regards to the stock market.
Casino gambling experts basically breakdown into two major types: Those who rely on the numbers and those that rely on luck and intuition. I’d argue that both views are correct – at times.
If you go strictly by the math, there are certainly some games that are better to play than others. Probably the best example of gambling using math versus gambling by luck alone is video poker compared to play on a slot machines. The story is that you can’t tell what your chances are whenever you play a slot machine plus you’ve no say in the outcome. However, in video poker you’ve the option of holding certain cards and the odds can be precisely calculated. While that may be true, from what I’ve seen, there’s lots of unlucky video poker players.
On the other hand, some of the biggest jackpots I’ve seen winners are won by slot machine players. And let’s not forget keno players and the Four Card Keno Chart Strategy many are using. Those are supposedly some of the worst games in the casino. So what’s going on?
As I said, there’s a certain amount of truth in both views regarding what’s going on in the casino. Over time, the numbers will always work out in favor of the casino. But in the short run, you are able to win at at any game at any time. The battle between playing by luck and the numbers will turn out to be about even in the short run.
So what can we learn from this? For many players it’ll boil down to the old saying, When you’re hot you’re hot, when you’re not you’re not. Yeah, yeah, not too profound, but it’s true.
May the good thing be yours.
