Thursday, January 10, 2008

Opinion: Slot Machines, the Essence of Chance


In my previous posts, I outlines the basic idea of what slot machines give you. They aren't exactly as exciting as a game of craps, and they don't involve as much skill or agency as most card games. So what do they offer?

1. Ease. let's face it, a lot of people truly enjoy participating in games of chance, but are intimidated by games with more complicated rules. Games like Omaha eight or better are really difficult. Even games like blackjack or craps require one to stay focused on the action. With slots, you have the inherent fun of just betting on something, without all of the effort and concentration.

2. Complete Chance. There must be something apart from the skill based and social aspects of casino gaming that appeals to people. Chance appeals to something fundamental in all of us, namely, the idea of hoping against hope. When you bet, you are betting on yourself to triumph against the odds. Slots still have that. Perhaps proportionately slot machines have even more of the excitement that comes with betting because there is nothing else involved, and because you can place more bets per hour.

Lady Luck and Slots: Part One



So, I've been writing some new content for the PokerChest website. Here's a little excerpt from the section on slot machines:

Remember, in the long-run variance won’t add up to that much. Slot machines are programmed to only pay you back a percentage of what you put in, and that percentage is always less than 100.

It's really interesting to me that people play at slots, a game that pretty much assures a loss and doesn't even seem enjoyable. Poker is not that sort of a casino game - if you know how to play, you can beat the house and your opponents in the long run. And even in a lot of the other card games, though it is statistically probable that you will lose, there is some level of agency. And, beyond all of that, most casino games of chance are fun. You are basically paying for the enjoyment of losing your money at Craps, for instance.

With Slots, that doesn't seem to be the case. It's all computerized. So, is it enjoyable? I mean, c'mon. Is it enjoyable to watch numbers blast out of a chute when you are playing lotto? I don't hear of those broadcasts having particularly high viewerships. I don't think it is quite so simple.

Next Post: My Theory.

Wednesday, January 9, 2008

Blackjack: More Tips

People often forget that the game of Blackjack is just as much about what the dealer has as it is about your own hand. Keep these few concepts in mind at the blackjack casino table:

- Remember, ten is statistically the value that has the highest probability of being drawn or dealt. That's because there is 4 cards that have values of ten (10-King). So, it always makes sense to think as though the dealer's other card is a ten.

- When the dealer shows a low card (2-6) feel free to play more conservatively. If he's showing a six, he probably is making a 16, a hand that is very difficult to Hit on without going over 21. So, if you make a 16, don't bother hitting on it.

- When a dealer shows a ten value card, play more aggressively. Likely, his other card is above a 17, so you might want to make a risky play.

Friday, January 4, 2008

Baltimore Seeks Casinos as a Solution

Pictured: Members of Baltimore mayor's task force on property tax relief (from left) state Sen. Verna L. Jones, Greater Baltimore Board of Realtors Vice President Joseph T. Landers III and city Comptroller Joan M. Pratt. (Sun photo by Jed Kirschbaum / January 3, 2008)

Baltimore has the highest property tax rate in the state of Maryland. In a time where many middle-class folks are feeling financial pressures due to mortgages with higher interest rates, there is a great interest in financial relief through reduced taxes. Today, the Baltimore Sun reports on a proposal that could bring about change.

Mayor Sheila Dixon thinks she may have the solution for beleaguered homeowners: casinos. For the past 10 years, Marylanders have been debating over introducing the casino industry into the state. (Baltimore currently allows slot machines, which is still a source of controversy for some.) Dixon and her supporters argue that casinos tend to bring in great revenue to the city through tourism and many of these tourists tend to be wealthy. According to her calculations, casinos could bring down property tax rates by 17 cents.

Although there is some resistance from other leaders and legislators, a committee in favor of casinos calculates that the city can earn up to $45.9 million, whereas slots bring in only $32.8 million.

Thursday, January 3, 2008

Leading Venture Capitalist Funds Gambling Site

Text Messaging Bets? End of the World According to One Bored Blogger


TechCrunch reports today that Balderton Capital, a top venture firm, will be providing an undisclosed amount of financing to betNOW, a gambling website. Balderton has already invested in other websites such as Bebo, Codemasters, and Setanta, so this is not a new arena for the firm. Balderton's Tim Bunting will join betNOW's board as well.

This new arrangement bothers the blogger at TechCrunch, Michael Arrington, who opines, "Generally speaking, anyone who's placing bets on sporting events via their mobile phone probably has a gambling problem, which betNOW is exploiting." I would think the opposite, since the ease of new technology makes it easier for casual gamblers to indulge in the interest. Arrington then goes on to proclaim that "Gambling in general has a taint to it - historical ties to organized crime doesn't help." Again, the concern seems a bit overblown. Organized crime was tied to casinos decades ago, but these websites were obviously not around then.

The truth is that betting and gambling have taken new forms because of technology. Placing bets by text messaging is nothing compared to what the internet has done for poker games, casino games, and the like. Overall, games of chance have enjoyed renewed popularity in the United States, but not just in traditional casino cities. The average joe is now able to square off against computers and online players in web-based, software, and video games. He or she may also host personal poker parties in their garages or attend casino nights at work, church, or charities. These games have returned not only in traditional forms, but also in ways that are refreshing from the old-fashioned stereotypes of gambling.

Even now, a person can purchase affordable gambling supplies that run the gamut: poker tables, casino tables, custom chips, and playing cards. It has become, in a way, more democratized, diverse, and more distant from the seemingly seedy world of Vegas casinos where the "house always wins."

Wednesday, January 2, 2008

Blackjack Basics: Strategies for the Beginner


Blackjack is one of the most popular card games at casinos. It may be even more popular than poker. Its rules are pretty simple and requires only a few minutes to learn. But let's say you're new to the game. Here are some good tips to take away with you, whether you're at a casino, at an event, at a party with friends, or at home.

But first, here are some terms you need to know:
Hit: Take another card.
Stand: Take no more cards.
Double down: Double your wager, take exactly one more card, and then stand.
Split: Double your wager and have each card be the first card in each hand. (This is only possible when both cards have the same value.
Surrender: Forfeit half the bet and give up the hand. (This option is sometimes not available.)

1. Play at the tables with the most favorable odds.
2. Play with the fewest decks possible. According to calculations, switching from 1 to 2 decks will handicap you by -0.35%. With 4 decks, that number goes to -0.48% and with 6 decks it is -0.54.
3. Remember the cards that are dealt in previous rounds. This way, you can rely on statistical probability.
4. If you are given cards that amount to 9 or less, hit.
5. If you are given cards that amount to 17, stand.
6. If you are given a soft 17 (an ace with a 6, then you cannot bust), double down.

Enhance and organize your game with the right accouterments. Blackjack card shoes help to sort your cards while accessories can really emit that true Vegas casino feel.