How to Beat the Odds in Las Vegas Casinos

The old adage is true: the house always wins. Las Vegas casinos have the odds stacked in their favor, and while some canny gamblers may buck the system, the remainder provide casino owners with fat, happy profits at their customers' expense. Professional gamblers thrive in Vegas because they know how to play the games, they understand what the odds are and they carefully evaluate their chances to lower the risk as much as possible.

Instructions

Beating the Odds in General

1. Set a winning goal and a losing limit before you sit down at the table. This is one of the most basic rules in Vegas gambling: if you're up, you need to have the discipline to walk away without becoming greedy. If you're down, you need to know when to cut your losses and walk away. Define those terms before you start playing by setting a bankroll (for example, $100) and a reasonable amount you expect to make from it (for example $50). When you hit $150, walk away. When the $100 is gone, walk away. To do otherwise risks taking a major bath.

2. Start small. Betting small amounts early on lets you mitigate the damage if the cards/dice/wheel don't go your way. Bet in a denomination you feel comfortable with--$1, $5, $20--then slowly work your way up to larger figures as you start to amass winnings. Always measure it as a percentage of your stake and always keep that percentage in mind as you proceed. When you lose, revert to the original small betting figures and work your way up again. A good general rule is to only bet half of what you're willing to risk: if you're comfortable risking $100, then risk $50 instead. It gives you at least one more shot rather than blowing it all.

3. Choose games that are not stacked in the house's favor. A reliable dividing line is three percent. Games slanted towards the house by three percent or less are decent bets. They include live poker, video poker, blackjack (see Section 2 below), craps (see Section 3 below) and certain kinds of slot machines. Games stacked more than three percent in the house's favor should be avoided, including roulette, Keno and Big Wheel games.

4. Know the games you play. Strategies vary wildly depending upon the game and a knowledge of Texas Hold 'Em poker won't do you much good at the blackjack tables. The better versed you are in the strategy of your favorite form of gambling--weighing the odds in each situation and knowing when they are in your favor--the smarter your decisions will be.

Beating the Odds at Blackjack

1. Play Blackjack. It's one of the most reliable games as far as strategy goes, and can net you decent money if you play it right. The object is to get a number of cards that number as close to 21 as possible without going over. Face cards count at 10, aces count as 11 or 1. You compare your cards to those of the dealer; whoever has the highest total wins.

2. Pick a version where the dealer must hit on 16 and stand on 17. That increases your odds right off the bat.

3. Take a hit (get another card) if your two-card total is less than 9. Stand if your two-card total is 17 or higher, provided neither of them is an ace.

4. Use basic strategy. If your cards total between 12 and 16, analyze the dealer's up card. If it's 6 or lower, take a hit. If it's 7 or higher, stand pat. If your cards total 10 or 11 and are greater than the dealer's up card, then "double down" (double the bet) and take one more card total.

5. Split pairs. If you have a pair of cards that aren't 4s, 5s or 10s and the dealer's up card is 6 or less, then "split" them--in which case you divide the hand in two and receive new cards for each. Always split aces and 8s, no matter what the dealer is showing.

How to Beat the Odds at Craps

1. Play craps with an eye on the other players as much as your own strategy. Confidence is a good indicator. If the shooter looks confident and/or takes his time rolling the dice, he's probably a better bet than a shooter who appears nervous or ill at ease.

2. Diversify your bets. For example, it the table is cold, place a modest bet on the Pass Line, single odds on a 5 or 9 and double on a 6 or 8. If the latter numbers hit, then take the bet down, and revert to single odds on a 6 or 8 afterward.

3. Bet on the 6 or the 8 following the come out roll. If either hit wins, then cut your bet in half and continue betting until 7 appears.

Tips & Warnings

• A good way to beat the odds when gambling is to immediately pocket any winnings you make. Gamble only with your set bankroll and set the winnings you earn as "off limits."

• Never bet more than you can afford to lose in Vegas. Set a bankroll that won't hurt you if it vanishes in a puff of smoke and resist the urge to add to it as you go along. Otherwise, you may find you debt ballooning past your ability to reasonably manage it.