50 50 Chance
This is one of those chapters you won't like because you won't believe the message: "in gambling, our chances of winning are never better than 50 50."
In Roulette, there are 18 red numbers and 18 black numbers, plus the 0 and 00. That's about a 50¬50 chance of one of those colors showing. Even less if you figure in the 0 and 00.
Same is true if you bet odd or even in Roulette. There are 18 odd numbers and 18 even numbers. Go over to the Low and High bet. Eighteen of those numbers are low (1 18) and eighteen are high (19 36). It's always about a 50 50 shot.
Baccarat has Bank and Player as its two options. That's a 50 50 proposition. Craps, Blackjack, even perfect players have no better than a 50 50 chance. In fact, with Blackjack you gotta be a perfect basic strategy player to even get to that level.
In sports you get to choose one of two teams. That's a 50 50 decision last time I counted.
I'm the best player in the casino, in picking sporting events, in playing poker. So what are my chances of winning when I make my bet? 50 50 and I know it. Being a perfect player does not give you an edge.
It reduces your chances of losing. You never get an edge in gambling and if somebody tells you he can get you an edge, he's not operating on all cylinders. In layman's terms, he's flat out lying to you.
There ain't nothing you can teach me about gambling and yet I can't have better than this 50 50 shot. That's the reality of it.
Then why gamble? You tell me. But you're gonna gamble and the ONLY thing that can save you is managing your money properly, accepting small returns, cutting losses, utilizing Trends and not giving back all of the profits on the days you do get ahead.
I will give you this statement several times in the book. Memorize it: "Seventy percent of the people who gamble during the course of a week will get ahead. Ninety percent of that seventy percent will give the money back." Read it again. 50 50 ... that's it.
In Roulette, there are 18 red numbers and 18 black numbers, plus the 0 and 00. That's about a 50¬50 chance of one of those colors showing. Even less if you figure in the 0 and 00.
Same is true if you bet odd or even in Roulette. There are 18 odd numbers and 18 even numbers. Go over to the Low and High bet. Eighteen of those numbers are low (1 18) and eighteen are high (19 36). It's always about a 50 50 shot.
Baccarat has Bank and Player as its two options. That's a 50 50 proposition. Craps, Blackjack, even perfect players have no better than a 50 50 chance. In fact, with Blackjack you gotta be a perfect basic strategy player to even get to that level.
In sports you get to choose one of two teams. That's a 50 50 decision last time I counted.
I'm the best player in the casino, in picking sporting events, in playing poker. So what are my chances of winning when I make my bet? 50 50 and I know it. Being a perfect player does not give you an edge.
It reduces your chances of losing. You never get an edge in gambling and if somebody tells you he can get you an edge, he's not operating on all cylinders. In layman's terms, he's flat out lying to you.
There ain't nothing you can teach me about gambling and yet I can't have better than this 50 50 shot. That's the reality of it.
Then why gamble? You tell me. But you're gonna gamble and the ONLY thing that can save you is managing your money properly, accepting small returns, cutting losses, utilizing Trends and not giving back all of the profits on the days you do get ahead.
I will give you this statement several times in the book. Memorize it: "Seventy percent of the people who gamble during the course of a week will get ahead. Ninety percent of that seventy percent will give the money back." Read it again. 50 50 ... that's it.
© Copyright 2005 John Patrick's material. It may not be published, broadcast, rewritten, or redistributed.