Jul 26

What Is Money Management?

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Many bettors refer to money management as the most important thing that separates the winners from the losers. A winning bettor can still go broke if they cannot practice effective money management. Money management is just what it sounds like. It is the way a bettor manages the money available in his bankroll. Proper money management will help gamblers ride out the inevitable bad streaks. These bad streaks, as well as winning streaks, are known as variance. Variance is basically the short-term Read more [...]
Jul 26

What Is the Kelly Criterion?

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The Kelly Criterion involves a simple mathematical formula that determines the most predominant way to optimize a series of bets. Devised by a man named J.L. Kelly, Jr. in 1956, the Kelly Criterion is a high risk mathematical formula which economists and other financiers use when wagering money or other items of value. In most scenarios in which this method is used, this strategy does perform better typically than other similar theories. How Does the Kelly Criterion Work? The Kelly Criterion Read more [...]
Jul 26

What Is the House Edge?

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In any casino game, the house wins more than it loses. Understanding the house edge casinos hold over players helps gamblers make better use of their money. Playing smarter helps improve the odds over the short term and increases the amount of time, and enjoyment, a person can get from gambling. How Does the House Edge Work? The house edge represents the built-in advantage casinos have in games of chance. As a number, casinos consider it the average profit they make per bet. Without it, casinos Read more [...]
Jul 25

The Martingale System: Does It Work?

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Once players start to get deeper into the world of gambling, they start to hear about many different kinds of betting systems. One of the simplest and most popular of these betting systems is the Martingale System. It is an easy-to-use system that many players enjoy. How Does the Martingale System Work? The first thing to know about the Martingale System is that it is used with bets with even odds payouts. In other words, the Martingale is used by gamblers who are playing a game that pays out Read more [...]
Jul 25

What Are Betting Systems?

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Gamblers are always looking for that little edge that will give them an advantage when they place a bet. Maybe it's a hot tip on a horse. Maybe it is getting better odds than the risk should justify. Veteran gamblers often place their wagers based on betting systems. How Does a Betting System Work? A betting system works by setting rules, defining parameters and helping users of the system win more often. Some systems are quite detailed and elaborate. Other systems are little more than common Read more [...]