In my book, there are 2 rules of winning at the casino, and you must practice them. You must take advantage of the laws of probability. The second rule: If your odds are .1 times as powerful as the odds of the house, odds can always be overcome.
I have an example where, let’s say you have 3% chance of winning, and you get 10% chance. You now have 2% chance of winning . . . but there is a simple math problem you may be wondering: If the odds that an event gets 1% chance is 1/3 and the odds that it gets 1/2 is 1/2, then how can you explain that you have two more chances of winning than any casino would allow you to have.
If there is a 1/3 chance that you win, then there is a 2/3 chance that you win. And if there is a 1/2 opportunity that you win, then you have a 2/3 chance to win.
The real solution to this problem is that you need at least 3% actual chance of winning in order for the casino to allow you to have higher odds than the house does. So that is the first rule of winning. If you are having 1% chance, the house will let you lose a small percentage, so let’s say 1% chance. If you are having .85 chance, the house will let you win .85%, so let’s say 2%.
Of course, sometimes it is easy to get lucky, and you get almost 2% chance, but that is the exception, you always have a small chance of winning. In that scenario, if it seems like your chances are too low, look for an opportunity to overcome odds.
The second rule that applies to the odds of a house, is you must be smarter than all the other house’s house. The third rule of gambling is a little bit different in that, it is more about strategy than it is luck, but you should still practice it. For example, the third rule says the dealer is always right until the house chooses a bet. Since the house has to make a decision before the dealer, and the dealer is always to the advantage, the dealer can be smarter than all the other house’s house by not choosing one of the house’s bad bets and instead choosing one of its good bets on the fly.
In the case of poker, the third rule usually translates into “always bluff with your hand,”
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