8 ways to Gamble Smart Last update: July 2019 I know, some people consider "gambling smart" to be an oxymoron. After all, wagering on games where you'll probably lose does sound kind of stupid. As one person told me, "If I ever feel like gambling, I just drive by the casino and throw some money at it." So if you don't want to gamble, I don't blame you. I even made a list of other things to do in Vegas. On the other hand, with proper strategy, you can expect to lose less than $10/hour. That's about what you'd spend on a movie, and a lot less than many other forms of entertainment. For someone who can easily afford a $10 loss, I have a hard time calling that stupid. So if you're intent on gambling, let's learn how to do it right. 1. Set a daily loss limit. There's a sure-fire way to avoid losing too much: Set a daily limit for how much you're willing to lose, and when you lose it, stop playing. I know, you'll say that's either too obvious or no fun, and I'm trying to harsh your mellow. Whatever, but the fact remains, if you make a loss limit and stick to it, then you'll never get in over your head. Don't set only a trip limit, because you might lose it all on the first day of your trip. A trip limit and a daily limit is the way to go. Set it and respect it! 2. Quit while you're ahead. You'll do this by setting a session win limit. Pick an amount that you'd be happy to win, say $50, $100, $300, whatever. If you get ahead by that much, then stop playing, at least for a while. If you keep playing, you're likely to just give your winnings back to the house. You will have blown not just your winnings but the opportunity to feel like a winner for more than a few minutes. So stop, and do anything besides gambling. Whatever it is you're doing, you'll feel like a winner while you're doing it. It beats feeling like a loser, which is how you feel if you turn around and give your winnings right back to the casino. If you absolutely must continue to play, then set your winnings aside and never play them; play only your original bankroll. 3. Calculate your average loss. Don't fly blind, get an idea for how much you'll lose on average. My Average Loss Calculator makes quick work of that: Turn your phone sideways for a better calculator! Average Loss Calculator Game Rounds / RollsPer Hour Bet per round House Edge Average Avg. Loss for 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 20 25 50 100 200 300 400 500 1000 2000 hour(s) hrs of play Slots > 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 1¢ 2¢ 5¢ 10¢ 25¢ 50¢ 75¢ $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 $2.50 $2.70 $3.00 $4.00 5.00 6.00 0.5% 1% 2% 3% (Bovada, educ. guess) 4% (25¢, Vegas locals) 5% ($1, Vegas locals) 6% ($1, Vegas downtown) 7% (25¢, Vegas downtown) 8% ($1, Vegas strip) 9% (5¢, Vegas strip/DT) 10% (1¢, Vegas locals) 11% (25¢ Vegas strip) 12% (1¢, Vegas downtown) 13% (1¢ Strip, 5¢ Venetian) 14% 15% (5¢, McCarran airport) 22% (Megabucks, no JP) 0.5% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 22% $ Video Poker 300 400 500 600 700 800 900 1000 1¢ 5¢ 25¢ 50¢ $1.25 $2.50 5.00 0.5% (9/6 Jacks or Better) 1.6% (8/6 Jacks or Better) 2.7% (8/5 Jacks or Better) 4.1% (8/5 JoB single-coin) 3.9% (7/5 Jacks or Better) 5.0% (6/5 Jacks or Better) 0.5% 1.6% 2.7% 3.9% 4.1% 5.0% $ Roulette 35 6 players 48 5 players 45 4p, source 2 55 4p, source 1 48 3p, source 2 60 3p, source 1 49 2p, source 2 76 2p, source 1 81 1p, source 2 112 1p, source 1 ---------- 140 online, slow 200 online, med. 260 online, fast 35 6 plyrs 45 5 plyrs 55 4 plyrs 2 plyrs 1 plyr 112 turbo 140 online 200 online 260 online $5 $10 $15 $20 $25 $50 $100 7.69% (Triple-zero / 000) 5.26% (American / 00) 2.70% (Single-zero / 0) 2.63% (00 with 1/2 back) 1.35% (0 with 1/2 back) 2.70% 5.26% $ Baccarat 52 (7 players) 60 (6 players) 70 (5 players) 84 (4 players) 105 (3 players) 138 2p, source 2 139 2p, source 1 125 1p, source 2 209 1p, source 1 ---------- 250 online, slow 350 online, medium 530 online, fast 52 7plyrs 60 6plyrs 70 5 plyrs 84 4 plyrs 105 3 plyrs 138 2 plyrs 209 1 plyr ---------- 250 online 350 online 530 online $5 $10 $15 $20 $25 $50 $100 1.06% (Banker) 1.15% (Half & half) 1.24% (Player) 1.06% 1.15% 1.24% $ Craps 102 (11 players) 123 (9 players) 135 (7 players) 144 (5 players) 216 (3 players) 203 1p, source 2 249 1p, source 1 ------------- 160 online, slow 240 online, medium 335 online, fast 102 11plyrs 123 9 plyrs 135 7 plyrs 144 5 plyrs 216 3 plyrs 203 1player 249 1p fast ------------- 160 online 240 online 335 online $5 $10 $15 $20 $25 $50 $100 1.40% Don't Pass 1.41% Pass Line 1.52% Place 6 or 8 1.82% Place to lose 6/8 2.50% Place to lose 5/9 2.78% Field 3.03% Place to lose 4/10 4.00% Place 5 or 9 4.76% Buy 6 or 8 4.76% Buy 5 or 9 4.76% Buy 4 or 10 5.56% Any craps, 7.5:1 6.67% Place 4 or 10 9.09% Big 6/8, Hard 6/8 11.1% Hard 4 or 10 11.1% Any craps, 7:1 16.7% Any seven 1.36% 1.41% 1.52% 1.82% 2.50% 2.78% 3.03% 4.00% 4.76% 5.56% 6.67% 9.09% 11.1% 11.1% 16.7% $ Blackjack 52 (7 players) 60 (6 players) 70 (5 players) 84 (4 players) 105 (3 players) 80 2p, source 2 139 2p, source 1 148 1p, source 2 209 1p, source 1 -------- 200 online, slow 300 online, med 550 online, fast 52 7playrs 60 6players 70 5players 84 4players 105 3 plyrs 148 1 plyr 209 1p fast -------- 200 online 300 online 550 online $5 $10 $15 $20 $25 $50 $100 0.16% 1D H17 DAS 0.27% 1D H17 RSA 0.26% 2D S17 DAS 0.30% 1D H17 ------------ 0.15% 2D S17 DAS RSA Sur 0.20% 2D S17 DAS RSA 0.20% 2D S17 DAS Sur 0.29% 2D S17 RSA Sur 0.34% 2D S17 RSA 0.34% 2D H17 DAS RSA Sur 0.35% 2D S17 Sur 0.39% 2D H17 DAS Sur 0.40% 2D H17 DAS RSA 0.46% 2D H17 DAS 0.48% 2D H17 RSA Sur 0.54% 2D H17 Sur 0.55% 2D H17 RSA ------------ 0.29% 6D S17 DAS RSA Sur 0.35% 6D S17 DAS Sur 0.36% 6D S17 DAS RSA 0.43% 6D S17 DAS 0.43% 6D S17 RSA Sur 0.48% 6D H17 DAS RSA Sur 0.50% 6D S17 RSA 0.50% 6D S17 Sur 0.55% 6D H17 DAS Sur 0.57% 6D H17 DAS RSA 0.63% 6D H17 RSA Sur 0.64% 6D H17 DAS 0.69% 6D H17 Sur 0.72% 6D H17 RSA ------------ 0.50% 8D H17 DAS RSA Sur 0.57% 8D H17 DAS Sur 0.59% 8D H17 DAS RSA 0.64% 8D H17 RSA Sur 0.66% 8D H17 DAS 0.71% 8D H17 Sur 0.74% 8D H17 RSA ------------ 1.00% 3:2, imperfect play 1.66% 8D 6:5 S17/DAS/RSA/Sr 0.16% 0.27% 0.26% 0.30% --- 0.15% 0.20% 0.20% 0.29% 0.34% 0.34% 0.35% 0.39% 0.40% 0.46% 0.48% 0.54% 0.55% --- 0.29% 0.35% 0.36% 0.43% 0.43% 0.48% 0.50% 0.50% 0.55% 0.57% 0.63% 0.64% 0.69% 0.72% --- 0.50% 0.57% 0.59% 0.64% 0.66% 0.71% 0.74% --- 1.00% 1.66% $ Play online casino games with fake money! It's better than losing real money. 4. Don't play slots. Slots bleed you dry quickly. Check the average loss calculator above and see what I mean. If you must play slots, then see my page on slot strategies. 5. Play only Blackjack, Craps, or Baccarat. As you'll see from the Average Loss Calculator above, these are the only games that won't bleed you dry. Video poker can be a good bet if (1) you can find a decent machine, like 9/6 Jacks or Better, but those are extremely rare on the strip, and (2) you use the proper strategy. If you just guess, your loss will be so high that you might as well be playing slots. 6. Use the proper strategy for whatever game you're playing. The figures shown in the Average Loss Calculator assume that you're making the best plays. If you make bad bets or bad strategy, your loss will be much higher. 7. Bet small and play slowly. The more you bet the more you'll lose. And the faster you play, the more you'll lose. So, bet small and play slowly. The best way to play slowly is to play at full tables. It's fun to play with other people, anyway. 8. Get a player's card and use it. Every casino has a Player's Club desk where you can sign up for a Player's Card, and it's always free. This is absolutely the best deal in Vegas, for many reasons: You often get something good just for signing up, like a hat, a deck of cards, or valuable coupons that are actually worth using. Just by signing up for the card, there's a good chance you'll get mail offers for free or deeply discounted rooms. Even if you don't gamble at all. If you do gamble, you can get even more goodies like free meals, show tickets, and rooms. See my article on getting comps. Related articles: Figuring your expected loss Figure how much you can afford to bet All about betting systems
