There are hundreds of betting strategies out there claiming to beat the casino odds and guarantee success. While they may seem promising at first glance, the fact is you cannot overcome the house edge. Whether you play or gambling sites, the house will always have the advantage.
Below we have identified several of the most popular betting strategies and explained the flaws behind each one. It is important to note that people do win in casino games while implementing these strategies, but their success is a result of luck of best Netent casinos, not the betting system.
Gambler's Fallacy
The Gambler's Fallacy is one of the most common theories in the gambling industry. The belief is that the more an expected event fails to occurs, the more likely it is to occur in the future. For example, if a coin is flipped repeatedly and lands on heads five times in a row, the Gambler's Fallacy predicts that there is an increased likelihood of the next flip landing tails. This theory is false.
The Gambler's Fallacy is typically applied to best casino games like roulette and craps. Every spin in roulette, and every roll of the dice in craps, is an independent action; the result of one turn has no influence over the result of another. The Gambler's Fallacy was made famous in the Monte Carlo Casino, where a roulette wheel had 26 black spins in a row in 1913.
Martingale System
This strategy is a specific betting system, rather than a gambling theory. The Martingale works by doubling each bet you place until you eventually win. The idea is that statistically you are bound to win eventually, and doing so will reclaim all of your losses plus a profit equal to your initial bet.
Fibonacci System
The Fibonacci Betting System dates back nearly 900 years. This strategy follows the same principle as the Martingale, but is a more gradual approach. Rather than doubling each sequential bet, the following algorithm is used:
Fibonacci Algorithm: 1-1-2-3-5-8-13-21-34, etc.
In this series, each bet equals the sum of the two previous bets. Players continue through the progression after every loss, but jump back two spaces after a win. For example, a $13 win would mean your next bet is $5.
Using the Fibonacci betting strategy, losses are reclaimed two at a time. The system ends when the player has returned to the original bet and won. The Fibonacci is flawed for the same reasons as the Martingale, although the gradual approach helps limit the size of your losses.
Paroli System
The Paroli betting strategy differs from any of the above systems. The Paroli is intended to take advantage of hot streaks and typically results in short terms losses with the occasional big win. Players increase bets by a predetermined amount for a predetermined number of winning wagers. For example, a 1-2-3-6 sequence might be used.
Players should place even-money bets (ones that payout 1:1) and only progress through the system after a win. Anytime a loss occurs, the system restarts. If four bets are won in a row, the player pockets the money and restarts the system. Results from the Paroli system look like this:
- Lose bet one or two: 1 credit loss
- Lose bet three or four: break even
- Win all four bets: 12 credit total win (12:1 overall payout)
Final Thoughts
These are just four common betting strategies, but the list goes on. The house edge is an inherent part of every casino game, and merely altering the way bet on these games will not affect the overall outcome. The best betting strategy you can use is a good awareness of the odds, game rules, and payout ratios of every gambling game you play.
Thank you for using the Fashion Industry Network. Have you helped another member today? Answer questions in the forum. It brings good luck.