My late mentor, the Atlantic City legend known as the Captain of Craps, taught me many valuable concepts when it came to gambling in general and casino gambling in particular. One of the most important was his idea that risking one’s money in a casino had to be a “manageable thrill.”
“You can’t bet too little because there is no thrill in that. An under-bet is really no bet,” he said. “An under-bet could be considered dull and not worth the time to make the bet.
The year 2012 was a sweet one for celebrity poker pro Phil Ivey and Cheung Yin “Kelly” Sun, a woman who would become known as the Queen of Sorts.
Among all the skills needed to get the most out of casino games online and offline, one of the most important for casino players is choosing your wagers wisely.
And an important part of choosing your wagers wisely is knowing which bets never to make.
Sometimes that means avoiding bets with extraordinarily high house edges. Sometimes it means skipping a bet because a better option is available that accomplishes the same thing with a lower house edge.
On the morning of June 14, sports betting became officially legal in the state of New Jersey. It is only fitting, then, that the first person to place a bet that day was Phil Murphy, Governor of New Jersey. Proponents of legalized sports betting spent the last seven years fighting for New Jersey residents to gain the simple right to legally bet on games in their state. And now Murphy was about to do it. He wagered a mere $20 on Germany to win the World Cup and another 20 on, of course, the Jersey Devils hockey team to take next year’s Stanley Cup.
James Grosjean has never been one for mincing words or suffering fools. Still, several years ago, when I bragged to him about having strong card counting skills, I couldn’t help but be taken aback by his response. He told me that he thinks of casino advantage players - that is, sharp people who deploy strategies to beat the games - as evolutionary. “Card counters are salamanders crawling out of the water,” one of the most brilliant, most lauded advantage players in history told me. “Meanwhile, I am a fully evolved human.”
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