I'm a firm believer that all online casino gamblers would be better off if they dropped online gambling slot machines from their repertoire altogether and stuck with the online table games.
Roulette is a game of chance after all, and online casinos protect themselves against the best roulette strategies by implementing minimum and maximum limits. You can choose between many different roulette. Free roulette vs. Real money roulette. You can enjoy roulette for free online. This can be to learn the rules or practice different betting strategies — or simply for entertainment. When you switch over to real money roulette, the spin of the wheel gets a whole lot more exciting.
You'll have more fun and lose less money in the long run if you stick with online table games like blackjack, craps, and even roulette.
This post looks at the math behind the games and why table games are so much better for the player. I also offer some recommendations about which online table games to try and why.
How Average Losses Work in Casino Games
All casino games have a built-in edge for the casino. This 'house edge' can be expressed as an average amount of each bet you can expect to lose in the long run, and that number is always expressed as a percentage.
If you're playing a game with a 5% house edge and betting $10 per round, your expected loss per bet in the long run is 50 cents.
Obviously, the more bets you place, the higher your expected loss is.
One way to look at casino games is to look at how much money you can expect to lose per hour when you're playing them.
Average bet size X number of bets per hour X house edge = expected hourly loss
If you're playing an online slot machine with a house edge of 5%, and you're spinning the reels at 600 spins per hour, and you're betting $1 per spin, your expected loss is easy to calculate:
$1 X 600 bets per hour X 5% = $30/hour
This is, of course, an estimate, but if you gamble long enough, your actual results should start to resemble the mathematically predicted results.
If you lower any of those 3 factors, you can reduce the expected loss per hour.
For example, if you decide to play slot machines half as fast as the average person, your expected loss per hour drops to $15 instead of $30—even though you're playing the same game at the same stakes.
This leads right into my discussion of why table games are better even though they seem like they'd be more expensive.
Why It Only Seems Like Table Games Are More Expensive
The minimum bet at most table games in most online gambling sites is $5 or $10. For a slot machine player who only bets $1 per spin, that might sound like a lot of money.
Also, the house edge for most table games is lower than the house edge for most gambling machines.
Finding a slot machine with a house edge of only 5% is a trick in itself. At most online casinos, the house edge for an average slot machine is probably closer to 10%.
Even roulette, with its house edge of 5.26%, is better than that.
But look at it from the perspective of your average loss per hour:
Let's say you're playing online roulette for $5 per spin. You're probably looking at 50 bets per hour, maximum. And you already know that the house edge is 5.26%.
Your average loss per hour on this roulette game is:
$5 X 50 bets per hour X 5.26% = $13.15
That's less than half of your expected loss on the slot machine you're playing for $1 per spin, even though you're wagering 5 times as much per spin.
Look at a game like blackjack, where if you learn basic strategy, you can get the house edge down to 1%. If you're at a table where the dealer is getting in 70 hands per hour, you're looking at the following average loss:
$5 X 70 bets per hour X 1% = $3.50
I don't know of many forms of entertainment as fun as blackjack for $3.50 per hour.
It's Okay to Ask the Dealer Questions
You might have other objections to playing online table games instead of online slot machines. Maybe you're afraid that you won't know how to play.
Here's the thing about that:
You can learn to play most table games in practically no time at all. The casinos, in fact, have a vested interest in making the games easy for you to learn so that you'll be more likely to play.
You can also find online casino game tutorials all over the internet. Free versions of these games are also available. Between the tutorials and the free games, it should be easy to learn to play any casino table game you can imagine.
Don't be shy about asking a dealer questions while you're playing. My partner and I visited a casino recently, and he sat down to play Mississippi Stud without ever having played before. We were the only 2 players at the table for most of the night, and the dealer had no problem explaining how to play the game.
We had a blast, and we didn't lose much money that night, either. We wound up with some good hands early, so we ratholed enough winnings that we were playing with house money for the rest of the night.
Which Table Games Should You Play?
ANY online table game is better than an online slot machine.
But some online table games are better than others.
Your temperament makes a difference, too.
The game with the best odds in almost any casino is blackjack, but to achieve that low house edge of between 0.5% and 1%, you must learn basic strategy. If you're not willing to learn it, you can also bring a basic strategy chart to the table with you and consult it on every hand.
Craps is another table game you should consider. It's fun and exciting, and the house edge is relatively low if you stick with the basic bets (pass, come, and odds).
The drawback with craps is that it can seem overwhelming if you're not familiar with the game. Luckily, it's easier to play than most people think. And once you get it, you've got it.
Roulette gets looked down on by a lot of 'serious' gamblers because the house edge is so high compared to other games.
Those snobs who ignore roulette aren't taking into account the relatively sedate nature of the game. Most roulette tables, especially the full ones, are moving so slowly that you're only placing 30 to 50 bets per hour.
This means that your losses are correspondingly lower, too, because you're just not putting that much money into action per hour.
The even-money bets on the roulette table are ideal for betting systems like the Martingale, of which I'm a fan. That puts me in the minority, but I love the Martingale system.
The trick with the Martingale is to accept that it won't work in the long run.
You just have to accept that you're going to walk away a big loser some of the time, too.
And when you average those big losing sessions with the smaller winning sessions, you'll still be a net loser.
The new breed of poker-based table games are all fun in their way, too, and many of them include a strategic element. My partner loves Mississippi Stud, for example, but I'm a bigger fan of Let It Ride. I think most players probably prefer Mississippi Stud.
Also, the house edge for most table games is lower than the house edge for most gambling machines.
Finding a slot machine with a house edge of only 5% is a trick in itself. At most online casinos, the house edge for an average slot machine is probably closer to 10%.
Even roulette, with its house edge of 5.26%, is better than that.
But look at it from the perspective of your average loss per hour:
Let's say you're playing online roulette for $5 per spin. You're probably looking at 50 bets per hour, maximum. And you already know that the house edge is 5.26%.
Your average loss per hour on this roulette game is:
$5 X 50 bets per hour X 5.26% = $13.15
That's less than half of your expected loss on the slot machine you're playing for $1 per spin, even though you're wagering 5 times as much per spin.
Look at a game like blackjack, where if you learn basic strategy, you can get the house edge down to 1%. If you're at a table where the dealer is getting in 70 hands per hour, you're looking at the following average loss:
$5 X 70 bets per hour X 1% = $3.50
I don't know of many forms of entertainment as fun as blackjack for $3.50 per hour.
It's Okay to Ask the Dealer Questions
You might have other objections to playing online table games instead of online slot machines. Maybe you're afraid that you won't know how to play.
Here's the thing about that:
You can learn to play most table games in practically no time at all. The casinos, in fact, have a vested interest in making the games easy for you to learn so that you'll be more likely to play.
You can also find online casino game tutorials all over the internet. Free versions of these games are also available. Between the tutorials and the free games, it should be easy to learn to play any casino table game you can imagine.
Don't be shy about asking a dealer questions while you're playing. My partner and I visited a casino recently, and he sat down to play Mississippi Stud without ever having played before. We were the only 2 players at the table for most of the night, and the dealer had no problem explaining how to play the game.
We had a blast, and we didn't lose much money that night, either. We wound up with some good hands early, so we ratholed enough winnings that we were playing with house money for the rest of the night.
Which Table Games Should You Play?
ANY online table game is better than an online slot machine.
But some online table games are better than others.
Your temperament makes a difference, too.
The game with the best odds in almost any casino is blackjack, but to achieve that low house edge of between 0.5% and 1%, you must learn basic strategy. If you're not willing to learn it, you can also bring a basic strategy chart to the table with you and consult it on every hand.
Craps is another table game you should consider. It's fun and exciting, and the house edge is relatively low if you stick with the basic bets (pass, come, and odds).
The drawback with craps is that it can seem overwhelming if you're not familiar with the game. Luckily, it's easier to play than most people think. And once you get it, you've got it.
Roulette gets looked down on by a lot of 'serious' gamblers because the house edge is so high compared to other games.
Those snobs who ignore roulette aren't taking into account the relatively sedate nature of the game. Most roulette tables, especially the full ones, are moving so slowly that you're only placing 30 to 50 bets per hour.
This means that your losses are correspondingly lower, too, because you're just not putting that much money into action per hour.
The even-money bets on the roulette table are ideal for betting systems like the Martingale, of which I'm a fan. That puts me in the minority, but I love the Martingale system.
The trick with the Martingale is to accept that it won't work in the long run.
You just have to accept that you're going to walk away a big loser some of the time, too.
And when you average those big losing sessions with the smaller winning sessions, you'll still be a net loser.
The new breed of poker-based table games are all fun in their way, too, and many of them include a strategic element. My partner loves Mississippi Stud, for example, but I'm a bigger fan of Let It Ride. I think most players probably prefer Mississippi Stud.
The bottom line is that you should be willing to learn and try any table game in the casino until you find one that you love.
Conclusion
Now that you've explored the differences between table games and gambling machines, are you willing to switch from one to the other?
Or were you already playing table games some (or all) the time already?
Let me know if your gambling habits will change based on this information in the comments.
A card shark in a thousand-dollar Armani suit swaggers intoa Vegas casino and lays a huge bet on the outcome of a single spin of aroulette wheel. Miles away, a Wall Street trader in a thousand-dollar Hugo Bosssuit struts onto the trading floor and buys up 20,000 shares in a tech startup.Since neither cowboy can see the future, how is the trader's speculationdifferent from casino gambling? Is there even a difference?
Slots Vs Roulette Games
The Gambler
A seasoned gambler would argue that his betting decisionsare based entirely on what he calls a 'System.' The System has never failedhim, and he swears by it. He wins more than he loses, and this is the proofthat The System works. The gambler is quick to argue that he has spent a lot oftime looking at the angles, the odds, and the possible outcomes of each bet.But regardless of how much time the gambler has spent learning the games andperfecting his system, to gamble is to risk money in a situation where the oddsare deliberately stacked against a win for the gambler.
A gambler relies on luck more than skill, though he would rather not admit it. The simple facts are in the statistics. Hitting a single number on a roulette wheel holds 37:1 odds against the gambler. There is a 50% chance of winning a roulette bet placed on red or black. But the payout for winning the latter bet is lower, so a gambler who is ‘feeling lucky' will wager a large amount on the single number in hopes of winning 35x his money (or whatever a particular casino pays out for a win). There are loads of theories about luck, lucky stars, and what makes a player feel lucky. But luck is not a science, nor can it be proven with statistics or mathematical probability.
Gambling is creating risk for the ‘thrill' of beating theodds. A gambler isn't only in it to win it. Studies show that long termgamblers experience a rush even when they lose. While it may be a negativefeeling, the buzz is still there, the hook that keeps the gambler coming backfor one more bet. A gambling addict isn't addicted to winning. He is addictedto the thrill involved with the act of gambling. But money is still at theheart of the thrill. Try betting with candy instead of money; that's a game forchildren. The greater the risk, the higher amount of the money bet, the greaterthe reward when it pays off. The down side: failure is all the more devastatingwhen you lose it all.
The Speculator
A speculator conducts research and calculates risk beforemaking a financial transaction. Like the gambler, there is an inherent riskinvolved in every speculation. The more money the speculator invests in aparticular trade (stocks, commodities, or futures), the more money he makeswhen his speculation pays off. The speculator is fully educated with knowledgeof the financial sector and its ups and downs, trends, and bubbles. Knowingexactly when and where to invest is more of a science than a gamble, eventhough markets are not always certain. Just look at the American GreatDepression of the 1920s or the more recent globalfinancial crisis of 2007-2008.
A speculator is a trader for whom making financialinvestments is a job. A speculator can also make personal speculations andtrades for his own stock portfolio on his own time, but a licensed trader actson behalf of a company (often a brokerage firm). So in essence, trades made onbehalf of the firm use other people's money. A gambler would probably not havethe same thrill if he were gambling with other people's money. In the end, whatdifferentiates a speculator from a gambler is the skill set. Traders have spenta lot of time learning a particular set of skills necessary for them to succeedat their job – or they wouldn't have one. So while a gambler swears by a particularsystem, the gambler is really just playing with luck. But sometimes he is just verylucky.
Gambling Systems Explained
Certain systems are available to help gamblers win at thegame. While the odds always favor the casino, a certain amount of knowledgewill help the gambler develop the skill needed to make smarter gamblingchoices. Simply stated, these skills make the gambler a better bettor. Usingroulette as an example, several roulette systems utilize various strategiesdesigned to improve the odds of winning. Some of these systems are based onstudying mathematical probability. While others rely merely on repetition.
The martingale strategyis a popular roulette strategy based on repetition. The strategy is based onthe idea of doubling down on 50/50 bets (red/black, even/odds). For each losingbet, you double the bet. Even if you lose several bets in a row, the series ofre-doubled bets will become high enough to pay back your original losses. Thisstrategy only works if the gambler has very deep pockets, as true probabilitysuggests that you could just as easily get 30 reds in a row as 30 blacks. Ultimately,this strategy relies on the luck of the spin and the size of the gambler'spockets.
There are many such systems in play, and each one is just aslikely to make you stinking rich or filthy poor. Strategies like the Fibonaccistrategy (based on the Fibonacci sequence of numbers) is just as much a fantasyas it is a reality. The numbers are real enough, but the sequence goes from 1to 144 awfully fast, so betting in the amounts listed in the sequence resultsin some very high bets in a very short time.
Electronic Roulette Slot
Most ‘strategies' like the above probably worked for morethan five minutes, so the ‘strategist' put them down on paper. Unfortunately,results which are truly random (as with games of chance) rarely live up toexpectations.
A Speculator's System
There are some maverick traders who have applied themartingale system to trading. Unless that maverick has some very deeppockets—and can buck any trend—the trader is doomed to fail. When a series ofinvestors makes the same illogical investments over and over for long periods,this can affect the value of markets and commodities in the long run, andeventually destroy the system.
A speculator often deals with future trading and foreignexchange trading. He speculates on the shifting price trends and investsaccordingly. But the difference between trade speculation and gambling is vast.Speculators crunch a lot of data involving each trade. They examine charts,graphs, and financial forecasts to form an opinion on the viability of aninvestment. In the case of futures trading, the speculator enters a pricecontract for a specific commodity. The profit or loss of that commodity for thespeculator is determined by the price forecast, the length of the contract, andother factors.
In the end, speculation is a form of gambling, as nobody cansee the future. Companies open and close, commodities see shortages andsurpluses, and all markets are affected by the activity of the whole group ofinvestors. But unlike the casino gambler, a speculator follows legalregulations for trading and (usually) works within the system. Gamblers followhunches, systems, or ‘gut feelings' most of the time. And feelings aren'tfacts.
