Guru Knowledge
Advantage Play
Every game in a casino is designed to earn profits for the House, not the player. But that certainly doesn’t mean it is impossible to win. In fact, players who are particularly observant and skillful in playing certain games can actually put themselves i…
Expected Value
Each session of play at a casino entails a certain amount of risk. In general, casino games are structured so that a low degree of risk usually results in small returns on investment or relatively harmless losses, while a greater level of risk may bring…
Return to Player
Casinos often use the phrase “Return to Player” (RTP) to describe a game’s theoretical payout percentage, such as how much of all wagered money that a video lottery terminal or slot game will pay back to players over time. RTP is typically expressed as a …
Risk of Ruin
Those who play casino games are risk takers by definition. They may vary in attitude from overly cautious to foolhardy in the extreme, but the only way to play is to wager, and every wager entails the possibility of loss. Each player must therefore identify…
Streakiness
By simple definition, a “streak” is a consecutive series of similar outcomes. It applies to everyday occurrences from a spell of rainy days or cold temperatures to scoring or failing to score in game after game in sports as well as unbroken periods of …
The Basics of Card Counting
Card games are not like other table games played in casinos. A European Roulette wheel can never “run out” of zeroes. Each spin is an independent event, and the odds of catching a zero are always 1 in 37 or 2.7%. Similarly, at the Craps table there’s no lim…
Variance
One of the most important aspects of managing a bankroll is planning for downswings and upswings in the course of casino play. Every session is different. There will be successes and failures. Sometimes play will be flat, with neither gains nor losses….
Volatility
In our everyday lives, the notion of “volatility” is associated with changeability and impermanence. Whether it is applied to people’s emotions, stock market performance, political situations or the weather, being “volatile” implies a certain ficklenes…
