Las Vegas Gambling Research Paper
Special Appendix
The Las Vegas Laws of Seven
I have seven rules that I adhere to when gambling in Las Vegas, or any other place for that matter. They have helped keep my losses low as well as not digging a hole for myself when I am having a run of bad luck. They also allow me to win large amounts of money when I'm lucky. I refer to these rules as laws, because I go to extremes not to violate them.
1. Cut your losses and let your profits ride
This is an old maxim for gamblers, and it can be applied to many areas of your life. But here in Las Vegas, it simply means never losing more than you planned. Therefore, you should always place a limit on your losses, not only for your trip to Las Vegas, but for any gambling session. Before walking up to any type of game, you need to first decide how much money you are willing to lose. Once this amount is reached, your gambling session is over with. Never dig into your pocket for more money.
On the other end of the spectrum are your winnings. There …show more content…
Examples include the pass line bet in craps and the game of mini-baccarat. Both games have an approximately casino advantage of one percent, but they are fast, so even with a low casino advantage, you can lose money quickly. A game like roulette or Let it Ride have higher casino advantages, but are a bit slower.
5. Know all of the rules of the game
There is nothing worse in a casino than to play a game and lose, but not knowing what happened. Know the rules of the game, so you know exactly what you are doing with your money. This is as important as setting loss limits for each gambling session. Losing isn't much fun, but you don't want to add confusion on top of it as well.
6. Never borrow money
There really is not much to explain about this law. Under no circumstances should you ever borrow money to gamble – end of
The Las Vegas Laws of Seven
I have seven rules that I adhere to when gambling in Las Vegas, or any other place for that matter. They have helped keep my losses low as well as not digging a hole for myself when I am having a run of bad luck. They also allow me to win large amounts of money when I'm lucky. I refer to these rules as laws, because I go to extremes not to violate them.
1. Cut your losses and let your profits ride
This is an old maxim for gamblers, and it can be applied to many areas of your life. But here in Las Vegas, it simply means never losing more than you planned. Therefore, you should always place a limit on your losses, not only for your trip to Las Vegas, but for any gambling session. Before walking up to any type of game, you need to first decide how much money you are willing to lose. Once this amount is reached, your gambling session is over with. Never dig into your pocket for more money.
On the other end of the spectrum are your winnings. There …show more content…
Examples include the pass line bet in craps and the game of mini-baccarat. Both games have an approximately casino advantage of one percent, but they are fast, so even with a low casino advantage, you can lose money quickly. A game like roulette or Let it Ride have higher casino advantages, but are a bit slower.
5. Know all of the rules of the game
There is nothing worse in a casino than to play a game and lose, but not knowing what happened. Know the rules of the game, so you know exactly what you are doing with your money. This is as important as setting loss limits for each gambling session. Losing isn't much fun, but you don't want to add confusion on top of it as well.
6. Never borrow money
There really is not much to explain about this law. Under no circumstances should you ever borrow money to gamble – end of