Blackjack, Ultimate Texas Hold’em and some types of video poker tend to be at the top – the basic knowledge of what players are betting on. Sad to say, we all watch table games, too, and video poker. One reader wrote to me this week and told me a story about how two women showed up in a poker room, claiming to know very little about poker, but having heard of a bad jackpot of nearly $ 100,000, so they decided to play for a bit with $ 100. not last long!
More than two decades ago, my father, Lenny Frome, created the concept of Expert Strategy. He likens it to a 3 legged stool where each leg is as important as the other two. These three legs are “knowing which game to play”, “knowing how to play it” and “knowing what to expect”.
All games in a casino are not created equal. Refunds vary by 20% or more. Play the game for 99% and you stand a fair chance of winning in the short term.
Depending on how the game is built, I tend to say that you have a 30% -45% chance of winning in a three hour session if the game has this running. Play one with 90% expectation and I’d be surprised if you win, over three hours, more than 15% of the time.
In the long run, you will lose 10 times more money (as a percent of the total stake) playing games with 90% vs playing one with 99%. Keno and Big Wheels are near the bottom of the economies of scale. Blackjack, Ultimate Texas Hold’em and some types of video poker tend to be at the top.
Many basic table games have 97% -98%, but their sidebets may only pay 90% -95%. Progressive Sidebets will pay even less, and a larger proportion of the payback goes to one player hitting the jackpot. Casinos usually don’t tell you imbalances in games.
The reason why warning what to expect is so important is because it always reminds us of the importance of sticking to the strategy we have created. Be very prayerful to start playing with gut feelings when credit cards do things they shouldn’t.