There are plenty of online gambling tactics out there claiming to beat the casino odds and guarantee success. They might seem promising at first sight; however, the fact is you cannot overcome the house edge. The house always has the advantage even if you play at online gambling sites or at a live casino.
However, some of the tactics of the most popular betting strategies are mentioned below explained the flaws behind each one. It is essential for the player to note that people do win in casino games while implementing these strategies; however, their success is a result of luck and not the betting system.
- Gambler’s Fallacy: it is one of the most common theories in the gambling industry. However, many people believe that the occurrence of a failed event can trigger future failures too. For instance, the Gambler’s Fallacy predicts that there is an increased likelihood of the next flip landing tails if a coin is flipped repeatedly and lands on heads five times in a row. However, this theory is totally false, and there is no truth within it. This theory is applied to casino games like roulette and craps. Each roll of the dice is in craps, and every spin in roulette is an independent action; however, the outcome of one turn has no influence over the result of another. With the roulette wheel had 26 black spins in a row in 1913, The Gambler’s Fallacy got famous in the Monte Carlo Casino. As the first spin, the 27th spin had the same chance of landing red, while this was an incredibly rare occurrence.
- Martingale system: rather than a gambling theory, this strategy is a specific betting system. The Martingale tactic works by doubling each bet you place until you hit the win bar. This way, you are statistically bound to win, and by doing so, you can ask for all of your losses with a profit equal to your initial bet. For instance, you increase your bet to $10 if you start with an initial bet of $5 and lose. Followed by $40, your next bet would be $20. If it occurs at all, the only problem with the Martingale System is that a win might not originate for an extended period of time. Unless there is no table limit for a single bet and you have an unlimited bankroll, you stand for a devastating loss with the Martingale System.
- Fibonacci Betting: it is an almost 900 years old game following the same principle as the Martingale, but is a more gradual approach. Instead of doubling each sequential bet, this algorithm is used: Fibonacci Algorithm: 1-1-2-3-5-8-13-21-34, etc., losses are reclaimed two at a time using the Fibonacci betting strategy. The game ends when the players return the original bet after winning. Although the gradual approach helps limit the size of your losses, the Fibonacci is flawed for the same reasons as the Martingale.
