Which Form of Casino Gambling Will Lose You the Least?

Which Form of Casino Gambling Will Lose You the Least?


If you are as good as the average bettor in all games, $100 slot machines. This assumes that you have enough money to play through losing streaks. If you have $100, and your first pull on a $100 slot machine does not win, you lost 100% of your stake. If you have $100, and your first pull on a nickel slot machine does not win, you have 1999 more consecutive losing pulls before your money runs out. If you do not get something back in 2000 pulls, talk to a supervisor. That slot machine is broken!

The odds for a nickel slot machine are not as bad as 1 in 2000. But the odds are worse for a nickel slot machine than for a $100 slot machine. Say you use the tactic of setting aside any money that you win from the slot machine. You then play all of your original stake through the slot machine, How much of your stake would you lose? You would lose about twice the PERCENTAGE of your stake on a nickel slot machine as on a $100 slot machine. The casino would rather have a smaller percentage of a bigger stake than a bigger percentage of a smaller stake. And they structure the odds to encourage higher stakes gambling. The lower the wager, the worse the payout. But even on an average nickel slot machine, you will lose less than 10% of your stake.

For an average payout almost as good as a $100 slot machine, you could bet on baseball. (Like Pete Rose did!) Even by the standards a statistician would use, sports betting is a form of gambling where a gambler MAY have skill that makes his average payout higher than the payout averaged over all gamblers in his type of gambling. (By the standards a gambler would use, ANY betting is a form of gambling where that gambler DOES have skill that makes him above average) If you are an average baseball gambler, betting on baseball will lose you the smallest percentage of money.

All of the sports bets have high average payouts. Football is the worst. But even football has a payout higher than a $5 slot machine, And in determining YOUR average payout in sports betting, skill can play a bigger role than the average payout across all gamblers in your game. If you are good at betting on football and bad at betting on baseball, do not bet on baseball to get the slightly higher average payout across all gamblers in baseball.

These figures are for AVERAGE payouts. Your casino may vary.

The top graph in this picture shows what I wrote, plus more

Markdown
[quote][url=https://is.gd/W1bfXZ]Payouts by Game[/url]
[/quote]Note that a House Winning Percentage of zero means that the average bettor would break even. This does not happen for any casino game. On average, the house always wins.

Plain Text

    https://is.gd/W1bfXZ

    Note that a House Winning Percentage of zero means that the average
    bettor would break even. This does not happen for any casino game.
    On average, the house always wins.