Sunday, May 31, 2009

"The only thing your fancy charts and lists prove is that you have wasted your life on a mirage. And even if you don't like it, sims tell the truth."

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As Ronald Reagan (not one of my heroes, I admit) famously said to an opponent: "There you go again!"

The two most powerful pointers to a mythematical disinformation campaign orchestrated by the gambling industry are the claims that past outcomes hold no clues to the future, and that simulations accurately reflect real-play conditions.

Come on! Let's use a little common sense here!

The French have a saying that translates to "The more things change, the more they stay the same" and any experienced gambler can confirm that it applies to what happens inside a casino as much as to life in the real world.

There is nothing mathematically unique about random results in games of chance, and learning from experience is as valuable for a gambler as it is for anyone who prefers to keep his money safe.

Simulations, on the other hand, have very little to teach us, because they assume that all players are self-destructive idiots, and you and I know we are better than that.

The long-standing campaign to discourage meaningful research in the field of casino table games smacks of age-old heresy trials at which clerics warned that those who asked too many questions were headed straight to hell.

It really is ridiculous to pretend that the future will not repeat the past. The past IS the future, and if we fail to take the time to learn from it, we deserve to lose.

I should qualify my objection to "sims": those that recreate the random numbers critical to roulette and craps can be helpful; those that eliminate every element of blackjack and baccarat other than the percentage of the house advantage are deliberately deceptive (dissimulations would be a better word for them).

Target betting is at its core the application of good sense to the gambling experience, which for most of its participants is about as removed from reason and wise judgment as an activity can be.

For many, the primary appeal of placing a bet is that it is risky and unwise, and the longer the odds, the greater the thrill of winning.

It's about being naughty and knowing that you are probably going to be punished for it while hoping that maybe this time you will get away with it, and be rewarded for your sins.

No one who feels that way will have much use for target betting, and will side instead with the chorus of "experts" whose message is always the same: You can't win.

You can win. But not without working at it.

I am often criticized for devising a betting method that can only be profitable for players who already have a lot of money.

The truth is that sensible money management is better than the senseless alternative even for weekend punters on a shoestring budget, although generally the best they can hope for is that it will simply make their money last longer.

What the casinos depend on is that gambling is all about choices, and most players will make the wrong choice almost every time.

Target betting, like basic strategy play at blackjack, exists to eliminate choices and replace them with consistent smart moves.

Because gambling is what it is, the smart move is only the right move when you win. But it stands to good sense (common sense) that consistency and discipline are sure to bring better results in the long run than flying by the seat of your pants.

It always amazes me how few gamblers take the trouble to learn the numbers that apply to the games they play, and with a nod to their worst enemy, I hereby offer the following easy acronym: WYNN, short for Watch Your Negative Numbers.

A week or so ago, I was playing blackjack in my hometown casino with a kid whose wrong moves were so frequent that finally the dealer blurted out in a stage whisper, "Are you sure you want to do that?"

He wasn't sure, and from then on the dealer and I between us coached him so successfully that his diminishing pile of chips took a turn for the better, and within 15 minutes, he was back in the black.

Target betting depends on constant awareness not just of the depth of the hole you are in, but that to win, you must always recoup your losses in fewer bets than it took you to get into trouble.

There is nothing delusional about that, and it is not heresy either. You will in the end always lose more bets than you win, so the only way to get ahead of the game is to win more when you win than you lose when you lose.

That requires discipline, confidence, consistency and (sometimes) a lot of cash, and none of those attributes conflict with the laws of arithmetic.

Google "progressive betting" and you will find hundreds of thousands of entries, most of which argue that it is a suicidal method that cannot win.

The truth is that it is the only method (other than dumb luck, which is not a method at all) that can overcome the reality that losing bets will always outnumber winning ones in the end.

House-trained mythematicians warn of the very real danger that at some point, the next bet in a progression will exceed the table limit "and then you are sure to lose" or words to that effect.

Quelle crappe, comme dites les Francaises!

No one without adequate funding should ever consider progressive betting, and for a player with a healthy bankroll, a looming table limit is simply a signal to back out of the game and go find a layout in a higher rent neighborhood.

The simplest progression is the Martingale or double-up, and players who succeed with it never incur more than three successive losses at one layout before moving on.

That way, they stand a chance of flying under PR (pit radar) while repeatedly turning their losses around and fattening their bankrolls still further.

They tend whenever they can to bet blackjack and field bets at craps, where naturals and x2 or x3 payouts will occasionally make a long-awaited win very profitable indeed.

Those Google citations I mentioned will often argue that a player has to be crazy to start out with a $10 bet and potentially risk thousands to win "just ten bucks" when a win finally breaks a losing streak.

They are written by math-challenged people who fail to grasp that a winning bet worth thousands wins thousands, not "just ten bucks" and achieves what most gamblers can only dream of: recouping all prior losses in a single wager.

In fact, the house's passive "system" is more like a Martingale than anything else, permitting a few players to get thousands of dollars ahead while secure in the knowledge that soon enough, they will lose and all those borrowed chips will be back where they belong.

In theory, a house edge of 1.0% at blackjack means that the casino will see a profit of just $100 for every $10,000 "at risk" - a level of reward that a Martingale player would find less than satisfactory.

In fact, most blackjack players are as bad at the game as the young man I mentioned earlier, and the true house edge is closer to 12% or $1,200 for every $10,000 of action.

Target betting requires knowledge and intuition, hence WYNN: watch your negative numbers, and when the house gets too far ahead, get the hell outta there!

Using my method with all its switches at their maximum setting can be a risky proposition, one that should not be undertaken without a very substantial bankroll.

But forget everything but the LTD+ response to a mid-series win, and the method is routinely more effective than a Martingale without the screaming sirens and flashing red lights that double-up will set off in any pit if a player is dumb enough to get caught using it.

I will say again, I don't recommend a Martingale, not because it is too risky, but because I do not want to be chased away from the games I love to play and WIN AT.

All those target betting switches can provide a long-term boost to profits, but their primary function is as camouflage.

They can be turned on or off or dialed up or down at will, which is one of the many reasons why simulations that feature a suicidal maniac betting exactly the same way ad infinitum are just plain dishonest.

I recommend that the starting point for nervous newcomers to target betting should be LTD+1u for an EOS goal, plus a win progression of x1.5 and MSL set at a modest -100.

If you have forgotten the rules, that means that in response to a mid-recovery win, you would bet LTD+$10 at a $10 table, repeating the formula if the end of series wager goes south for a total of $100 or less. After an opening win of $10, NB would be $15, then $25, $40, $60 and so on, with the eventual streak-ending loss becoming the new LTD.

Those cliff-drop negative trends that runaway sims depend upon cannot apply to a target player because of the spread limits that the rules impose: not more than 1 to 20 after a $10 opener, then not more than 1 to 5 at any one location.

Spread is the most critical factor in any casino table game, which is why the house imposes table limits that are getting ever tighter as the years roll by.

A big bankroll alone will not guarantee an overall win when losing bets outnumber winning bets.

A wide spread (1 to 5,000 is optimum) will make you a winner every time.


An important reminder: The only person likely to make money out of this blog is you, Dear Reader. There's nothing to buy, ever, and your soul is safe (from me, at least). Test my ideas and use them or don't. It's up to you.
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