Casino Gambling For Dummies

Maximize your odds on the casino floor

Casinos are designed for distraction, so it helps to know a bit about when the odds are in your favor and when they’re not before you push a stack of chips onto a table. Professional blackjack player Kevin Blackwood and lifelong sports bettor Swain Scheps know a thing or two about casino gambling. In Casino Gambling For Dummies, these seasoned gaming veterans guide you through the essential strategies for walking out of the casino ahead of the game. They also show you the most common mistakes made by players, helping you avoid gambling risks while you enjoy what the gaming industry has to offer.

Learn to see past the flashing lights, decide how much you’re willing to wager, and find out how to enjoy yourself. In this book, you’ll also discover:

• Step-by-step walkthroughs of casino etiquette and the rules of common casino games, including poker and blackjack
• Explanations of video poker and slots and ways to avoid losing more than you’re comfortable with
• Explorations of online gambling, so you can enjoy the fun of a casino from the comfort of your home

The perfect guide for anyone looking for an easy introduction to the world of casino gaming, Casino Gambling For Dummies is also an essential resource for those seeking to improve their odds at blackjack, craps, video poker, slots, and other games.

Kevin Blackwood is a highly successful blackjack and poker player. He has written for several gaming magazines and is the author of four gambling books.

Swain Scheps is a games enthusiast, numbers guru, sports betting expert and the author of Business Intelligence For Dummies and Sports Betting For Dummies.

Introduction 1

Casinos and Gamblers 2

About This Book 3

What You’re Not to Read 4

Foolish Assumptions 4

Icons Used in This Book 5

Beyond the Book 5

Where to Go from Here 5

Part 1: Casino Gambling Basics: Everything You Need to Know to Start 7

Chapter 1: Casino Gambling 101: The Inside Scoop 9

Entering the Casino: What You’re Up Against 10

Marketing their way to your wallet 10

Accepting the odds: The house rules 10

Protecting your money with a plan 11

Identifying the colors of the rainbow 12

Playing the Games: What’s Your Poison? 12

Touring the table games 13

Turning to digital and automated games 15

Betting on ball games and fast horses 16

Gambling Near and Far: Where to Find Casinos 18

Nevada: Viva the gambling state! 18

Atlantic City: Vegas of the east 19

Connecticut: Betting with the Yankees 19

Diving into on-the-water gambling 20

Tribal gaming: Cashing in on less bling 20

Beyond the borders: Gambling abroad 21

Betting on the Internet 21

Measuring Your Gambling IQ 22

Chapter 2: Taking a Quick Stroll Through the Casino 27

(Casino) Knowledge Is Power 28

Navigating the Casino Maze 29

Getting in is the easy part 29

Slot machines: Place them, and they will come 30

Table games: Penetrating the inner circle 30

The bar: Quiet escape — or not? 31

Cashing out: Heading to the cashier’s cage 33

Meeting the Casino’s Cast of Characters 34

In the pits: Serving the table players 34

Slot employees: The reel dealers 36

Management: Running the tables 37

Maintaining a Safe and Secure Environment 38

Security personnel: The human touch 39

Surveillance: The watchers 39

Taking safety into your own hands 40

Chapter 3: Probability, Odds, and a Bit of Luck: What You Need to Succeed 41

Defining Luck: A Temporary Fluctuation 42

Understanding the Role of Probability 42

Identifying independent events 43

Recognizing dependent events 43

Factoring in the odds 44

Examining How Casinos Operate and Make Money: House Edge 45

Charging a fee 46

Paying less than the true odds 46

Calculating the Odds in Casino Games 47

Identifying payoff odds 47

Getting an edge on the house edge 48

Avoiding Myths, Magic, and Other Superstitions 49

Relying on Betting Systems 50

The Martingale system 50

The D’Alembert system 51

Chapter 4: Managing Your Money in a Casino 53

Setting a Budget and Sticking to It 54

Playing within your means 54

Determining your daily limits 55

Sizing up your bets 56

Keeping your bets consistent 56

Limiting your losses 57

Looking at Casino Credit and Its Risks 59

Grasping casino credit 59

Crediting yourself with an account 60

Using markers against casino credit 61

Knowing When Enough Is Enough 62

Knowing the odds of failure 63

Knowing thyself 63

Resisting the urge to chase losses 64

Sipping, not sinking 64

Recognizing a gambling addiction 65

Understanding Taxes and the Law 66

Deducting your losses and taxing your wins 66

Unreported winnings: Don’t fool the IRS 68

Counting comps for tax purposes 68

Lowering your gambling tax 69

Keeping a gambling log 69

Wagering with a group: Who pays the tax? 70

Part 2: Conquering the Table Games 71

Chapter 5: Minding Your Gambling Manners 73

Dressing (And Acting) the Part 74

Getting comfortable 74

Dressing up for evenings 75

Smoking permitted (sometimes) 75

Smoking other things 77

Drinking encouraged 78

Playing Well with Others: Minding Your Table Manners 79

Knowing your limits 80

Joining a game 80

Thou shall not touch and other table commandments 81

Giving Gratuities to Dealers and Others 82

Tipping your dealer 82

Tipping other casino employees 84

Avoiding the Appearance of Cheating 88

Doing the right thing 88

Playing fair and square 90

Chapter 6: Will Bluff for Food: Poker 95

Uncovering the ABCs of Casino Poker 96

Paying homage to hand hierarchy 97

Knowing the dealer 100

Following basic poker etiquette 101

Betting the Farm (Or Other Parcels of Real Estate) 102

Grasping the betting basics 103

Concluding the hand 104

Playing with (and without) betting limits 105

Bluffing: When deception pays 105

Betting it all 106

Playing the Popular Games 107

Holding your own at Texas Hold’em 108

Heading to Omaha 115

Avoiding Poker Pitfalls 117

Chapter 7: The Easiest Game to Beat: Blackjack 121

Dealing Out Blackjack Basics 121

Setting the scene 122

Valuing your cards 123

Preparing to Play 124

Finding a table: Strategic seating 124

Purchasing chips 126

Homing in on house rules 127

Dealing what’s in the cards 128

Betting Your Bottom Dollar 129

Playing Your Hand 130

Exercising your options 130

Going beyond Lady Luck 132

Strategizing in the computer age 136

Avoiding insurance 136

Betting on the side 138

Drawing the dealer’s curtain 139

Looking at payouts 140

Blackjack protocol: How to avoid trouble 141

Identifying Common Mistakes 141

Chapter 8: Rolling the Dice: Craps 143

Setting the Craps Stage 143

Casting the dice 144

Surveying the lay of the table 145

Getting to know the craps crew 147

Shooting for the whole table 148

Minding Mr Manners at a craps table 148

One Bet, Two Sets of Rules 150

One Throw, Four Possible Outcomes 150

Understanding the basic craps sequence 151

Buying in 151

Coming out: The first roll in the craps sequence 152

Making a point 153

Relying on Strategy to Place the Best Bets 154

The Pass-Line bet 154

The Come bet 155

The Don’t-Pass line bet 157

The Don’t-Come bet 158

The odds bet 159

Avoiding “Sucker” Bets 162

Resisting the lure of Big 6 and Big 8 163

Swearing off the worst place bets 163

Steering clear of buy bets 163

Laying off lay bets 164

Forswearing the field bet 164

Saying no to proposition bets 165

Finding out the hard way 166

The New Look of Casino Craps 167

Bubble craps 167

Hybrid craps 167

Chapter 9: Spinning Wheel Goes Round n’ Round: Roulette 169

Getting the Spin on Roulette Basics 170

Starting with the wheel 170

Taking in the table layout 172

Semi-automated roulette 174

Betting in technicolor 174

Chip denominations 175

Dealing with the croupier 176

Betting: the inside (and outside) scoop 177

Roulette’s special table limits 177

Making inside bets: Long shots and big payouts 178

Making outside bets: Better odds but lower payouts 179

Reciting Roulette Etiquette 181

Improving Your Odds 182

Starting with the basics 182

Playing a European wheel 183

Avoiding Strategies That Don’t Work 184

Basing your plays on history 185

Blaming wheel bias 185

Buying into betting systems 186

Chapter 10: Baccarat: Not Just For High-Rollers 189

Counting Down the Baccarat Basics 190

Baccarat Math 191

The Baccarat Zoo 192

Stepping Into Baccarat 194

Positioning yourself to play 194

Betting the banker (or the player) 195

What’s the Deal? 195

Drawing for another card 196

Following the player’s rules 196

Adhering to the banker’s rules 197

Knowing when the banker follows the banker’s rules 198

Avoiding Baccarat Time Wasters 199

Dealing with ties 199

It’s not the history; it’s a mystery, and here’s how it goes 200

Counting cards 200

Relying on instinct 200

The Full Baccarat Experience 201

Playing in a room apart 201

Setting a table for 14 201

Dressing to the nines 202

Dealing and calling 202

Banking on the house 202

Dealing the hand 203

Part 3: Beyond the Tables: Slots, Video Poker, Sports Betting, and More 205

Chapter 11: Tackling the “Riskier” Table Games 207

Picking Up on Pai Gow Poker 208

Playing the game: An overview 208

Calculating your odds 210

Implementing some strategy 211

Tripling Your Fun with Three-Card Poker 211

Playing the game: An overview 211

Reckoning your odds 214

Betting in Circles with Let It Ride 214

Playing the game: An overview 215

Understanding the payout 217

Implementing some simplified strategy 217

Avoiding a side bet 218

Dabbling with the Riskiest Table Games 219

Chapter 12: Mastering the Slots 223

Understanding How to Play the Slots 224

Playing the game: Easy as pushing a button 225

Dissecting the innards: How slots work 226

Getting wise to virtual reel-ality 227

Paying and winning with tickets 227

Identifying Different Slot Games 229

Increasing wagers with multipliers 229

Zigzagging for multiple paylines 229

Tuning in to theme machines 231

Working the progressive slots 231

Engaging in skill-based slots 231

Getting a Handle on Slots Odds 233

Stretching Your Money at the Slots 234

Reading the paytable 234

Choosing your game 235

Choosing the denomination you bet 235

Hitting an empty casino 236

Playing full credits on progressive games 237

Maximizing your fun 238

Honing Your Slot Etiquette 239

Saving a machine 239

Playing two machines at once: Double trouble 239

Minding your manners 240

Playing for Comps 240

Taking advantage of the comps 241

Signing up for the players’ club 242

Cashing in on cash rebates 242

Chapter 13: Scoring Big in Video Poker 243

Poker? Slots? Arcade Games? Characterizing Video Poker 244

Looking at video poker machines 244

Distinguishing between video and traditional poker 245

Understanding the allure 246

Playing the Game 247

Making your bet 247

Stretching your bankroll 247

Making your best hand in one draw 248

Collecting your winnings 248

Putting Your Money on the Best Machines 249

Holding out for the highest payout 249

Comparing short-pay and full-pay machines 250

Advancing to progressive machines 251

Playing Jacks or Better: The Best Bet for Beginners 251

Adding strategy to the equation 253

Sticking to the system no matter what 257

Investigating Other Video Poker Games 258

Walking on the wild side 258

Multitasking with multi-game play 259

Exploring other video poker games 260

Chapter 14: Striking the Mother Lode: Keno and Bingo 261

Catching On to Keno Basics 262

Filling out your ticket: X marks the spot 264

Winning and collecting 267

Exploring keno variations 269

Improving Your Odds at Keno 270

Figuring Out the ABCs of B-I-N-G-O 271

Setting the scene: The cast, crew, and props 272

Playing B-I-N-G-O down the line 273

Spicing up cover patterns 274

Uncovering bigger prizes with coverall 275

Calling Forth Winning Bingo Strategies 276

Seeking the ideal bingo venue 276

Winning at bingo: Odds aren’t all that bad (sometimes) 276

Chapter 15: From the Cubs to the Bears: Sports Betting 279

Legal Sports Betting: Coming Soon to a State Near You 280

Betting on a wide world of sports 280

Making money for the house 281

The sports betting market metaphor 281

Let’s talk vigorish 282

Leveling the Betting Field with Lines and Point Spreads 283

Setting the moneyline 284

Moneyline and implied probability 284

Defining point spread 285

Push ’em, hook ’em, and pick ’em 286

Being a total winner 287

Locking in the line 288

Early lines 288

Line lead times 289

Line movement 290

Derivative bets 291

Eyeing the exotics bets 291

Placing Your Bet in a Sports Book 295

Reading the board 296

Redeeming your winnings 298

Rounding Up Sports Betting Differences 299

Tackling football wagers 299

Slam-dunking basketball bets 300

Taking a swing at baseball betting 300

Lining up hockey wagers 301

Prop and multi-outcome bets 301

Relying on Strategic Handicapping 302

Handicapper Taxonomy 304

Part 4: Taking Casino Gambling to a Different Level 307

Chapter 16: More than Just the Derby: Betting on Horse Racing 309

Identifying Different Racing Formats 310

Betting in a Casino: Inside the Race Book 311

Understanding and Reading the Sheets 312

Placing Bets in the Race Book 314

Understanding the pari-mutuel system 314

Looking for pari-mutuel overlays 315

Sticking to straight bets 316

Experimenting with exotic bets 317

Placing your bet at the window 318

Winning strategies for your wagers 318

Picking Winners: Handicapping Basics 320

Digesting the race data: The Daily Racing Form 320

Assessing the speed factor 321

Contemplating pace 322

Showing a bit of class 323

Rounding into form 324

Considering other factors 325

Trip handicapping 326

Chapter 17: Gambling Online and in the Comfort of Home 327

Mapping the Legal Landscape 328

Playing at licensed online casinos 328

Going international with offshore casinos 329

Understanding How Online Casinos Work 329

Connecting to an online casino 330

Getting up to speed with practice games 330

Setting up an account 331

Paying to play 331

Accessing your winnings 333

Locating the Best (and Safest) Online Casino Games 334

Taking the first step: Online watchdogs 335

Checking out license origin 335

Choosing good online casinos 336

Selecting the best games for Internet play 337

Taking Advantage of Promos and Giveaways 338

Chapter 18: The Wild World of Tournaments 339

Learning Tournament Basics 340

Tournament Structure 340

Event Categories 341

Betting on the Most Lucrative Tournaments 342

Taking advantage of overlays 343

Finding a freeroll (Who says you can’t get a free lunch?) 343

Entering a Tournament (and Knowing What to Expect) 344

Playing with fixed chips 345

Seating yourself in the tournament section 346

Strategizing to Eliminate the Competition 346

Choosing a successful tournament strategy 346

Tabling a win with table game tournaments 347

Table game tournament quirks 348

Strategizing for table game tournaments 349

Soaring over the poker crowd 350

Maneuvering through slot and video poker tournaments 355

Picking winners in sports betting contests 355

Part 5: The Part of Tens 357

Chapter 19: Ten Cool Places to Gamble 359

Living Large in Las Vegas 360

Landing on Boardwalk: Atlantic City 361

Touring Tahoe and Reno 361

Cruising the High Seas 362

Exploring Native American Casinos 362

Collecting Chips in Connecticut 363

Striking Gold in California 364

Finding Hidden Treasures in the Caribbean 364

Joining the Jet Set 365

Rolling on the River (or Lake) 365

Chapter 20: Ten Ways to Score Comps 367

Ask and Ye Shall Receive 368

Learning Comp Math 368

Using a Players’ Card 369

Learning to Love Video Poker and Blackjack 369

Bet Low in Secret 370

Making the Bathroom Your Second Home 371

Looking Like You’re Losing 371

Greasing the Wheels 371

Never Looking a Gift Horse in the Mouth 372

Behaving with Courtesy and Respect 372

Appendix A: Important Resources 373

Index 379

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