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Gaming Guru

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Rants and Raves

1 March 2001

One of the least understood aspects of casino or sports gambling is the recognition of winning and losing streaks. There are times in a casino when it seems that no matter what you are doing, it's all coming up roses. You are hitting 14 and pulling the 7 at the blackjack table. You go over to the craps table and point after point is being made. You get the idea.

You have to understand that this run of luck, or good fortune, or whatever you want to call it, will not last forever. The tricky thing is taking advantage of the situation BEFORE it ends. Lots of people are superstitious when it comes to gambling. They feel that if they are winning then they don't want to alter their play. Some feel that if they start to bet more then the Gods of Greed will step in and smack them down and take their chips. So instead of tempting the fates they continue to make the same basic wager during the entire winning streak.

There are other people that recognize the streak too late. Folks, please understand that streaks are like quicksilver, very difficult to pick up. There is one tried and true method to take full advantage of a winning streak in a casino or in a sports book. That is by betting a percentage of your bankroll.

The more you have, the more you bet. Let's say for example that you start out with $500. If you are winning and are wagering 5% of your bankroll that comes out to $25 a bet. Now let's say that you have built your money up to $1000, your 5% wagers would now be represented by a $50 bet.

In sports betting it's a lot easier to take advantage of these betting parameters. When you are playing craps or blackjack, the action is faster and you really have to be fully aware of the chips in front of you. Another way to ride a streak is to increase your wager after each successful hand or roll.

For $2 bettors: 2, 4, 6, 10, 15, 20.
For $5 bettors: 10, 15, 25, 35, 50.
Go back to your original bet after losing.

If you stay within these guidelines you should be able to take advantage of the elusive winning streaks as they happen. One word of caution: DO NOT bet more money when you are losing. Many people press up their wagers and bet more money in an attempt to win back the money that they have lost. This is a quick path to ruin. Stay within your game and let the wins and losses take care of each other. The main thing is to bet more when winning and less when losing.

This method will give you a better chance at the tables and enable you a lot more playing time.

The guy who invented gambling was bright, but the guy who invented the chip was a genius: Big Julie Weintraub

No victor believes in chance: Friedrich Nietzsche

In life we must make all due allowance for chance: Anatole France

As Always…Good Luck!

Larry Grossman

Larry Grossman is host and producer of Las Vegas' most popular gaming and handicapping radio show, "You Can Bet On It." Since 1989 he has interviewed World Champion poker players that include Amarillo Slim, Puggy Pearson, and Tom McEvoy. Regular guests during the football season include Lem Banker, Mike Lee, Mort Olshan, and Andy Iskoe.

During the 1997 and 1998 season, Grossman hosted a nationally televised show that featured many of the nations' top handicappers.

Larry Grossman is the author of two books, "You Can Bet On It" Volume 1 - Casino Games and Volume 2 - Sports Betting. He is a regular columnist for many gaming publications. Larry has hosted and produced handicapping seminars in Las Vegas. Visit AudioVegas.com to listen to archives of his "You Can Bet On it" radio show.

Larry Grossman Websites:

www.AudioVegas.com

Books by Larry Grossman:

You Can Bet On It! -- Volume 1: Casino Games
Larry Grossman
Larry Grossman is host and producer of Las Vegas' most popular gaming and handicapping radio show, "You Can Bet On It." Since 1989 he has interviewed World Champion poker players that include Amarillo Slim, Puggy Pearson, and Tom McEvoy. Regular guests during the football season include Lem Banker, Mike Lee, Mort Olshan, and Andy Iskoe.

During the 1997 and 1998 season, Grossman hosted a nationally televised show that featured many of the nations' top handicappers.

Larry Grossman is the author of two books, "You Can Bet On It" Volume 1 - Casino Games and Volume 2 - Sports Betting. He is a regular columnist for many gaming publications. Larry has hosted and produced handicapping seminars in Las Vegas. Visit AudioVegas.com to listen to archives of his "You Can Bet On it" radio show.

Larry Grossman Websites:

www.AudioVegas.com

Books by Larry Grossman:

You Can Bet On It! -- Volume 1: Casino Games