ShareThe first ever casino saw the light of day in the 17th century. However, people have been gambling for far longer than that. Indeed, as long as people have been around, so has gambling. And throughout the centuries, one question has remained at the very core of the gambling world; does it take luck or skill to win at a casino?
The truth is, the question is a lot more complicated than one might assume. It is simple to give quick and easy answers, such as “it is all based on luck.” But, the truth is much more complex. That is why, in this article, we’d like to discuss luck, strategy, and management, all for the purpose of answering the question; What really matters when gambling?
“Luck is Most Important”
The casino industry is famously all about luck. The games that we all know and are familiar with are often called “games of chance,” and many gamblers make a reference to Lady Luck before they enter a casino. Songs have been sung about luck being a gambler’s best friend. This sort of culture has certainly contributed to the view that luck is the most important aspect of gambling.
However, there is a problem with luck. Namely, it is difficult to stay in control if luck is all one relies on. What we call luck is really just randomness. At any point during a game of blackjack, you could draw the right card or the wrong one. If you draw the right card, you’ve won the game and a good chunk of change. The wrong card, however, can spell bad news.
That uncomfortable truth has spurred many people to attempt and find alternatives to luck. “Perhaps gambling games do involve a bit of strategy.” You might hear them say. “Skill may be just as important” some may muse. The truth of the matter is, however, that at the end of the day, if you don’t get lucky, you probably won’t be able to do much at a casino.
But, if luck can’t be controlled, then how do professional gamblers make a living? And what about those who are not pros, but have had quite a bit of experience in the gambling world, and know the steps they have to take to minimize losses and maximize wins? Well, we will address that in the next section.
Strategies to Control Luck
It wouldn’t be completely honest to say that all casino games are entirely luck-based. For example, poker is a game that mostly relies on the skills of individual players, much like chess. Sure, luck plays a role. But, a truly excellent poker player can win a game, even if they’ve been dealt the worst hand.
Blackjack players also require a degree of skill. The goal of blackjack is to hit a 21, or get as close to it without exceeding that score. To do that, players need to know which cards pair best, when to hold out, and when to hit. Just by thinking about these things, we are already engaging in strategy.
However, it is true that most casino games are not strategy-based. Slots, roulette, craps, and baccarat, for example, are all entirely luck-based, and there is not a single thing you can do to improve your chances of winning. It really is just a matter of luck. However, there are strategies you can employ, that will result in reduced losses when you are out of luck.
Betting Strategies Are Helpful
Because games like slots or roulette are solely luck-based, a lot of gamblers have come up with creative ideas to incorporate strategy outside of gameplay. These strategies often involve placing the right bet at the right time, in order to minimize losses and maximize potential wins. Because these strategies are formulated in relation to betting, they are called betting strategies.
Among the numerous betting strategies that have popped up over the centuries, two really stand out most of all, them being the Martingale and the Fibonacci. In this section, we are going to explore the Martingale and Fibonacci strategies, and explain how they work.
• Martingale
The Martingale strategy is very simple. It is a progressive betting strategy, that requires players to double their wager each time that they don’t win. The idea is that, if an eventual win does occur, the player can earn back the cash they’ve lost, and also have some extra to spare. A Martingale betting sequence should look something like this: $2 - $4 - $8 - $16 - $32 …
• Fibonacci
The Fibonacci strategy is named and inspired by the math sequence of the same name. It is another progressive betting strategy, with each of the player’s subsequent wagers being the sum total of the two that came before. For example: $5 - $5 - $10 - $15 - $25. The idea is the same as the Martingale system, and it has proven quite effective.
Effectiveness Online
We’ve discussed the importance of luck and the use of strategy. But, with the rise of online casinos, many may wonder if these truths remain true online. After all, iGaming is quite different from land-based gambling in many ways.
For one, there are numerous payment options. Credit and debit cards are a choice, but you can also gamble using crypto and digital wallets, for example. These differences may get people to think about luck vs. strategy in different terms.
Well, we are here to tell you that, when it comes to luck vs. strategy, there is not much of a difference between land-based and online gambling. Betting strategies are still just as effective online as they are in the brick-and-mortar establishments. However, we would be remised if we didn’t bring up the obvious.
Betting Strategies Don’t Help You Win!
If you are going to take anything out of this article, it should be this; betting strategies are not designed to help you win. They don’t change the odds, they don’t improve chances, and they don’t give you an advantage. The purpose of a betting strategy is to minimize losses or maximize potential wins, with “potential” being the key-word here.
