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The Secrets of Win Goals and Loss Limits
2008-03-08 03:47:31
Pssst...! Wanna know a secret?
How about the secrets of win goals and loss limits?
Many crapshooters will just walk up to a table and just keep on playing until they lose all of their money. It doesn't matter if they get $100 ahead or even $500 ahead - they just keep on playing until they run out of cash.
Wanna know why craps pros always use win goals and loss limits?
Let's find out!
The reason why you need a win goal is because tables fluctuate. You can be $100 up one moment and $100 down the next, so you need an easy way to know when to stop and leave with a profit.
Your win goal should be based on your individual session money, and should be 30% of your buy in. For example if you buy in with $100 and are $30 ahead you should quit. Leave the table and go to your room, or have lunch. Be precise. Be disciplined. Follow your plan! Set a win goal and stick to it!
If you keep on playing until you lose all of your money you will do exactly that. When you play craps you need a definite, unchangeable win goal - something you can "shoot" for! You can't just play haphazardly and hope to win thousands from one $5 bet on a monster roll.
The opposite of a win goal is a loss limit, and it's also 30% - very easy to remember! So, if you buy in for $100, you need to leave when you win or lose $30. If you buy in for $500 you leave when you win or lose $150.
You need a loss limit because if you play thinking that you brought $100 so the most you can lose is $100, then you certainly will lose it all. A lot of people bring $500 to a casino expecting to lose. It doesn't bother them because it was "extra" money that they could afford to spend on entertainment. So they break it up into five sessions of $100 each and just keep on playing until it's all gone. Wouldn't it be better to come home with $350 ($500 - $150) rather than nothing?
One of the cardinal rules of craps is to increase your bets while winning but decrease them while losing. But when many people start losing, they keep on playing as if nothing was different, or worse, they keep increasing their bets. Don't do it! You need a loss limit, and you need to stick to it.
This article is one of the easiest to read, but the hardest one to use. It goes against the grain of every crapshooter, hoping for that huge roll where you can turn $5 into $50,000. But really, how often does that happen? I know, you know someone who knew someone who held the dice for ten hours and the casino almost went broke. Everyone knows someone who knows someone who did this. But we're talking your own money here, the same money you use for rent, food and your children's shoes.
It is not a disgrace to come home after a weekend and only win $150. Or even $50. You can always lie to your friends about it. But when it comes to your own hard-worked for cash, you've got to protect it.
Go into a session expecting to win $30 on a $100 buy in. Stop when you reach it. If you're losing, quit when you lose $30. In five $100 sessions the most you can lose is $150. The most you can win is $150. Stick to your guns. Set a win goal and a loss limit. Over the long run, you'll win more and lose less!
Pssst...! Now you know the secrets of win goals and loss limits!
(c) copyright 2005 by Larry Edell
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Larry Edell
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Typical House Edge
Roulette (EU) Single "0" Wheel
2.7%
Roulette (US) Double "0" "00" Wheel
5.2%
Blackjack
0.6%
Baccarat
1.23%
Craps
1.52%
Above is a rough guide only House edge can vary on different bets - and some systems will let you tip the Edge in your favour explore the site to find out more!!!
GLOSSARY OF TERMS
ANTE
-Forced bet placed by all players in poker before the cards are delt.
BANKROLL
-The total amount of gambling funds available to you.
CALL
- A Poker player matches the current bet on the table.
CHECK
-A player can check in order to stay in the game but not bet.
DOUBLE DOWN
-In blackjack, it is the players option to double their original bet in exchange for just one more card.
EVEN MONEY
- A bet that pays back the same amount wagered 1:1
FACE CARDS
-The jack, queen, and king cards - any suit.
HIT
-In blackjack, to take another card.
HOUSE EDGE
- The odds are slightly in the favour of the casino to ensure income for the casino.
KICKER
-An odd high card held that doesn't contribute to a straight or a flush.
MARKER
-An established line of credit between a player and casino.
PAY LINE
- The active line or lines on a slot.
POT
- The total amount bet during a poker hand the pot goes to the winner of the hand.
PROGRESSIVE
-A slot machine jackpot that get higher every game.
PUSH
-Drawn game / tied hand.
RAKE
- The amount of money casinos charge for each hand of poker.
SESSION
- Amount of time spent gambling at any game.
STEAL
-A win in poker won by bluffing.
TRIPS
- 3 cards of the same kind.
WILD CARD
-Card that can be used as another card to complete a hand - Normally a Joker.