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The Experts Speak


IF YOU HAVE $1000
IS IT BEETER TO MAKE
100 TEN DOLLAR BETS OR
10 ONE HUNDRED DOLLAR BETS?

James Anglin Speaks

I do have one comment about your answer to question O-1, in your `Bet you can't answer these questions' page. You say that one should rather bet $1000 in ten hundred-dollar bets than a hundred ten-dollar bets, because the longer you play the more you lose. Actually, I don't believe it's that simple. Some games, like poker with an ante, may include a fixed cost per game, and it is true you would pay less ante if you played fewer hands. But in most games the house has a simple percentage advantage: on average, you lose a fixed percentage of whatever you bet, whether you bet it all at once or in nickels over a lifetime. It just isn't true that the longer you play, the more you lose. Here is the real answer:

The more you bet, the more you lose. On average, it doesn't matter whether you bet your money fast or slowly. But if you make a few big bets, you have a good chance for either a big win or a big loss; whereas if you make many small bets, your wins will tend to cancel out your losses somewhat, and you will actually end up with a net loss very close to the long-run average. So if you want to have a high chance of making a killing, and are willing to accept an even higher risk of losing your shirt, make a few big bets; but if you can't afford to lose that much, and you still enjoy gambling even when you know you will slowly but steadily lose money and never strike it rich, then you should make lots of small bets. (If neither of these cases fits you, nor anything on the spectrum in between them, stay out of casinos.)

Let's Have Your Viewpoint

Do you have some thoughts?

Please share your views with us. Here's the process:

Keep your comments to less than 100 words. We'll pick a few, excerpt some of the thoughts and post them here in a few weeks.

Send your comments to durham@GameRoomAntiques.com
Please label your comment "Gambling Comments"



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Ken Durham
GameRoomAntiques
3000 Galloway Ridge, C-306
Pittsboro NC 27312
For Orders Only: 202-213-1585
All others, please email: durham@GameRoomAntiques.com

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