Most forms of gambling are games of chance – which lend themselves towards the house having an absolute or statistical advantage at the end of the day. This concept is known as the house’s edge. However, many gamblers or bettors have developed what they call: ‘betting systems or strategies” which aim to reduce or eliminate the house’s edge and improve their chances of winning. Do such systems or strategies work? Will they help you to win? What are some examples of betting systems? This article will address all three of these questions. Firstly we will look at a proper definition of the gambling and betting term – betting systems (or strategies).
The Term Betting System[s] Defined:
In brief, there are different betting systems or betting strategies employed in gambling applications aimed at getting rid of the house’s edge or advantage over the gambler or bettor allowing them to win and make a profit.
Before we look at different betting systems and discuss whether betting systems work or not, let us first define the term: “Betting System.” A betting system (also known as a betting strategy), according to Wikipedia, can be defined as: “is a structured approach to gambling in the attempt to produce a profit. To be successful – the system must change the house edge into a player advantage.”
Two such examples of a betting strategy are:
- Card Games Such As Blackjack – counting cards
- Roulette – Martingale.
Both are strategies that are employed to try to eliminate the house’s edge. Let us now discuss card counting as a Blackjack betting strategy and Martingale as a Roulette strategy to win. Also, then we will look at sports betting strategies.
Blackjack Betting Strategy: Counting Cards
While many articles and movies have approached the concept of counting cards which apparently can give a gambler or player an advantage over the house – therefore eliminating the house’s edge – none of these methods are as famous as the: “Hi-Lo” method. Here cards are assigned a value – then each hand is given a true value which will tell when the pot is ‘hot’, and how to bet. Usually, the house’s edge with Blackjack is around 1%-2% of overall winnings when hitting soft on 17. However, if a Blackjack player, according to Wikipedia, employs: “A perfect betting strategy” they can reduce the house’s edge and, arguably, gain a 1% advantage over the house. For this reason, this betting strategy is popular among some blackjack players. For more information on ‘card counting’ be sure to read – Is Blackjack Card Counting Illegal? The legality Behind Card Counting and How It Works.
A Common Roulette Strategy To Win – Martingale
As mentioned earlier – most, if not all betting or gambling require some form of chance. However, some games are closer to being complete games of chance – such as slots or playing slot machines and the game of Roulette. This later being one of the most (if not the most) popular games that attract many people to its table – or wheel. A common Roulette betting strategy is Martingale which is defined by Wikipedia as:
” [A] Class of betting strategies that originated from and were popular in 18th-century France… The strategy had the gambler double the bet after every loss so that the first win would recover all previous losses plus win a profit equal to the original stake. Since a gambler will [basically, with infinite chances] always end up winning, the martingale betting strategy is certain to make money for the gambler provided they have infinite wealth and there is no limit on money earned in a single bet.”
Martingale is one of the most common, simple, and controversial betting strategies in terms of Roulette. The only problem with the theory or betting strategy is that no gambler has unlimited resources – and a round of bad luck when using the Martingale strategy can result in huge losses for the player. Besides this Roulette strategy to win that some players employ is, conversely, the anti-martingale betting system where players reduce their bets after losses and increase them after each win. Again, both of these are just strategies. None will eliminate in reality, the element of chance or luck – and in its finite application, the house will always have the advantage, according to Wikipedia, in games closer to being games of absolute chance.
Sports Betting Strategies
Briefly, when it comes to sports betting strategies to win – some sports bettors use a handicap system to determine the exact probable chance of the outcome of sporting events to beat various sportsbooks’ odds. Basically, according to Wikipedia, a definition of this sports betting system (handicapping) is: “[handicapping] is a formula for maximizing profits and minimizing losses based on payout odds and win probability of the underlying.”
Do Betting Systems Or Strategies Work? Should I Use A Betting Strategy?
The answer to these two questions depends on who you ask. According to Gambling Sites, many experts will argue no. This is because there is no realistic way to eliminate the element of chance. In essence – the house will always have the edge in the long run. Some people, however, argue the opposite – especially in card-counting when it comes to Blackjack. Should you use them? Some experts will say no, because of the points given above. However, others will argue that if employed correctly, betting systems or betting strategies can ‘help’ reduce the house’s edge – if not eliminate it.