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The casino ruin theory

[Category : - Toys and games]
[Viewed 827 times]

Have you heard of casino ruin theory? It’s also known as the Gambler’s Ruin theory and it’s an advanced gambling strategy which is essential for any serious gamblers who want to maximize their win-rate whilst also keeping the risk to an absolute minimum. An expert on this theory has happily spilt the tea on this topic to help other players so they don’t completely run down their bankroll on a losing streak. So, let’s get to it and visit Link!
No matter which casino game players choose to play, from slots, Blackjack, poker or roulette, a losing streak at some point or other is inevitable. Many players when experiencing a long losing streak are tempted to increase their bets and this can lead to your bankroll being depleted even quicker.
Gambling always involves risk and therefore players need to take calculated risks to stop them going bust and one of these steps is ensure you have an adequate bankroll to get you through the losing streaks that are inevitable in games like Blackjack, for example. Think of it as a simple coin flip, if you received £2 every time the coin landed on “heads” and you had to pay out £1 for every time the coin landed on “tails”, in the long run, you would have a positive outcome if you have enough money to bet. However, if you only have £5 to start with, you only need to run into one losing streak and that’s your bankroll of £5 wiped out.
Of course, this all depends on if you are in the financial position to not be too conservative when it comes to your bankroll and if you have a smaller bankroll it may be difficult to gain an advantage over the long term. It also takes a great deal of mental strength to continue to bet whilst you’re on a losing streak until a positive result is finally realised - so it certainly isn’t suitable for everyone. It’s important to always stick to the budget you have set yourself for your bankroll and not to gamble more than you can afford to lose.
This concept also applies to other casino games, including Blackjack where a common way to work out what a player’s or casino’s “risk of ruin” is to take the number of large bets players have as well as the percentage advantage the player is playing too during those big bets. This can get a little complicated for those who are not naturally mathematically minded, but there are lots of tables available online which show players the change of ruin percentage.
Gambler’s/Casino’s Ruin Theory is all about risk and returns and finding a balance between increasing your chances of winning and being careful with your bankroll. Each and every player will experience a losing streak and it’s at that point where it is very challenging mentally to stick to your strategy and instead over-bet in order to try and recuperate the money you have lost. However, when trying out any betting strategy it’s important to see it through and have patience within your bankroll budget.

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