
Online
Gambling
Online gambling is a lot like gambling anywhere else:
the odds are for the house (that means they’re against you). Casinos
and other gaming sites are in business to make money, not to make you
rich. How much does the gaming house make off of you? That depends on
what you play and where you play it. The worst odds are in lotteries
– the saying that lotteries are a tax on people who can’t do math is
not far from the truth. The statistical edge against you in other bets
varies:
| Game |
How much the
house makes |
| Baccarat |
1 – 14% |
| Blackjack (normal) |
10 – 20% |
| Blackjack (perfect
strategy) |
1 – 2% |
| Blackjack (strict
card counting) |
0 – 2% |
| Craps (normal bets) |
1 – 17% |
| Craps (single odds) |
1% |
| Craps (double odds) |
1% |
| Craps (ten times
odds) |
0% |
| Keno |
30% |
| Roulette |
5% |
| Slot machines |
2 – 35% |
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| Sports betting |
How much the
house makes |
| Football and basketball
(single bets) |
10% |
| Football and basketball
(two-bet parlays) |
13% |
| Football and basketball
(three-bet parlays) |
31% |
| Horse racing |
19% |
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What do the percentages mean? You’ll lose, in the
long run, $19 for every $100 you bet on horse racing. Or $10 to $20
for every $100 you bet on blackjack. Yes, you’ll lose less if you play
certain systems perfectly – but who’s perfect? And even if you were,
you’d break even at best.
So the odds are against you from the start. Now let’s
add the lack of regulation on the Internet. Regular casinos are subject
to state laws and gaming commissions. Internet gambling is not. Internet
casinos are often set up in countries that have no gaming laws at all
– and you can probably guess that doesn’t mean they’re keeping lower
profits from the enterprise.
So, if you find a reputable site and you understand
that you will lose money, it’s okay then, right? Not always. The other
reason Internet gambling is more dangerous than live gambling has to
do with human nature.
Online gambling is always available. If you make a
conscious decision to go to a casino, and you take only the money you
can afford to lose, then quit when you’ve lost it, you can go home and
be done with it. If the gambling opportunity is right there on your
desk, and you’re gambling on your credit card, it’s harder to walk away.
Add to that the fact that you are gambling in an isolated, secret environment,
and gambling could become a real problem for you.
Almost everyone who has ever surfed the Net has "lost
time." It’s probably happened to you, too: you sit down for a few
minutes, start clicking, and suddenly hours have passed. This can happen
with online gambling, too: only, when you’re gambling, you can lose
a lot more than a few hours in the process.
Gambling is not a way to make money. Ever. Many people
enjoy gambling as a form of entertainment. If you are of legal gambling
age and understand that you are gambling for entertainment, not for
profit, the decision is yours. If you think you might have a gambling
problem, answer the questions below.
- Have you ever missed school or work because of
gambling?
- Have you ever felt remorse after gambling?
- Have you ever gambled to get money to pay debts
or solve money problems?
- Have you ever borrowed money to gamble?
- Have you ever sold anything to get the money to
gamble?
- Have you ever gambled longer than you planned to?
- Have you ever gambled to escape from your problems?
- Have you ever lied about how much you gamble?
If you answered yes to any of these questions
or have another reason to suspect you have a gambling problem,
contact an organization like 1-800-gambler www.800gambler.org
or Gamblers Anonymous www.gamblersanonymous.org
for help.
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