Using money in gambling: the usefulness and the experience

Last week, a gambler told us his idea of ​​betting money. The man had drawn up various precepts from his life experience. About using money in gambling and in other situations he used the rule: you bet money for experiences.

His explanation was that you quickly forgot the amount of money. But the experience stays with you. “Go for the short pain that spending money always gives,” he said. ‘That pain is soon exchanged for the joy of a beautiful or educational experience’.

Bet money

Is his train of thought correct, we wondered. In other words: is betting easier because of the experience you expect or get afterwards, does it only hurt in the short term, etc.

Bet for money in gambling we may have to make a division into types of gamblers. There are those who gamble for pleasure, see it as a time commitment. Others do it with the expectation of making money, increasing their stake. That group of gamblers will mainly look at the odds of winning, which is what mathematicians call the expected value.

Expected value

Over the expected value at the tables we wrote earlier in Online Casino Ground. Its history began with the Dutch inventor Christiaan Huygens. In 1657 he devised a method to calculate the probability of certain results from dice. In fact, that was the beginning of establishing the expected value, the probability of winning.

As we saw earlier, that probability differs per game and the margin for the bank or dealer plays an important role in this. However, thinking of the gambler with his rule, we are not necessarily talking about the mathematical probability of winning. It is about the experience of profit opportunity.

Subjective consequences

After all, every gambler can calculate the winning probability of the game he is playing. But after that, the individual gambler must determine whether or not to spend his money. He is going to put in money and have to weigh his risks. Those risks can go beyond the stake for the gambling game.

Groningen-born mathematician Daniel Bernoulli already understood this. He once said ‘it’s only fools who take risks on the basis of objective profit expectations, without taking the subjective consequences into account’. Instead of subjective consequences, you could also read: the need or desire of the individual person to win.

Usefulness

This individual wish is also referred to as utility. An example that 18th-century contemporaries used after Bernoulli’s statement resembles the television’s Million Hunt. Suppose you see two suitcases. The first case contains 5,000 euros and the second case contains 10,000 euros or nothing. In both cases the expected value is 5,000 euros; after all, the chance of winning is 50% with the second suitcase.

When several people are asked to choose a suitcase, most will pack the first. After all, that gives you at least 5,000 euros. With the second suitcase there is a chance that you will receive 10,000 euros, but you have the same chance of not receiving anything. Seen from the point of view of the usefulness, the subjective expectation, most people find that security of 5,000 euros more pleasant than the risk of an empty suitcase.

Relatively

Bernoulli and the many mathematicians who came after him found that when making rational decisions in uncertain circumstances, people prefer to avoid risk. But to what extent depends on the personal circumstance. Bernoulli said about this: “the usefulness of an increase in wealth is inversely proportional to the possession one already has.”

In other words, (Multi) millionaires and other wealthy people will experience less benefit from a small increase in their wealth than someone with much less wealth. You might wonder whether the rule (‘You bet money is made for experiences’) of the aforementioned gambler is related to his possession.

Assigning value

At OnlineCasinoGround we prefer to speak of a winning opportunity. After all, this can be determined exactly with almost all gambling games . With a coin the chance of winning on the head is 50%, with a die the chance of winning is 1/6 and with European roulette , the chance of winning is 48.6% when betting on red, due to the bank margin.

Value is a much more flexible concept and also less concrete. You can say something tangible about an amount of money (it is 10 euros), although the value of money is already relative. A ticket of 50 euros punctures one person’s monthly expenses. While another person laughs about it, calculates his probability of getting caught, reviews all previous speeding offenses where he was not caught, and throttle again.

Experiences

However, experiences are hardly concrete. We do not give an objectively measurable rating to a good meeting, an interesting course or a party afterwards. It is rare that we tell a friend or colleague ‘that party was worth an 8’. We say ‘that party was a waste of my time’ or ‘I learned a lot from that course’.

What about the aforementioned gambler and his rule of life? He will, sometimes consciously and sometimes unconsciously, determine values ​​when betting the money. So subjective expectations. In doing so, he may consider the amount in relation to his assets, fixed costs, liquidity and the like.

And give an expectation value to the experience on which he will spend the money. Finally, he will bet the money on the basis of the ratio between these two quantities: the amount to be bet and the subjective expected value of the experience.

Gambler

In fact, he is just a gambler, especially in situations outside the casino (after all, there you have a computable chance of winning). On the one hand, he has the amount to bet. On the other, the expected value of the experience. If that value is higher than the money to be bet, he will gain an advantage. But the experience can also be disappointing, less than expected.

With experience you can fill in anything in this case. It could be a course, a pop concert, a book, a trip, an encounter and much more. The disadvantage or advantage (it depends on how you look at it) of the subjective expectation value is that you can rethink it afterwards. There are always things to find with which you can convince yourself afterwards that an experience was (after all) valuable.

Subjective versus concrete

As a real gambler you don’t have that option. Of course after a game of (video) poker you can say that the atmosphere in the casino was so nice and that you got a free drink. Or that the new strategy you used with the online slot machine almost brought you a profit. But you also know that you threw in 100 euros and ended up losing 10 euros. Of course you quickly forget that lost amount, the aforementioned gambler is right. Because with roulette, poker or a slot machine, a new chance, a new experience awaits .

Six fundamental elements for the selection of cash game tables

At this moment Covid-19 unfortunately commands and despite the reopening of the casinos in Las Vegas , the time seems distant when the rooms of the various gambling halls will fill up again, especially in the Old Continent. Waiting for better moments, however, we can pass the wait by remembering some important aspects for the cash game in 55winbet.com/th/th-th/product/slot

Here is a sort of mini-guide to find the most favorable action for us, not only in the short term, but above all in the medium-long term. Let’s see what we must always evaluate, before sitting down.

Know yourself, before others

The first aspect to consider for a good selection of cash game tables is to really know how much we know about ourselves . However, we must be honest and not try to cheat with ourselves.

Not only that, but to these questions we must add others. Am I confident enough to play at a Pot Limit Omaha table ? Or is it better to limit yourself to classic No Limit Hold’em ?

This is really a crucial step. We cannot escape from ourselves. So we must always be honest and contain where our ego is needed . The more we are aware of what we are really worth, the less mistakes we will be inclined to make.

The comfort zone

In the selection of cash game tables, the comfort zone indicates a game where we are comfortable. The more we are, the more likely we are to make a high profit . If we are basically closed players and the rest of the company at the table is made up of maniacs it is evident that we will not be comfortable. Or if the game is made up of authentic sharks that prevent us from finding the key to the problem.

If we’re not comfortable, then there’s only one thing to do. Get up as soon as possible from the table and look for another one more suited to our qualities . Where we can play our best game, we have found our comfort zone. And we will be able to play the best possible game, showing ourselves that we are perfectly comfortable at that table.

Short stack tables are not ideal

When selecting cash game tables , we must always see the size of the players ‘ stacks . Obviously online สล็อตmafiaมาใหม่ is easier, as there is a real-time screen. Live it becomes difficult to accurately quantify the amount of each of the players, but broadly we can understand that if we are faced with a table of deep stack , or short stack .

The latter are the most dangerous ones. Because from a technical-tactical point of view they will have only one way to try to double up, while from the point of view of profit there will be less money on the table between rake and tips . So a cash game table made up mostly of short stacks is a table to avoid.

Time makes the difference

Those who have had the opportunity to play cash games in Las Vegas , for example, will have realized that there are more congenial times to do so, at least in terms of profit. The hours of the afternoon and early evening are the most difficult from this point of view. We will have to deal with well-rested and fresh players to face a long session.

Speech that changes as the night falls. Here clarity drops, fatigue takes over and errors can certainly be more numerous. Whoever sits down at that moment of rest can achieve important results . Consequently, the ideal time becomes a pivotal point in choosing the table.

Beware of the table where you laugh

A day without a smile is a day lost, Charlie Chaplin loved to repeat . And a laugh at the table always suits us. To ease the tension, to play down some outbursts and also to socialize. But remember that the table, where you mostly laugh, is the ideal one for making money . Most of the seated players are there to have fun, to spend a few hours different from usual.

This means that the profit is not on top of their goals , or at least it does not totally represent the real reason why they are at the table. Consequently, if we are players who instead aim to make a profit, the opportunity is a golden one to sit down. Even these details make a difference in the long run.

Never sedentary

If in case you no longer feel at ease at that table, you can always seize the ball and move on to something else. Obviously, respecting the advice we have just listed. The best player is the one who senses the danger in time , dodges it and starts from other perspectives.

The final phase of the MTT KO Progressive: the late stage strategy

These days we have given particular emphasis to the main strategies of the MTT Progressive KO . Bounty tournaments are now the daily bread of online poker schedules and in recent times many principles have been filed สล็อต ฟรี for this particular variant.

From a strategy standpoint, we have seen that MTT Progresssive KOs are something of a hybrid. They have some points in common with the classic tournaments, but with the addition of the sizes, the value of which weighs heavily on the choices to be made at the table.

The weight of the steps …

If the intermediate phase is the most delicate due to the presence of the bursting of the bubble and the related prize landing, the Late Stage requires us to make clear and well-considered choices.

Now we are at a premium and therefore we are fighting economically on two fronts. On the one hand, the progressive sizes of the rivals and our own size , while on the other hand we have the classic payout of poker tournaments. Each position gained brings us closer to a higher step.

Consequently, the choices we make from time to time affect above all in this perspective. Initially the monetary difference between one step and another in the prize pool will be minimal, but as the eliminations pass there will be more and more a gulf between the various positions.

For this reason, every decision we make will then have a specific weight also at the monetary level.

… And that of progressive sizes

Together with the payout objective, the value of the sizes must be taken into account . Ours, but above all that of rivals. The more thoughtful it will be, the more important it will be to choose the hand with which to try to loot. Obviously premium hands and play in position remain the basics, but as we said in MTT Progressive KO the range inevitably widens.

Consequently a short that has a thick bounty and action, we can also tackle it with a medium value hand, in the hope of making full loot. On the other hand, the situation is opposite, when it is us with a lower stack who face a deep . We need the right precautions and value betting in case we close an important point. Fewer mistakes are made at this stage and the more money we will collect as the tournament progresses.

We play for the top

Progressive KO tournaments, however, have one thing in common with classic late stage tournaments . That is to play for the top players and therefore always aim for victory. Sometimes we will succeed, other times not, but the strategy must always be the same: aiming for ultimate success .

In short, winning in tournaments with progressive Bounty has a double monetary value and for this reason every choice we make, even the smallest, moves and not a little at an economic level.

Exciting Features of English Variations of Sic Bo Game

แม้ว่าไฮโลจะเป็นเกมคาสิโนแบบลูกเต๋า แต่ก็มีความคล้ายคลึงกันอย่างหนึ่งกับเกมบิงโกและรูเล็ต ความคล้ายคลึงกันคือไฮโลเป็นเกมที่ใช้โชคซึ่งหมายความว่าการชนะของผู้เล่นในเกมนี้ขึ้นอยู่กับโชคของผู้เล่นเท่านั้นมากกว่ากลยุทธ์ความเชี่ยวชาญใด ๆ เกมไฮโลมีต้นกำเนิดจริงจากเอเชีย จากนั้นมันได้กลายเป็นหนึ่งในเกมการพนันยอดนิยมทั้งในคาสิโนออนไลน์และคาสิโนแนวนอน เกมไฮโลเป็นที่นิยมโดยเฉพาะในสหราชอาณาจักรสหรัฐอเมริกามาเก๊าและฟิลิปปินส์ นอกจากนี้เกมไฮโลยังเป็นที่รู้จักด้วยชื่อที่แตกต่างกันในประเทศต่างๆทั่วโลก ชื่อยอดนิยมของไฮโลบางชื่อคือ “ไทไซ” ซึ่งหมายถึงลูกเต๋านำโชค “ไดซิว” หมายถึงใหญ่เล็กและยังมีชื่อว่า “ไฮโล” นอกจากชื่อเรื่องที่แตกต่างกันแล้วในปัจจุบัน เกมไฮโลยังมีให้บริการในรูปแบบต่างๆที่คาสิโนทั่วโลก รูปแบบเหล่านี้มีต้นกำเนิดมาจากภาษาอังกฤษจริง ๆ และบทความนี้ได้พยายามให้คำอธิบายสั้น ๆ เกี่ยวกับรูปแบบต่างๆของไฮโล คาสิโนสด sbobet 

Grand Hazard Sic Bo Variation

  แกรนด์ฮาซาร์ดหนึ่งในเกมโบราณของอังกฤษยังเป็นเกมที่ใช้ลูกเต๋าเช่นเดียวกับเกมไฮโลในปัจจุบัน ลูกเต๋าของแกรนด์ฮาซาร์ดถูกม้วนอยู่ในรางที่ออกแบบมาโดยเฉพาะ รางนี้มีระนาบที่เอียงซึ่งลูกเต๋าจะถูกทอยอย่างต่อเนื่องตามที่พวกเขาจะเลื่อนลง จุดสนใจหลักของ Grand Hazard นั้นเหมือนกับเกมไฮโล เช่นเดียวกับไฮโลในแกรนด์ฮาซาร์ดผู้เล่นจะต้องคาดเดาหมายเลขซึ่งลูกเต๋าจะหยุดหมุน นอกจากนี้เช่นเดียวกับเกมไฮโล Grand Hazard ยังมีตัวเลือกการเดิมพันหลายรูปแบบให้กับผู้เล่น

Sic Bo | Board Game | BoardGameGeek

โยนโชครูปแบบไฮโล

  “ Chuck-a-Luck” เรียกอีกอย่างว่ากรงนก เกมนี้เป็นเกมแนวแกรนด์ฮาซาร์ด อย่างไรก็ตามเกมจริงได้รับการพัฒนาในสหรัฐอเมริกา (USA) รูปแบบของเกมไฮโลโชคดีที่ยังใช้ลูกเต๋าสามลูกที่เก็บไว้ในกรงลวดเพื่อให้ดูเหมือนเป็นกรงนก ดังนั้นเกมของ Chuck-a-Luck จึงมีชื่อว่ากรงนก เจ้ามือจะหมุนกรงจากนั้นลูกเต๋าทั้งสามลูกจะได้รับอนุญาตให้ปักหลักที่ด้านล่างของกรง จุดสำคัญของเกม Birdcage คือการวางเดิมพันบนตัวเลขซึ่งการทอยลูกเต๋าจะหยุดลง ที่นี่ผู้เล่นจะได้รับการเดิมพันประเภทต่างๆตราบใดที่พวกเขาจะเดิมพันด้วยตัวเลขเดี่ยว ผู้เล่นยังได้รับอนุญาตให้เดิมพันสามเท่า การเดิมพันสามเท่าคือการเดิมพันซึ่งลูกเต๋าทั้งสามของเกมกรงนกจะหยุดที่หมายเลขเดียวกัน เกม Chuck-a-Luck เป็นที่นิยมในคาสิโนเนวาดา แต่ในปัจจุบันเกมนี้ได้สูญเสียความนิยมไปเมื่อเทียบกับเกมไฮโล ดังนั้นเกมนี้แทบจะไม่พบในคาสิโนใด ๆ 

 

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