My Las Vegas betting strategy

I am going to be in Vegas for a conference in October. My gambling budget is $300. I intend to gamble every night while I have money in my budget.

Every night that I am there, this is my betting strategy:

1. Put $100 on an even money roulette bet, black/red, upper/lower, odd/even, whatever feels good. Do NOT look at the history.

2. If I win that bet, I have my gambling stake for the night. I go to the blackjack table. I use my "when to quit" betting strategy. Essentially, it is this: Bet $100. If I win, double up. If I lose, bet $25. Lose no more than my budget, and quit when it just feels wrong. On my blackjack simulator, I win about every 10th session of gambling. I hope that one of these times happens while I am in Vegas.

3. After I quit playing blackjack, if I am well in the money, I go to the bar and put $100 in a video poker machine. I sit and drink and play until my $100 is gone. As an aside, the last time that I was in Vegas, I won $365 total. About $70 of that was from video poker. Video poker is not part of my betting strategy, but here it is anyway: if you get in the money, CASH OUT!

The disadvantage of my strategy is this: I could lose my entire $300 budget by losing my roulette bet three nights in a row. That will be no fun. But then, that means that I am losing and that I shouldn't be gambling anyway.

As another aside, I can tell you that putting a $100 bet on the roulette wheel is a charge. Everybody notices and you get a lot of action. If you win, it is exhilarating. If I had any balls, I would put down my entire stake. If I am in the money, that is precisely what I will do. If I hit one of my 1/10 blackjack winning streaks, I might just put down $1000.

Heh, a $1000 bet is my limit.

If you insist on starting off your session with a single even-money bet, I would urge you to consider craps or mini-bacc instead of roulette.

Ok, please provide more details.

Quote: Jarhed214

Ok, please provide more details.

I think it has to do with the "price" that you are paying to make the bet... which is a view you can take of what the House Edge is. Its the amount that the casino is nicking you to "wet its beak" so you can have your fun.

At roulette you are "paying" a house edge of 5.26 percent and you are doing this to make an even money bet that pays 1:1.

At MiniBacc, you are paying a 1.06 percent house edge for what can be viewed as either a 1:1 bet or a 19:20 bet.

At Craps, you are paying a 1.24 percent house edge for a 1:1 bet.

I don't know if its all that important or not. You are free to choose the casino and its possible that some casinos have liquor or ladies that are more to your liking than others. In short, you may be willing to pay the higher price quite happily. I'm not really sure.

I'm not really sure either. I am trying to have a good time at the casinos and trying not be an idiot. Your advice is very valuable.

I hate craps. I would appreciate your advice about how to get a 1:1 bet at the table. Thank you for your time.

George

Just put your $100 on the pass or don't pass at craps (you can do this any time the big black and white button says OFF), or the player or banker at mini bacc. Both have a much better chance of winning than any outside bet at the roulette wheel.

Soda put it correctly on the odds. Since the amount of time gambling seems to not be a concern, why not just stay away from gambling and spend the money drinking? More than 50 percent of the time that is what you are going to be doing, without the $100.