Type ‘win at Blackjack’ into Google and you will be faced with hundreds of ‘systems.’ Nearly all of the systems fail. The Internet contains a wealth of information. Unfortunately with that comes a wealth of misinformation. But not to worry, they have “guarantees.” The oldest scam in the book goes something like this:
“I will give a select few lucky people my secret system for free. You pay me nothing, unless you win. If you win, you give me half of your winnings. If you lose, you pay me nothing. Thus there is no risk.”
The scam is simple. You get a worthless system. But in the short-run, some percentage of people will win no matter how badly they play. So the system seller gets money from these lucky people. Of course next trip, they are likely to lose.
How does it hurt the player? Simple math. Suppose the edge against you is 1%. Some people will win and some will lose; but it will average out to 1%. For example, four players will each bet $1,000 for a total of $4,000. On average, $40 will be lost to the casino. But since there is much variability, it is unlikely that each will lose $10. Perhaps one will win $20 and three will lose $20. This will still mean a gain of $40, or 1%, for the casino.
But suppose each of the players uses this “system.” Well, the $20 winner will give up half of his winnings to the system seller. Now, the casino gets $40, the system seller gets $10 and the players lose $50. The house still gets its 1%. But the players lose 1.25%. The system seller has skimmed money from the players.
Legitimate methods of beating the casinos exist. But anyone who advertises the above scam should be looked at very carefully. He is the only person playing with “no risk.”
© 2009 Norman Wattenberger
