Identifying a bad bet and trying to define a bad bet is harder than what it appears at first. This is mainly because good and bad bets are each related to their own specific game. A good type of bet for one game might not be a good one for another.
Each bet should be judged in its own context; in the bigger picture of its own game. Ultimately it always comes down to a matter of basic maths, more specifically the house edge.
Knowing The Game
Each game presents with a different house edge. It’s up to you to familiarize yourself with the house edge as well as the intricate finer workings of the game. Understanding the arithmetic behind the game is very important. Simply knowing which bets to avoid in your particular game of choice goes a long way towards making good bets instead of bad ones.
Bad Bets In Blackjack
A truly type-A bad bet in Blackjack is the insurance bet. Players are fooled into believing that insurance will protect their hand in the event that the dealer lands a blackjack, when in actual fact it basically comes down to wagering on the fact that the dealer will in fact have a natural blackjack. The trick is not to be fooled by the numbers.
Another folly is the Perfect Pairs bet. Perfect Pairs operates on the premise that the first two cards dealt to the player have a good chance of being a pair of the same value, for example a pair of two’s, fours, etc. The reality of the matter is that in the greater scheme of things, the chances of this happening are very, very slim. Even more slim than landing a blackjack a couple of times in a row.
If the two cards do not form a pair, the Perfect Pair wager is lost. Players lose a whole lot of money by wagering on the off chance of a Perfect Pair.
Roulette: The Good And The Bad
When trying to avoid a bad bet in Roulette, one must start at the very beginning: choosing which wheel to play. There are generally two types of Roulette wheels present in the casino: the American Roulette wheel and the European Roulette wheel.
The American wheel consists of 38 slots and the European wheel will sport only 37. The American wheel will also include a 00 slot, which the European version does not. This may seem like an insignificant difference at first, but it is everything besides. The extra slot makes quite the difference to the overall house edge, placing the American wheel at a much higher house advantage than the European wheel.
Baccarat: The Good Guy
Baccarat is considered to be the all round good guy as far as bad bets are concerned. This is due to the fact that Baccarat has a lower than usual house edge. The decision is simple; players decide whether they want to bet on the banker, the player or the tie before each round commences. The banker bet offers the lowest house edge of all three.
Baccarat also offers insight into what to look out for if you’re not yet too fluent in determining the house edge on your own. The bottom line is this: the simpler the game, the fewer the options, the better the bet, i.e. the lower the house edge.
Players who have become experienced at avoiding bad bets know that this is the key to betting more successfully: keeping it simple and uncomplicated.