Pay attention avid gamblers. It’s time to learn how to beat the house with card counting and Bitcoin. First understand that there are number of things the two have in common.
Investing in either one of these methods as a way of making money is highly risky, and thus, both involve playing the odds. In order to fully explain the commonalities, it’s best to dive deep into both. A brief explanation of Bitcoin and the strategy behind card counting reveals how maneuvering money in the right way can lead to big profits in a prosperous future.
This post is definitely not above financial advice and the average person managing their money over the long term wouldn’t use either one of these as a weapon of choice. But the gamblers who read BitcoinGG aren’t afraid of taking chances or looking at things from a different angle.
Managing Volatility is Key to Crypto and Casino
Managing volatility is what investing and gambling are both about. In fact, think about anybody who’s ever lost a lot of money in the stock market or on another investment. They almost always equate investing to gambling. It’s only those that succeed in the long run and understand managing volatility that look at both investing and gambling as well, investing.
Managing volatility when it comes to Bitcoin means using something like dollar cost averaging. Basically, an investor takes whatever they’re willing to invest in a year and deposits it into Bitcoin month-by-month. They don’t wait to figure out when the price will bottom out and they don’t worry about missing out when the price is skyrocketing. They follow the same strategy during a defined period of time until they have invested all of what they are willing to put into the game.
The Time to Bet Big
Card counting is a methodology used to make money in the game of blackjack. The player can’t invest the same amount on every bet, but the goal is still the same, to manage the volatility of the expected outcomes when the cards are being dealt.
The first thing to consider when engaging in card counting is that gamblers must understand and master the basic strategy of blackjack. The easiest way to do this is simply to memorize a strategy guide for blackjack. It’s like memorizing a multiplication table in grade school. Players simply memorize what they are supposed to do based on the cards they are dealt and the card that the dealer is showing.
Assuming an experienced player already knows the basic strategic decision-making that goes into every hand, its then time to play that perfectly and size bats based on counting cards.
Basics of Counting Cards
Card counting theory holds that Aces, Kings, Queens, Jacks and 10s are the most valuable cards in the game of blackjack. It’s not just because they get participants closer to 21, it’s because it means there are five different ways to score a double digit number and a deck of cards. All of the rest of the numbers in a deck of cards can only hit the table 4 times on average.
This means that if all the low cards in a deck have been played, the player knows they are more likely to end up with a hand of either 20 or 21. So while it’s not necessarily important to memorize exactly which cards have been played, it’s important to know that once many of the low cards have been played, the odds of getting better hands are increasing. It’s when these odds are at their highest that the savvy card counter will want to wager more on a given hand. Simply because they’re more likely to win.
This is an overly simplistic view of things because most casinos play with five or six decks of cards and they may not offer the opportunity to surrender a hand (which is a huge advantage to the player). But the moral of the story is, winning at blackjack is all about sizing the wager appropriately based on whether the house or the player has the advantage.
The Advantage of Card Counting with Bitcoin
A good blackjack player who is a master of basic strategy and can count cards can use Bitcoin to their advantage because of the fact that Bitcoin can be used all the way down to 12 decimal places, meaning a player can wager thousandths of a penny on a single event. This means their bankroll can last a long time, which means that a player can wait until the odds are in their favor.
Thus, card counting with regular fiat money requires a much larger bankroll than using Bitcoin. That being said, players should be careful when card counting with online blackjack. They must specifically look for online blackjack tables that only play with a certain amount of decks. Fortunately many online casinos offer “live gaming” with actual dealers linked up to a webcam. This is good for counting cards because you can visually verify the dealer changing the chute of cards.
There are many tutorials for mastering the basics of card counting. Learn it, and learn about Bitcoin. It’s a good opportunity to try and beat the house.