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Gambling: You And Your Money

 
Frank Scoblete
Meet the Expert
Golden Touch Craps
  • Should I have a "gambling budget" when planning to gamble in a casino?
  • Can I learn to gamble from the "free gambling seminars" offered by the casino?
  • What are some of the scams perpetrated on casino gamblers?
  • How do I know if I have a gambling addiction?
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Casino Gambling
 Gambling Basics 
  1. Frank Scoblete
  2. Where is gambling legal? 
  3. What are "offshore" and "online" gambling? 
  4. Are offshore and online gambling legal? 
  5. How do I collect my money from an online or offshore gambling site? 
  6. What scams are common with online or offshore gambling? 
  7. What can I do if I am the victim of an online or offshore gambling scam? 
  8. Do I have to report gambling winnings on my tax returns? 
  9. Can I deduct gambling losses on my tax return? 
  10. Is there any way for the government to know if I won money by gambling? 
  11. What states are currently considering legalizing gambling? 
  12. Is "River Boat" gambling different from casino gambling? 
 Gambling Odds 
  1. Frank Scoblete
  2. What are "odds"? 
  3. In casino gambling, are odds applicable over time, or do they apply to each individual game or trial? 
  4. What is the "house advantage"? 
  5. Which casino games represent the best odds for a player? 
  6. Does the "house" always win? 
  7. What does "playing with the casino's money" mean? 
  8. What is the rule of thumb regarding "when to walk away"? 
 Casino Rules And Practices 
  1. Frank Scoblete
  2. Are gaming rules the same in every casino? 
  3. What is a "table minimum"? 
  4. Do table minimums change at various times of day? 
  5. What are "table maximums"? 
  6. Can I ever make a bet that exceeds the table maximum? 
  7. What does "check change" mean? 
  8. What does "coloring out" mean? 
  9. What is a "pit boss"? 
  10. What does "card counting" mean? 
  11. How can I learn to card count? 
  12. What will happen to me if I'm caught card counting? 
  13. How does casino security know what I am doing? 
  14. What is a "marker"? 
  15. What does it mean to "get rated" in a casino? 
  16. What are "comps"? 
  17. When is the best time to find the lowest stakes tables in a casino? 
  18. How does the casino make money with poker games? 
  19. What is the "vig"? 
  20. When should I tip the dealer and does he get the tip? 
Gambling: You And Your Money (Now Playing)
  1. Frank Scoblete
 Blackjack 
  1. Frank Scoblete
  2. What is the basic objective of blackjack? 
  3. What does "hit", "stay", and "bust" mean when playing blackjack? 
  4. What is the "shoe"? 
  5. Why can't I touch the cards when playing blackjack in a casino? 
  6. What are the odds of winning in blackjack? 
  7. What is the "basic blackjack strategy"? 
  8. If I follow the basic strategy for blackjack, will I decrease the house advantage? 
  9. What is a "hard hand"? 
  10. What is a "soft hand"? 
  11. What is "doubling down"? 
  12. What does it mean to "split" a hand? 
  13. What are the "dealer rules" in blackjack? 
  14. What is "insurance" on my blackjack hand? 
  15. What are some basic strategies for playing blackjack? 
  16. What is a "basic strategy card"? 
  17. What factors should I consider in my blackjack strategy? 
  18. When should I double down? 
  19. Should I always split 8's? 
  20. Are there any other cards I should split? 
  21. Should I vary the amount I bet while playing Blackjack? 
 Craps Lingo And Basics 
  1. Frank Scoblete
  2. What is "craps"? 
  3. What are the overall "odds" in craps? 
  4. Do certain bets on the craps table have better odds than others? 
  5. Who is the "shooter"? 
  6. What is the "point"? 
  7. What are the "pass" and "don't pass" lines? 
  8. What is the "come line"? 
  9. What is the "don't come" line? 
  10. What is the "come out roll"? 
  11. Once the shooter has his "point", how long does he roll? 
  12. What is the most basic betting strategy in craps? 
  13. What is the "odds bet" or "backing up" my pass line bet? 
  14. Is there a limit to how much I can "back up" my pass line bet? 
  15. What are "true odds" in craps? 
  16. Should I always back up my pass line bet to get true odds? 
  17. Can I take my odds bet off the table at any time? 
  18. What are the "place bets", and how do they win me money? 
  19. What does the number 7 have to do with the game of craps? 
  20. Can I move my "place bets" on and off the table? 
  21. Should I "cover" all of the "place bets"? 
  22. What are the odds on each of the place bets? 
  23. What are "hard" and "soft" way bets? 
  24. What are the "prop" bets, and what are the odds? 
  25. What is a "Yo" bet? 
 Slot Machines 
  1. Frank Scoblete
  2. How do slot machines work? 
  3. When were slot machines invented? 
  4. Are slot machines the game most favorable to the casino? 
  5. What is a "progressive slot" machine? 
  6. What are the odds of winning on a slot machine? 
  7. What are the odds of winning on a progressive slot machine? 
  8. What is a "loose" slot machine? 
  9. How can I identify a loose slot machine? 
 Poker 
  1. Frank Scoblete
  2. What is "poker"? 
  3. What are the basic poker hands from weakest to strongest? 
  4. What is the difference between "stud" and "draw" poker? 
  5. What is an "ante"? 
  6. What are the "stakes"? 
  7. What does "no limit" mean? 
  8. What does it mean to "raise" and when should I do it? 
  9. What does it mean to "call" and when should I do it? 
  10. What is the basic order of game play in poker? 
 Texas Hold 'Em 
  1. Frank Scoblete
  2. What is "Texas Hold 'Em Poker"? 
  3. What is the basic game play in Texas Hold 'Em Poker? 
  4. What does it mean to "open" in Texas Hold 'Em Poker? 
  5. Who can raise the bet in Texas Hold 'Em Poker? 
  6. What does "fold" mean in Texas Hold 'Em Poker? 
  7. What is the "flop" in Texas Hold 'Em Poker? 
  8. What is the "river" in Texas Hold 'Em Poker? 
  9. What is the "turn" in Texas Hold 'Em Poker? 
  10. When should I fold in Texas Hold 'Em Poker? 
  11. What is a poker "bluff"? 
  12. What is a poker "tell"? 
  13. What does "all in" mean in Texas Hold 'Em Poker? 
  14. How can I calculate the odds of getting the poker hand I am going for? 
  15. How can I play in the big poker tournaments I see on television? 
  16. Can I really learn to play poker online? 
  17. Are internet poker sites legal, and do they pay cash? 
  18. Are the rules the same when playing Texas Hold 'Em online as they are in the casinos? 
 Roulette 
  1. Frank Scoblete
  2. What is "roulette"? 
  3. What are the basics of roulette? 
  4. How soon before the wheel stops can I make a bet? 
  5. What is the house advantage in roulette? 
  6. What are the odds of a specific number coming up in roulette? 
  7. If I play a number long enough in roulette will it come up? 
  8. What is an "on red" or an "on black" bet mean in roulette? 
  9. What are the odds of winning a color bet in roulette? 
  10. If I bet on a specific number in roulette and it hits, what do I win? 
  11. What are the various bets I can make on a roulette table? 
 Casino Bets 
  1. Frank Scoblete
  2. What is the "sports book" in a casino? 
  3. What kinds of sports can I bet on at the casino's sports book? 
  4. What does the "line" on a bet in a specific sporting event mean? 
  5. What does it mean when a team is giving or getting "points"? 
  6. How are the odds on a given sports book bet determined by the casino? 
  7. What does "parlay" mean in betting? 
  8. What is a "proposition bet"? 
  9. How does a casino make money on sports betting? 
  10. Can I make Vegas sports book bets over the phone? 
  11. How do I collect on my sports book bets if I am not in Vegas? 
 Lotteries 
  1. Frank Scoblete
  2. What is a "lottery"? 
  3. Are state lotteries the only legal lotteries? 
  4. What if I lost my lottery ticket? 
  5. Do I need my original winning lottery ticket to collect my winnings? 
  6. What does it mean when my winnings are "paid over time"? 
  7. What is a "lump sum" payout? 
  8. How do I calculate the "lump sum" or "over time" lottery payout? 
  9. Can I share a lottery ticket with others? 
Frank Scoblete Mr. Frank Scoblete
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Transcript

Gambling: You And Your Money

Should I have a "gambling budget" when planning to gamble in a casino?

A good way to budget for gambling at a casino is to setup a seperate bank account. If you add small amounts of money to this account, then you can be sure that you're not gambling away your life savings; whilst still having enough to have a good time.

Can I learn to gamble from the "free gambling seminars" offered by the casino?

Many casinos offer what are called free gambling seminars. You go up to a craps table, they teach you how the game is played at the free gambling seminar. You go up to a blackjack table, they teach you how the game is played at the free gambling seminar. However, since the house has an edge on all the bets they're going to discuss, you can't beat the house based on those free gambling seminars. But one thing you should keep in mind when you go to one of these free gambling seminars: if they don't tell you what the house edge is on all the bets, then they're treating all those bets as equally good. And they're not. You want to take a free gambling seminar where the casino says, "This is a good bet, this is a bad bet."

What are some of the scams perpetrated on casino gamblers?

When you are in the casino, you have a lot more to worry about than just the "house edge". Criminals will often resort to distraction techniques in order to relieve you of your cash or chips; they will take advantage of faulty machines in order to take you money, and some will be so brazen as to pick-pocket you on the casino floor. Another thing to worry about are "chip-stealers"; they can be avoided by carefully stacking your chips with the higher value chips in the middle.

How do I know if I have a gambling addiction?

Gambling can be a lot of fun, and the atmosphere and excitement can be exhilarating. Gambling addictions are characterized by three things: you are unable to stay away from the casino, winning and losing aren't as important as playing, and you begin to use money that you had reserved for other things. If you are even slightly concerned that you have a gambling addiction, then contact "Gamblers Anonymous".

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  • Should I have a "gambling budget" when planning to gamble in a casino?
  • Can I learn to gamble from the "free gambling seminars" offered by the casino?
  • What are some of the scams perpetrated on casino gamblers?
  • How do I know if I have a gambling addiction?

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