Unfortunately, too many new gamblers rely on luck to win the casino game. Casinos can be a comfortable place to burn through your precious money, so your greatest chance for hanging on to your hard-earned money is through a small dose of knowledge. But, you may wonder, when it comes to snatching tons of cash in the casino, isn’t there really such a thing as luck? Generally, the answer is certainly – but you shouldn’t count on your rabbit’s foot to guide you on the winding path to riches and glory over the long haul. The word luck can describe most situations, especially in casino gambling. Someone may experience a lucky run during a baccarat game, or perhaps your Aunt Jeannie plays a really lucky slot machine that almost never loses. But to have a practical perspective of your odds in the casino, you should view luck in intellectual and rational terms: Luck is an irregular deviation or fluctuation from the norm. A player may perceive that he gets totally lucky when the dealer busted six hands in a row at the blackjack table. But actually, such an occurrence is just routine fluctuation – a.k.a. a random walk – it happens when the stock market drifts to a direction or another. For example, during a Caribbean Stud poker game, for each $100 you wager, you may expect to lose about $5. But over the short term, virtually anything can happen. You can get lucky and end the day $100 richer – or you may get very unlucky and lose a lot more than five bucks.
In a strictly mathematical point of view, neither of those results has anything to do with simple luck. They are merely a normal consequence of fluctuation. For example, you may try to flip a coin. Half the time it should be half heads and tails. Yet over a short-term sampling, it may veer quite far from 50 percent.