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Friday, December 15, 2006
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Thursday, December 14, 2006
Reporting gambling winnings, deducting losses
Lady Luck must be Uncle Sam's cousin, because taxes must be paid on all gambling winnings.
Here's a look at the federal tax forms you'll need to share your good fortune with the Internal Revenue Service. And if you lost a few rounds before your numbers came up, there's a way you can turn those losses to your tax advantage.
Requirements for reporting and withholding from a winning bet depend on the type of gambling, the amount won and the ratio of the winnings to the wager. When you pocket $600 or more (and that amount is 300 times your bet) at a horse track, win $1,200 at a slot machine or bingo game, or take $1,500-plus in keno winnings, the payer must get your Social Security number and let the IRS know that you came into the extra income.
And if you're lucky enough to rake in $5,000 or more on a gambling transaction, you're probably not going to walk away with all the cash you won.
In addition to telling Uncle Sam that you were a winner and how much, the payer in these situations generally will reduce your payout by withholding federal taxes at the 25-percent rate. If you try to shortchange the IRS by refusing to furnish your Social Security number, the payer could take as much as 28 percent of your winnings right off the top to send to the tax collector.
In either instance, you'll get a Form W-2G showing the amount you won and, if applicable, how much in taxes you paid on it upfront.
Even if you didn't win enough to trigger W-2G filing, you do want to be a diligent taxpayer and report those gambling winnings, right? The casino, track or lottery agent might not have reported that $25 you won, but it's still taxable income. It's ultimately the taxpayer's responsibility to tell Uncle Sam about his good fortune.
You report your winnings -- from the W-2G or those smaller jackpots -- on line 21, Other Income, of Form 1040. In addition to gambling proceeds, this is where you'd report any prizes or awards (cash or the cash value of merchandise) you won. All this money goes toward your total income amount.
However, you don't have to pay taxes on all your earnings, regardless of how you got them. You can reduce the amount of money the IRS will tax by reporting your losses as part of your overall itemized deductions. Check out line 27, Other Miscellaneous Deductions, on Schedule A. That's where you report any gambling losses. You can claim up to the total amount of winnings you entered on your 1040, effectively wiping out any taxable gambling income.
But make sure that this deduction, along with your other itemizations, is more than the standard amount. You always want to use the method that will provide you a bigger deduction.
Even though technically you might be able to avoid taxes on $3,000 you won by claiming $3,000 in bad bets, that's still less than the standard deduction of $5,000 allowed a single taxpayer. If you have no other deductions to itemize, it doesn't make sense to forfeit the standard deduction's other $2,000 just because you can claim gambling losses. If, however, your wagering losses are large enough to help boost your already substantial itemized deductions, then fill out the Schedule A.
Keep track of your gaming losses
When you do claim your gambling losses on your tax return, it's a good idea to keep a record of them. While you don't have to send your loss data in with your return, documentation could come in handy if the IRS ever questions the claim.
Acceptable gambling-loss recordkeeping could include a written log detailing the date of your wagers, the location, amount bet, type of gaming, and wins and losses. You should also hang on to losing lottery tickets or bingo cards.
The good thing about deducting gambling losses is that, unlike some other deductions, you don't have to meet a certain level before you can claim them. But then again, they aren't completely unlimited.
You can only count as much in losses as you won. So if you spent $100 on lottery tickets and won $75, you can only deduct $75. The other $25 is just part of the price of playing the game.
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The Secret to Converting Come Bets in Craps
Pssst...! Wanna know a secret? How about the secret of converting come bets at the craps table?
Most of us were taught to play the pass line with odds, and have two come bets up.
Come bets are favored by many players because they represent the hot numbers.
By betting the come, many people believe that they can take advantage of a hot streak or a "monster roll". In addition, come bettors often take double (or more) odds, both on the pass and come lines, to maximize their wins.
The come bet, however, does have some disadvantages. Let us say you have a come bet on the six and eight, nine was the point, and the point was made. You now have a six and eight working on the come-out, with odds. If the seven hits now, you would win your new pass line bet, but lose the flat portion of your "left over" come bets.
Another disadvantage is that the payoffs for come bets are not much higher, and in many cases lower, than equal place bets.
For example, a $10 come bet on the six with $25 odds returns $30 for the odds plus $10 on the flat portion, a total of $40. However, if you bet $36 on the six as a place bet, you would win back $42. In addition, you cannot take down a come bet.
If you stay on the come line with every roll eventually you will lose all of the flat portions of your bets.
Do you wanna know the secret that craps pros use to "convert" their come bets?
Let's find out with the information provided below.
Craps pros know that a number has to hit twice for a come bet to win, compared to once for a place bet. Instead of having your come bet poised to follow the trend of the table, it is easier and more profitable just to make what is called a converted come bet.
A converted come bet is a place bet that is made instead of the corresponding come bet. For example, if the first roll is say, a four and the next two rolls are 5 and 6, you might normally have come bets of $10 with odds on the 5 and 6 - $20 odds on the five and $25 on the six.
Therefore, you now have a total of $65 in play - $30 on the five and $35 on the six.. Betting the come bets and winning, you would have won $40 on the five and $40 on the six, a total of $80.
Instead of betting on the come, you could just place $30 on the five and $36 on the six, giving you $66 in play. You would win $42 on the five and $42 on the six, for a total of $84.
You can then take your bets down so you do not have to worry about the come out seven (if the point was made), or the 2, 3, or 12 (while in the come box).
The next time you want to make a come bet, try a converted come bet instead!
Pssst...! Now you know the secrets of converting come bets!
Learn More: Craps
Most of us were taught to play the pass line with odds, and have two come bets up.
Come bets are favored by many players because they represent the hot numbers.
By betting the come, many people believe that they can take advantage of a hot streak or a "monster roll". In addition, come bettors often take double (or more) odds, both on the pass and come lines, to maximize their wins.
The come bet, however, does have some disadvantages. Let us say you have a come bet on the six and eight, nine was the point, and the point was made. You now have a six and eight working on the come-out, with odds. If the seven hits now, you would win your new pass line bet, but lose the flat portion of your "left over" come bets.
Another disadvantage is that the payoffs for come bets are not much higher, and in many cases lower, than equal place bets.
For example, a $10 come bet on the six with $25 odds returns $30 for the odds plus $10 on the flat portion, a total of $40. However, if you bet $36 on the six as a place bet, you would win back $42. In addition, you cannot take down a come bet.
If you stay on the come line with every roll eventually you will lose all of the flat portions of your bets.
Do you wanna know the secret that craps pros use to "convert" their come bets?
Let's find out with the information provided below.
Craps pros know that a number has to hit twice for a come bet to win, compared to once for a place bet. Instead of having your come bet poised to follow the trend of the table, it is easier and more profitable just to make what is called a converted come bet.
A converted come bet is a place bet that is made instead of the corresponding come bet. For example, if the first roll is say, a four and the next two rolls are 5 and 6, you might normally have come bets of $10 with odds on the 5 and 6 - $20 odds on the five and $25 on the six.
Therefore, you now have a total of $65 in play - $30 on the five and $35 on the six.. Betting the come bets and winning, you would have won $40 on the five and $40 on the six, a total of $80.
Instead of betting on the come, you could just place $30 on the five and $36 on the six, giving you $66 in play. You would win $42 on the five and $42 on the six, for a total of $84.
You can then take your bets down so you do not have to worry about the come out seven (if the point was made), or the 2, 3, or 12 (while in the come box).
The next time you want to make a come bet, try a converted come bet instead!
Pssst...! Now you know the secrets of converting come bets!
Learn More: Craps
Video: Truth behind Online Gambling Ban
Hypocritical congressmen exposed for kickbacks and special interest politics. The truth behind online gambling ban.
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Counting Cards in Comp City
By Max Rubin
Do you know how to count cards and win? If the answer is yes, then you, my friend, have the absolute nuts from this day forward. Think about it. If the casino pit bosses ignore you all night long, you can combine comp counting with card counting and win the equivalent of two bets an hour (one in money, one in stuff). If there's heat, cut your bet spread down to a level that's breakeven, and you'll still earn great comps. If you want deep cover, how's this? You can pound booze and never look at anyone else's cards all night long and still be an overall favorite because of the comps. Meanwhile, no one on that shift will ever suspect you're a counter, and you'll be welcome forever. This book was written to show basic-strategy-level blackjack players how to crush casinos by earning comps valued at ten times their gambling losses. Every tactic portrayed in Comp City can also be used by an accomplished card counter, and you won't even have to fade the losses.
Although I've played my share of winning blackjack, I don't pretend to be a world-class blackjack player on a level with the legendary counters who earn hundreds of thousands a year. But based on my extensive experience on both sides of the table, I believe I have some insight worth discussing here. Some of these tips you'll be familiar with and some may be new to you. A few of them threw me off when I was working the floor. If they're not already in your repertoire, incorporating them might gain you years of card-counting longevity.
Laying CoverYou know all about cover, while most bosses don't even know what it means. But that's not to imply that you should underestimate the enemy. A few bosses in every casino have read the books and a handful of them can actually play a winning game. Although their numbers are few, you should assume that at least one sharp boss lurks in every joint.
This is paramount. Don't take your money back when the dealer shuffles. You're giving up a little, but pulling the money back confirms all of the boss's worst suspicions, especially if the shuffle was prompted by your big bet.
Watching the Pit BossIf a boss catches you looking at him, smile and call him over. Ask him for something-a comp, directions, a recommendation for a show, anything, but don't ever let him see you divert your eyes away from his. It's a dead giveaway that you're up to something.
TippingTip the dealers. You should budget at least 5% of your expected win for the dealers. If you're a big player with a high hourly return, it's almost imperative that you give the dealers at least 10% of your expectation. So what if your profit is reduced by a little blood money? I've had hundreds of conversations in pits about counters and 90% of the bosses believe that counters don't tip. Tipping will buy you years of playing time.
By the same token, if you're betting more than $100 a hand, tip the cocktail waitress $5, no matter what. The bosses will think you're a sport and they know that counters are anything but.
Cover BetsIf a boss is watching, you want to look like a sucker. When you win a hand and he's watching, bet it up no matter what. If you lose, you can go up or down. (If the count's good, bet it up. If it's bad, bet it down.) A boss only has to see you do this two or three times in a session to be convinced that you're a negative-progression or money-management player, not a counter. It will reduce your expected win by a few bucks. But I see it as a valid expense of doing business. Unless you're the type who plays till you're barred, it's the only way to go. There are people in this country who play solo, live in penthouse casino suites, and make half a million dollars a year because they're not afraid to tip and lay cover. Some of these guys lay $500 in cover during a $1,000 session. Guess what the net result is here? $500 an hour, after hour, after hour, after hour.
Sucker Plays That WorkIf you want to get a boss thinking you're a stone sucker, slam that first shot of whiskey and bet a quarter for yourself and a quarter for the dealer on the first hand.
Take insurance when you have a natural. You might even insure your twenties when the boss is watching. Do it with conviction and without hesitation (you know you have to protect those good hands). It'll come up infrequently so it won't cost too much overall, but it leaves a lasting impression with the bosses. A move with similar value is not hitting a soft 18 against a nine, ten, or ace. The word is out on this play; hitting the 18 identifies you as a player in the know.
There are other plays. It's fun to use Stanford Wong's Blackjack Count Analyzer software program to discover those that cost you only a few dollars in expectation for hundreds of dollars worth of cover. If you're a comp counter first, and only use card counting to defray your over-the-table losses, these moves are inexpensive indeed.
AppearanceI never trusted a guy who looked like he woke up just to play blackjack. Don't come in on graveyard shift between 4:00 and 7:00 am rubbing the sleep out of your eyes. No true degenerate gambler (which is what you want them to think you are) ever had to set an alarm clock to tell him when it was time to play. Most graveyard bosses are on the lookout for the ghouls nesting upstairs who descend on the tables before sunrise. If you're playing the graveyard shift, stay up all night or make your plays later in the morning when you can wake up naturally.
Don't drink mineral water. Don't ask me why, but an inordinate number of counters drink mineral water. Get juice, coffee, tea, Dr. Pepper, but stay away from the bottled waters. As far as the bosses are concerned, anyone sitting in a casino drinking anything that smacks of health is not to be trusted.
ConductIntroduce yourself to the boss and give him your VIP card. Talk to him. A lot. If you want to enlist a co-conspirator for the weekend, buy your favorite floorman a $25 three-teamer for Sunday's games (Monday if you're staying that long). The boss will be your buddy for the next couple of days. If you win big, yuck it up. Until you've established a pattern of winning (five or more sessions), if your cover is good enough, there's no way they'll throw you out of the casino for counting. When they like you, some bosses will even warn you if the heat is on upstairs.
Hiding ChipsAs a pro, you know you're doing well if you win an average of one big bet an hour. All you have to do is hide one big bet an hour and you'll be doing great in terms of preserving your welcome. Unless you're playing head up, where the boss can determine exactly how many chips are missing from the rack, you can swing with up to two bets an hour and you'll look like a loser forever. Most places are reluctant to bar "losers," unless they're blatant scufflers.
Buying InIf you're a cash player, don't ever buy in with a lot of currency. Don't buy in for $500 and make $15 bets, for example; gamblers don't do it that way. If your eventual big bets will be $100, buy in for $100 and start by playing quarters. Win or lose, you'll be able to move your bets into your normal spread within a few minutes. If you're losing, it looks natural for you to come out of your pocket, especially when you want to bet big. If you're winning, it looks like you're making a parlay play, also very natural. If you bet $5 for the dealer and $25 for yourself early on, you'll look real easy!
When you come out of pocket, let the money play. I haven't seen five counters in my life who let money play (unless they were trying to get around Regulation 6-A).
DrinkingBuy an O'Douls or a Sharps at the bar. Pour it in a glass. Take it to the table with you. When the waitress comes by, ask for a shot of whiskey, making sure the boss hears you. Slug it down when the boss is watching. Then chug the O'Douls. The next time the waitress comes by, order a real beer and sip it slowly. Time for a break. Take the beer and get rid of it. Buy another fake beer, pour it into a glass, mosey back to the table, and chug it while you're talking to the boss. Order another real beer. Then you sip again. When it's a quarter gone (half an hour or so), order another cold one. By now you'll have to go to the bathroom again and, yep, go get some more fake stuff. In a two-hour session you'll consume the equivalent of a drink and a half and look like you're getting smashed. It works.
WongingStart your play with the best of it. Wong into a rich shoe and make those important big bets when you have a big edge. If you're good, you can back count the game next to you (make sure you're in a position to watch the other layout) and pop into that one when it gets juicy. Just let the boss know you're moving.
Getting Rid of BossesIf a boss is hawking your game, get in his face. Be nice, but bombard him with requests. Ask him for reservations for the show. He'll have to do it, even if he doesn't want to. If he comes back to your game, ask him for reservations for dinner. If he comes back again, ask him for a comp for the coffee shop. Keep this up long enough and he'll stay as far away from your game as he can get. The problem is, he'll also get mad, which will probably have an adverse effect on your rating. If you are playing primarily for the comps, you'll have to tolerate a boss's scrutiny.
Comp City Outtakes: Beat the Heat
How can you tell when there's heat? It's pretty simple. If a floorman who's been gunning your game gets on the phone, and another boss comes over to watch your play (and they both talk while trying not to move their lips), it's getting warm. If either of them picks up the phone after that, you got heat!
Sometimes the second boss will go over to the computer terminal and pull up your "profile." The first thing he looks for is a history: how long you've played (lifetime!), how much they should have won, how much they have won, and the difference between the two.
It you're somewhere within the normal range, they'll surmise that you may not be that dangerous a blackjack player.
| Theoretical Casino Win | $10,000 |
| Actual Casino Win | $ 8,000 |
| Difference | $ 2,000 |
If they see that you're only losing about 10% of what is expected, their radar switches on and they'll surely tell the eye to watch what you're doing.
| Theoretical Casino Win | $10,000 |
| Actual Casino Win | $ 1,000 |
| Difference | $ 9,000 |
What you don't want them to see, although it's sometimes impossible not to if you book an extraordinary winner, is any kind of winner at all, especially if you have 100+ hours of play.
| Theoretical Casino Win | $10,000 |
| Actual Casino Win | ($ 1,000) |
| Difference | ($11,000) |
They know they should have won $10K, but they've lost $1K. What does that mean to them? Something's wrong, no doubt. What does that mean to you? If you want to play over a long period of time in one particular house for comps, monetary profit, or both you'd better learn to hide two units per hour. But the issue here is heat detection and what to do about it. Most card counters really sweat the boss's scrutiny, but they don't need to. If a floorman is standing over your game and watching every hand, he probably suspects that you're counting, but it's highly unlikely that you're already being watched from upstairs. You still have time to implement some damage control. If you keep moving your money, and he goes to the phone, it's time to go on red alert. (Floormen can't order a surveillance check. The order must come from a pit boss or higher.) Here's what happens in most places:
- Floorman agitated, calls bigger boss ==>
- Big boss watches you and/or pulls up your computer file ==>
- Big boss notifies surveillance ==>
- Floorman "gives you air." (Acts disinterested so the "eye" has time to evaluate your play.) ==>
- Eye tries to match your face to mugs in Griffin Book. If no match, they do a "skills check" (30-60 minutes). Reports to management. ==>
- If you are labeled as "counting," you will be barred and possibly photographed. If you are labeled as "not counting," your name is logged as such, and you have a free pass (until you win a lot of money).
So what do you do when you know you're under the microscope? At this point you have three options: leave, keep counting, or lay some cover.
Leave - If you beat a hasty retreat, every time a pit clerk calls up your computer file (marker, rating input, comp request, etc.), SKILLS CHECK! flashes on the screen. That means you'll be branded as a potential counter for at least the duration of this trip and maybe for a whole lot longer. Your counting life expectancy in that joint has just been reduced.
Keep Counting (and moving the money) - Sure, it takes anywhere from 30 minutes to an hour for a good surveillance expert to tag you properly. You should be able to win at least a piece of a big bet before they take your picture, post it in the security office, give it to Griffin, pass it around to other casinos, bar you for life and terminate your comps. Nice move.
Play Like a Chump - If not for the rest of the trip, at least for the next couple of hours. You'll still get your comps and you'll still be a slight favorite, but you can't move your money with the count, unless it's real, real natural. What you must do is keep moving your money randomly, with no consideration of the count. If all of a sudden you turn into a flat bettor, you're going to embarrass the boss who alerted surveillance, and he's going to follow you like a dog in heat forever.
I know this play's going to crumble your corks, but the heatiest play you can ever make is not insuring a natural. It'll cost you about eight bucks every time you do it (assuming a $100 bet), but if you have a snapper and don't insure, the other players will get bug-eyed, the dealer will stop the game and ask you why you didn't, and the boss will head straight to the phone and put Big Brother on your butt, especially if the dealer doesn't have the ten. You'll only get a natural against a dealer's ace once every four or five hours, so give up the two bucks an hour and you'll live to play another day (or swing).
If you choose to play like a chump, you can decide for yourself how to alter your play depending on how much you're willing to give up in expectation. Here are some examples. None of these plays will cost you more than $4. (The following were derived using Stanford Wong's Blackjack Count Analyzer, assuming a $100 bet on a six-deck shoe.)
| Player | Dealer Up-Card | Cover Play | Cost |
|---|---|---|---|
| 14 | 4 | hit | $0.40 |
| 14 | 6 | hit | $1.80 |
| 12 | 3 | stand | $1.80 |
| 11 | A | double | $3.10 |
| A7 | 10 | stand | $3.50 |
| 10 | 10 | double | $3.60 |
| 12 | 2 | stand | $3.90 |
| 13 | 3 | hit | $4.00 |
Index Plays
The real savvy guys upstairs know the index plays. If you suspect you're being watched, don't use them. Either stick to basic with a few cover moves or vary from them on things that look natural, like standing on 16 vs. 10, etc. Do not hit stiffs against stiffs when you should. It's a dead giveaway.
SpottersIf you get spooked by someone on your game who appears to have a keen interest in what you're doing, remember this: spotters do not sit on blackjack games. Period. They stand behind or beside the game. They try to remain invisible, but they can't. If you want to spot one (or freak him out) stand up when you play. If you suspect he's trying to see your cards, move your body so he has to move his. Very few disinterested game watchers will contort themselves to watch your cards. If he's squirming like the snake that he is, he's a spotter. Gaming agents and coppers are a different matter (they will play on a game), but if you're just counting, you don't have to worry about them.
Counter CatchersMost clubs have a designated "counter catcher" (who's called to confirm the suspicions of spotters, other bosses, etc.). They usually work in the pits or upstairs. The technology they use to catch counters is getting more sophisticated every day. Suffice it to say (and it's always been this way): It's much more important to have a world-class cover than a world-class card counting system. The only way they'll catch you is if they suspect something in the first place. Don't let them think that you're smart. Don't be a stiff. Don't be a nerd. And don't move your bets up and down precisely according to published guidelines (counter catchers read the same books). If you play with a casual and relaxed style, bosses aren't compelled to surveille you.
Comp Notes for Team PlayersIf you're calling plays for a BP, always get rated, but not necessarily with the same name every time. You'll be amazed how much money you'll save the team's bankroll if you keep expenses down by getting free rooms and food.
If you're calling plays and the BP scores a big gourmet room comp, you can't go. How would you like for your (un)favorite shift boss to saunter in to say hello to the BP and see you, a measly $25 bettor, swilling $100 wine with him? You wouldn't. If you want to feast together, do it with room service. The same goes for other members of your teams. If you want to party together, do it when you make bank. And do it in a joint other than where you went over the top.
For the same reasons, don't ever use a BP's gourmet comp for yourself in a Las Vegas casino. The shift bosses often cruise the big rooms at least once a night. They look at the maitre 'ds comp log and then exchange pleasantries with the RFB customers. You might wind up exchanging blows if you're the wrong guy in the wrong chair
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Bingo Strategy
Bingo, as we've said before, is a game of chance; so, ultimately, winning depends on luck more than anything else. Yet, it'd be wrong and foolish to say that there aren't ways to improve one's chances of winning through smart decisions.
What we've compiled below are some basic and common bingo strategies that could go a long way towards improving your bingo success rate and your overall enjoyment of the game. More experienced players are probably already familiar with most of these concepts and suggestions, but a refresher never hurt anyone and beginners should find the information quite useful. Some tips are more obvious and/or useful than others, but they're worth repeating here nonetheless.
Check back often as we update ourBingo-Strategy' section.
Popular Strategies
Use theAuto-Daub' Function
We know it takes away the onlyskill' involved in the game in the first place, but consistent use of theauto-daub' feature, if available, is perhaps the most strategic decision you can make. Yes, it removes some of the excitement and mental aspect of the game, but it also eliminates the possibility for errors!
Play More than 1 card
Yes, it costs more, but playing several cards is perhaps the most sure-fire way of improving your odds of being able to yell outBingo' and collect some of those prizes. Choosing how many cards depends on 1) the number of players involved 2) the cost of each card, and 3) the prize money at stake. Experts suggest four cards as the optimal number, but this can vary depending on the number of opponents you're facing and the total prize money for which you are competing.
When playing with more than 1 card, pick cards which differ as much as possible
According to thisstrategy', if you're playing with more than one card, it's best to make sure that each card has different numbers which aren't duplicated on other cards. The theory here is that if a number that you have on more than one card doesn't come up, you've compromised the value of more than one card. In other words, spreading out the numbers spreads out the risk and keeps you in the game longer!
When playing with more than 1 card, pick cards which are as similar as possible
The opposite of the more conservativespread the numbers/risk' strategy above, this strategy is also known as the numbers-concentration method. The idea here is that if you select cards with as many duplicate numbers as possible - which is easily done online - you can double or triple up each time you hit a number! Essentially, you're maximizing the benefit of each lucky strike.
Choose games with Fewer Players
While a game with fewer players means smaller prizes, it also means that you have a better chance of victory than at larger games with more players. We know it sounds obvious, but seriously, you'll improve your chances of winning if you follow this guideline. To achieve this, try signing-on to sites duringdown' hours when less players are logged in and playing.
Go After the Big Prizes
We know this flies in the face of our other strategy tip (`Choose games with Fewer Players`) but each suggestion has its merits. By going after the big jackpots and prizes, yeah, you're probably then choosing to play games with more players (=less chance of winning). However, you're also making sure that when you do win, it's a BIG win! So big, perhaps, that it covers your losses from several previous exits.
Chat Room Games
To supplement your winnings or make up some of your losses, try playing in any number of the chat room games online. Often, these games, which play while the normal game is running, can feature some nice bonus dollars and can be a lot of fun.
Learn More: Bingo
Spotting Online Poker Tells
By Greg Sullivan
A tell is any sign from a player that gives away his strategy or his hand. For example, in a live game, you may notice that certain players avoid looking into your eyes when they are bluffing.
Learn More: General Poker Knowledge
A tell is any sign from a player that gives away his strategy or his hand. For example, in a live game, you may notice that certain players avoid looking into your eyes when they are bluffing.
The ability to read your opponent's tells is a crucial poker skill. Unfortunately, many players mistakenly believe that it is impossible to read tells in the virtual world. While you cannot stare into an opponent's eyes while playing online, this does not mean online players do not have tells.
The tells are there, you just have to know how to spot them.
Betting Speed Tells
You can tell a lot about your opponent's hand strength based on how fast he makes his bets. Here are some of the most obvious betting speed tells:
The Quick Check
A quick check by a player usually indicates a weak hand. If you are on the button and all the players before you checked quickly, you can probably take down the pot with a strong bet.
However, be very careful if a player re-raises after checking quickly. In this situation, your opponent's early quick check was probably an attempt to trap you into betting into his strong hand.
Pause and Check
A player who pause a long time before checking is trying to scare others into checking as well. The “pause and check” player hopes the pause will convince others that he is holding a monster hand, and that he is taking his time to decide whether he should bet or check-raise. In reality, this player has a drawing hand and is using the pause to get a free card.
Pause and Bet
A player who thinks for a long time before betting usually has a monster hand. He hopes other players will read the pause as weakness and bet into him.
Quick Raise or Re-Raise on the River
A player who raises quickly on the river generally has a good hand. He thinks you will interpret his raise as a last desperate bluff.
A Note on Pre-Action Buttons
To speed things up, most games offer pre-action buttons that allow you to pre-select your bet before your turn.
For example, you may select the “check” button before your turn. When it is your turn to bet, you will check instantaneously. Some of the most popular pre-action buttons include “fold to any bet,” “check,” “call any bet,” and “raise pot.”
A player who pre-selects the check button probably has a weak hand; if he selects the call any bet button, most likely he has a good hand; and if he selects the raise pot button he is probably holding a monster.
Moreover, players who use pre-action buttons are most likely not paying attention to the game. They are either playing on multiple tables or doing something else on their computer. These players will only bet if they have good hands, and are less likely to employ fancy tactics like bluffing or check-raising.
A Warning About Betting Speed Tells
Betting speed tells are not always accurate. You have to use some common sense. For example, if a player has been disconnected several times during the game, his slow betting is merely a sign of a bad connection. Similarly, if a player is playing on more than one table, don't read too much into his betting speed, because his betting speed is influenced by the demands of his other table.
Table Chat Tells
Some players like to disable player chat because they find the chatting distracting. This is a huge mistake. You can learn a lot about your opponent's personality and state of mind by reading their chat messages. For example:
The Chatter Box
Generally, if a player who has been very chatty suddenly becomes quiet, he probably just flopped a monster hand. He is afraid of accidentally revealing the strength of his hand, so he decides to shut up.
The Tilting Player
It is not hard to spot a player on tilt. After a bad beat, a tilting players will become extremely sarcastic or abusive. He will start calling other players “amateurs” and declare that he is “playing with a bunch of morons.” Most likely he will start making ridiculously aggressive bets to relieve his anger. If you have decent cards, you can clean out this guy pretty quickly.
The “Honest” Player
Some players will flat out tell you what cards he is holding. Believe it or not, if the pot size is small, these players are most likely telling the truth. The honest player's strategy is to candidly reveal his cards if the pot size is small.
When the other player's guards are down, the honest player will use his honest table image as an advantage to win the big pots.
The Professor
There is a know-it-all at every table. This player will give unsolicited advice on every hand. Most likely this guy just finished reading a poker book from cover-to-cover and feels he has to share his knowledge.
Instead of telling this guy to shut up, you should feed his ego and ask him for advice. Happy to be recognized, he will reveal his entire strategy to you without hesitation.
The Short Stack
A player with less than half of his buy in is either on tilt, desperate, or both. A short stacked player feels he has to make a move, and cards like A 
J 
suddenly look like a good all in opportunity.
Waiting for the Big Blind
When you sit down at a Hold'em table, you have the option of waiting for the big blind to get to you, or you can post a matching big blind and start playing immediately.
A player who does not wait for the big blind is probably an impatient player. He is probably more interested in having fun than playing serious poker. You can expect him to play a lot of bad starting hands.
On the other hand, a player who waits for the big blind is probably a tight and cautious player. He is more selective about his starting hands and will not bet a lot of money unless he has a monster hand.
How to Spot Specific Tells
Some players take a break when they are not involved in a hand. That is a shame because every hand reveals a wealth of information about your opponents. You should meticulously record what type of starting hands they play; how much they are willing to pay for certain hands; their demeanor when they have a great hand; and the type of plays that will set him on tilt.
Avoid Giving Off Tells
Since most tells are based on a player's betting speed, there are two simple ways to confound your opponents. One way is to randomly mix up your betting speed. This method is not 100% reliable, because even when you think you are betting randomly, you may still be subconsciously betting in a pattern.
The better option is to always bet at the same speed. Regardless of whether I am holding rags or pocket aces, I always count to five Mississippi before I make a bet. Not only does this eliminate my tells, it also forces me to think about my bets before I make them.
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Italy, Spain usher in new gambling regs
By Bradley Vallerius
Gaming regulators in Italy and Spain have passed legislation to liberalize land-based and Internet betting, prompting a deluge of license applications from foreign operators.
In Italy, the government is auctioning off 17,000 licenses for sports and horse racing betting at shops and other outlets. Companies have been invited to bid for the number of outlets for which they want licenses. Sports wagering will also be permitted online.
Remote casino gaming and brick-and-mortar casinos are also being regulated by Italy. More than 30 companies-- many of them bookmakers, including Betfair, William Hill and Unibet-— have already received licenses to offer remote gaming. Remote wagering on skill games and person-to-person betting exchanges is also being regulated.
The Spanish federal government has enacted legislation allowing sports betting in shops, retail outlets and online, and regional governments were given the ability to impose conditions as they see fit. Madrid's regional government published regulations outlining its licensing conditions last month. Unlike Italy, Madrid has established a fixed license fee and a limited number of licenses. But license holders can open as many shops and outlets as they please.
Britain's largest betting operators appear well-placed to take advantage of the opening markets. Gala Coral already operates an Italian-language Internet site and a betting shop in Genoa. Ladbrokes entered into a joint venture agreement with Italian firm Pianeta Scommesse in August and bought three betting shops in Turin last month. And William Hill is finalizing a joint venture with Spanish firm Codere after the European Commission announced last week that it would not oppose such a partnership.
"Essentially, this is a case of creating a new market or converting an illegal market into a legal market," said Nilay Patel, corporate finance manager for William Hill. "We don't have the facts, figures and information on which to make sensible estimates of the potential size of the opportunity.
"Until we actually have a couple years of operating experience in these markets, we really don't know how they're going to develop," he continued.
Italy had, until recently, resisted the notion of allowing foreign companies to offer Internet betting and gaming products to its citizens. The Italian Ministry of Economy and Finance had gone so far as to order the country's Internet Service Providers to block access to the websites of foreign betting operators in February. But when foreign betting operators complained Italy's policies violated European Union free trade laws, the country became one of nine Member States against whom the European Commission launched infringement proceedings.
Taking over in April, new prime minister Romano Prodi's government is ushering in far-reaching economic measures, including an early mini-budget intended to cut the country's deficit by more than 11.2 billion Euros. The gambling and betting industries are among the most substantially affected.
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Video: Caribbean Stud Poker –Learn How to Play this HOT Poker Game
Players World teaches you to play Caribbean Stud Poker one of the most popular games on the casino floor.
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Strategies for Beating the Roulette Wheel
The various systems that we covered in the previous sections may be fun to play, but they don’t do anything to change the casino’s advantage. If you play roulette using one of those system, or another betting scheme, or you just make random wagers, your bankroll will begin to shrink sooner or later. The only way to slow this process (or prevent it altogether) is to lower or eliminate the house edge.
Play like the French
One way to squeeze the casino is to play a European-style single-zero wheel. This cuts the house edge from 5.26 percent down to 2.7 percent. That’s a considerable chunk.
Happily, you don’t have to visit Monte Carlo to play a European wheel. Many American casinos and gambling websites have them. But sometimes it’s with a catch. The European wheel will have a higher table minimum than a double-zero version at the same casino. No problem if you were planning to risk the extra money, but don’t play for higher stakes just to get a lower house edge.
Surrender and En Prison
Some American casinos (primarily those in Atlantic City) offer a modified version of the European rule en prison; it’s called surrender. When surrender is allowed, a 1:1 bet that loses to zero or double-zero is only half-lost. You can leave the bet on the layout and hope for a push or take half back. Surrender cuts the house edge on 1:1 bets down to 2.63%.
As I mentioned previously, en prison on a European wheel drops the house edge on 1:1 bets down to 1.35%. The extra spin is mandatory in Europe, which is why they say “en prison.”
Avoid the Five-Number Bet
A five-number bet (zero, double-zero, one, two, and three) is available only on American wheels. The house edge is a hefty 7.89%. It’s a bad bet; don’t make it. If you truly have a vision that one of those numbers will win, then bet it straight up or make a street or split bet. That will cut the house edge by more than two percent and will return between two to six times more than a five-number bet.
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