sports book
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Friday, January 12, 2007
play black jack for fun
Black Jack Card Game History Black Jack is a very popular card game on any casino floor. Black Jack is a relatively simple game to play. In a single or double deck game, the dealer shuffles a deck of playing cards and one player cuts the deck. Before the first card is dealt, the dealer will 'burn' (discard) the top card and then begin to deal one card at a time per player (including themselves) starting from their left. Each player sitting at the table gets dealt a total of 2 cards face down. The dealer's second card (at most tables) will be dealt face up. The object of the game is to get a total sum of 21 (an Ace with a Ten or Face card) or as close to 21 as possible without 'busting' (going over 21). If the player's hand is not that high, they can opt to 'hit' (request an additional card or cards), or 'stay' (keep the hand that they have). If a player is dealt a sum of 10 or 11, they may also opt to 'double down' (place their hand face up and double their wager). When a player 'doubles down', they are dealt only one more card faced down. Since Black Jack is played against the dealer; the player's goal is to achieve a higher hand than the dealer. To keep the game going smoothly small number counting skills should be exercised. Not only is Black Jack popular in casinos, it is also a popular card game to play at home with your family and friends, on a hand held game, at an online casino, or even using software on your computer. Playing for fun chips can help to enhance your strategy, betting and counting skills. Black Jack is played using a deck(s) of playing cards. A single deck of playing cards consists of 52 cards. This doesn't count the 2 Jokers that are normally included since Jokers are not used in Black Jack. It is believed that playing cards were invented in China around 900 A.D. when the Chinese began shuffling paper money into various combinations. The decks of cards used today were originally referred to as the "French Pack". It is simply amazing as to the various games that have already been invented and played using a deck of playing cards. The game of Black Jack was probably derived from other French games such as "Chemin de Fer" and "French Ferme" which translates to something like "Iron Way" and "Firm French". Black Jack itself originated in French casinos around 1700. In French it is called "Vingt-et-Un" which translates to "Twenty-and-A". The name Black Jack was fitting because if a player got a Jack of Spades and an Ace of Spades as the first two cards dealt to them, the player won an additional amount. Black Jack has been a popular game in the United States since the 1800's and continues to be popular today. In 1956, Roger Baldwin wrote "The Optimum Strategy in Blackjack". This paper was published in the Journal of the American Statistical Association. It was the first recognized effort to apply mathematics to Black Jack. Using probability, statistics and calculators, Baldwin wrote of different ways to substantially reduce the house advantage. This paper consisted of 10 fairly mathematical pages. Although entitled "Optimum Strategy", the theory still needed a computer to refine the system, thus making it not such an "Optimum Strategy" during it's time. In 1962, picking up where Baldwin left off, Professor Edward O. Thorp (sometimes referred to as "The Einstein of Black Jack") refined the basic strategy and developed the first card counting techniques. In 1963, he published his techniques in a book called "Beat the Dealer". This book became so popular for a week that it made the New York Times 'Best Seller' list. Casinos were so affected by "Beat the Dealer" that they began to change the game rules unfavorably, making it more difficult for players to win. This resulted in a loss of income, thus forcing the casinos to revert back to the original rules. However, the casinos made further changes to increase their odds. Casinos introduced multiple decks, card shuffling machines, frequent shuffling (when not necessary), and other changes. These changes and the fact that Thorp's "Ten Count" system was not very easy to understand, let alone master, once again restored the edge to acceptable odds for the casino. Stanford Wong continued to be the guru of Black Jack, picking up the torch from Thorp. His book, "Professional Blackjack", distills extensive computer simulation and is a bible to both beginner and expert players. Julian Braun, an IBM employee (at that time), was also a major contributor to Black Jack history. Using thousands of lines of computer code and hours of simulation on IBM mainframes, Braun came up with the basic strategy and a number of techniques for counting cards. The second edition of "Beat the Dealer" used his conclusions, as did "Playing Black Jack as a Business" by Lawrence Revere. In 1977, five computers were built into the shoes of Ken Uston's playing team. This team won over a hundred thousand dollars in a very short time as they had predicted. However, one of the computers was confiscated and handed over to the FBI. The computer used public information on Black Jack, so the FBI had decided that it was not a cheating device. In 1981, Sixty-Minutes featured Ken on their show and helped lead a successful and legal challenge to prevent casinos in Atlantic City from barring card counters. Ken's book, "The Big Player", details this story about his Black Jack exploits. Black Jack became even more popular after the Academy award winning movie "Rain Man" starring Tom Cruise and Dustin Hoffman. Hoffman played the autistic brother of Cruise, a failing exotic car dealer. Realizing that his autistic brother has the ability to memorize the cards, Cruise takes him to Las Vegas and uses his skills to get him out of his financial difficulties. Of course, this was only a movie and we all know that movies are not always what they're cracked up to be. Memorizing cards (as depicted in the movie) is not the same as 'card counting'. Nonetheless, several players rushed out to learn/refine their skills and get to the Black Jack tables. I was amongst that group of players. Remembering parts of what I had seen in "Rain Man", I got a little excited to give Black Jack a try. I watched a video about how to play Black Jack. In this video, I saw the chart below. I proceeded to memorize the chart for my upcoming excursion to Reno. As you can see, the chart below isn't about counting cards. Maybe counting cards is integrated into the making of the chart, but being a very amateur player, I saw it merely an easy to memorize assistant. Having memorized it, practicing at home with a single deck of cards and playing on a handheld video game, my confidence grew and I felt that I was ready to give it a try when I reached Reno.
Friday, September 22, 2006
sports book
sports book A sportsbook (sometimes abbreviated as book) or a race and sports book is a place where a gambler can wager on various sports competitions, including golf, football, basketball, baseball, hockey, soccer, horse racing and boxing. The method of betting varies with the sport and the type of game. The more prominent the event, the more wagering options that are made available. Winning bets are paid when the event finishes, or if not finished, when played long enough to becomes official; otherwise all bets are returned. This policy can cause some confusion since there can be a difference between what the sportsbook considers official and what the sports league consider official. Customers should carefully read the sportsbook rules before placing their bets. The betting volume at sportsbooks varies throughout the year. Bettors have more interest in certain types of sports and increase the money wagered when those sports are in season. Likewise the interest in sports varies by country since the level of interest in the various sports is not constant the world over. Some major sporting events that don't follow a specific schedule, like boxing, can create peaks of activity for the sportsbooks. Odds In the mid 1930s, Leo Hirschfield started a company in Minneapolis, Minnesota called Athletic Publications, Inc., that published and distributed odds to bookies across the country by telephone and telegraph. He had a team of handicappers analyzing the matchups who also studied newspapers across the country. The company was a major provider of odds and prices until it finally disbanded, under fear of prosecution from the Federal Wire Act of 1961. Today most sportsbooks get their opening prices from other sportsbooks as well as private companies like Las Vegas Sports Consultants. They adjust prices based on the bets coming in, news, injury, and weather information, and the price movement by other sportsbooks. Nevada sportsbooks Today there are roughly 150 licensed sportsbooks in the United States, all located in Nevada casinos. Now that many casinos share the same parent company, they offer the exact same wagering choices and odds, which is a disadvantage to the astute gambler who in the past could do more shopping for better prices. In the 1950s the first Nevada sportsbooks, called turf clubs, opened. They were independent from the casinos, and had an informal agreement with the hotels that they would stay out of the casino business as long as the hotels stayed out of the sportsbook business. The sportsbooks had to pay a 10% tax so they charged a high vigorish to gamblers, but they still brought in a lot of business. In 1974 the tax was lowered to 2%, (and in 1983 lowered to 0.25%), and in 1975 Lefty Rosenthal, who ran the Stardust Casino, convinced legislators to allow them in the casinos, and soon nearly all of the casinos added them. The turf clubs were no longer able to compete and eventually all closed. In Nevada casino sportsbooks you will find: Betting Windows Numerous big screen televisions Places to sit and watch Interactive betting stations Odds boards, usually computerized Internet sportsbooks While internet sportsbooks lack face-to-face transactions, they can handle more customers than land based sportsbooks and operate more cost effectively. They pass lower costs on to customers in the form of reduced vigorish (cheaper prices) or bonus incentives. They can also offer similar products, such as casino games, bingo, and poker to their existing clients. While Internet sportsbooks take bets online, normally they are licensed in some jurisdiction. Taxation and regulation vary greatly by country. Internet sportsbooks range from fraudulent operations with no intention of paying their customers to multi-billion dollar publicly traded companies. Internet sportsbooks range in focus, as some primarily cater to American sports, while others focus on European soccer. Some sportsbooks handle large wagers while others have low wagering limits. Some offer many exotic proposition wagers, where others have limited choices. Payment methods are not universally accepted at all sportsbooks. Costa Rica is home to a large number of offshore sportsbooks, as it caters to many of the needs of the industry with an open regulatory environment and a large, capable workforce. A number of sportsbooks are also located in Jamaica, Gibraltar, Antigua, CuraƧao, Australia, and many other countries around the world. The United States Justice Department claims that wagering at offshore sportsbooks is a violation of the 1961 Federal Wire Act. Jeffrey Trauman of Harwood, North Dakota, was the first player ever to be prosecuted for online sports betting in the United States. The former car salesman, who quit his job to become a professional gambler, was cited under a North Dakota state law. http://www.enterbet.com
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