I recently completed a post about the 6 best gambling options if you want to win, so I decided to do a post about the 6 worst options. The gambling options listed in this post are so bad that they should be outlawed.
If you want to win as a gambler you need to stop doing things that give you no chance to win. The options in this post give you such a low chance to win that you might as well rob a bank. You have a better chance of getting away with being a thief. Of course, I don’t really recommend doing that, because jail isn’t where you want to be.
Here are the 6 worst gambling option that you need to stay away from.
1 – Lottery Games
Lottery games might be the most popular gambling option in the world. Every day millions of people buy lottery tickets and hope they win millions of dollars. And every day over 99% of these people lose all of the money they bet on lottery games.
Every lottery game is designed to win as much money from gamblers as possible. Most lottery games lure gamblers in with the promise of big wins for just a dollar or 2 in risk. This is too hard to resist for many gamblers, and this is why lottery games are so popular.
But you need to consider the returns of every gambling option as a percentage of the money you’re betting. Lottery games almost always offer returns of less than 50%. To put this in perspective, most blackjack games offer returns of 98% or higher, even if you’re not a good player.
The only thing that most lottery games have going for them is that they’re inexpensive to play. But this doesn’t change the fact that lottery games aren’t designed in a way that gives you a realistic opportunity to win.
In other words, there’s nothing you can do to change the odds when you play lottery games, and the odds are always bad.
2 – Keno Games
Keno games are a lot like lottery games, but they don’t have top prizes that are as big, and the overall return is better. But keno games are still some of the worst options when you gamble.
When you play keno it’s like a cross between the lottery and bingo. Keno games used to use balls that were like bingo balls to draw winning numbers from a group of balls. Almost all keno games now, even the ones you play in land based casinos, are run electronically.
You make a bet, which in most places can be as low as $1, and pick some numbers. When the numbers get drawn, if your numbers are the same as some in the numbers that are drawn you win.
Some keno games have prizes of as much as $100,000. Even low level keno games usually have a top prize of at least $10,000. This makes it look pretty good when you’re only betting $1.
The problem is that the return on keno games is almost always less than 75%, with some games at 65% and under. While these numbers aren’t as bad as the lottery returns, they’re still worse than almost every other gambling option.
3 – Slots Games
In the first 2 section you learned that you need to consider the return percentages of your gambling options. Slot machines usually have an average return of around 90%. Some machines are better and some are worse, but the overall range tends to fall somewhere between 85% and 95%.
This sounds a lot better than lottery games and keno games, and it is better. But the problem is that it’s still bad, and you usually bet a lot more over the same period of time playing slots games than when you play lottery games or keno games.
What this means is that even though slots games have better returns, you’re still probably going to lose more money.
If you bet $1.50 per spin and play 100 spins in an hour you bet $150. If the return is 90% you lose $15. Many gamblers don’t spend a total of $15 on lottery tickets every week.
In addition to the problems listed in this section, the other issue is that there are many games in casinos that offer higher returns than slots games. About the only game in casinos that’s worse is keno.
4 – 00 Roulette Games
Roulette games have a higher return than all lottery and keno games, and also have a higher return than almost all slots games. But this doesn’t mean they give you much of a chance to win. And 1 type of roulette game is worse than most of the others.
Roulette games that have a 00, or double zero, space have a return that falls between 94% and 95%. Compare this to roulette games that don’t have a 00 space, which have returns over 97%. This is why you can’t play any roulette game that has the dreaded 00 space.
But 00 roulette isn’t even the worst roulette game offered by casinos. While these tables aren’t very popular, you can find roulette games that have a 000 space. The return on these games is even lower.
Just about any other table game offered in casinos has higher returns than 00 or 000 roulette. Blackjack is usually the absolute best choice, but baccarat and craps also have good bet options that are much better than any bet at the roulette table.
5 – Parlay Sports Betting Tickets
Sports betting is on the list I made of the top 6 gambling options if you want to win. But there’s a particular type of sports bet that you can never afford to make. This type of wager is called a parlay.
A parlay sports wager is when you bet on 2 or more games and have to win all of the games you bet on in order to win the bet. You get a bigger win than you can get making a straight wager; so many people make these types of bets.
The problem is that it’s almost impossible to make a long term profit making parlay wagers. The sportsbooks know that the odds of winning 2 or more games is low, so they can afford to offer what looks like better pay outs on parlay wagers.
The first thing you need to understand about sportsbooks is that they never offer bets that they lose money on in the long run. If a return looks too good to be true, like the pay outs on parlay bets, then it is too good to be true. If you want to bet on sports, stop using parlay wagers.
6 – Pull Tabs
Pull tabs are popular in some areas, with bar being the most common place to find them. Pull tabs get their name because you pull a tab on a card, usually made of cardboard, to see if you win money.
Here’s how a batch of pull tab tickets work. The place offering the pull tabs buys a group of 100, or 500, or 1,000 pull tabs. The total of all the prizes are $50, $250, and $500. These numbers aren’t the same for all pull tab pools, but this gives you an idea.
They charge $1 per pull tab, so the business is keeping half of all the money they sell the pull tabs for after paying out all of the winners. This puts pull tabs somewhere between lottery games and keno games when it comes to the return numbers.
Even though the overall return is bad, there is a way to win a little with pull tabs. I used to work with a guy that spent hours at a bar that offered pull tabs. He watched all of the pull tabs being sold and if the largest prize wasn’t hit when most of the tabs got sold he bought all the remaining pull tabs.
He usually made a little money with this system, but he wasted hours waiting for this chance.
The simple fact is that if you want to win when you gamble you can’t afford to consider some options. The 6 gambling options listed in this post are all terrible. In fact, unless you get extremely lucky,, there’s no way you can win over the long term when you play any of these options.
Lottery games and keno games have such a large edge for the house that you’re usually giving away 25% or more of every $1 you bet. This means that for every $100 you risk you’re going to lose at least $25, and usually you lose a lot more.
Slots games and roulette games with a 00 space aren’t quite as bad, but you still end up losing most of the money you start with. Pull tabs are a lot like lottery games, but there’s no big jackpot if you get lucky. And parlay sports betting tickets are only making money for the sportsbooks.