Online. According to press releases, the Indian Poker Network is becoming more successful and has recently welcomed PokerLion to its ranks. PokerLion is owned by Stuti Hardware. The online poker site that was launched on the Indian Poker Network provides all top poker variants for mobile devices as well as desktops. The online poker room is now powered by the award-winning software of Microgaming. Players have access to features, games and promotions daily.
Indiana. A casino abutting the Ohio River in Southern Indiana, recently found itself nearly IN the river. The Horseshoe Southern Indiana saw its parking lot inundated and rising waters of the river lap at its doors. The property, located 10 miles downstream from Louisville, KY, has had to halt its operations nearly half a dozen times in recent years due to Ohio River flooding.
California. U.S.-based casino operator Penn National Gaming Incorporated says it will no longer maintain a relationship, in the form of contract management, with the Hollywood Casino Jamul San Diego. Nor will it supply the southern California tribal casino with “branding and development services” after the end of May. The Hollywood Casino Jamul San Diego opened on tribal land about 20 miles east of downtown San Diego in October of 2016.
Louisiana. A planned takeover of the Isle of Capri Casino Hotel Lake Charles, LA, by the Laguna Development Corporation (the economic development arm of New Mexico Native American tribe Laguna Pueblo) has failed. According to an Albuquerque newspaper, the group says it had signed a purchase agreement to acquire the Isle of Capri Casino Hotel Lake Charles for $134.5 million. Apparently, the takeover was not completed before a pre-set time frame expired.
Macau. New reports show that the Macau Peninsula, sometimes referred to as the City of Macau, is home to some of the most impressive casinos in the world as well as some of the oldest and most iconic in the region. The traditional focus has been on gaming and venues that support the gaming experience, such as shows, restaurants, and lounges. Event space is also included in this definition. Many tourists coming to Macau say they love the colorful characters in the area.
Japan. International press reports state that businessman Kazuo Okada has reacted to the recent signing of a $2.4-billion settlement deal between Wynn Resorts Limited and Universal Entertainment Corporation. He says that the agreement is proof of his “innocence” regarding bribery allegations. According to the outlet GGRAsian, Okada stated that he had not been consulted about the settlement agreement. The actions stem from a deal inked in 2010.
Many players use the Martingale betting system for blackjack (and other casino games). The reason is the betting system is easy to use and seems logical. You just double your bet after every loss until you finally win, at which point you will be ahead by one betting unit. For example, suppose you wager $10 and the results of the next three hands are loss, loss, and win (L-L-W). Using the Martingale system, you lost $10 on the first hand, $20 on the second hand, and won $40 on the third hand. You wind up with a net win of $10, which is the goal of the progression, to win an amount equal to your starting wager.
How can there be anything wrong with the logic of the Martingale? Just leave the table after a win and you always walk away with a profit. Right? Well, yes and no. Long streaks of consecutive losses will doom the Martingale player, but pundits will always counter with “the chance that this will happen is slim.” Really? Let’s take a look.
You have about a 52 percent chance of losing a hand in blackjack (excluding ties). The chance that you will lose, say, ten consecutive (resolved) hands is 0.145 percent, meaning you will average one sequence of ten losing hands (excluding ties) in about every 692 sequences of ten hands, and so, this losing streak will occur about once in every seven hours of play (assuming you play 100 resolved hands per hour). And get this…you don’t know when that string of ten consecutive losses will occur in the seven hours (of course, it may not occur at all). The math says that you have roughly a 12 percent chance of losing ten in a row in the first hour; a 24 percent in the first two hours; and a whopping 51 percent chance after only five hours (i.e., you are the favorite to have had at least one losing streak of 10 resolved hands!). Sadly for Martingale bettors, a streak of ten consecutive losses is not such a rare event after all.
What about all those frequent winning sessions that Martingale players (and system sellers) always tout about this system? The fact is this: although most players will walk away a small winner most of the time, the money you will lose in that one catastrophic losing session will more than completely wipe out all the money that you will win in your more frequent winning sessions. In the long run, your wins and losses will add up to the casino’s edge, and the amount of money that you will lose using the Martingale betting system will be close to the casino’s theoretical edge in the game, times the total amount of money that you wagered, the same as it is for every other player who plays blackjack (except card counters). In other words, mathematically speaking, you can’t, and you won’t, gain the advantage over the casino using a Martingale betting system.
There is another more practical issue with the Martingale that also dooms most players who use it, and it’s this: on an extended losing streak, you may not be able to double-up your bets because you will bump up against the maximum betting limit imposed by casinos. For example, suppose you are a $5 bettor and you lose eight (resolved) hands in a row. Your losses at this point total $1,275 (gulp!). Assuming you have the bankroll (and the guts) to double up again, your next wager according to the Martingale is $1,280, which exceeds the $1,000 table-betting limit (that you’ll find in most casinos on low-limit tables). Unfortunately, there is no way for the progressive bettor to bet enough to recoup his losses when this occurs (other than to move to a higher-limit table).
Henry Tamburin is the editor of Blackjack Insider Newsletter (www.bjinsider.com), Lead Instructor for the Golden Touch Blackjack Course (www.goldentouchblackjack.com), and host of www.smartgaming.com. For a FREE three-month subscription to his blackjack newsletter, go to www.bjinsider.com/freetrial.com. To receive his FREE Casino Gambling Catalog, call 1-888-353-3234 or visit www.smartgaming.com.
Lucky Lotto News: First-Time Lottery Group Scores A Win
North Dakota Co-Workers Win
An impromptu decision to buy Powerball tickets paid off big for a group of co-workers in Volga, North Dakota. Employees of the Lucky Dog Bar and Grill, along with friends and family, decided to pool their money and go in on a batch of Powerball tickets. The group of nineteen wound up splitting a handsome $50,000 prize. “It was the first time we’ve ever done it,” said Angela Tesch, one of the lucky winners. “One of the employees insisted that we get tickets, so everyone put in $2 about 45 minutes before the drawing.” Tesch said the group decided to buy the tickets because the Powerball prize had climbed so high. The group says they do not have huge plans for the prize, but may test their luck again on another Powerball in the future.
Kansas Player Wins Lotto Prizes Big and Small
Amanda Newton, of Solomon, Kansas, won a top prize of $20,000 for the second time in the state’s $2 Double Bonus Crossword instant scratch game. “I bought four tickets and gave two to my mom and kept two for myself,” Newton says. “My first ticket was a $2 winner, and then the last one I scratched was the big one!” Newton plans to pay a few bills and use the rest of the money to visit Yellowstone National Park with her husband and three sons.
Recent Retiree Scores Big in Arkansas
A man from Little Rock, Arkansas, won $390,000 in the state lottery, after purchasing a winning ticket at an area gas station. Robert Norwood Jr., 62, had the choice of getting either $25,000 a year for life or a lump sum of $390,000. He chose the lump sum prize. “I just retired; I may not be around in 20 years,” joked Norwood, who claimed the prize at lottery headquarters on his birthday. “I hope we’re on a roll,” his wife, Cecilia, said. Added Robert: “We’re still soaking it in…We haven’t touched the ground yet.”
Two Top Tickets Sold at Stores a Mile Apart
Two men each won $100,000 in recent Cash 5 drawings after purchasing their tickets at Alexandria, Virginia, convenience stores just one mile apart. Parking lot manager, Feleke Zergaw, of Washington, D.C., says he’ll save his prize for retirement after he bought his winning ticket at a convenience store. Brandon Pree, of Washington, D.C., used family birthday numbers on his lucky ticket, which he purchased five days later at another store in the same city. “The first thing I did was call my mother,” Pree said when claiming the prize. “She started screaming!”