Will gambling save Brazil’s economy?

The Copacabana Palace, a famous tourist spot in Rio de Janeiro, once had a casino that brought in $100 million per year—and this was way back in 1946. It was the last year casinos were legal, but other gambling outlets like horse raising and lotteries are still legal until this day. Brazil makes a total of $17 billion in gambling, according to The Financial Times. Casino-style gambling practices have been banned in the country for about 70 years. And if the Brazilian government approves the opening of these casinos from foreign operators, it would be considered as a significant event in the gaming history.

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Image source: money.cnn.com

The lower house and senate in Brazil are considering the legalization of gambling. Michel Temer, Brazil’s new president, has even supported the idea. Brazil’s minister of tourism, Henrique Alves, has projected that gambling could give the country up to 20 billion reais, or $6.1 billion in tax revenue annually.

Brazil is currently weathering tough financial times, and it is totally understandable why they want gambling to fill its global investments. While the idea was presented for the good of many, a lot of Brazilians think that this might be a sinkhole for corruption.

Will gambling save Brazil’s economy? I think, under the right leadership, it can bring financial gain to the country. If it’s for the common good, why not?

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Hi, I’m Lady Luck Tracy Luttrell. Know more about my life as a golden girl and my love for gambling when you follow me on Twitter.

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Why Are Slot Machines Addictive?

I like going to casinos, but I hate it when people stereotype people like me as gambling addicts. While gambling can be a good way to just veer off from the stress of our everyday lives, it can cause harm to those who have a hard time controlling themselves once they get in the “gaming zone.”

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A lot of people say that the slot machine is the least thing that can hurt a person who loves gambling. But little do they know that the slot machine is not much different from a black hole. Many researches on compulsive gambling focus on the biological, psychological, moral, and emotional problems of gambling addicts, but they disregard the fact that it’s not just the person’s fault.

Modern slot machines usually feature video screens with buttons. These devices generate ¾ of legalized gambling revenue. These bring in twice as much money as all the other games combined.

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People’s addiction to modern slots has something to do with the gamer’s wish to spend a moment alone. They do not worry about competition or excitement, but they focus on their personal gains. It’s easy for them to get lost in time and space because they do not think about who they’re playing with or what they’re playing for.

Industry leaders have designed bigger, better slot machines that will bring a huge influence to a customer’s behavior through technology or user design. They are building mousetraps that will give them more and leave the players with less money. It’s not solely the player’s fault for indulging. The machine definitely has something to do with the addiction, too.

Lady Luck Tracy Luttrell here. Know more about gambling and my life as a golden girl when you visit this blog.

On Bankroll Management: Why You Should Know How Wagers Behave

Proper bankroll management is a necessary but often overlooked skill in gambling. Players sometimes get too excited about placing bets on promising games that they forget to control their money. More often than not, they do not have sufficient knowledge of wager behavior.

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Image source: telegraph.co.uk

In general, there are two factors that matter most in bankroll management: the house edge and the volatility of the game. In various games, particularly high-level blackjack or poker, payout rates can soar to as high as 99 percent and the house edge (casino profit based on the percentage of the player’s original bet) can therefore be relatively low. The aforesaid games also have low volatility, which is the range between the high and low payouts on the game.

Lower house advantage allows for a more aggressive play as it demands higher profits once the game makes a winning. Volatility acts almost in the same fashion. Low volatility games have smaller differences between the higher and lower wins, allowing for frequent winning. In contrast, high volatility games often have one or two large payouts, but players often have slimmer chances of bagging the jackpot.

For both blackjack and video poker, the “300x rule” must be applied. This rule has it that players must only bet a total of 300 times regardless of the size of their bankroll. For example, if a player has a $600 bankroll, then he must not play with more than $2 per hand. In blackjack, bets can either be doubled or split (to increase the number of bets and lower the risk), and so the 400x base rule may be used instead (same principle, different amount).

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Hello, high rollers! I’m Tracy Luttrell, your granny who is fond of poker, blackjack, and slots. Let’s talk more on Twitter (yes, I do have one!).

The Casino lifestyle: Back betting

Every gambler knows the four important elements of gambling: your money, the game, the odds, and the house edge. “Veteran” players will know how and when to play a table. They don’t wait around but rather they scout tables looking for players who are inexperienced or arrogant. Like an eagle on to its prey, they swoop in and go for the kill, in this case their money. Of course whenever there are other predators (veteran players), there will always be the scavengers (back betters). Back betters are the kind of gamblers who are either desperate for money due to losing or people who do it for sport. They do not bet on the odds of the game, but a player’s odds of winning. Hence, the players bet their money on the table and the back betters bet on the players.

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To start a back bet, scout for table games such as roulette, craps, baccarat and blackjack, ask the dealers if back betting is allowed, and then bet on the player you think will have a good chance of winning. While most tables allow back betting, some casinos discourage it because they won’t get a house edge out of it, meaning they won’t get that extra 50 cents you pay whenever you get a win. Much like playing on the table yourself, back betting can reel in some good money, but your odds of winning would be the same odds your player has. For a better chance of winning, scout around for veteran players. Although your chances of winning are increased by little, that small window has a remarkable yield.

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As always, be careful on who and where you bet, playing or back betting can and will still make you lose money. Losing is inevitable, hence the phrase “the house always wins.” The best way to earn a little cash on the side is to take it slow and leave when you have approximately 1.5 times your initial money. And of course, leave when you have double your money and start fresh with your initial money. There is no system that will lead to a sure win in back betting, but training yourself to control your money is a great way to earn fast and safely.

Hello there! My name is Tracy Luttrell, avid casino player. Join me in my travels to the many casinos in the country, and visit my Twitter page for a peek of my adventures.