The Really Big Picture
Well, why not talk about the “REALLY BIG PICTURE” so we can get to the heart of all casino gambling and to why the Benson Systems work over the long run.
For the moment, I want you to forget any particular game in the casino. Instead, I want you to focus on the most basic premise of all casino gambling: THE FOUR RESULTS OF PLAYING. It doesn’t make a difference if you are playing carps, blackjack, roulette or baccarat. By the very nature of casino gambling these four results exist in each of these games.
They are: 1) A player can end up losing a lot of money. 2) A player can end up losing a little or moderate amount of money. 3) A player can end up winning a little or moderate amount of money. 4) A player can end up winning a lot of money.
Okay, since there are four possible combinations to wining and losing, let’s see what happens if we allow ourselves to play out of all four of these situations. Well, we see that two of the possible four results are losing situations and two of the four are winning situations. Therefore, if a player gambles out of all four of these results, he must win on average at least two out of these four situations to beat the casino in the long run. That means he must win 51% on the average — considering his big winds and big losses are about the same — to end up ahead. That is the average winning percent rate a player must achieve if he is to win under all four of these results.
But look what happens if we totally eliminate result number one from our casino play: that a player can end up losing a lot of money. Now we have only three results form our playing session and, more importantly, two of these results are winning situations! Just result number two is a loser and not a big one at that.
Now follow me on this and you are not going to believe what happened mathematically. If a player gambles with these three results only, he does not have to win 51% on the average to find himself ahead! In fact, the player’s average win rate can be well below 50% and still find himself making a killing.
Think about it. Since only one of the three results is a small loser — and two of the three situations are winners- it doesn’t take a Ph.D. in mathematics to figure out that one or two big winds every five or ten sessions can easily put the player ahead.
That’s why we have been truly impressed with a player’s average winds if he does not have this three-result money management. A player could have a 99% average win rate but if his one or two losses are not bounded by conditions of money management, he could easily find himself behind. Think about it. Til next time.