{"id":5473,"date":"2020-10-22T14:57:06","date_gmt":"2020-10-22T14:57:06","guid":{"rendered":"https:\/\/www.bettingwebsites.org.uk\/?page_id=5473"},"modified":"2023-08-21T12:20:21","modified_gmt":"2023-08-21T12:20:21","slug":"low-stakes-vs-high-stakes-betting","status":"publish","type":"page","link":"https:\/\/www.bettingwebsites.org.uk\/articles\/casino-guides\/low-stakes-vs-high-stakes-betting\/","title":{"rendered":"Low Stakes vs High Stakes Betting"},"content":{"rendered":"
When it comes to the online gambling industry, one of the most attractive elements, mainly for those who are new to it is that they are able to play most of the games for free. What this does is allow them to get a feel for the game and how to play it without staking anything until they feel comfortable with the rules.<\/p>\n
However, every player, regardless of the ability or skill level will have different playing styles and one of these elements relates to the amount of money that they are comfortable staking, based on their level of risk, though also the type of game that they are playing.\u00a0 Although playing for free can be fun, it will not by any means at all make any difference to your bankroll. Let\u2019s explore this in a bit more detail and look at the various games and styles that people use in their gambling behaviour and ultimately ask is there a difference between how low stakes and high stakes customers play.<\/p>\n
Those who have a leaning towards playing high stakes games or those who gamble larger amounts of money are referred to as \u2018high rollers\u2019, which is a term that has been coined in the industry for some time. What you will find is often the case is that all major casinos will offer each casino game (blackjack, roulette, poker etc) in different classifications; low stakes and high stakes. In a low stakes game, the minimum bet will be of a lower value compared to being of a higher value in a high stakes game.<\/p>\n
Some of the time, you can tell the difference between the two, especially in land-based casinos, however not always because it is easy to get drawn into the stereotypical assumption that a high roller will arrive in a limousine, dressed in a tuxedo when they might just be enjoying a special night out. Especially in resorts like Las Vegas, which is predominantly full of tourists making the most of the \u2018must do\u2019 things.<\/p>\n
It goes without saying that if you are playing a high stakes game of blackjack for example, that you will need a considerably large bankroll, especially if it is for 100 coins every hand with a minimum payout of 200 coins.<\/p>\n
This can really eat into your budget, which means that you really need to know what you are doing and also understand how the game(s) work, particularly from a house edge<\/a> perspective.\u00a0 Below we\u2019ve included examples of each casino game and the intricacies that are involved, especially from a more technical angle.<\/p>\n One of the most important things to consider when it comes to blackjack (as briefly referred to) is the house edge, which when it comes to payout and the stakes involved can be a big factor.<\/p>\n What many players do not realise (or those pretending to be high rollers in land based casinos for example), is that in blackjack, the house edge slightly favours the dealer (0.39 percent for European Blackjack – each variant differs slightly) due to the fact that they play their hand last, which means that they have seen how the game has unfolded.<\/p>\n For high rollers, this can be particularly nervy (though some may enjoy the adrenaline rush if their hand hasn\u2019t already gone bust), due to the fact that they can lose a considerable amount in the space of minutes. Should they win though, the rewards are potentially huge and as a result (as many gamblers do) might realise that \u2018luck\u2019, or the pattern of play is on their side, raise their stake for the next hand because of this.<\/p>\n Those who gamble low stakes, despite the game\u2019s disadvantage obviously have less to lose and because they are playing at such a level, they might be playing the long game and have a strategy in place, rather than using a style that some might consider reckless.<\/p>\n Interestingly, a study by Towards Data Science, which analysed 1,000 rounds of blackjack hands with three participants, including the dealer and using six decks of cards yielded some intriguing results.<\/p>\n It was found that after 1,000 rounds that the average loss was $8.34 when every bet was $1 (low stakes) and as a result the house edge using this strategy for the investigation was determined to be at 0.834 percent. This data was also based on a round of blackjack lasting one minute on average, while the player over a three hour period would lose an average of $1.15 while wagering $1 per round. It was also found that the cumulative 5 percent quantile for loss was worked out to be $26.50.<\/p>\n What could be ultimately ascertained from this study was that if you go to the casino with 26 times your wagering amount, it meant that you would have less than five percent chance of going bust at the end of a three hour session playing blackjack.<\/p>\n A quantile refers to a data sample from the study in this case, being divided into equal sized subsets so that you can work out the overall probability distribution, to then divide this into equal probability for the different subsets of the sample. Using this investigation, that figure was worked out to be 5 percent based on the workings out of the total numbers from the study.<\/p>\n Ultimately, there are a number of variables to take into account here when you relate it to the aforementioned investigation. Firstly, Blackjack at the end of the day, is gambling and anything can happen. How events occur in one game might be completely different to another and secondly, the figures could differ if the number of rounds were lower or higher. In addition, the number of decks of cards used may also likely have some sway and also how they are shuffled.<\/p>\n While this is just one, albeit quite informative study which zeros in on exact variables, this number may differ if it was done again and also if you tweaked the variables slightly (more\/less decks of cards), which means the figures and also the resulting quantile might be different.<\/p>\n Furthermore, it also means that you are not at all guaranteed of only having a 5 percent chance of going bust if you go into a casino to play blackjack with 26 times your wagering amount per round; it is merely an illustration from this study based on the results that it yielded. However, based on how blackjack works and taking into account the house edge, the player (if they understand the game, how it works and apply cautious strategy) still has a good chance of working the numbers in their favour. It is afterall, regarded as one of the easier casino games to win at.<\/p>\n<\/div>\n A game that typically divides opinion among gamblers in terms of what kind of strategy that you use when it comes to the bets that they make, this also applies just as much to the size of the stakes that are made.<\/p>\n Roulette typically is a game that those with a high-risk attitude like, whether or not they are high rollers, because of the fact that on one bet you can double your money. The type of bet in question is the \u2018red or black\u2019 bet, where it has been known for gamblers to stake six figures on the spin of a wheel. While these types of bets are usually from high rollers, there are those who are also keen on the adrenaline rush as well.<\/p>\n The fact that roulette provides many different types of bets for players, suggests that these could invite lower stakes players, who apply caution and a more strategic approach to the game. In doing this, they would typically place larger amounts on lower risk bets and hedge these with lower amounts on higher risk bets.<\/p>\n Overall, it would then mean that they are still gambling low stakes, but splitting their bankroll more effectively (and perhaps sensibly?), rather than putting all of their eggs in one basket.<\/p>\n Because of how the different type of bets vary so much as well, it can make a lot of sense for low stakes gamblers to try out different scenarios with the minimum stake at first, just to get an idea of the frequency of where the ball lands on the wheel. However, it must be said, that roulette is completely random – no one knows what the outcome will be at all.<\/p>\n<\/div>\n Perhaps the ultimate game for many high stakes gamblers<\/a>, particularly those who like to test their wits against others. There are numerous, famous high stakes poker tournaments all over the world, played for between six and seven figures, while the most prestigious casinos have private rooms where there is a minimum entry requirement, often in the low to mid five figures.<\/p>\n Poker is a game which typically does invite high stakes individuals, who are naturally drawn to what they see as a game that allows them to test their wits against others. Because it is as much about being able to read your opponents as it is about the knowledge of the game, this means that when you are playing for high stakes, there can be a lot of egos involved. This is especially true for those who believe that they can bluff their way through certain scenarios and hands.<\/p>\nBlackjack<\/h3>\n
Roulette<\/h3>\n
Poker<\/h3>\n