The Truth Behind The Limits: What Minimum and Maximum Bets Are About
Have you ever thought about the reason behind the existence of minimum and maximum bets? The truth is simple: casinos want your money. As simple as that. So they restrict your possibilities to win.
It was in 1654 that Antoine Chevalier de Mere asked Pascal why he usually lost when he bet even money that are double, 6 would show up at least once in 24 rolls of two dice. Pascal demonstrated that 24 rolls would be against the gambler, but 25 rolls would be slightly in his favor.
Pascal solved the question, and sent the solution to Pierre Fermat and Christian Huygens. The science known as Probability Theory was born. Up to then gambling odds were found by trial and error. Pascal, however, was able to calculate the odds of chance in a scientific way.
But if one knows the odds he can find the way to trick them. Since that time people also began developing the schemes to beat the system. A good deal of the systems is build around increasing each consecutive bet as anticipation of winning grows, known as martingale systems. So gambling establishment elaborated a simple method shut out a game transformation in to jump with bets, where a resource-sufficient player was practically "doomed" on winning. Maximum bet has its limits.
In any world casino each table, be that roulette, blackjack or poker, features signs clearly defining minimum and maximum rate of bets on a given table. A difference between them can be in 10, 30 or even in 100 times. But nowhere to you will be allowed to multiply your bets without restriction.
Please pay attention, that the very existence of maximum bet limits proves that a system, founded on bets augmentation principle, threatens the success of the casino. Take any table in regular or even on-line casino. For example the one, on which minimum bet is $25, and maximum one is $1000. Why do you think you are not allowed to bet more than $1000 at once? Do you believe they won't have money to pay out? Or do they fear, that you will win and take your money home? But in VIP-halls of the same casino you can make a bet of $2000 or even $10000! And if you have specially requests you try negotiating with the administration to satisfy them. Most casinos have more than enough resources to meet any bet of yours.
The deal is about the correlation of maximum and minimum bets. So, in case the maximum is set at a $10000, the minimum bet will rarely be less than $250. The idea is to limit your double bets to certain number of times depending on the game. Usually you want be able to double more than 5 times. Otherwise your odd of winning become impermissible high.
In the Eighteenth century, Jacomo Casanova hit upon a method to win at gambling. Each time he lost, he would redouble his bet until he won. In letters he wrote to the friends, he discusses how his martingale system would guarantee his win every time. And mere two days later, he wrote a letter from prison. The scheme had failed -- and series of losses overcame his funds, and he was now in debt. In 1755, after suffering ruinous gambling losses and participating in various illegitimate dealings, Casanova was denounced by the Venetian State Inquisitors and imprisoned beneath the lead roofs of the Venetian Ducal Palace, in place known as the "Leads".