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According to the National Council for Responsible Gambling, over 75% of college students gamble each year. So most college students know how to gamble already, or they learn how really fast.
Mind, Body and Sport: Gambling among student-athletes. In this role, he directs the NCAA’s national portfolio of studies on the academic trajectories of college student-athletes and oversees the NCAA’s data collections and research initiatives pertaining to the academic, athletic, social, and personal well-being of current and former. College students online gambling. Linking up your Club Passport and My Riverwind accounts is a quick way to look at your rewards, tier status and more at Riverwind Casino. College students online gambling. Imagine, for example, that at college students online gambling the first three starts of roulette red turns up every time.
Of course, they define college gambling as any of the following activities:
- Casino games
- Lottery games
- Poker
- Sports betting
And, of course, all these activities DO constitute gambling if they involve risking money in the hopes of winning money.
Sites like the one above are concerned mostly with discouraging people from gambling at all. Some of them are more concerned with helping people with impulse control issues recognize problem gambling and get help for it.
There’s nothing wrong with that, either.
But for someone like me, the goal is to say, hey, if you’re going to gamble anyway, you might as well learn how to win—or at least get the maximum amount of entertainment for your gambling dollar.
And that’s the point of this post about how to gamble if you’re a college student.
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If you ARE going to gamble anyway, how can you get the best odds as a college student?
You’ll find the answer to that question (and several others) below:
8 million dollar slot machine. The odds vary based on which lottery games you’re playing, but if you’re trying to win one of the big games—like MegaMillions or Powerball—your odds are terrible. You’re more likely to be struck by lightning than to win either of those.
Smaller games, like Pick 3 or Pick 4, have marginally better odds of winning, but the payback percentage is just as atrocious.
What’s a “payback percentage,” by the way?
This is a concept you should familiarize yourself with early in your gambling career.
All bets have a mathematically expected value. Most of the time, that expected value is less than what you’re risking. For example, if you bet $1.00 on the lottery, your expected value is about 50 cents.
2 factors determine your expected value:
- Your probability of winning versus losing
- The amount you’ll win or lose
Here’s how that works:
If you bet $100 on a coin toss, and you win $100 if you guess right, the expected value of that bet is $100. It’s a break-even bet. You’ll win $100 half the time, and you’ll lose $100 half the time.
On the other hand, if you had to risk $110 to win $100 on that same game, your expected value would be lower. You’d win $100 half the time and lose $110 the other half the time, which means your expected value for that bet is 90 cents.
Since the expected value for that bet is lower than the amount you’re risking, you’re gambling with a disadvantage.
The payback percentage is just the amount of each bet that you expect to get back over time each time you play. It’s expressed as a percentage of your original bet.
For example, if you’re playing a game with a payback percentage of 50%, you’d expect to lose $50 every time you bet $100.
Most casino games have a payback percentage higher than 90%. In fact, most able games are at 95% or higher, and the best games have payback percentages north of 98%.
All of this adds up to reasons for avoiding the lottery. The payback percentage is just awful.
If you’re going to ignore my advice and play the lottery anyway, you should stick with the scratch-off tickets. They have the highest payback percentage, especially if you avoid trademarked games and licensed properties. You should also play for the highest denomination possible.
The payback percentage for these games still tops out at 65%, which mean that you’ll lose an average of 35 cents on every dollar you spend in the long run.
You can (and should) do better.
Also, I know that I said you can probably play the lottery in most states, the legal age for participating in the lottery varies. In some states, you must be 18 or older, but in other states, you must be 21 or older. In no states are you allowed to play the lottery if you’re younger than 18 years old.
You should avoid online lottery games run by offshore companies.
And if you play state-run lottery games, budget your lottery expenditures and keep it within reason.
3 – How to Play Poker as a College Student
This was the big gambling activity in my dorm in college. A bunch of my friends on the wing played poker on a near-constant basis. Large amounts of money were changing hands, too.
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My guess is that you can ask around to find an existing college student poker game without much trouble. Most college students play for lower stakes than some career people are used to, but that doesn’t mean you have to lack action as a poker player.
Of course, most casinos also have cardrooms on-site. College students who are legally old enough to gamble in that state and who can afford the buy-in can play poker just like anyone else.
I don’t recommend online poker for real money for college students unless you’re really serious about the game.
Poker, though, is probably the best gambling activity for most college students. You can even find underground neighborhood games to participate in. You’re probably better off starting with your fellow students.
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As with any of the other gambling activities on this list, you should only play poker with money you can afford to lose.
5 – Gambling Bankrolls for College Age Gamblers
What many college gamblers don’t realize is that you need a bankroll to gamble with. A bankroll is just an amount of money you’ve set aside for the purposes of gambling.
The trick is to only gamble with money you don’t need for something else.
I’m of the opinion that if you’re deep in debt with student loans, you can’t afford to gamble.
I’m also of the opinion that if your parents are paying your room and board, you should limit your gambling bankroll to small amounts. I’m sure your parents understand that you need an entertainment budget.
The problem is that your entertainment budget for gambling activities shouldn’t be much more than if you were an avid reader or moviegoer.
Wheel of fortune bankrupt sound. Many (if not most) college gamblers wager more than is reasonable for someone in their financial position.
Don’t make this mistake.
Budget your gambling activities appropriately, and never assume that you’re going to win.
College Sports GamblingWhat does this mean for a college student with a gambling hobby?It means that if you’re behind on your schoolwork, you shouldn’t be gambling. You shouldn’t be sitting in the movie theater watching a movie if you’re behind on a term paper.You also shouldn’t be sitting at a poker table calling someone’s bluff in that situation.As long as you’re keeping your schoolwork a priority, you’ll be fine.College Football Gambling SitesYou might be tempted to think that problem gambling isn’t as serious a problem as substance abuse.I’m here to tell you that it can be just as devastating to your life as alcohol or drugs.If you think you have a problem, take steps toward solving it, and don’t delay.Gambling Among College StudentsDon’t gamble with money you can’t afford to lose, and get help sooner rather than later if your gambling becomes a problem.Gambling College Football
If you’re a college student thinking about a gambling activity, which kind of gambling are you interested in and why?
You might be tempted to think that problem gambling isn’t as serious a problem as substance abuse.
I’m here to tell you that it can be just as devastating to your life as alcohol or drugs.
If you think you have a problem, take steps toward solving it, and don’t delay.