3 Out Method in Casino Gambling

By Wild Bill

For some casino players chasing is like breathing.  They live for the chase and no amount of instruction or exhortation to stop chasing will work.  For these players a plan has to be created which leaves in some of the chase, but gives it some order.  If the chasers don't create order to their gambling they end up in the same place over and over: broke and looking for another gambling stake.

The best chasing method I have seen is what I call the “three-out method”.  This method works on the premise that players will have a number of three bet winning streaks.  As long as the player occasionally wins two or three bets in a row they will stay in the game and often get out of a hole before going bust.

Don't get me wrong, as with any money management method the three-out doesn't change the odds of the game. Money management in games where the gambler faces the worst of it from an odds perspective can only accomplish some objectives, but cannot be expected to create a long-term winner. If you want to be a long-term winner you have to play a beatable game and play it well.

The reason this method is suggested to habitual chasers is because the chaser tends to lose all sense of reality when gambling, only coming to his senses when he is either broke or close to it.  This easy to learn method helps keep some grip on reality and gives clear signals when it is time to leave a game or a table, while still giving the chance to get ahead after falling behind.  No matter what method is used if the only bet sizing method is based on emotion and seat-of-the-pants intuition big losses are always possible.

The three-out works well for chasers taking a “shot” at a casino.  They are heading to Vegas for a weekend or driving to a local casino for the day.  With modifications it can be used it on a more regular basis and works well for online play.  It can be used with any game, with some modifications needed.

The three-out method is simple to put in practice.  First the player determines his bankroll, money he is willing to lose.  If the player is taking a one-time shot, he should take what he is willing to risk and break that amount in half, giving two shots at winning before it is time to get out.  This half-bankroll now gets divided by seven.  This amount is the maximum the player should lose at the table.  Then take that amount and divide it by 12; this becomes the first bet size.

For example if a player has $800 to take with him, he has two $400 bankrolls to work with.  At each table he risks $57 (which can be rounded up to $60) and then dividing by 12, his bet size begins at $5.  Note rounding a bit is fine unless everything goes completely wrong as there will be some small winnings along the way which can cover rounding differences.  

Once the bankroll is calculated and the first bet size is determined the player is ready to consider what game he is going to play and what modifications are needed for each game he plans on playing while in the casino.  In my next article I will give more specifics as to how to use the three-out method at the table and how to modify it for each game offered in the casino.

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