Gambling has long been shrouded in myths and legends. While some of these beliefs may contain truthful elements, others can simply be falsehoods. Casinos do not represent evil gambling opportunities if done responsibly by gamblers.
Understand that casino games are random; you could win big without spending anything first and lose quickly after! It is also crucial to remember that these games can be unpredictable; every win or loss could happen at any moment!
Nick the Greek
Nikolaos Dandolos, better known by his nickname – Nick the Greek – was born and raised comfortably thanks to his wealthy family in Crete. At 18 he received an allowance of $150 each week and decided to travel alone to America where he discovered gambling as his passion and lived an adventurous lifestyle that saw him go from riches to rags over 70 times, winning and losing fortunes estimated to total $500 Million!
He was an expert at both dice and poker, creating excitement among spectators at every table he appeared at. Casino owners and mafia bosses made several offers of employment; yet he remained independent, refusing them all in order to remain free.
Gambling has generated an immense body of myths, fables, theories and criticism over time. While most are harmless, some may be dangerously misleading – leading people to believe they can create winning systems and make money gambling when this simply isn’t possible – thus it’s essential that gamblers know about casino myths so they can gamble responsibly.
While many casinos earn more in revenue than they pay back to players over time, this does not indicate rigging. Indeed, slot machines are all controlled by random number generators which cannot be altered. As for the oxygen myths associated with land-based casinos supposedly pumping in fresh oxygen to keep players energised – perhaps this is just due to vivid imaginations!
Francois Blanc, one of the earliest casino legends, was born in 1806. As children growing up in a small village near Paris, he and Louis enjoyed watching circus acts and eventually becoming professional acrobats themselves, traveling all across France while learning all kinds of gambling tricks along the way.
After paying a fine for bribing officials, two brothers decided to enter the gambling business. Utilizing innovative projects to circumvent French anti-gambling regulations and reap huge profits in doing so.
Francois Blanc was then able to transfer his talents when Monaco legalized gambling, investing capital into roads and railways that made Monaco an attractive tourist destination. Due to this success he earned himself the moniker ‘The Magician of Homburg’.
As gambling was invented thousands of years ago, it has engendered numerous myths, fables, and theories surrounding its history and practice. Some are fact-based while others can be completely fictional – all adding an air of mystery surrounding gambling.
One of the more commonly held casino myths is that casinos rig their games. Though this may seem plausible, this belief is untrue; casinos are businesses and therefore must generate long-term profit through earning more than what is paid out to players through house edges.
An often-perpetrated myth holds that casinos use oxygen-infused buildings to keep gamblers awake for extended periods. While this may make some feel more alert, it does not affect chances of winning at all.
Sheldon Adelson’s Las Vegas Sands empire serves as an inspiring example of how to successfully leverage new technologies and efficiently run businesses to maximize profit. Born to immigrant parents who slept on the floor of their Boston apartment, Adelson used his hard work ethic and keen business sense to amass a global empire that spans five continents.
He amassed his fortune from casinos, hotels and media with a particular emphasis on conservative political causes in both America and Israel. A prominent contributor to Republican campaigns, he owned newspapers including Las Vegas Review-Journal and Israel Hayom – with which he regularly made political commentary.
His influence extended far beyond the confines of Las Vegas Strip; media companies in Macau and Singapore, and even Washington DC halls of power were under his sway. Forbes estimated his fortune at $35 billion; giving him enormous influence.