College Dropout Earns $8.5 M in Poker Win

(CBS) Who says you have to have a college degree to make money?

Joe Cada doesn’t.

A college dropout, Cada's now a multimillionaire after winning $8.5 million Tuesday in Las Vegas. Cada, 21, is the youngest person ever to win the World Series of Poker.

Cada, surrounded by his millions, said on "The Early Show" from Las Vegas that the money is "pretty sweet."

How did he do it?

Cada won the tournament in a preflop.

"I raised it up to $3 million, he made it $8 million, and I moved in for like $60 some million, and he called," Cada said. "I was kind of too scared to look so I just had my back turned, hoping it would work out for the best."

Cada had two nines, trouncing his opponent who held just a jack and a queen of diamonds.

A first-time player in the World Series of Poker, Cada said he'd looked forward to turning 21 for years so he could participate. Cada said he got his start playing cards with his friends at a "young age."

"I was really excited to play," he said. "It's a really long shot because there's 6,500 people in the tournament. But I was still looking forward to playing in it."

However, Cada said playing for up to 12 hours straight some days was "pretty surreal."

"You kind of get in the zone after a while," he said. "The tournament lasted for about 10 days total. Once you start playing for a long time, it was just like you had to wake up and go and play another day."

During the tournament, Cada said he was up and down with his success. At the beginning of the tournament he had the most chips of any player, but on the eighth day he was getting low on chips.

"Fortunately everything worked out well," he said.

As for support, Cada's said his mother, Ann, was skeptical of his involvement in gaming and the tournament because she works as a blackjack dealer at a casino in Detroit.

"She'd always see people gambling and you know, lose money, so she was always kind of nervous about me playing poker for a living," he said. "It brought her to tears when I won the thing. She said she was really proud of me."

So does Cada plan to go back to college now that he can afford it?

He told "Early Show" co-anchor Maggie Rodriguez that isn't his plan, saying he isn't going back "any time soon."

Learn How to Play Battle Royale

Battle Royale is a card game, similar to the children's card game of War but played between one player and a dealer. A regular deck of 52 cards is used, with one card dealt face up to the player, and one card dealt face up to the dealer.

The game is very simple in that whoever has the higher card wins. When it comes to rank, aces are high and twos are low. The game carries on in this fashion until a tie occurs between the dealer and the player.

If this happens, the dealer will ask if the player would like to battle or surrender. If the player chooses to surrender, the dealer takes the bet and deals a new hand. If the player to battle, the original wager must be doubled, and cards are then dealt out one by one to the player and to the dealer. If the dealer wins, the doubled wager is lost, but if the player wins, only the original bet is returned. However, if a second tie occurs during the battle the player is payed out at a rate of 7:1.

Pro Poker Tips - Bluffing in full-ring limit Texas hold’em

Many players have argued that full-ring limit play is a game where bluffing is impossible. I think that this incorrect statement may be based on these particular players having played limit poker for a while and a few key instances may be sticking in their mind.

The fact of the matter is that you can bluff in full-ring limit play but the opportunities to do so are severely limited. But defining these bluffing opportunities and successfully executing them could be the one defining factor that turns your month from being a negative one into a positive one.

EXAMPLE:

Game : $2-$4 full-ring

Position: Big blind

Action: One player limps in early position and everyone folds to you including the small blind and you see a free flop. Your hand is the 5-3.

The flop comes Q-7-2 and the action is on you, what should your play be here? Well there is a total of $5 in the pot and you basically have nothing……or do you? Many players who claim that the big blind has nothing here are missing a trick. The big blind does have something, they have a good bluffing opportunity based on several factors.

Firstly they are in a heads up situation and in heads up situations then bluffing opportunities always crop up. Also his opponent did not raise pre-flop so his betting action to date indicates one of potential weakness. Thirdly the flop texture is ideal for a bluff attempt. There are no flush or straight draws out there and your opponent could have limped in with a hand like A-9s and simply give up here.

Finally we have the pot odds and there are $5 in this pot and a flop bet only costs you $2. So your bet only has to immediately work one time in three to show a profit. If you bet here and get called then you have the option of giving up on the turn or firing another barrel.

Many players will call a small flop bet but will release on the turn when the betting limit doubles and you are firing another barrel. If you bet the flop and get check-raised then you can simply release the hand.

But situations like these crop up frequently in limit play and you have to be on the ball to spot them. But do not let statements like “you cannot bluff at limit” deter you from looking for situations like these because not only do they exist but they also exist in ample quantity as well.

Learn How to Play Battle Royale

Battle Royale is a card game, similar to the children's card game of War but played between one player and a dealer. A regular deck of 52 cards is used, with one card dealt face up to the player, and one card dealt face up to the dealer.

The game is very simple in that whoever has the higher card wins. When it comes to rank, aces are high and twos are low. The game carries on in this fashion until a tie occurs between the dealer and the player.

If this happens, the dealer will ask if the player would like to battle or surrender. If the player chooses to surrender, the dealer takes the bet and deals a new hand. If the player to battle, the original wager must be doubled, and cards are then dealt out one by one to the player and to the dealer. If the dealer wins, the doubled wager is lost, but if the player wins, only the original bet is returned. However, if a second tie occurs during the battle the player is payed out at a rate of 7:1.

CARIBBEAN STUD POKER

Caribbean stud poker is a variation of regular five-card stud poker played on a standard blackjack-sized table. It is unique in that it is the first casino table game to offer a progressive jackpot. As its name implies, this poker game originated in the Caribbean islands, and it soon spread to casinos in America and Europe.

Game Play

This card game is played with one standard deck of cards. The game is initiated when the player places a wager called the ante. Next, the dealer will deal five cards face down to each player. The dealer's own five-card hand is dealt, four cards face down and the final card face up. Now it is the player's choice to either stay in the game or fold. If the player chooses to fold, the ante is forfeited. If the player decides to stay, the amount of the original ante must be doubled. The dealer's cards are then revealed. If the dealer does not have at least an ace/king combination, the player automatically wins even money on the ante and the wager is returned. If the dealer does have at least an ace/king combination, then a comparison is made between the dealer's and player's hand. If the player has the higher hand, the player wins even money on the ante and the original wager pays according to the payout table below:

Hand Payout
Royal Flush 100:1
Straight Flush 50:1
Four of a Kind 20:1
Full House 7:1
Flush 5:1
Straight 4:1
Three of a Kind 3:1
Two Pair 2:1
Pair 1:1
Ace/King 1:1

Playing Options

Players are also given the option of playing for the progressive jackpot. To be considered for the progressive, players must make an additional side bet of one dollar at the onset of the game. The player is wagering that they will receive a hand of cards that equates to a flush or better. Regardless of the outcome of the regular table game, if the player has a hand that qualifies for the progressive jackpot, that player will win the amount designated in the payout table. Players are usually rewarded with 100% of the pot for a royal flush, 10% of the pot for a straight flush, and a set monetary amount for a four of a kind, full house, or a flush. These amounts will vary from casino to casino.

Strategy

Basic Strategy dictates that you should at least do the following:

bet when you hold a pair or better
bet when you hold an ace/king if your hand contains the same card as the dealer's upcard.

Hint: do not bet the progressive wager.

Learn How to Play Baccarat

online casino baccarat games:

The object of Baccarat is to hold 2 or 3 cards, which count 9, or as nearly 9 as possible. The values of the cards are: face cards and tens are 0; aces are 1; any other card is worth its face value. Unit of 10 points are disregarded so that 9+7 count as 6, not 16.

The dealer will deal out cards to both the player and dealer. Depending on the value the initial 2-card hands, a third card may be dealt to either one of the hands. Ultimately the winning hand will be the one closest to 9.

You have the choice of betting on either the player's hand or the dealer's hand. To place a bet you have to either click on the word "player" or on the word "dealer" and your bet will be placed on the table automatically.

History

The word baccarat is derived from the Italian word baccara, meaning zero, and refers to the zero value given to all of the face cards and tens. In Europe, the elegant game of baccarat is one of the most popular online casino games.

It has long held the attention of gamblers and an early version was played with cards from a Tarot deck back in the Middle Ages. Baccarat may have originated in Italy around 1490, but by the early1950's it had become the game of choice for the French nobility. Eventually baccarat evolved into European baccarat and the French game chemin de fer. What is known as American baccarat actually originated in England and spread to South America. The version of the game that is played today came from the Capri Casino in Havana, Cuba.

When baccarat was introduced to Nevada in the late 1950's, casino's tried to instill the glamorous aura associated with the European game. In most casinos, baccarat is played in a roped-off area, is closely monitored and sometimes even guarded.

While the grandiose atmosphere may attract the well-dressed high roller, baccarat is a simple game of chance that involves no degree of skill on the part of the player or dealer. Players may sit in any of the 14 open seats at the table, as seating position does not affect the play in any manner. Each seat corresponds to a number on the layout, one through 15, excluding a spot numbered 13 to avoid bad luck. Three dealers service each table. The dealer standing in the middle is known as the croupier or the caller. The croupier makes the calls on each hand as they are dealt, and directs the players on the procedure of the game. The other two dealers are responsible for handling the payoffs.

Game Play

Baccarat is played with either six or eight complete decks of cards. All cards, ace through nine, are valued according to their count. Tens and face cards count as zero. When any two cards total over a 10 count, 10 must be subtracted and the remaining total is the card count. The cards are shuffled by the dealer and then reshuffled and placed in a covered box called the shoe. As part of the formality, each player gets a turn to handle the shoe, and the caller explains exactly what to do. The player is expected to bet the bank when holding the shoe, but any player may decline the shoe and pass it along to the next player. The caller receives the cards from the player with the shoe, places them in the appropriate boxes and then calls for another card or declares the winner, according to the rigid rules of the game.

The fixed rules of baccarat apply in all American online casino games:

The highest total any baccarat hand can have is nine. A two-card total of nine is called a natural and cannot lose. An eight is the second best hand and is also called a natural. If both player and bank are dealt identical hands, it is a tie and neither bank nor player wins.

If neither hand has a natural, the player's hand is always the first to be played, followed by the dealer. If the first two cards total five or less, another card is drawn. If they total six or seven, no further cards can be drawn.

No more than a total of three cards can be drawn for either hand, and when both hands have been played out, the hand closest to nine wins.

Players bet by placing their chips in either the player, bank, or tie spot in the numbered box opposite their seat. Winning bets made on the player or bank are paid off at even money. The only other bet that can be made is a tie bet, which is paid off at 8:1. In most games, bets range from a $20 minimum to $2,000 maximum. The type of wager and the amount are the only decisions a player must make, after which point the dealer's actions take over. After the winner is announced, the two other dealers at the table pay off the winning bets and collect from the losers. If the bank was the winner, players who won must pay a 5% commission on their winnings. A record of the commission owed by each player is kept with plastic lammers in a numbered box. Players can pay this vigorish at any time, but it must be paid when the shoe is completed. Each time the shoe is depleted of cards, all decks are thoroughly shuffled and replaced in the shoe.

The house edge in baccarat is the lowest of any online casino games. With only a 5% commission on winning bank bets and nothing taken from winning player bets, the player's disadvantage is only 1.37%. The payoff for ties is 8:1, but it is a bad bet as the house edge is increased to 14.1%.

Mini Baccarat

A number of online casino games have installed a smaller version of the baccarat game played on standard blackjack-sized gaming tables. It is played by the exact same rules, but lacks the accoutrements of the formal version. The table is staffed by only one dealer who is responsible for handling the cards. The layout, however, conforms to the regular baccarat table and each of the seven seat positions correspond to a number and betting box with spots for banker, player, and tie. The limits are lower and usually range from a $2 to $5 minimum, up to $500 maximum. Lacking the formality and large group of players, mini-baccarat is played fast and is a good place to learn how to play.

Hint: counting cards in baccarat is not advantageous

Hint: betting in a tie is a long shot.

Casino Gambling For Your Security

Know the casino gambling tips for your safe and secure

A casino vacation for fun and relaxation plus the 'profitable' possibilities can be ruined by not being watchful of your own security. Most people are safety and security conscious at home, therefore, vacation time should be no different.

A short list for casino players follows to ensure a 'safety shield' when casino hopping, particularly women who are gambling alone.

1) Women—don't bring your purses to the casino. Wear a waist purse or fanny pack when gambling; not only are your credit cards, personal identification and money safes, but your hands are free for games and machines.

When gambling alone, ask a security guard to escort you to your car when you leave, or use valet parking in the larger gambling areas. Two bucks for valet parking is a cheap price to pay for safety considering that most casino parking lots are not well lit or well patrolled. Insist on a room close to the elevator and use the hotel safe for valuables.

2) Don't take large payouts in cash, ask for a cashier's check to be issued by the casino.

Resist the temptation to brag about your huge win or count your bills at the cashier's cage, in an elevator or on the casino floor.

3) Be wary of people who suddenly become your friend after a big win, and check that you are not being followed around the casino or outside. Also beware of pickpockets, especially in Las Vegas.

4) Airports that serve nearby casinos require additional safety measures. Don't get distracted by strangers with unusual questions. The scam is set up by one person who gets your attention with inane questions or chatter, while the other grabs and disappears.

Be sure that your expensive luggage, VCR, laptop computer or camera is within your view or watched by someone at all times.

5) Check to see if there is a pass-through to the other side's bank of machines from where you are playing. Scam artists can reach through from the opposite side to the shelf beside your machine and grab your coin bucket you placed there.

I have noticed that more casinos, especially in Nevada and Atlantic City, now have partitions to stop this crime. However, if there are not petitions, it's best to hold your bucket of coins on your lap or between your legs as a precaution.

6) Watch for the "drop the coins in front of you" scam, where you are distracted, offer to help and find too often that your bucket of money is being removed.

7) Craps table rails make for easy snatches as the players are very involved and distracted in this fast-paced game. Hold your money in your hands, or pocket it for safety.

Although the casinos try to be helpful and don't like the nightmares that customers' stolen money can bring; nonetheless, those surveillance cameras are watching the casinos' money, not yours!