If you wanted to seriously invest in the stock market would you close your eyes and buy what ever stock your finger touches in the financial section of the newspaper? Would you pick a stock because the name is cute? Do you think it be a better approach to research the company, figure out how the stock market works and study trends and economics? Like every endeavor in life, the more you know the better you will probably do.

I constantly receive questions about the best way to win while playing the games of chance in Las Vegas, as if there is a magic incantation, charm or an insider secret that will guarantee the money will flows across the table to the player. I am sorry to say there are not any. With rare exceptions, the casino has the advantage with every bet of every game of chance.

Here are my basic rules of gambling. Notice I did not say, "Rules of winning." If I could come up with "rules of winning" that actually worked I would not be writing this - I would be at the casino. Neither I nor anyone else can guarantee you will win. If someone tells you they can, do not believe them - run, making sure you have a death grip on your wallet. Following these rules may not make you rich but they should make your trip more enjoyable. Plus, you will feel as if you have some control, at least over your actions while playing.

Any plan is better than no plan and these rules are a plan of action for visiting the casinos. Feel free to adjust them to fit your needs.

KNOW THE MECHANICS OF THE GAME

Would anyone borrow money from a bank without knowing the interest rate and payment schedule? Probably not. After all, we work hard for our money and want to know all the details before we put money at risk. Amazingly enough, the same people who will pour over a loan document for hours will sit down at a casino games without a clue as to how the game is played. How can you expect to win if you do not even know the rules?

Some games are fairly simple and do not require extensive instructions. Take the Big 6 wheel. Put a chip on the dollar bill on the layout. If the wheel stops at the dollar bill, you win. On the other hand, there are bets in craps that are not even visible on the table, including one that is arguably the best bet in the game for the player. If you do not know about it you won't be able to make that bet.

If you plan on playing any particular game, study up before your trip. There are many books, video/computer games and free shareware you can use. Find people who are knowledgeable on the subject and ask them. Practice when you have spare time; long flights are an ideal venue.

If decide you want to play an unfamiliar game in the casino, make sure you find out about it before you put that first bet down. Most of the newer games have instructional pamphlets available and many casinos have free gaming classes. If nothing else, watch the game and ask questions before you jump in. Resist the dealer's suggestion of, "Sit down and play for a while. It's an easy game. It won't take long until you get the hang of it."

Several years ago the Tropicana's casino offered lessons at one roulette table and one BJ table. Both had one cent bets with a one time buy in of $1. You could practice as long as that dollar lasted. Several times during that trip I heard people saying, "I wouldn't have played if it hadn't have been for those penny lessons." I thought it was a good marketing ploy but it only lasted a couple of months. I have not seen it anywhere since.

If you are a new player and are intimidated by the $5 minimum (or more) at most strip properties, some strip casinos have $1 minimum bets. These low limits are easier to find downtown where some casinos where you can play $.25 craps and penny slots.

KNOW THE BEST BETS FOR YOUR MONEY

If the healthy horse goes off at even odds and the horse with a broken leg is listed at 1000 to 1, some people will bet on the impaired horse. These people are more concerned with the pay off than making the best bet.

The best bets in the casino are those that pay off as closely to the real (true) odds as possible. The 12 bet on the craps table usually pays off at 30 FOR 1. When a bet says "FOR" it means your bet of $1 is included in the payoff. The payoff on this bet is $29 plus our original bet equals $30.

The true odds on this bet are 35 to 1 (35 ways to lose and one way to win). If the casino paid the true odds you would win $35 for a $1 bet instead of $29. This is the casino's edge, its percentage of advantage over the player; it is how the casino makes its money.

Remember the bets that are not visible on the craps table? It is called "the odds". It pays the true odds and, in itself, has no advantage to the casino. The true odds on the four are 2 to 1. If you take the odds bet and win, the payoff will be 2 to 1, exactly the true odds.

So, which is the better bet, the one that has a big pay off but also has hefty advantage to casino, or the bet that has a less exciting payoff but you will have a better chance of winning. Your choice. Some people figure it's more exciting to bet on the horse with the broken leg - not me, though.

BUDGET YOUR GAMBLING MONEY

No one goes to Las Vegas with the intention of losing the kids' college fund but it happens. If you blow your trip's entire gambling budget the first day you might get desperate and there goes Bud and Lisa's future.

Budget your funds. If you are going to be gambling for three days, split your gaming budget in three parts; do not risk any more than that third every day. If you lose any day's available funds, have a shrimp cocktail, go to a show or take a car trip to places like Red Rock Canyon or the Valley of Fire. You can always play again tomorrow.

If you have less self control, ask the casino cashier to deposit your funds and tell them not to let you draw more than that third every day. If you have even less self control, tell the cashier not to extend you any credit or let you write any checks. If you have no self control go to Disneyland instead of anywhere you can place a bet.

HAVE AN IDEA ABOUT HOW TO MANAGE YOUR MONEY

You have to know when to increase and decrease your bets; this is called Money Management. Figure out your plan. Betting more when winning and less when losing is a good plan but only you can figure out a plan for you. Stick to your plan. As much fun as they can be, resist impulse or hunch betting.

Be consistent - do not play willy-nilly. I have seen lots of people playing BJ correctly double down on a $5 bet but after they win a little not double down on the same cards because they are betting $20. If it's a good bet for $5 then it's a good bet for $20!

KNOW WHEN TO QUIT

Most people never get ahead and do not quit until their buy in is gone. For some reason, a lot of people who do get ahead quit while they are still winning. Why? Winning streaks are few and far between. Press it for all it's worth and if you keep winning, keep playing. When you start to lose it back (how much is up to you) is a good time to quit playing.

COCKTAILS!

Take it easy on the "free" drinks. The casinos give them to you because they do not make any money while you are walking to and from the bar. The "free" drinks are there to keep you at the table or machine and to loosen you up. Don't feel you have to drink an alcoholic beverage. The cocktail waitresses will bring you a coffee, a soft drink, milk or even water as quickly as they would a beer.

BE A NICE PERSON

This is optional because it doesn't affect the outcome of the games. Be nice to everyone, players and casino employees alike. It would make for a better casino experience for all if everyone did this.

On your next trip, go with knowledge, common sense and restraint.

Good luck.