mountpleasantt
mountpleasantt
Joined: Aug 20, 2016
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August 20th, 2016 at 11:47:11 AM permalink
what are the odds of an all bet- rolling 2-6 and 8-12 before a 7. i know it pays 175-1, with a house edge, but how do you know the odds?
PlayYourCardsRight
PlayYourCardsRight
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August 20th, 2016 at 11:57:31 AM permalink
The odds are 123 to 1, making it a sucker bet AGAINST the house.*

*-not really, but if you look on Wizard of Odds Website, at http://wizardofodds.com/games/craps/appendix/5

Shows a house edge of more than 7 percent on each bet.
DJTeddyBear
DJTeddyBear
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August 20th, 2016 at 12:00:07 PM permalink
Check this page:
http://wizardofodds.com/games/craps/appendix/5/

There's a lot of craps bets listed, including the Small and Tall, followed by the All bets.
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? Note that the same could be said for Religion. I.E. Religion is nothing more than organized superstition.
mountpleasantt
mountpleasantt
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August 20th, 2016 at 7:42:33 PM permalink
its all there, thanks a lot
Steen
Steen
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September 6th, 2016 at 1:55:51 PM permalink
Quote: mountpleasantt

what are the odds of an all bet- rolling 2-6 and 8-12 before a 7. i know it pays 175-1, with a house edge, but how do you know the odds?


Did you get the number you were looking for?

Odds are a comparison of the number of ways one event can happen versus another. You simply need to set up a ratio of the two events.

The Wizard's page others have cited here shows the probability of winning the All bet as 0.005258 and the probability of losing as 0.994742. So the ratio of winning to losing is:

0.005258 to 0.994742

Divide both sides by 0.994742 and you get:

Odds of winning versus losing are 0.005286 to 1

Likewise, the ratio of losing to winning is:

0.994742 to 0.005258

Divide both sides by 0.005258 and you get:

Odds of losing versus winning are 189.186 to 1


So ... if the All bet were fair it would pay 189.186 to 1 but instead it pays 175 to 1.

That means the house takes 14.186 simoleons from your payoff. So the house advantage is:

14.186/189.186 ~ 7.5% (approximate due to rounding)

Steen
Last edited by: Steen on Sep 6, 2016
BlueEagle
BlueEagle
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February 25th, 2017 at 12:06:42 PM permalink
I use to enjoy this side bet but not anymore. I've noticed at M Life strip casinos that the payout has been reduced, resulting in a horrific house edge.

Small and Tall: wins pay 30 to 1, the house edge is 18.30%
All: wins pay 150 to 1, the house edge is 20.61%
WatchMeWin
WatchMeWin
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February 26th, 2017 at 1:27:59 PM permalink
Quote: BlueEagle

I use to enjoy this side bet but not anymore. I've noticed at M Life strip casinos that the payout has been reduced, resulting in a horrific house edge.

Small and Tall: wins pay 30 to 1, the house edge is 18.30%
All: wins pay 150 to 1, the house edge is 20.61%



I was wondering when they were going to either do away with this bet or change the payouts on it. Im not big on playing side bets, but I have seen all tall bet pay out many times. Far greater amount of times than the fire bet.

The first time I ever saw the bet in Mirage, I was shooting and I watch another guy playing it make nearly 25k on this side bet. He played 100 on all 3 bets (all tall, all small, all or nothing) I believe the payouts were 35-1, 35-1, 175-1. Of course, it was early in the morning and we were the only two people on the table. The dice were flying with rhythm and no stoppage. Lots of numbers.
'Winners hit n run... Losers stick around'
mountpleasantt
mountpleasantt
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February 28th, 2017 at 9:43:06 AM permalink
really, which casinos are at the m life strip?
beachbumbabs
Administrator
beachbumbabs
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February 28th, 2017 at 8:09:47 PM permalink
Quote: mountpleasantt

really, which casinos are at the m life strip?



MGM Grand
Mandalay Bay
New York New York
Bellagio
Mirage
Excalibur
Aria
Luxor
Monte Carlo
maybe Circus Circus (they have some weird arrangement; think they're mostly m life)
"If the house lost every hand, they wouldn't deal the game."
Ibeatyouraces
Ibeatyouraces
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February 28th, 2017 at 8:32:10 PM permalink
MGM does own CC but they have their own players card/club.

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