pixelwiz
pixelwiz
Joined: Aug 23, 2010
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August 23rd, 2010 at 12:31:20 PM permalink
I'm going to Vegas in two weeks. My favorite game to play is Let It Ride, I've played it on a couple of cruises and won quite a bit, but I did not play perfect. There are a lot of sites that show the optimal playing strategy, like what hands to let it ride on, as well as odds and payout tables. I understand the house edge is about 3.5% with optimal playing strategy. But what I would like to know, is there a betting strategy for Let It Ride? I don't think any of the Blackjack ones would work like increasing bets every time you win or lose a hand, since in Let It Ride you win less than 1 out of 4 hands on average. Does anyone know of any betting strategies for this game that can produce higher payouts? Like when to increase or decrease the bet size? Maybe something like if you lose 3 hands in a row, then increase the bet by one increment?
thecesspit
thecesspit
Joined: Apr 19, 2010
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August 23rd, 2010 at 12:48:30 PM permalink
Quote: pixelwiz

I'm going to Vegas in two weeks. My favorite game to play is Let It Ride, I've played it on a couple of cruises and won quite a bit, but I did not play perfect. There are a lot of sites that show the optimal playing strategy, like what hands to let it ride on, as well as odds and payout tables. I understand the house edge is about 3.5% with optimal playing strategy. But what I would like to know, is there a betting strategy for Let It Ride? I don't think any of the Blackjack ones would work like increasing bets every time you win or lose a hand, since in Let It Ride you win less than 1 out of 4 hands on average. Does anyone know of any betting strategies for this game that can produce higher payouts? Like when to increase or decrease the bet size? Maybe something like if you lose 3 hands in a row, then increase the bet by one increment?



No betting system will reduce the house edge. You can only increase the payouts by betting large amounts. This means you lose more Actual EV per play (the percentage EV stays the same). The BJ ones don't "work" either, except to increase your variance at the cost of increasing your overall negative Real Expected Value (and hence overall loss if you run average or worse).

Chasing losses is a definite no no... remember the cards have no memory, you are never 'due' for a win and by increasing on the 4h loser all you are doing is making this hand more important than the last one.
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
SolidAU
SolidAU
Joined: Jul 8, 2010
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August 23rd, 2010 at 3:38:23 PM permalink
Quote: thecesspit

Chasing losses is a definite no no...



This isn't necessarily true, as it's a function of personal utility rather than expected value. Given the way most people gamble and handle money, you're probably right.
teddys
teddys
Joined: Nov 14, 2009
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August 23rd, 2010 at 4:59:26 PM permalink
The best betting strategy for Let it Ride is not to play! But, if you enjoy it, bet the minimum every hand. You can't do any better (worse?) than that. By the way, the variance on Let it Ride is huge, so don't be surprised if you experience a large losing streak. (I see you've already gotten the big winning streak).
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
slyther
slyther
Joined: Feb 1, 2010
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August 24th, 2010 at 12:19:01 PM permalink
"A strange game...the only winning move is not to play...how about a nice game of chess?"
Ibeatyouraces
Ibeatyouraces
Joined: Jan 12, 2010
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August 27th, 2010 at 4:04:35 PM permalink
deleted
DUHHIIIIIIIII HEARD THAT!
Mosca
Mosca
Joined: Dec 14, 2009
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August 27th, 2010 at 6:07:13 PM permalink
Seriously, here's how I play Let It Ride, when I play it.

First, no button bets. No pairs bets, or any other goofy bets. Play the 3 antes.

Start with $100, at a $10 table. Play any pair of 10s+, and any 3 to a straight flush. Some folks say to play any 3 pay cards (like 10, J, A); OK, but I don't. I can't fault you for playing it, though.

If you haven't won by the time the $100 is gone, oh well; walk away. 10 losers in a row (assuming you didn't get 3 to a straight flush) is time to go. If you won something, keep playing until you either think you won enough, or lost the $100.
NO KILL I
rtpud
rtpud
Joined: Sep 2, 2010
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September 2nd, 2010 at 5:27:06 PM permalink
You can play a negative progression system if you really want a betting system...you just have to apply it slightly differently.
From base bet of 1 unit, you have to keep a count of the number of units off you are.
Bet = (units off)/3

Below is a sample progression table assuming you pull back to a single bet on every losing hand prior to losing:


#Hands sequentially lost Bet Net Loss
0 1 1
1 1 2
2 1 3
3 1 4
4 2 6
5 2 8
6 3 11
7 4 15
8 5 20
9 7 27
10 9 36
11 12 48
12 16 64
13 22 86
14 29 115
15 39 154
16 52 206


etc.

To calculate the give back, since let it ride pays out on a schedule, you take your total units won for the hand when you win, subtract from the net loss, and divide by 3 to reset your bet level. Again, NO GUARANTEE YOU WILL WIN WITH THIS...Let It Ride can deal you some LONG cold streaks so good luck!
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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September 14th, 2011 at 9:44:52 AM permalink
>but I did not play perfectly.
You never will. There are always distractions and alcohol exerting their effects.

>I understand the house edge is 3.51 percent ...
That is a major concern for me. It is officially defined as being based on but one of those three mandatory bets, but lets face it: Most players never take back a bet, they generally LIR. So does this alter the house edge... considering those three separate bets as being effectively one bet because most players treat them like that?

>Betting Strategy?
Sure. When you are going to win the next hand... bet big!!
bushman
bushman
Joined: Feb 17, 2010
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September 19th, 2011 at 4:50:29 PM permalink
Quote: slyther

"A strange game...the only winning move is not to play...how about a nice game of chess?"



Joshua, how do you suppose the casino could find a way to bank a nice game of chess? I am sure they could, if the demand was there.
Never count your winnings at hour 23 of a 24-hour drive.

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