ewjones080
ewjones080
Joined: Feb 22, 2012
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June 7th, 2012 at 5:30:45 AM permalink
So one of my local casinos is offering a $3 craps game from noon-7 on Wednesdays in June. The thing is, they don't have .50c chips, so they ROUND UP. For place bets 6/8 gets $4, 5/9 gets $5 and 4/10 gets $6. By my calculations this gives the PLAYER a 6% advantage on inside numbers with basically a free buy bet on the 4/10 (zero house edge). How much would you exploit this?

By my calculations one person, playing for 20 hours total, working inside on come outs, would only get $300-$500 MAX of profit. So not much. But sti
FinsRule
FinsRule
Joined: Dec 23, 2009
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June 7th, 2012 at 6:55:59 AM permalink
I'd rather just go to work.

But if I were going to the casino anyway, I'd do it.
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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June 7th, 2012 at 7:47:09 AM permalink
Anybody with a six percent advantage will make more than that!!
dwheatley
dwheatley
Joined: Nov 16, 2009
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June 7th, 2012 at 7:56:35 AM permalink
Quote: FleaStiff

Anybody with a six percent advantage will make more than that!!



It's only a 6% advantage on $3 bets. If you push your bet, the advantage goes down, then goes away. You could get a couple friends together, as long as you aren't taking much time off a paying job. Each of you can play the inside numbers for $3. You should all make out the same if you are betting the same, so it's no different than playing by yourself, except you save on gas...
Wisdom is the quality that keeps you out of situations where you would otherwise need it
Tiltpoul
Tiltpoul
Joined: May 5, 2010
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June 7th, 2012 at 10:15:40 AM permalink
Quote: ewjones080

So one of my local casinos is offering a $3 craps game from noon-7 on Wednesdays in June. The thing is, they don't have .50c chips, so they ROUND UP. For place bets 6/8 gets $4, 5/9 gets $5 and 4/10 gets $6. By my calculations this gives the PLAYER a 6% advantage on inside numbers with basically a free buy bet on the 4/10 (zero house edge). How much would you exploit this?



Why are they doing this promotion? I know Ameristar St Charles used to do these "promotions" when they needed new crew to get practice. This means the game can move at a snail's pace and can be boring.
"One out of every four people are [morons]"- Kyle, South Park
MathExtremist
MathExtremist
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June 7th, 2012 at 10:33:07 AM permalink
Anytime a positive edge disappears based on increased action, it's best to look at actual dollar amounts. It's not really 6%, it's $0.18 per bet on the 6/8. Divided by resolution time is 5.5c/roll, or between $5 and $6/hour. The same turns out to be true for the 5/9 as well, so with all four +EV bets working you're looking at between +$20 and $24/hour depending on the speed of the table (around 100 rolls/hour).

The right way to approach this is to get a large enough group of friends together to completely fill the table and have none of them bet anything other than the inside bets, except for the shooter who makes a single line bet. You'll maximize rolls/hour that way and therefore hourly rate. This is important because you only have 21 hours left total for this play. If you can get rolls/hour up to 180 (every 20 seconds) you can make as much as $40/hour, or $840 theoretical total, but that's the extreme upper limit. Seems like a lot of work for a too-small reward.
"In my own case, when it seemed to me after a long illness that death was close at hand, I found no little solace in playing constantly at dice." -- Girolamo Cardano, 1563
konceptum
konceptum
Joined: Mar 25, 2010
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June 7th, 2012 at 10:44:16 AM permalink
At a blackjack table, you can play more than one hand at a time. If you're at the craps table, can you ask to play more than one position? Then you could play 16 $3 bets all around the table.
Tiltpoul
Tiltpoul
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June 7th, 2012 at 10:51:50 AM permalink
Quote: konceptum

At a blackjack table, you can play more than one hand at a time. If you're at the craps table, can you ask to play more than one position? Then you could play 16 $3 bets all around the table.



I'm pretty sure that would fix that promotion REALLY quickly.
"One out of every four people are [morons]"- Kyle, South Park
slackyhacky
slackyhacky
Joined: Jan 18, 2012
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June 7th, 2012 at 11:55:52 AM permalink
Quote: MathExtremist

Anytime a positive edge disappears based on increased action, it's best to look at actual dollar amounts. It's not really 6%, it's $0.18 per bet on the 6/8. Divided by resolution time is 5.5c/roll, or between $5 and $6/hour. The same turns out to be true for the 5/9 as well, so with all four +EV bets working you're looking at between +$20 and $24/hour depending on the speed of the table (around 100 rolls/hour).

The right way to approach this is to get a large enough group of friends together to completely fill the table and have none of them bet anything other than the inside bets, except for the shooter who makes a single line bet. You'll maximize rolls/hour that way and therefore hourly rate. This is important because you only have 21 hours left total for this play. If you can get rolls/hour up to 180 (every 20 seconds) you can make as much as $40/hour, or $840 theoretical total, but that's the extreme upper limit. Seems like a lot of work for a too-small reward.



Who goes to the casino for work anyway?

I think the point is, we usually loose money when we bet, but we do it because it is kinda fun.

If you can make a little bit of money (being a small amount) and have the same amount of fun, then that is great.

People say things like- 'i'd rather work' - that is odd. Seriously, who is in a casino (that isn't math challenged) as an alternative to work and not play? That is a small few I am sure.

That promotion sounds really fun to me!
ewjones080
ewjones080
Joined: Feb 22, 2012
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June 7th, 2012 at 2:42:26 PM permalink
Yeah, after I crunched the numbers, I decided it's not THAT great of a deal. The thing is I have Wednesdays off, so I'm not skipping out on work, but noon is also very early for me (third shifter). Not sure if I'll take full advantage of it or not.

This promotion isn't specifically craps it's "3's ARE WILD WEDNESDAYS!" So you earn 3x the points on slots and VP and $3 blackjack, roulette, and craps. But this place has always rounded up on improper bets. $25 odds on 5/9 gets $38. $5 horn gets $33 on high side. It just so happens $3 place bets become player advantage. I have to believe management is aware of this, but don't care because it's a miniscule advantage.

What I would prefer to do is stack up every hit on the inside on my odds. Then if I hit my point it's a big payday. In this scenario at least.

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