SACR
SACR
Joined: Jul 7, 2012
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October 17th, 2012 at 4:52:17 AM permalink
I was gambling in Shreveport this past weekend and noticed the dealers taking $5 place bets on 6/8 and paying it off at $6, or true odds, when it came up. Since most casinos encourage you to bet $6 to win $7 on 6/8, I don't know if this is just something allowed in Shreveport or everywhere. However, I am wondering if there is a player advantage here.

If you're betting $5 to win $6, you're receiving a 20% return on your bet when it wins. If you're betting $6 to win $7, you're receiving a 16.7% return on your bet. That is a 3.3% edge for the player if the casino is paying $6 on a $5 place bet.

So wouldn't this be a slight player advantage at casinos making this payout?
DeMango
DeMango 
Joined: Feb 2, 2010
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October 17th, 2012 at 5:07:03 AM permalink
Paid off at true odds equals no player advantage. The casino makes money by short paying you. We have already noted some casinios in NM paying off 4/10 buys at true odds also with no vig.
When a rock is thrown into a pack of dogs, the one that yells the loudest is the one who got hit.
DJTeddyBear
DJTeddyBear
Joined: Nov 2, 2009
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October 17th, 2012 at 5:21:06 AM permalink
It's not a player advantage. On the other hand, there's no disadvantage either.

However, it IS an advantage - but only when compared to other casinos that pay $7 for $6.
I invented a few casino games. Info: http://www.DaveMillerGaming.com/ 覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧覧 Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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October 17th, 2012 at 5:38:40 AM permalink
Well, if you are already at that casino... go for it.
If its a choice between that casino and some nearby casino for your next trip, thats one item to consider.
Its a come on used to "sweeten" the deal you are getting and keep players from going casino hopping.
Ahigh
Ahigh
Joined: May 19, 2010
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October 17th, 2012 at 9:33:06 AM permalink
That's pretty cool if they don't require other bets first.

If you can come in and bet the 6 and 8 and nothing else, sounds like a deal to me!

I find it hilarious that "expert" craps players hover towards bets with edges of 1% per roll and higher in their quest to exploit systems that are based on not rolling sevens and wish to get paid on anything else also thinking they can overcome higher edges because they are so good at throwing the dice without rolling sevens.

You don't need much math skills to know that a true-odds bet with no other bet (IE: with an edge) required first is pretty damn good and gives you an amazing chance to win no matter how you slice it.

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