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Beethoven9th
Beethoven9th
Joined: Jul 30, 2012
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January 17th, 2014 at 2:09:32 PM permalink
I don't make very many lays bets, but I noticed that Station Casinos allows players who lay the 4 or 10 to pay vig on the win. I also noticed that dealers subtract only $2.00 when a $100 lay bet wins (which, of course, is 4% commission). With 5% commission, the HE is 2.44% when paid up front on the 4/10. On the win, 1.67%

Obviously, 4% is beneficial for the player, but my question is: How much exactly does it lower the House Edge?
Fighting BS one post at a time!
AxiomOfChoice
AxiomOfChoice
Joined: Sep 12, 2012
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January 17th, 2014 at 2:27:07 PM permalink
Quote: Beethoven9th

I don't make very many lays bets, but I noticed that Station Casinos allows players who lay the 4 or 10 to pay vig on the win. I also noticed that dealers subtract only $2.00 when a $100 lay bet wins (which, of course, is 4% commission). With 5% commission, the HE is 2.44% when paid up front on the 4/10. On the win, 1.67%

Obviously, 4% is beneficial for the player, but my question is: How much exactly does it lower the House Edge?



This is standard, I think. It's how it works at MGM grand, for sure, betting no 4 or no 10.

Paying 4% commission instead of 5% commission lowers the house edge by 20% (4/5). You win 2/3 of the time (and when you win, you win 50% of the bet) so it is the same edge as on buying the 4 or 10 -- 1.333...% for 4% commission and 1.666...% for 5% commission.
wudged
wudged
Joined: Aug 7, 2013
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January 17th, 2014 at 4:00:18 PM permalink
Sometimes you can get them to stretch the vig even further - for example lay the 4/10 for $70 and still only pay $1 on the win.

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