Is Craps the Best Game in the Casino?
"It's this ability to pile up variance without increasing expected loss that makes craps so attractive to many gamblers."
Placing full odds on every bet reduces the edge of craps to blackjack levels (0.37) while at the same time the standard deviation is much higher (5 times?).
Also, the skew is close to zero so the standard deviation works for you unlike slots or video poker.
Is there any game that comes close to this in the casino in terms of having both a low edge and a high SD?
Am I missing something?
Quote: JesusThis is what was meant by His "seamless" garment. Jesus' tunic was of this new kind, and the soldiers decided that the garment was too valuable to throw away; so in fulfillment of Psalm 22:18 they threw dice for Jesus' meager belongings.
I bought in initially for $666 dollars a couple of weeks ago and it ended up being a serious bloodbath. I would share the amount I lost, except that too many people would derive pleasure from knowing the details.
Let's just say Jesus was laughing.
Quote: longtimelancerI found this quote from goatcabin:
"It's this ability to pile up variance without increasing expected loss that makes craps so attractive to many gamblers."
Placing full odds on every bet reduces the edge of craps to blackjack levels (0.37) while at the same time the standard deviation is much higher (5 times?).
Also, the skew is close to zero so the standard deviation works for you unlike slots or video poker.
Is there any game that comes close to this in the casino in terms of having both a low edge and a high SD?
Am I missing something?
It's hard to beat craps with full odds for low house edge and high variance. Certain games of blackjack would technically be better, if you can learn the basic strategy and a simple count.
Quote: andyg99Never played the game until 2 years ago... yes, it's the best game in the casino....
I like it. Would sometimes prefer a chair. Would sometimes like to kill a few of the other players. Overall though it does offer great fun, good profit potential, compares very favorably with other casino offerings other than those that require an ability to count cards and conceal one's skills. A large bankroll helps, some good luck helps even more and frankly sometimes nothing helps me, but I still like the game.
Quote: WizardI think that is the most frequent question I get. Heard it hundreds of times. While it really depends on the rules at the particular casino in blackjack, craps, and video poker, if you put a gun to my head and forced to me say one game, it would be craps.
HOLY GUACAMOLE!
Now then: where can one find guacamole like that in Las Vegas?
Quote: AhighHOLY GUACAMOLE!
I don't understand how people can eat that crap. That and Hummus.
As for craps, now that I understand the game I really like it. If I go to a casino with $200 and only have 2 hours to play I really struggle on which game to play. Since I am PA and can play a 6 deck shoe I should probably stick to BJ but craps is much more fun.
Quote: GWAESince I am PA and can play a 6 deck shoe I should probably stick to BJ
PA has good BJ rules but the variance in BJ is too low. In my book that makes PA BJ playable "once in a while" ... meanwhile the 10x with $5 min on the craps we played at the Meadows shines much brighter
Quote: SkittleCar1It also has the only bets in the casino with zero house advantage.
That's not true at all. The play bet in UTH often has a massive player expectation. In Mississippi Stud, you can often make bets that are guaranteed to win, and pay back many times your bet.
Of course you must make negative expectation bets first, in order to make these "good" bets, but that's no different from craps.
Quote: GWAEI don't understand how people can eat that crap. That and Hummus.
I know it's off topic, but really? Delicious food is delicious!
Wow that's going to get twisted.Quote: WizardI think that is the most frequent question I get. Heard it hundreds of times. While it really depends on the rules at the particular casino in blackjack, craps, and video poker, if you put a gun to my head and forced to me say one game, it would be craps.
Got something against avocados?Quote: GWAEI don't understand how people can eat that crap.Quote: AhighHOLY GUACAMOLE!
One of the most nutritious and best tasting foods available.
Just remember to quit, when you are ahead the max. That's the key.
Quote: BeardgoatCraps is my favorite game. But I don't have a big enough bankroll to play the way I want to. I buy in for $300 and like to play passline with 2 come bets. Sometimes I am wiped out in like 10 minutes.
The answer is simple. Either play differently, or less frequently (and only when you have saved sufficient bankroll).
Quote: BeardgoatCraps is my favorite game. But I don't have a big enough bankroll to play the way I want to. I buy in for $300 and like to play passline with 2 come bets. Sometimes I am wiped out in like 10 minutes.
The buy in is good, you need to double the amount you are betting.
Quote: MrVThe answer is simple. Either play differently, or less frequently (and only when you have saved sufficient bankroll).
I like this picture, a LOT of high rolling come bet action. 10 Easy, down behind the ten, pay those come bets!
Quote: richbailey86is video poker that good? ive never played it
No money in video poker, everyone's solid.
Green usually indicates 25.00 chips but those green edged beige chips are a grand apiece. I assume teh reds are fives but that might be well below that table's minimums, particularly if the purple banded Buy bet represents Barnies. Four grand behind the line and one of the bets is without odds.
Fleastiff will apply to have his nick changed to Gullible.Quote: IbeatyouracesI don't think it's a real casino.
Quote: BuzzardWhat a boring,boring, boring game. Roll the dice, add the two numbers. F***ing boredom personified.
As opposed to Choose Player or Choose Banker?
As opposed to Choose Red or Choose Black?
As opposed to Push Red Button or Caress Red Button Some More First?
As opposed to Perform Basic Arithmetic While Staring at Dealer's Cleavage?
As opposed to Sit At Table Until Discovering You Are The Biggest Fish?
YES !
All fish at the craps table, no player has an edge. DUH
Quote: FleaStiffWhat casino is that???
The chips appear to say "Caesars Palace" and "Las Vegas, NEV", but the colors don't look right. The $100 chips don't appear to be the usual black, so I suspect it is a promo shot not using their regular chips.
Quote: BuzzardWhat a boring,boring, boring game. Roll the dice, add the two numbers. F***ing boredom personified.
Come on man. I don't agree with PaiGowDan all that often, but one thing I agree with him about is that craps has juice. No game has juice like craps.
Quote: FleaStiffAs opposed to Choose Player or Choose Banker?
As opposed to Choose Red or Choose Black?
As opposed to Push Red Button or Caress Red Button Some More First?
As opposed to Perform Basic Arithmetic While Staring at Dealer's Cleavage?
As opposed to Sit At Table Until Discovering You Are The Biggest Fish?
lol this is great.
Quote: FleaStiffAs opposed to Perform Basic Arithmetic While Staring at Dealer's Cleavage?
I'm ok with that one.
Big difference between ignorant drunken ploppies and us would-be advantage players.
Quote: FleaStiffWhat casino is that???
Green usually indicates 25.00 chips but those green edged beige chips are a grand apiece. I assume teh reds are fives but that might be well below that table's minimums, particularly if the purple banded Buy bet represents Barnies. Four grand behind the line and one of the bets is without odds.
Those look like the "no cash value" chips that Caesars Palace uses for poker tournaments.
Quote: longtimelancerthe skew is close to zero
Skew is one of those terms used in evaluating games that has always mystified me.
I get a glimmer at wikidpedia, see link, but it's over my head for the most part. "Skew for Dummies" has not been written. Can anyone simplify this for us dummies?
oops, http://en.wikipedia.org/wiki/Skewness
Quote: odiousgambitSkew is one of those terms used in evaluating games that has always mystified me.
Think of that fair coin that is being tossed over and over again... you know the "count" will always be near 50 percent but practically everytime you look at it the results will NOT be exactly 50 percent each for heads and tails.
If there is a pronounced skewness then we begin to view the coin as biased since skew is significant and persistent rather than a transient small deviation from the expected fifty percent mark.
Quote: FleaStiffThink of that fair coin that is being tossed over and over again... you know the "count" will always be near 50 percent but practically everytime you look at it the results will NOT be exactly 50 percent each for heads and tails.
If there is a pronounced skewness then we begin to view the coin as biased since skew is significant and persistent rather than a transient small deviation from the expected fifty percent mark.
OK, that is almost a common sense use of the word skew, but in the usage that the OP is referring to, used in statistics, well, it doesnt seem to be the same thing. Games are compared where no bias is suspected at all, yet have different skew.
