buzzpaff
buzzpaff
Joined: Mar 8, 2011
  • Threads: 112
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July 20th, 2011 at 12:26:53 PM permalink
Plus you can definitely beat the house in horse racing. Like the teller who owned a race horse and when a bettor was betting large amounts on his horse, the teller advised against itm saying he owned the horse. The bettor said " keep punching those tickets. I own the other 5 horses.
Ayecarumba
Ayecarumba
Joined: Nov 17, 2009
  • Threads: 236
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July 20th, 2011 at 12:35:56 PM permalink
I have often seen players with $2500+ in action on the line. Players at this level aren't interested in the Casino Royale, or the drive to the Boulder Strip. They are more interested in the wine pairing with their Kobe steak, and whether they will take the helicopter or the Bentley to go across the street.

A question of interest though, is what is the max line bet and max odds bet at Casino Royale? I have, on occasion, seen some players rub up against a $5k odds max downtown (that would be a typical line bet for some Strip players).

There was a time when downtown's Horseshoe was the place for craps in all of Las Vegas. No minimum, No maximum, ten times odds. Why is this not a viable model for at least one niche place anymore?
Simplicity is the ultimate sophistication - Leonardo da Vinci
livetwice
livetwice
Joined: Jul 19, 2011
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July 20th, 2011 at 1:00:49 PM permalink
Quote: Ayecarumba

I have often seen players with $2500+ in action on the line. Players at this level aren't interested in the Casino Royale, or the drive to the Boulder Strip. They are more interested in the wine pairing with their Kobe steak, and whether they will take the helicopter or the Bentley to go across the street.



There is a lot of focus in this thread on what people with money are likely to do. Aside from the increased EV from hotel comps, I'm more interested in whether the odds differential at CR is sufficient to attract a serious gambler with a large roll who doesn't mind walking across the street from the Venetian. I think its a gross generalization to state that people with money never mind throwing it around. I wouldn't start playing Caribbean Stud or some other wacky carnival game just because I had a huge roll... I'd continue to care about house edge and showing a profit.

As I stated above, it seems there is a significant advantage to having a $5 pass line bet with 100x odds over a $100 pass line bet with 5x odds, especially on points of 4 and 10 where you're getting high payoff odds on a much larger percentage of your overall bet. Point after point, you're getting more than 95 percent of your overall bet paid off at true odds. Risking the same amount of money spread at 3x odds, 25 percent of your bet will be paid off 1:1. (Math check here please, but the principle should hold true even if the math is off.)

Risk of ruin should not be part of the equation when we are talking about a player who has the roll to afford the same overall bet at 3/4/5x odds down the street. We're just talking about the potential edge gained by walking across the street to CR to put more of that money behind the line.
FleaStiff
FleaStiff
Joined: Oct 19, 2009
  • Threads: 265
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July 20th, 2011 at 1:08:27 PM permalink
Why no Benny Binion's place?
Because everything in town is owned by the Evil Empire and its commitment is to "the center" not the outliers. Look at all the Indian casinos? Look at the 2x and 5x places. They do okay and jacking it up to 10x or 20x is not worth it. Look at the slots... they don't offer good gambling, they offer good graphics.

The M opened up strong... and had big losses at the craps table and the roulette wheel. No one wants to emulate Benny Binion when their MBA types tell them you'll make more money shearing the ignorant sheep than you will becoming a mecca for real gamblers.
NandB
NandB
Joined: Jan 26, 2010
  • Threads: 8
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July 20th, 2011 at 7:57:28 PM permalink
Ahh yes the "sheeple" principle. Too bad the ignorant sheeple are first in line for those cut-backs, lay-offs, and increased taxes.
"Problem in Vegas?, what problem, I don't see no problem", chant the LV MBA's.

N&B
To err is human. To air is Jordan. To arrr is pirate.

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