snowngr
snowngr
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July 28th, 2011 at 12:47:30 PM permalink
I have a charitable casino nearby that has low minimums and maximums and pays 3 to 2 on a winning 5 or 9 place bet. That win is usually 7 to 5, right? 3 to 2 is the same as 7 1/2 to 5. The tradeoff is the 6 & 8 pay only even money on a winning place bet, but one can of course simply choose not to place those numbers. I feel silly for having not looked to see what the 4 and 10 payoff was.

Supposing 5 & 9 do have a positive expectation, could someone better at math than me calculate two things for me: If I bet $4 on the pass line and place the 5 & 9, what is the overall house edge? Second, if 5 & 9 do have a positive expectation, what is the optimal strategy for betting them? Keep the bets up till the table 7ms out or take them down after getting paid once?

Thanks for any help.
MrRalph
MrRalph
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July 28th, 2011 at 12:49:46 PM permalink
There is no bet on the table that has a positive expectation. I will let the math gurus on this site do the numbers for you.
MathExtremist
MathExtremist
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July 28th, 2011 at 12:54:32 PM permalink
Hint: what's the payout on the free odds bet on the 5?
"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
SOOPOO
SOOPOO
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July 28th, 2011 at 1:16:54 PM permalink
Quote: snowngr

I have a charitable casino nearby that has low minimums and maximums and pays 3 to 2 on a winning 5 or 9 place bet. That win is usually 7 to 5, right? 3 to 2 is the same as 7 1/2 to 5. The tradeoff is the 6 & 8 pay only even money on a winning place bet, but one can of course simply choose not to place those numbers. I feel silly for having not looked to see what the 4 and 10 payoff was.

Supposing 5 & 9 do have a positive expectation, could someone better at math than me calculate two things for me: If I bet $4 on the pass line and place the 5 & 9, what is the overall house edge? Second, if 5 & 9 do have a positive expectation, what is the optimal strategy for betting them? Keep the bets up till the table 7ms out or take them down after getting paid once?

Thanks for any help.



5 and 9 have a zero expectation of gain at 3:2. That being said, it is also a zero expectation of loss, too.
boymimbo
boymimbo
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July 28th, 2011 at 1:19:11 PM permalink
Math math math.

There are 4 ways to throw a 5 or 9. There are 6 ways to throw a 7.

House advantage, place 5 and 9, 7-5 payout: 1.4 x (4 / (4+6)) - 1 x (6 / (4+6) = (5.6 - 6) / 10 = -.4 / 10 = 4%.

Go ahead and do the math on 3-2 payout.

On the pass line, it's always 1.414 percent with no odds.

Putting them together depends on whether you leave the 5 and 9 "on" during the comeout roll.

-Tim
----- You want the truth! You can't handle the truth!
dwheatley
dwheatley
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July 28th, 2011 at 2:13:02 PM permalink
You could skip the pass line and just play the 0 edge 5 and 9 all night long. But that wouldn't be very charitable... :)
Wisdom is the quality that keeps you out of situations where you would otherwise need it
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