Quote: WongBothey must hate it when the darling of the sucker bets hits even once, let alone twice!
Yeah, don't be surprised if they lower the max bet to $5, lower the top paying odds to 500 FOR 1, and then advertise on billboards and everywhere that X amount of people won X amount of dollars just playing up to $10 on craps. That's what they did in Atlantic City with the Three Card Super Bonus bet.
Quote: AlanMendelsonI was at Caesars this past weekend, but I was a few hours late... the fire bet had hit twice at the same table in one hour. It happened Friday night. I don't know more than that -- how many players made the bet, what the payout was, etc. Caesars does pay 1,000 to 1 on all six numbers, and max bet is $10.
A random question: Would such a jackpot be similar enough to that from a slot machine to incur a W-2G?
Quote: SanchoPanzaA random question: Would such a jackpot be similar enough to that from a slot machine to incur a W-2G?
Yes, it does... so it probably didn't happen in 1 hour, unless there were only a couple of people at the table. They get the action going again relatively quickly, but they still have to collect licenses, players cards etc.
To the poster who asked if Caesars is a sweat the money joint, I was only half-kidding about it. No, they aren't Casino Royale, but casinos don't like variance turning like that unless they can spin it into a positive. If it gets more people to make the sucker bet, then great. If it hit too much, I guarantee they'd drop the payout though.
There's no way this will phase a place like CP. Unless there was a full table and everyone had $10 on the fire bet. Then maybe they would blink...
It is the same as hitting it one time in one hour. Both calculations have an arbitrary start time. The first is when someonehits the fire bet and the second being the moment you say, "NOW".Quote: CrapsForeverWhat is the probability of TWO 6 point Fire Bets at the same table in 1 hour?
At the second table I was at it took about 25 minutes.
Whether or not it actually happened in "one hour" on Friday night, I don't know. The dealers were talking about it all weekend.
I don't think Caesars will sweat it. When I arrived early Saturday morning, about 2-AM I was at a table with two other players. Along comes this older, heavy man and his buddy and they pull two chairs from an empty blackjack table and sit down at the craps table. And the big cigar smoking guy says to the dealer, "this is supposed to be my table."
they call a floorman and all I could over hear were things like "no host will be here till 6-am" and "we weren't told about it." And the next thing I saw was a security card with a special chip fill with $25,000 chips.
Two lamers get thrown on the table... each says $500,000.
Mr. Cigar Smoker gets $800,000 in $25K chips and $200k in $5,000 chips and the sign on the table is changed from $25 minimum to RESERVED.
Me and the other player are told we can keep playing but when we left no new players would be allowed. The table belonged to Mr Cigar Smoker.
Unfortunately, Mr Cigar Smoker played along with me and the other guy... $10,000 plat bets but full odds. Passline plus two working come bets. ... and we cost him since we both didn't hit repeaters.
I left and the other guy left after I did.
The next morning I asked some of the dealers if they knew what happened to Mr Cigar Smoker? No one even heard about any big wins or even if such a player was there. Such is Caesars.
Didn't the casino (or players) realize that if they bet $1 straight up, and did a full parlay, the payout is $1,295? The casino should be thrilled to be able to get away with paying only $1,000!
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Interestingly, that was the concept behind my original idea, Hit It Again.
I was told, among other things, A) Players would see right thru the shitty payments; B) Casinos don't like gimicks that pay a lot of money all at once, regardless of the edge.
Understood.Quote: winmonkeyspit3The player couldn't parlay because the maximum bet on a number is $25 on the main casino floor.
But doing the parlay math should have made it obvious how silly the casino was for pulling the bet.
I DO have interest in my Poker For Roulette idea. It's just that things progress v-e-r-y s-l-o-w-l-y.Quote: winmonkeyspit3Agreed. I'm surprised nobody has been interested in your side bet.
Thanks. I do all the design, artwork and html myself.Quote: winmonkeyspit3Your website for it is very well done.
I'll give this one a shot.Quote: CrapsForeverWhat is the probability of TWO 6 point Fire Bets at the same table in 1 hour?
First some data then a few assumptions.
The Firebet is about each shooter and there can be a different number of shooters per hour as also with the number of rolls per hour. So that forces one to deal with averages.
Firebet exact number probability
0 .593 939 393 939
1 .260 750 492 004
2 .101 275 355 549
3 .033 434 212 179
4 .008 798 178 440
5 .001 639 933 139
6 .000 162 434 749
~8 average number of points needed per shooter to hit the 6pt Firebet
5.06 (557/110) average number of rolls per point
40.7 average number of rolls needed to hit the 6pt Firebet
81.4 average number of rolls needed to hit 2, 6pt Firebets
102 average number of rolls per hour
20.6 rolls remain
8.5 (1671/196) average number of rolls per shooter
2.4 number of shooters not hitting the Firebet
4.4 shooters per hour needed on average.
The below table is a binomial and negative binomial distribution.
I think both ways can be used to answer the question.
The negative binomial distribution, I think, answers it better.
# of shooters | exactly 2 (1 in) | 2 or more | on exact shooter |
---|---|---|---|
2 | 37,900,253.7 | 37,900,253.7 | 37,900,253.7 |
3 | 12,635,470.3 | 12,634,786.1 | 18,953,205.5 |
4 | 6,318,761.5 | 6,318,077.2 | 12,637,523.1 |
5 | 3,791,872.9 | 3,791,256.9 | 9,479,682.2 |
6 | 2,528,325.9 | 2,527,778.3 | 7,584,977.8 |
7 | 1,806,240.5 | 1,805,751.5 | 6,321,841.7 |
8 | 1,354,900.4 | 1,354,460.3 | 5,419,601.8 |
9 | 1,053,982.7 | 1,053,583.2 | 4,742,922.0 |
10 | 843,323.1 | 842,957.8 | 4,216,615.6 |
11 | 690,103.7 | 689,767.4 | 3,795,570.6 |
12 | 575,179.9 | 574,868.5 | 3,451,079.3 |
We see about a 1 in 5 million chance of that happening in one hour using 102 as the number of rolls per hour. (4.4 shooters)
In reality, I think that number would be lower, as the more players and more bets slows down the game from a roll per hour standpoint.
(I bet someone could set this up as a Markov Chain and get some very accurate numbers.)
The last column, on exact shooter, means that the 2nd Firebet hit would be on exactly that shooter.
It does not matter what shooter hit it the first time, just what shooter hit it the second time.
Example: Exactly 2 6pt Firebets hit by 4 shooters = 1 in 6,318,761.5
is about the same as the 2nd 6pt Firebet being hit by the 7th shooter
For the negative binomial distribution (the number of trials before N successes)
mean: 12,312.6
var: 75,788,194.7
sd: 8,705.6
why does the fire bet have such a bad wrap?
look, two guys hit it in an hour, and as guido showed us that's more likely than winning the old california lottery which was one in 14-million.
I don't think it has a bad rap. It is very successful, and a great idea. ShuffleMaster just bought it for some ungodly-amount of money. It's bad reputation among people here is that it carries a 20-25% house edge. A royal flush may come less often but you'll lose less waiting for it.Quote: AlanMendelsonwhy does the fire bet have such a bad wrap?
That said, while I never play it, I'd love to be there when the fire bet hits twice in a row. I'll have made enough $$ already from pass/come+odds, and people will be happy.
I wish I knew.Quote: AlanMendelsonwhy does the fire bet have such a bad wrap?
Sure, it's got a high edge. Lump it in with all the other high house edge side bets. Including my Poker For Roulette bet. They are all equally stupid bets.
I do NOT believe it's the house edge so much as the duration between hitting even the smallest prize.
Hell, there is also the duration between merely placing the bet.
Frankly, I LIKE that aspect of it. It's part of the reason that it's the only side bet that I will play.
I mean, seriously. How long are you at a craps table? A few hours? In that time, how many shooters are there? Is it that big a deal to drop a buck for each shooter?
Gee, sure hope that isn't part of your brochure. LOL
It's funny you should say that.Quote: buzzpaffGee, sure hope that isn't part of your brochure. LOLQuote: DJTeddyBearIncluding my Poker For Roulette bet. They are all equally stupid bets."
About 10 years ago, there was a conference between my brothers, our wives and the staff of the nursing home where my mother had recently moved to. She's there due to a stroke leaving her paralyzed on one side. Unlike most of the residents, she still has 100% of her marbles. Anyway, part of the meeting was to discuss her needs for a larger room.
The social worker told us that she was at the top of the list for a bigger room. When we gave her our skeptical looks, she said, "It's probably not going to be a long wait. People die here all the time."
My response was, "Is that in the brochure?"
As it happened, a bigger room became available the next day.
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Anyway, I did say equally stupid. Interpret that any way you like.
If you've really paid attention, you also know that I think it's probably stupid to even set foot in a casino.
I mean, seriously. What rational person walks into a situation, where the expectation is that it's gonna cost them an unknown amount of money for.... what? The slim chance that they'll walk out ahead?
That said, I probably wouldn't bet the Poker For Roulette bet if I didn't know the inventor. Then again, I don't play Roulette to begin with. I have a good feeling that those people that DO play Roulette will fall in love with my bet, every bit as much as the crotchety old ladies who yell at you for not betting the side-bet-du-jour at the other games, when you happen to get a winner. FYI: They are crotchety because they hate to see a winning hand with no bet, and are jealous. That doesn't happen with the Fire Bet because everyone is either betting, or not, on the same thing. Ditto for Poker For Roulette.
Quote: DJTeddyBearHell, there is also the duration between merely placing the bet.
On the occasions that I have been playing the fire bet, it seems I keep putting those bets back up in rapid-fire sequence. :-)
Is it found at casinos outside of Las Vegas?
Yeah. For a while, Harrah's had an exclusive and it was available only at most Harrah's casinos. Then they started adding it to casinos that were at least 'x' miles from a Harrah's.Quote: MrVThe fire bet is not offered at the tribal casinos I frequent in Oregon and Washington.
Is it found at casinos outside of Las Vegas?
It was at Mohegan Sun as well as Foxwoods - but not at the MGM at Foxwoods section. Wierd.
Now Harrah's Caesars no longer has the exclusive, and ShuffleMaster recently bought it, so you'll probably see it in more places.
Quote: DJTeddyBearI mean, seriously. What rational person walks into a situation, where the expectation is that it's gonna cost them an unknown amount of money for.... what? The slim chance that they'll walk out ahead?
No. For the pleasure and relaxation (seriously) afforded by the various games, along with some excitement at the slim chance that you will walk out ahead.
As to the brochure, if I were a casino executive and you told me "this is a really stupid bet," I'd be pelased to be doing business with someone who understands side bets. But I wouldn't put that in the brochure for the customers. Nareed's Law: Sucker bets were not devised by suckers. :)
I get what you're saying about the relaxation part. Add entertainment and all the other buzz words that gets thrown in the mix. It's all good.
And thanks for understanding what I'm saying about the stupid factor.
Quote: DJTeddyBearAnd thanks for understanding what I'm saying about the stupid factor.
You're welcome.
I was thinking of expanding the sucker bet Law. How's this:
DJTeddyBear expansion: A good side bet promises a BIG payout and has a house edge as big as, well, as big as a house.
Quote: MrVIt seems to me that making a fire bet is akin to being able to play Keno on a craps table.
The thing is that when a Fire Bet hits, nearly everybody at the table (including those who don't play it) are happy (except for the Dark Siders, which is a lot of people on this forum). In Keno, it's hard to have a lot of group excitement; it's pretty much a solitary game. Craps is social and usually everybody is rooting for the same outcome.
I don't play the side bet; I'm pretty much a Pass Line/Odds, Come bets/odds guy. OCCASIONALLY, I place the 6-8 when it's really cold, and when it's hot, on come out rolls, I hop the 7s to protect all my come bets (what I like to call, a condom). Other than that, I'm a very boring bettor on craps. But I like to roll the dice, and for superstitious players, I'm what they like to see... consistent and able to avoid hitting chips and other obstacles (unless some idiot throws money or their hands or whatever). I'm not a dice setter, if they exist.
I've only seen the Fire Bet hit for 5 numbers.. and that I've only seen three times. Ironically, twice the player's last point to make was either 6 or 8 and they couldn't get it. The first time the guy rolled a lot of numbers too, so I did well. The second time, I barely broke even, as he was making points pretty quickly. The last time it hit, he was working a made point, but I did pretty well all the same. I think there were maybe three people playing the bet that time.
Come to think of it, I may have seen one person get 4 numbers.
Edit...BTW: Question for the math geeks. Horseshoe Southern Indiana allows you to make the bet AFTER the point has been established the first time. Does this change the odds (meaning it's better to bet it on 6-8 vs 4-10)?
this weekend i went to caesars and i actually hit the 6 point fire bet with a 5 dollar bet on the fire bet. a few trips before i hit 4 numbers but i didn't play the bet.
i rolled a 6, 5, 8 9, 10 and the last number i hit was a 4. i probably hit a total of 10 points, not exactly sure how long i rolled for but it was pretty crazy.
my only bets were 25 bucks pass, 25 odds, and 25 on the 5 and 9. my rolls made me about 700 bucks but of course the main attraction was the fire bet hit. overall i had a great time and will continue to practice and hopefully can hit at least 2-3 points consistently i think the main thing is rest, your hands need to be steady and of course some luck. anyway, i just wanted to see the odds of actually hitting 6 numbers like this. have a good night everyone. excuses the capitalization because i typing on my bed so i am being kinda lazy. later.
Now, another point: which table did you hit all six numbers on? The reason I ask is that one table in particular (there are 7 currently in use at Caesars, Las Vegas, if this is where you played) has had more 6-point fires than any other. It's only a coincidence, so don't make much of this. Just curious.
Also, regarding the fire bet going to other casinos: now that Shuffle Master owns it, I am sure it is going to be marketed to more companies. And I wouldn't be surprised to see it even at Indian casinos.
I was talking to this guy yesterday and I can tell he is a regular craps shooter, he kept calling it a monster roll. If I had pressed my bets, I would've made a lot more probably, then again I probably would have felt more pressure.
Either way, it was fun and I ended up winning all my money back from other games and a bit more.
Good luck guys, hope to learn from you guys in the future!
Quote: AcesAndEights"Life's a bitch and then you die. Or seven out." -AlanMendelson
Being quoted like that was almost as good as getting a kidney transplant. Thank you.
Any chance that Caesars generally keeps one specific table open 24/7, and that's the table in question? It would certainly explain it.Quote: AlanMendelsonNow, another point: which table did you hit all six numbers on? The reason I ask is that one table in particular (there are 7 currently in use at Caesars, Las Vegas, if this is where you played) has had more 6-point fires than any other. It's only a coincidence, so don't make much of this. Just curious.
Quote: CrapsForeverWhat is the probability of TWO 6 point Fire Bets at the same table in 1 hour?
Can't answer that, but at Hollywood Cbus a year ago, I witnessed a woman throw two 5 pointers within an hour...
Quote: Wildwillis1Last time I went down to Connecticut (6 hour drive for me) I was at the craps table at Mohegan Sun and ended up shooting all 6 points. Sadly I didn't bet the fire bet and the lady who had been betting it the whole time I was there had run off to the restroom just as I started my roll, she was some mad I tell you what. She ended up calling everyone she knew to tell then how she just missed out on 5k. I ended up ahead by a bit and 7-out on my next point. First and only time I've seen the fire bet win.
More likely had she been there you would not have shot all 6 points. Unless you would have shot the dice the exact same way and they landed the exact same way (not hitting her chips). I liken this to the RNG on slot and video poker machines, everything in your environment alters the outcome, no matter how miniscule the difference.
Of course thinking of it this way you either accept it and remain calm or don't and let it make you an "angry gambler". I prefer the former.