House Money - Friggin' FANTASTIC!

From this 5/3/12 post in the SHFL Focus Group 2 thread:

Quote: DJTeddyBear

For the record, while I was in his office, rather that cut my time short, he invited me to sit in on a 10 minute layout and logo design meeting. To give the artists an idea of the games, we played them for a couple hands. One was one of the games from the show. The other was something so ingenious, simple, elegant - not to mention very well named - that I was practically sh*tting my pants over it.

Sigh, Roger swore me to secrecy. When he announces it, or gives me the green light to talk about it, you too will say "friggin' awesome!"

From this 6/8/12 post in the same thread:

Quote: Pacman

Quote: DJTeddyBear

And he even showed me a game that wasn't part of the focus group. It's friggin' fantastic, but he swore me to secrecy.
(Hey Roger! Is it OK to talk about that yet?)

Yes.

Most seasoned gamblers, when they hear a novice who is ahead say that they are "playing with the casino's money," will chastise that person by saying that once they win it, it's THEIR money! Be that as it may, that's kinda where the name of Roger's latest creation comes from.



During my meeting, Roger played two rounds of this game for his artists, dealing hands to all three of us. It's a BlackJack side bet, where you are paid immediately if your hand is one of the winning combinations. The first hand, one of the artists got a suited Ace and King. I don't remember what it paid, but he got a nice payday for that. (The other artist and I didn't have side bet winning hands, so we didn't even bother playing it out.)

But here's the kicker. The player has the option of adding the side bet's payout to their base game bet.

In other words, his $5 side bet paid $50 (I think that's what it was). He then had the option of adding the $50, plus the $5 side bet itself, to his $5 base bet, for a total bet of $60. He then got paid $90 for his blackjack.

For his original $10 wagered, he won $140. At Blackjack.

My immediate non-verbalized thought was, "Isn't this what Buzz was talking about? Some method for a big prize at a BJ table?"

The next round, the two artists didn't have significant hands, but I had two 9s while the dealer had a 6 up. The side bet paid, I think $10. I took that $10 plus the $5 bet and added it to the $5 I had out there for a $20 bet. Splitting 9s against a 6 is a no-brainer, right? So I split, needing to bet $20 for the second hand. It cost $20 rather than $5 had I not played the side bet or not capped my bet, 9s against a 6 is a GREAT hand to split. The first hand drew a 10 for a total of 19. Not bad. The second hand drew an Ace. Gotta double down, Right? So I pushed out another $20. I don't remember what I drew, but I remember the dealer's hand. He had a 6 up, and turned over a face card. Super! He's got 16, the best I could hope for.

Do I really need to tell you what he drew? Sigh... Let's just say I was glad I was playing with fake chips.


No offense to Roger. The mechanism used to pay the side bet could have been any run of the mill BJ side bet.

The "beauty" of this bet is that it allows players to do something that will ordinarily get you kicked out, if you're lucky, or arrested, if you're not.

It allows you to add chips to your bet after seeing your cards. Mind you, you can only add the side bet's payout and bet. Nothing additional from your stack. But it's still cool. Note that you don't have to add it all to the base bet. You can bet part and keep the rest.


And despite my personal bad luck with it for one hand, it seems obvious to me that it's going to be a winner.


Because this meeting was to allow the artists to get an idea so they could design a logo, my own design gears have been turning ever since. I envision an A frame type house with a dollar sign of the same size, drawn in a funky graphitti style. If it were me, I'd try to match the style used on the titles of the old House Party movies.

I look forward to seeing what the actual logo looks like.

Quote: DJTeddyBear

From this 5/3/12 post in the SHFL Focus Group 2 thread:
From this 6/8/12 post in the same thread:

Most seasoned gamblers, when they hear a novice who is ahead say that they are "playing with the casino's money," will chastise that person by saying that once they win it, it's THEIR money! Be that as it may, that's kinda where the name of Roger's latest creation comes from.



During my meeting, Roger played two rounds of this game for his artists, dealing hands to all three of us. It's a BlackJack side bet, where you are paid immediately if your hand is one of the winning combinations. The first hand, one of the artists got a suited Ace and King. I don't remember what it paid, but he got a nice payday for that. (The other artist and I didn't have side bet winning hands, so we didn't even bother playing it out.)

But here's the kicker. The player has the option of adding the side bet's payout to their base game bet.

In other words, his $5 side bet paid $50 (I think that's what it was). He then had the option of adding the $50, plus the $5 side bet itself, to his $5 base bet, for a total bet of $60. He then got paid $90 for his blackjack.

For his original $10 wagered, he won $140. At Blackjack.

My immediate non-verbalized thought was, "Isn't this what Buzz was talking about? Some method for a big prize at a BJ table?"

The next round, the two artists didn't have significant hands, but I had two 9s while the dealer had a 6 up. The side bet paid, I think $10. I took that $10 plus the $5 bet and added it to the $5 I had out there for a $20 bet. Splitting 9s against a 6 is a no-brainer, right? So I split, needing to bet $20 for the second hand. It cost $20 rather than $5 had I not played the side bet or not capped my bet, 9s against a 6 is a GREAT hand to split. The first hand drew a 10 for a total of 19. Not bad. The second hand drew an Ace. Gotta double down, Right? So I pushed out another $20. I don't remember what I drew, but I remember the dealer's hand. He had a 6 up, and turned over a face card. Super! He's got 16, the best I could hope for.

Do I really need to tell you what he drew? Sigh... Let's just say I was glad I was playing with fake chips.


No offense to Roger. The mechanism used to pay the side bet could have been any run of the mill BJ side bet.

The "beauty" of this bet is that it allows players to do something that will ordinarily get you kicked out, if you're lucky, or arrested, if you're not.

It allows you to add chips to your bet after seeing your cards. Mind you, you can only add the side bet's payout and bet. Nothing additional from your stack. But it's still cool. Note that you don't have to add it all to the base bet. You can bet part and keep the rest.


And despite my personal bad luck with it for one hand, it seems obvious to me that it's going to be a winner.


Because this meeting was to allow the artists to get an idea so they could design a logo, my own design gears have been turning ever since. I envision an A frame type house with a dollar sign of the same size, drawn in a funky graphitti style. If it were me, I'd try to match the style used on the titles of the old House Party movies.

I look forward to seeing what the actual logo looks like.

Sounds like a fun side bet. Doubling down on a soft 20, what were you thinking? :)

Quote: winmonkeyspit3

Sounds like a fun side bet. Doubling down on a soft 20, what were you thinking? :)

I was thinking that I'm playing with fake chips. And that 9+1=10. And that I didn't want to pull out my Wiz strategy card in the middle of this meeting. Or something like that.....

Quote: DJTeddyBear

I was thinking that I'm playing with fake chips. And that 9+1=10. And that I didn't want to pull out my Wiz strategy card in the middle of this meeting. Or something like that.....

Fair enough, just looked strange as I read your post.

Quote: DJTeddyBear

I look forward to seeing what the actual logo looks like.

My guess is that this is the temporary logo that was included in the investors presentation late this week.....it is listed on slide 27 (sorry, didn't see a way to link a skip to slide 27, but for the investors out there, SHFL is doing a lot these days as illustrated in all the slides).

SHFL Investor Presentation

Interesting concept in "House Money" particularly the option to add to the main bet. I believe in the "Shortie" BJ side bet (which I think was created by one of the presenters at next weeks SHFL Focus Group, he is bringing a different game to exhibit), you were required to add the winnings to your main bet. It was the one thing I didn't like about the Shortie bet as you essentially had to win twice to get paid, but you got paid a good amount due to the multiplier effect. That multiplier effect is present in "House Money" as well, but it sounds like you have the option to use it or not.

I will be interested in the full description and math once that comes out before I make a final decision on it, but it sounds very promising.

Quote: winmonkeyspit3

Sounds like a fun side bet. Doubling down on a soft 20, what were you thinking? :)

Quote: DJTeddyBear

I was thinking that I'm playing with fake chips. And that 9+1=10. And that I didn't want to pull out my Wiz strategy card in the middle of this meeting. Or something like that.....

I was thinking the same thing as winmonkeyspit3 :). For the record, you double a soft 19 against a 6 on a H17 game, but you never double a soft 20 against anything under basic strategy and any variation of "normal" rules (that I can think of).

The more I think about it, I think I might have stood on that soft 20. The bottom line is, the dealer drew a 5 to his 16 and killed me.


OK, now that we're past THAT what do you think of the House Money concept?

Quote: DJTeddyBear

The more I think about it, I think I might have stood on that soft 20. The bottom line is, the dealer drew a 5 to his 16 and killed me.


OK, now that we're past THAT what do you think of the House Money concept?

That's an awesome concept. Is the side-bet mandatory? What is the mechanism for overcoming the change in the HE on the BJ game?

It's not my game. I only saw two hands play to get the concept from a players perspective.

But I *think* the advantage given to a player who caps their bet on the regular game is not enough to overcome the edge on the side bet.

Quote: DJTeddyBear

It's not my game. I only saw two hands play to get the concept from a players perspective.

But I *think* the advantage given to a player who caps their bet on the regular game is not enough to overcome the edge on the side bet.

Precisely what I was thinking, the side bet HE must be HUGE. And I'm assuming it doesn't pay out all that often either. You can't give the players THAT much of a chance for a huge payday.

I've come to realize however, players would much rather play high house edge bets for big paydays rather than smaller house edge for smaller wins.

Sounds like a fun side bet, but kind of a game security nightmare for the dealer. I suppose with detailed instructions like: you're only allowed to cap your bet immediately after resolving the side bet the problem would be reduced, but players are always trying to do stuff when they shouldn't and if they believe they're allowed to add to their bet they will try to do it when they shouldn't. Some shot takers might even try to reduce their bet on a less than optimal hand and claim when caught that they were trying to add to it. Sorry, shucks, I didn't know I couldn't do that...

Do you know when Shufflemaster plans to have it available?

Thanks for the plug, DJ. Here are the payouts:

Straight: 1 to 1
Pair: 3 to 1
Straight Flush: 4 to 1
Ace-King Suited: 9 to 1

Win frequency is 23%.

Bet is optional. Players may cap none, some or all proceeds.

Look for House Money to roll out soon in California, Nevada and Missouri.

Quote: Pacman

Look for House Money to roll out soon in California, Nevada and Missouri.

Can you tell us which casinos specifically?

Side bets are sucker bets. Period.

Quote: 1BB

Side bets are sucker bets. Period.

No argument here. I said the same thing about my own Poker For Roulette side bet. (Look for my improved version and updated website by the end of the weekend).

But the fact of the matter is, a lot of people like them, and I think this one's a winner.

Quote: DJTeddyBear

No argument here. I said the same thing about my own Poker For Roulette side bet. (Look for my improved version and updated website by the end of the weekend).

But the fact of the matter is, a lot of people like them, and I think this one's a winner.

If by winner you mean a lot of fun I agree.

I had a thought on the issue of bet capping. Once the first two cards are dealt, anyone who is eligible and wishes to add to their bet verbally communicates that to the dealer. The dealer then handles all the chips. Let's use the surrender option as an example. The player who wishes to surrender doesn't reach out and take half his bet back. He tells the dealer who handles it himself.

Quote: 1BB

Side bets are sucker bets. Period.

Side bets aren't sucker bets, much in the same way main game bets aren't sucker bets either.

Any gambling bet is a sucker bet, or it is not, if you don't mind paying to play.

Quote: Paigowdan

Side bets aren't sucker bets, much in the same way main game bets aren't sucker bets either.

There's a difference between the quality of a bet with a HE of 0.46% and a bet with a HE of 25%...

Dan, thanks for clarifying that. I'm trying to remember the website I read that on. Wait, it's coming back to me. Wizard of Odds. The Ten Commandments of Gambling. Commandment#9.

Touche'

I think DJTeddyBear should get a 3 day suspension for taking the dealer's break card on that Double Down !

" There's a difference between the quality of a bet with a HE of 0.46% and a bet with a HE of 25%... "

SIGH No evenBob comment.

Hit rate at 23% is good for a side bet and a feature that is missing from many side bets.

Players know that they are getting hammered by a high HE on side bets, but if they are getting paid almost every 4 hands, they don't feel that HE as severly.

It has always amazed me that Lucky Ladies is so prevalent (although you don't see too many players playing it anymore) with a hit rate below 11% and an HE of almost 25%. Let's see.....I am going to wait 9 hands before I win anything and still face a 24% HE. Unless you are counting, I don't know why anyone plays Lucky Ladies when Keno is still available!

Contrast this with Lucky Lucky with a 2.7% HE and a 24.7% hit rate. No wonder DEQ picked this game up from Gaming Network....this is a side bet that makes sense to many players.

If I understand the rules correctly, House Money offers almost a 24 to 1 top payout when you consider that with the AK suited, you are very likely to take your 9 unit winnings along with your 1 unit original bet and cap the entire 10 units on to your main wager. A vast majority of the time (someone help me here with the odds of facing a dealer BJ) you will then be paid another 15 units in the main bet part of this wager for a net win of 24 units. This will occur on a hand that will show up about once every 331 hands (again math guys, please confirm). Based on Wiz's hands per hour calculator, it looks like you are going to see that hand on the table about once per hour.....that is going to be a powerful incentive for players to want to make this bet.

I agree DJ.....House Money could be well received by the market. Let's hope it doesn't have a 24% HE and they may actually have a side bet gets played!

Quote: Paradigm

It has always amazed me that Lucky Ladies is so prevalent (although you don't see too many players playing it anymore) with a hit rate below 11% and an HE of almost 25%.

Around my local casinos, Lucky Ladies still gets a ton of action.

Sounds awesome. Any idea what the HE is like?

Oscar

I watch people play lucky ladies all the time, I always cringe. I was at a no side bet table, and watched the lucky ladies combo get dealt, me and the guy it was dealt to marvled at its appearance, and then both said we'd never have played Lucky Ladies if we'd been at one of those tables.

Quote: oscar33

Sounds awesome. Any idea what the HE is like?

Oscar

The house edge for Lucky Ladies is around 25% depending on the pay table and can be beaten by counting. Hi-Lo will do it. There are some who play just for this side bet.

Thanks, but I am interested in the HE for House Money.

Oscar

Quote: oscar33

Thanks, but I am interested in the HE for House Money.

Oscar

5 percent

Quote: Pacman

5 percent

5% HE and Hit Rate of 23%.......that is a very nice combination.

Great game name!

A sense of having the option/control to double your winnings by parlaying them on to your BJ hand when you already know your two cards and the dealer's upcard.

This side bet concept has a lot of attractive features, will be interesting to see how it is received when it is rolled out. Hopefully we will see it out in CA as SMI seems to use CA casinos as a regular testing ground.

Quote: Paradigm

Interesting concept in "House Money" particularly the option to add to the main bet. I believe in the "Shortie" BJ side bet (which I think was created by one of the presenters at next weeks SHFL Focus Group, he is bringing a different game to exhibit), you were required to add the winnings to your main bet. It was the one thing I didn't like about the Shortie bet as you essentially had to win twice to get paid, but you got paid a good amount due to the multiplier effect. That multiplier effect is present in "House Money" as well, but it sounds like you have the option to use it or not.

You might have mistaken Shortie side bet. For the Shortie side bet, you do not have to add the "winnings" to your main bet. You just have to keep the original side bet on the table and continue playing the game of 21 - all Blackjacks have been resolved by now.

When your first 2 cards score 9 or lower, a Shortie, you get 3 to 1. Then the side bet wager stays as part of the overall wager for the 21 game. If you win the 21 game, the main bet gets even money, but the side wager gets 2 to 1. In other words, the first payout is made because you're lucky. The 2nd payout is made because you're skillful in blackjack. In sum, being "lucky and skillful" gets a total of 5 to 1, being "lucky and OK (21 hand pushes)" gets 3 to 1, being "lucky and normal (21 hand loses)" gets 2 to 1 - every Shortie is paid. The house edge is 5-7%, hit rate 21%. We also have a version that defines Shortie as 8 or lower. The hit rate is 16%. Thanks.

My apologies etablegames.....I appear to have been confused on the Shortie bet.

To confirm my understanding based on the above, if you lose your main BJ hand but had a Shortie after your first two cards are dealt (i.e. your first two cards are less than 9), then your Shortie is paid 3 to 1 and you get to keep the 3 to 1 payout even if your main BJ Hand loses (but you will lose the original Shortie bet if your main BJ bet loses)?

I think that is right as I just went back and looked at your video....not sure why I was confused on the facts. Again, I apologize for posting misinformation and appreciate you correcting it.

The Shortie Bet looks much more attractive to me now that I fully understand the concept.

Quote: Paradigm

To confirm my understanding based on the above, if you lose your main BJ hand but had a Shortie after your first two cards are dealt (i.e. your first two cards are less than 9), then your Shortie is paid 3 to 1 and you get to keep the 3 to 1 payout even if your main BJ Hand loses (but you will lose the original Shortie bet if your main BJ bet loses)?

I think that is right as I just went back and looked at your video....not sure why I was confused on the facts. Again, I apologize for posting misinformation and appreciate you correcting it.

The Shortie Bet looks much more attractive to me now that I fully understand the concept.

Correct. If your first 2 cards score a total of 9 or lower, the side bet is paid and the payout to the player is collected right way (only the payout, not the original wager) and the original bet stays in the play of the main game. Thanks.

BTW, I did present 2 Way Blackjack in SHFL-2 and have received good feedback. This new game is trying to make Blackjack less or non-boring. But, most evaluators think the game is too complicated for casual players.

If the HE is 5% with a hit rate of 23%, then where is the other 18% being absorbed? I understand the edge with respect to the side bet, but I'm interested in finding out how this feature affects the standard game of blackjack? It appears as though the core element of House Money, is to simply allowing a player the option to cap his/her bet after seeing the first two cards, in certain situations, -- unless I'm totally missing something. If this is the case, this feature somehow presents an advantage to the house, then why wouldn't a casino simply allow that method of play right now ? Why don't casinos already allow players to cap bets in the standard game of blackjack if it would present an advantage to the house anyway? As a player, I find House Money to be extremely attractive but it seems as if casinos would get taken to the cleaners on the core game of blackjack. Please help me understand what I'm missing. Thanks!

Quote: doubleluck

If the HE is 5% with a hit rate of 23%, then where is the other 18% being absorbed? I understand the edge with respect to the side bet, but I'm interested in finding out how this feature affects the standard game of blackjack? It appears as though the core element of House Money, is to simply allowing a player the option to cap his/her bet after seeing the first two cards, in certain situations, -- unless I'm totally missing something. If this is the case, this feature somehow presents an advantage to the house, then why wouldn't a casino simply allow that method of play right now ? Why don't casinos already allow players to cap bets in the standard game of blackjack if it would present an advantage to the house anyway? As a player, I find House Money to be extremely attractive but it seems as if casinos would get taken to the cleaners on the core game of blackjack. Please help me understand what I'm missing. Thanks!

If there were no option to add winning side bets to the main wager, the side bet would have a house edge of about %26. The 5% house edge assumes the player knows when to press their main bet and when to keep it.

Quote: miplet

If there were no option to add winning side bets to the main wager, the side bet would have a house edge of about %26. The 5% house edge assumes the player knows when to press their main bet and when to keep it.

And that's permitted, no issues? I get the idea, but wasn't sure if NGC takes such tricks into account for max side bet HA.
Is there some limitation on the main:side bet ratio?

I fully understand this option lowers the HE to a reasonable percentage on the side-bet only. However, my true question is how does this "capping element" affect the game of blackjack itself? If the house were able to gain an advantage over the player by allowing them to wager more money, then why do casinos across the globe prohibit the practice of capping bets? Conversely, if capping bets somehow gives the house an advantage by allowing the player to wager more money and raise the average bet per hand, then why not simply allow players to do it now without having to pay a licensing fee for a proprietary game?

Quote: doubleluck

If the house were able to gain an advantage over the player by allowing them to wager more money, then why do casinos across the globe prohibit the practice of capping bets?

Because the two concepts are not mutually exclusive.

Let me put it this way: If you had a blackjack, would you cap your bet if allowed? Of course you would. How long would the casino last if they let you?

But if you had a 4 & 7 and the dealer showed a 6, would you cap your bet? Yep. But in this case, the rules dictate certain conditions. The "Cap" is only to double your bet, and you only get one card.

It's the same for House Money. Under this specific set of rules (making a high house edge side bet and using all or part of the proceeds to cap the bet) are you allowed to cap the bet.


It's all in the rules.

" It's the same for House Money. Under this specific set of rules (making a high house edge side bet and using all or part of the proceeds to cap the bet) are you allowed to cap the bet. "

This may not be allowed in jurisdictions where there is a limit on how much you can bet on a hand !

Here is an overview of House Money Blackjack. (For those of you who attended SHFL Focus Group 1, this was the game we scratched at the last minute.)

1. Players make the optional House Money wager for any amount within table limits.
2. Players get two cards.
3. Players win on the following hands:

Ace-King Suited: 9 to 1
Straight Flush: 4 to 1
Pair: 3 to 1
Straight: 1 to 1

4. Players then have the option to collect the proceeds from the House Money bet or add them--or part of them--to their standard blackjack wager.
5. House rules for blackjack apply. Players may split, double-down, etc., just as they would on any other table.

Note: If the player gets AK or AK suited, he would add the proceeds to his blackjack wager and get paid 3 to 2 on the aggregate amount.

The house edge is 5% and the hit frequency is 24%.

House Money will soon (July or August) debut in the following markets: Nevada, California, Missouri, Kansas and Washington.

Quote: buzzpaff

This may not be allowed in jurisdictions where there is a limit on how much you can bet on a hand !

Buzz, you're talking about areas where the state mandates a bet limit right? And it's usually something silly like $100 or less, right?

I'd say that it doesn't matter. When you take the House Money proceeds and cap the BJ bet, it's all part of the rules. Additionally, the amount of the original bet for that one hand is still well within the limit.

Of course, if those states decide to interpret it as you are interpreting it, then there will be a lower limit on the House Money bet, or House Money wont be offered in that state.

I'm sure those whacky states are the least of Roger's worries.

Quote: Pacman

1. Players make the optional House Money wager for any amount within table limits.

Any amount?

Can a player bet the table minimum on the BJ bet and the table maximum on House Money?

If so, can the player then use ALL of the House Money proceeds to cap his BJ bet?

(Yes, I realize I'm kinda questioning my own response to Buzz above.)

Quote: DJTeddyBear

Any amount?
Can a player bet the table minimum on the BJ bet and the table maximum on House Money?

I guess he can. Don't see how that would give him an advantage.
The side bet works off the same cards as main blackjack. You can view it this way: it's another game, where you can then use your winnings to play a bonus game with blackjack rules.

Quote: P90

I guess he can. Don't see how that would give him an advantage.
The side bet works off the same cards as main blackjack. You can view it this way: it's another game, where you can then use your winnings to play a bonus game with blackjack rules.

This is where I don't quite "get it". I don't see how this side bet can truly be viewed as "another game" when the player is able to use his side bet winnings on the MAIN game. Consequently, the MAIN game is now being significantly altered because a player is able to make a decision as to how much he wants to wager after seeing his first two cards AND the dealer upcard. Blackjack is already a volatile game in the eyes of many, this feature only seems to make it more volatile. However, if and when the game is placed ANYWHERE, please give me the property name so I can fly out and make some HOUSE MONEY!

I think I'm seeing a trend here. Switch came up with a game where the house supplies money for doubles and splits, if I recall correctly.

So here's the chance for game inventors: a craps bet that can be used to place or lay odds. Hurry.

Quote: DJTeddyBear

Because the two concepts are not mutually exclusive.

Let me put it this way: If you had a blackjack, would you cap your bet if allowed? Of course you would. How long would the casino last if they let you?

But if you had a 4 & 7 and the dealer showed a 6, would you cap your bet? Yep. But in this case, the rules dictate certain conditions. The "Cap" is only to double your bet, and you only get one card.

It's the same for House Money. Under this specific set of rules (making a high house edge side bet and using all or part of the proceeds to cap the bet) are you allowed to cap the bet.


It's all in the rules.

I realize it's in the rules of House Money. However, my question points to a much bigger one. Why DON'T casinos already allow this? Blackjack has been changed and refined many times over the years. In the game's infancy stage, the house acted first and the players acted last -- that changed. Secondly, The house used to pay 10-to-1 on an Ace of Spades and a BLACK jack -- that changed. Natural BJs used to always pay 3 to 2 and now some games pay 6 to 5. Next, the game was only initially played with a single-deck now multiple decks are the norm -- so that changed. Table limits, cut cards, and shuffle machines all were added to "protect" the game -- which are more changes. Why did all these changes take place? My belief is that the changes were made to give the house a bigger advantage-- period.

So, my intial question still remains -- if bet capping is beneficial to the house, then why don't casinos already allow it? If a casino found that it gained an advantage by allowing players to cap their bets after seeing their initial two cards and the dealer up card OR allowing them to double down for more (which is allowed in House Money), why don't they allow these actions already and save themselves the monthly royalty for a side bet?

NOW I get the question (I think).

It's because the casino isn't arbitrarily letting you cap the bet.

It's letting you take the proceeds from a high house edge side bet, and use that, and that alone, to cap your bet.

I.E. Before being given the opportunity to cap the bet, you have to make, and win, a high house edge bet.

The entire gimick is to get players to make that high house edge side bet. THAT'S where they get the additional profit, some of which they filter back to the player if their capped bet wins.

Note that, with the exception of the BJ that pays the side bet (and not all do), if you cap the bet, you can still lose the BJ hand - along with the winnings from the side bet used to cap the bet.

Quote: DJTeddyBear

NOW I get the question (I think).

It's because the casino isn't arbitrarily letting you cap the bet.

It's letting you take the proceeds from a high house edge side bet, and use that, and that alone, to cap your bet.

I.E. Before being given the opportunity to cap the bet, you have to make, and win, a high house edge bet.

The entire gimick is to get players to make that high house edge side bet. THAT'S where they get the additional profit, some of which they filter back to the player if their capped bet wins.

Note that, with the exception of the BJ that pays the side bet (and not all do), if you cap the bet, you can still lose the BJ hand - along with the winnings from the side bet used to cap the bet.

So if a player doesn't get a natural, why not let players double for more since their hands are not already winners?

This is a simple concept, like "double" or "nothing". Capping the bet gives the house a chance to take back House Money and gives the player the joy of having a hope to make more. Win-win..

Quote: doubleluck

So, my intial question still remains -- if bet capping is beneficial to the house, then why don't casinos already allow it?

Optional bet capping by the player is not beneficial to the house, it is beneficial to the player.

House Money side wager has such a large initial House Edge, 26% per Miplet, that allowing the player to cap their original bet only when they win the side bet first drops the overall house edge on the side bet from 26% to 5%......it doesn't change the house edge on the main bet because you can only add to the main bet once you have "won" on House Money when facing a 26% house edge first.