777
777
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Joined: Oct 7, 2015
November 18th, 2015 at 2:55:39 PM permalink
Several side bets have big payout spreads. One example is craps' Fire Bet payout shown below (source WoZ, https://wizardofodds.com/games/craps/appendix/5/ ):

Point A B C
Made Payout Payout Payout
3 -1 -1 6
4 24 10 29
5 249 200 149
6 999 2000 299
Total -0.207628 -0.248562 -0.207295
Return

All payouts A, B, and C above yield comparable return for the house. To help me understand better about the game design and human psychology, I have the following questions, which payout options do you prefer from a player AND house’s perspective? And why?
beachbumbabs
beachbumbabs
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Joined: May 21, 2013
November 18th, 2015 at 7:15:58 PM permalink
Quote: 777

Several side bets have big payout spreads. One example is craps' Fire Bet payout shown below (source WoZ, https://wizardofodds.com/games/craps/appendix/5/ ):

Point A B C
Made Payout Payout Payout
3 -1 -1 6
4 24 10 29
5 249 200 149
6 999 2000 299
Total -0.207628 -0.248562 -0.207295
Return

All payouts A, B, and C above yield comparable return for the house. To help me understand better about the game design and human psychology, I have the following questions, which payout options do you prefer from a player AND house’s perspective? And why?



As a player, I like a bet that pays as often as possible, so I like C slightly better than A, and B the least. It's nice to have a huge top pay, but how often you see it (rare, if ever) is a strong negative, at the expense of better pays at lower tiers (and a higher HE).

I'm not in the business, but I think the house would prefer A, because it doesn't interrupt the game as often as C, and the top pay is less than B. I don't think the house likes the financial exposure or the paperwork involved with a really big jackpot, and I think that keeps some really good games or sidebets from being offered in smaller casinos.
If the House lost every hand, they wouldn't deal the game.
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