$3 place bet house edges
At a craps table in Vegas during my last trip there, one player was in a heated argument with another about how bad it was to place any $3 bets, since it made the player lose more money than a $5 player. I over heard him mentioning a Donald Catlin article at casinocitytimes.com that proved by simulations a $5 place bettor lost LESS than a $3 place bettor.
I have already done those type of sims and will not show any results here.
At Rapid Craps one can make a $3 place bet on any number and you will be paid the exact payout, not rounded down.
| place # | bet | house pays | true payoff | diff | down | HA | Increase |
|---|---|---|---|---|---|---|---|
| 4,10 | 5 | 9 | 10 | 1 | 15.00 | 6.666667% | . |
| 5,9 | 5 | 7 | 7.5 | 0.5 | 12.50 | 4.000000% | . |
| 6,8 | 6 | 7 | 7.2 | 0.2 | 13.20 | 1.515152% | . |
| . | . | . | . | . | . | . | . |
| 4,10 exact | 3 | 5.40 | 6 | .6 | 9.00 | 6.6667% | 0.00% |
| 4,10 | 3 | 5 | 6 | 1 | 9.00 | 11.1111% | 66.67% |
| 5,9 exact | 3 | 4.20 | 4.5 | 0.3 | 7.50 | 4.0000% | 0.00% |
| 5,9 | 3 | 4 | 4.5 | 0.5 | 7.50 | 6.6667% | 66.67% |
| 6,8 exact | 3 | 3.50 | 3.6 | 0.1 | 6.60 | 1.5152% | 0.00% |
| 6,8 | 3 | 3 | 3.6 | 0.6 | 6.60 | 9.0909% | 500.00% |
Advice to my $3 place bet friends, press up to the correct unit as fast as possible!
interestingly enough, you are expected to lose the EXACT same amount if you bet $3 on a 4,5,9, or T getting paid 4:3 on a 5 or 9 and getting paid 5:3 on a 4 or T as you are betting $5 on a 4,5,9, or T getting paid 7:5 on a 5 or 9 and 9:5 on a 4 or T.
(2/5)(4)-(3/5)(3) = -(1/5)
(2/5)(7)-(3/5)(5) = -(1/5)
(1/3)(5)-(2/3)(3) = -(1/3)
(1/3)(9)-(2/3)(5) = -(1/3)
thats not the case for a $3 bet on 6 or 8 getting paid even money to betting $6 on a 6 or 8 getting paid 7:6 though.
(5/11)(3)-(6/11)(3) = -(3/11)
(5/11)(7)-(6/11)(6) = -(1/11)
It doesn't take a lot of facts and figures, or the IQ of a rocket scientist, to know that when a casino rounds down, the gambler is losing more than when the casino isn't rounding.
Quote: rudeboyoiidk what u mean by gain an advantage.
edit0001
players dont want to be bothered like that. dealers dont want to be bothered like that.
about the only realistic thing you can do is buy peoples dont bets that wave it off on a 6 or 8. or to place an odds wager behind someones passline wager. anything else is too complicated and will most likely not be allowed.
HE = -(EV/Wager)
Quote: rudeboyoialso a useful formula for figuring out the HE if youve already figured out the EV of a certain size wager is:
HE = -(EV/Wager)
Excellent. Thanks and it works great
Quote: rudeboyoilol good luck adding to other peoples place bets. not the least bit realistic.
players dont want to be bothered like that. dealers dont want to be bothered like that.
about the only realistic thing you can do is buy peoples dont bets that wave it off on a 6 or 8. or to place an odds wager behind someones passline wager. anything else is too complicated and will most likely not be allowed.
Thanks for the good luck.edit0001
Quote: rudeboyoiidk what u mean by gain an advantage.
interestingly enough, you are expected to lose the EXACT same amount if you bet $3 on a 4,5,9, or T getting paid 4:3 on a 5 or 9 and getting paid 5:3 on a 4 or T as you are betting $5 on a 4,5,9, or T getting paid 7:5 on a 5 or 9 and 9:5 on a 4 or T.
(2/5)(4)-(3/5)(3) = -(1/5)
(2/5)(7)-(3/5)(5) = -(1/5)
(1/3)(5)-(2/3)(3) = -(1/3)
(1/3)(9)-(2/3)(5) = -(1/3)
thats not the case for a $3 bet on 6 or 8 getting paid even money to betting $6 on a 6 or 8 getting paid 7:6 though.
(5/11)(3)-(6/11)(3) = -(3/11)
(5/11)(7)-(6/11)(6) = -(1/11)
I play at a casino that uses 50cent chips on their $3 craps table and pay $3.50 on a $3 6 or 8. After 1 hit they ask the player if they want to add the 50cents to their bet, so they get paid $4. This makes the player expected to lose the exact same a $6 6 or 8.
(5/11)(4)-(6/11)(3.5) = -(1/11)
(5/11)(7)-(6/11)(6) = -(1/11)
