centerfield9
Joined: Dec 26, 2011
• Posts: 5
February 24th, 2020 at 7:02:09 AM permalink
Let's say a casino gave you a one-time Free Play coupon that can be used on any bet in the casino including the sportsbook/racebook. Is there an optimal way to play it?

This is not a matchplay. If you play the coupon on an even-money bet: you lose nothing if you lose, you win the face value of the coupon if you win. If the bet pays 3-to-1, you win 3x the face value. If the bet pays 1-to-2, you win half the face value. Do you go for the gusto and try for the 20-1 on Wheel of Fortune? Do you bet the 1-to-9 favorite on a horse? Or somewhere in-between? Remember, you keep what you win only, not the win plus the value of the coupon. The casino takes the coupon after you use it.
The less you bet, the more you lose when you win
Mosca
Joined: Dec 14, 2009
• Posts: 3785
February 24th, 2020 at 7:37:23 AM permalink
That kind of depends on you. What you like, how you feel about risk and edge.

I’d use it to make an odds bet at craps. It pays real odds and might return 2 for one.
NO KILL I
charliepatrick
Joined: Jun 17, 2011
• Posts: 1950
February 24th, 2020 at 8:02:03 AM permalink
If you have a free-to-bet coupon, i.e. they don't return the "bet" part, the best way is to place it on something like a number at single-zero roulette.

Let's assume it's a \$5 bet.
If you chose an even money shot then (about) half the time you'd get back \$5, so its value is (about) \$5/2 (actually \$5*18/37 = \$2.43).
If you chose a number, then 1 chance in 37 you would win 35*\$5 (=\$175) or you'd lose. So its value is \$175/37 = \$4.73.

Essentially if you win at even money, you get half your "winnings" back, whereas on a number you get 35/36 of your "winnings" back. btw a roulette number (even double zero) is better than true odds at craps since (or a 4 or 10) you'd get back 2/3 of your "winnings".

If you have a coupon which will also return the "bet" part, then you would be correct to place it on the lowest House Edge bet available. You might think this would be the odds part of craps, however this costs you the House Edge of having to make the original bet and waiting for a point. Thus you might be better off putting it on Blackjack or a low House Edge game such as Baccarat.
darkoz

Joined: Dec 22, 2009
• Posts: 6382
February 24th, 2020 at 11:23:05 AM permalink
Is this a real scenario? You say suppose it happened?

In my experience these type of table bets have restrictions like even money bets only
For Whom the bus tolls; The bus tolls for thee
centerfield9
Joined: Dec 26, 2011
• Posts: 5
February 26th, 2020 at 10:57:49 AM permalink
This is not real. I understand most free play coupons restrict play to even-money bets. I was just wondering how people gauge the zero-risk/variable-reward on a one-bet opportunity. What would you play if it was a \$100 coupon? How about \$1,000?
The less you bet, the more you lose when you win
charliepatrick
Joined: Jun 17, 2011
• Posts: 1950
February 26th, 2020 at 11:31:22 AM permalink
Quote: centerfield9

...even-money bets....if it was a \$100 coupon [or] \$1,000?

Place \$5 on Blackjack and the coupon behind it accepting you might have to double/split for quite a lot! (I haven't done the exercise where you don't add to a profitable split but do for a double and/or change strategy, c.f. freebet.)
unJon
Joined: Jul 1, 2018
• Posts: 1626
Thanks for this post from:
February 26th, 2020 at 3:07:51 PM permalink
Quote: centerfield9

This is not real. I understand most free play coupons restrict play to even-money bets. I was just wondering how people gauge the zero-risk/variable-reward on a one-bet opportunity. What would you play if it was a \$100 coupon? How about \$1,000?

Throw it on zero on a single zero roulette wheel.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
Wiggins
Joined: Mar 26, 2015