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Buying other people's odds on craps

Discussion in 'Hardcore' started by Wolfedude, Feb 17, 2004.

  1. Wolfedude

    Wolfedude IncGamers Member

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    Buying other people's odds on craps

    Spero, actually you do not lose 50% of the time you lose 50% of the amounts you would wager. You would also win 50% of the amounts you wager. Because of the odds offered on the bet you would lose more often than win but you would receive additional amounts (odds) from your winning wagers. In craps that would be for a 6 or 8 - 6 to 5, for a 5 or 9 - 3 to 2 and for a 4 or 10 - 2 to 1. It is the best bet in the casino but as such is a washout from a betting standpoint. Over a statistically valid period of time (number of rolls) you should come out with the same amount of money as you started with.
    At least that is the way I understand it. Could be wrong but don't believe so.
     
  2. moby

    moby IncGamers Member

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    Hears dice calling................................must resist urge to fly to Vegas.


    -moby
     
  3. Spero

    Spero IncGamers Member

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    I don't know anything about craps, so I have to bow to your knowledge. I do however realize that there are very few games in a casino that give odds this friendly to the player (player only loses about half the time if the player's strategy is perfect). Blackjack is another game with better odds than most. My point in the other thread was that math doesn't lie.

    There's a saying. The lottery is taxes for the mathematically impaired.

    I agree with the saying, but I wouldn't say playing the lottery or gambling in general is a dumb thing to do. I just think you're dumb if you gamble/play the lottery expecting to come out ahead in the end. Take it for what it is: entertainment. It costs money just like most other forms of entertainment.

    How did this relate to Diablo? Mf runs are like rolling the dice. You can get a lucky streak, but the odds of certain things happening are too low to even discuss.
     
  4. GenXCub

    GenXCub IncGamers Member

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    Being that I live in vegas... :eek:)

    Yes, the odds bet on craps is the only table game that specifically offers a true 50/50 bet (i.e. no house advantage). Betting on a 7 (don't pass/come) pays half as much as betting on 4 or 10, which come up exactly half as often (3 combinations of 4/10, as opposed to 6 combinations of 7 out of 36 possibilities).

    I don't know how this thread started, but there ARE bets with player advantage in Casinos. Counting cards in Blackjack (it's not illegal, by the way, the casino can just choose to not play against you if you're found out), and some video poker machines pay over 100% over time.
     
  5. Kitriara

    Kitriara IncGamers Member

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    I am a would-be craps addicted... as in, I would be if I had the money to blow on it. Definately the best odds AND the most fun game at a casino.

    The nice thing about certain bets (like the aforementioned 4 and 10 strat) is that you can put them out after the first roll, make some money when they come up, then ask them to remove your money from the table! Pure profit!

    Craps is the only game I've ever played a casino where I've consistently left a few dollars UP. Try doing that on slots.
     
  6. WarriorPoet

    WarriorPoet IncGamers Member

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    Spero, don't tell me I won't come out ahead in the end! I have a chance on tonight's $177 million drawing!

    Gotta love that "Redneck Retirement Program"! ;)
     
  7. Spero

    Spero IncGamers Member

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    If you've come out ahead - you've been very lucky.

    ..and if you've played more than just a couple times - sorry, but I don't believe you've consistently won money. Math doesn't lie. You just forgot about the losing days, or something. :scratch:

    @Wolf - thanks I said it incorrectly I guess. I always hated statistics :teeth:
     
  8. Wolfedude

    Wolfedude IncGamers Member

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    Well Spero, you know what they say: there are liars, damn liars and statistics.
     
  9. Kitriara

    Kitriara IncGamers Member

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    The only reason I've consistently won is because I'm not a 'craps-fly' ala a barfly. I get in, throw down on a few bets until I get up, then get out.

    The reason most people lose is they stay there all evening until their money is all gone, even if they were up at some point prior.

    So I guess I'm actually kind of a wuss :uhhuh:
     

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