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Alan Krigman Gaming Guru - Page 12  Are side or bonus bets at blackjack (or other games) as bad as the gurus say?26 September 2011
Some table games offer side (aka bonus) bets ancillary to the primary action. These bets typically dangle the bait of rich rewards for moderate amounts at risk – often as little as $1 when the nominal table minimum may be $5, $10, $25, or more. Gambling gurus tend to pooh-pooh such propositions because they generally have usurious house advantages. ... (read more)
Ever have one of those days when you never get ahead?19 September 2011
Every true casino aficionado can recall instances of being ahead of a game then giving it all, often all-and-then-some, back. In such cases, it’s easy to recall precisely when discretion would have been the better part of starry-eyed optimism or wanton greed. Perhaps at the high point, or maybe at some ... (read more)
Should you lay odds on Don't Pass and Don't Come bets at craps?12 September 2011
Say you bet on Don’t Pass or Don’t Come at craps. Your chances are 47.9 percent of ecstasy and 49.3 percent of agony; the remaining 2.8 percent is the probability of pushing.
Although the come-out involves just one roll, it’s the dark underbelly of Don’t Pass and Don’t Come wagers. At this stage of a hand you’re a serious underdog with a mere 8.3 percent chance of winning even money. ... (read more)
Why faith in the law of averages is misplaced5 September 2011
Gamblers enduring cold spells in their action often put their faith in the law of averages to restore balance and get them out of trouble rather than cut their losses and run. This faith is misplaced.
One reason is that averages – which may also be pictured as theoretically expected values – reliably indicate performance only for large numbers of samples. ... (read more)
Casinos let you have the odds, but not the edge29 August 2011
Casino aficionados commonly confuse the meanings and implications of odds and edge. They’re related, but not the same things. The element that connects and differentiates them is the payoff.
Odds describe the chance of an event. Strictly, odds are stated in a form like “3-to-1" – meaning three ways to achieve one result versus one way for the other. ... (read more)
Would the bosses be giving away the casino with 10s-or-better video poker?22 August 2011
Pretend your friendly neighborhood casino just installed a platoon of multi-game slot machines, and you notice that one of them includes a 10s-or-better video poker option. You know enough about video poker to realize that the probabilities associated with various final hands aren’t arbitrary, as they are for the winning levels on reel-type slots. ... (read more)
What price do you pay for not doubling down or splitting pairs in blackjack?15 August 2011
Experienced blackjack buffs, and lots of novices as well, know that “the Book” says to double down in some situations and split pairs in others. When appropriate, these tactics lower the house edge in the game – improving solid citizens’ long-term prospects. In doubling, players match their original bets and receive single additional cards. ... (read more)
How do casinos decide what edge to put on the different bets?8 August 2011
Casinos have flexibility in setting edge or advantage over players. Edge, a function not only of probability but also of payoff, measures how much the house is fiscally favored. Depending on the details of the games, it can be altered by varying either or both of these parameters.
Dice games offer simple examples. ... (read more)
Do you discount the significance of the come-out roll at craps?1 August 2011
Most craps aficionados bet on Pass or Don’t Pass during the come-out phase of a hand. They go through the come-out roll but give it short shrift, thinking it’s mainly means for establishing the point. Focus is on the rolls that follow, until the shooter repeats the point or sevens-out.
Three primary factors account for this attitude. ... (read more)
How'd you like a game where the house counts the cards for you?25 July 2011
The early 20th Century Harvard social philosopher, Georgio Santayana, is famously quoted for saying, “Those who do not remember history are condemned to repeat it.” He did, in fact, write this in 1906 (in “The Life of Reason”). But he was paraphrasing the Irish political philosopher, Edmund Burke, who noted pretty much the same thing a century earlier. ... (read more)
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