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Best of Frank Scoblete
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Gaming Guru
What do losses mean?30 January 2018
So I make the bet but if I lose it do I lose 1.4%? No, I lose the whole bet. If I win, I win the whole bet. Now, how can that be? I am right that you either win or lose a bet correct? I have not yet put my money where my doubts are so maybe you can help me in this? How do you lose 1.4% Mr. Scoblete? It doesn’t seem to make sense. FRANK RESPONDS: You are taking the idea of winning and losing a bet as a one shot deal. If you make one pass line bet in your whole life, then yes, you win or lose that bet and that is that. The number of decisions, which is one, cannot become 1.4%. It is either a 100% or no percent wager. But if you make thousands of those bets, then the percentages will start to look like the math. You must remember that the pass line bet will win 251 decisions for the casino and win only 244 decisions for the player. Those are averages, and it takes a long time to see such averages work out in the real world. As the number of decisions begins to build, you will begin to see that you don’t just win a bet and lose a bet, you experience the house edge percentages – or, at least, close to them. The percentages given as averages assume a long-run of playing time. Is it possible that someone could be ahead of the house with 1,000 decisions on the pass line? Yes. But given 10,000 decisions, a winning pass line bettor would be a rare bird. One more example: The average approximate height of an American male is 5’10” but most American males are not 5’10”. The range of heights is huge, but when you average them all in the result is an average of 5’10”. There is a good chance you are not 5’10”. I’m not. Visit Frank’s website at www.frankscoblete.com. Frank Scoblete’s latest books are I Am a Dice Controller: Inside the World of Advantage-Play Craps, Confessions of a Wayward Catholic and I Am a Card Counter: Inside the World of Advantage-Play Blackjack. Available from Amazon.com, Kindle, Barnes and Noble, and bookstores. This article is provided by the Frank Scoblete Network. Melissa A. Kaplan is the network's managing editor. If you would like to use this article on your website, please contact Casino City Press, the exclusive web syndication outlet for the Frank Scoblete Network. To contact Frank, please e-mail him at fscobe@optonline.net. Recent Articles
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