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*** Gambling Newsletter ***
Hot News and Winning Strategies for Gamblers
Volume 4 Issue 52 - 06 OCT 2006
IN THIS ISSUE
TOP NEWS: Bonus Offers
STRATEGY: PASS LINE
GAMBLING: Online Gambling Review
EDITOR: US Gambling Prohibition
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TOP NEWS
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STRATEGY
PASS LINE
The EDGE, the HOLD, and that friendly PASS LINE
Dear Mark,
The Mississippi Gaming Commission recently posted the "Hold" percentage
for table games on the coast. Blackjack was listed at 14.58%. If, using
perfect basic playing strategy, the house edge is supposed to be
approximately one half of 1%. Am I comparing apples and oranges, or is
the average BJ player completely ignoring basic playing strategy? Ray
F.
Yes and yes. But for starters, Ray, you are confusing house edge with
casino hold.
The "house edge" is a predetermined percentage of each bet that the
house takes as payment for letting you sit at their tables. The casino's
"hold" is the share of the chips the player bought that are won back by
the casino. It’s not all that hard for the casino to turn a house edge
of 1% and then, “Presto! begone!” turn it into a 14-plus percent hold.
Casinos, Ray, are not in the gambling business. They are in the
math-and-time business. Casino operators know that, even considering a
halfway decent blackjack player, the longer his keister is in their
seats, the higher their hold will climb.
Allow me to clarify. Most blackjack players give up 5% of their wager to
the house based on their shoddy play. (The house has a 5% advantage
against the “average” blackjack player. Incredibly, less than 1% of all
BJ players employ perfect basic strategy.) Consequently, after 20 hands,
based on perpetual play, they should mathematically have $95 remaining.
But the average player stays stuck to the stool, so with their remaining
$95, slowly but surely, they fatten up their losses, giving the house a
higher hold than the actual casino edge on the game.
Multiply that, Ray, by 24 hours a day play, grinding away at squatters
on hundreds of blackjack tables across Mississippi, and 14.58% doesn’t
really seem all that high. The only one gambling here is the blackjack
player, not the casino.
The only way you, the gambler, can avoid getting caught in this grind is
to shorten your gambling timeline. Casino operators know all too well
that such cautious behavior has negative implications on the casino’s
hold. They would much prefer to see you crazy glued to a stool and
anteing-up casino chips all day long.
Dear Mark,
I don’t gamble a lot, but when we have guests who think we’re lucky to
live only 15 minutes from a sharp casino, we always take them, and I
play craps, my favorite. I’ve been told that the best bet is on the pass
line, and wonder if it’s true. Brenda C.
Craps with cronies can be enjoyable entertainment, and based on your
pass line play, you’re already an expert amongst your friends. Still,
less than one percent of players who belly up to the game understand
dice as you do. Most players are greener than the felt on the table. So,
Brenda, allow me to give your gambling gang and fellow readers the only
bets you really want to make on a crap table. The best bets on a crap
game are the pass and come line bets you subscribe to, those wagers with
odds, and the placing of the 6 or 8. These three wagers have a casino
edge of 1.5% or lower. Stick to these three, and you’ll be certified to
get your teaching credentials.
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GAMBLING
Online Gambling Review
Online Gambling Review For The Fall Of 2006
Poker continues to be hotter than anyone would have guessed, but that's
not all that's happening. Here's a "state of the union" for fall 2006.
Full story at:
http://www.winneronline.com/articles/september2006/onlinegamblingstateofunion.htm
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EDITOR
US Gambling Prohibition
Steve Johnson, Gambling Newsletter
With U.S. Congress essentially passing what would amount to online
gambling prohibition, history buffs may be having a bout of déjà vu.
America instituted an era of alcohol prohibition back in the 1920’s and
by all accounts, it was a failure.
During alcohol prohibition, people were driven “underground,” so to
speak, to enjoy alcoholic beverages, going to illegal Speakeasies to
have a drink.
Liquor makers didn’t have any standards to adhere to when distilling
alcoholic beverages and there were many instances of people suffering
paralysis from merely having a glass of Scotch.
A near mirror image could happen with online gaming prohibition. Rather
than play poker at legit sites, people will be forced to unregulated
sites that don’t have any standards to adhere to.
Is history about to repeat itself?
*See you in couple of weeks!*
Steve Johnson, Editor
editor@gamblingnewsletter.com
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This week's Gambling Newsletter sponsored by
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