Casino Craps by Frank Scoblete

Author:Frank Scoblete
Language: eng
Format: epub
Publisher: Triumph Books
Published: 2013-03-18T16:00:00+00:00

17. Betting Your Edge

Okay, let’s repeat for emphasis: in a random game of craps, the casino has the edge. Memorize that sentence. And if someone tells you something else, flee from that person as if he has the plague, because in a sense he does. The plague of ignorance is manifest in the craps world, and many of the crapsters who profess to be experts are the most ignorant of the lot. Here are the facts: no betting system, no hedging system, no on/off method, no right-side, and no wrong-side strategy can give you an edge over the house in a random game. Players who think they can outthink the dice are poor thinkers. Authors and self-styled experts who claim that this or that betting or a money-management system can overcome a mathematical edge are authoring illusion.

Indeed, nothing can change the fact that in the long run, you will lose whatever the house edge is on the bets you are making—that is, if you play a strictly random game of craps. Yes, you will win some nights and lose others, but in the end, if you play enough, you will lose the house edge on the money you bet.

Those are indisputable facts.

Casino executives know these facts because they see the bottom line of their craps games, and those bottom lines don’t lie. The math of craps is a devastating reality for the players and a delightful fact for the casinos.

Another little review here:

Many players have no idea how the casinos actually win money from them in the long run. They have vague inklings that something called “an edge” is working against them, but they don’t really know what this edge means. How you lose money is easy to see. You put a bet up, the 7 shows, and the dealer takes your chips and adds them to the casino’s rack. You can understand you have lost that bet.

However, you also lose bets that you win! Check out the Place bets and the Crazy Crapper bets in the game. All of these are based on short-changing your win and paying you less money than the true odds should those numbers hit. You bet that nutty 11, and the house pays you $15 to $1 wagered if you win, but the true odds of the bet are $17 to $1. The house keeps the extra $2.

At craps you lose in two ways: On the Pass, Don’t Pass, Come, and Don’t Come, the casino wins more decisions than the players. On the Place and Crazy Crapper bets, the casino “shares” in your win by extracting its edge by not paying you at the true odds of the bet.

So you actually lose when you win!

The worse the Crazy Crapper bet, the more the casino takes from you. As a controlled shooter and one who is looking to play with an edge, the worst thing you can do is try to overcome the edges on the Crazy Crapper bets. That’s like practicing for a marathon run and then jumping off a building to see if you can fly because you are in such good shape.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.