According to today’s statistics, the average casino has to thank its slot machines for about seventy percent of its total income. A rather disproportional piece of the pie considering the countless different casino games offered both in the brick and mortar casino and in many online gaming sites. So, for the only game that requires a coin bucket in an offline casino or that pins the player’s luck on the mathematical odds of a slots machine, what is it that made this game so popular for so many years?
Like many other simple inventions of our time, the slots machine too came from an even simpler thought. At the end of the nineteenth century a basic machine with colored drums and a side lever was integrated into the interior of various California and west coast taverns to add some fun to the establishment’s entertainment offerings. Bar patrons were invited to place either a nickel or a dime in the machine and try their luck at attaining a winning poker hand from the drums’ different symbols. Initially the rewards were not handed out in prize money, but rather in the form of free drinks, cigars, or even plain chewing gum. This simple and straightforward approach to gambling quickly gained great popularity and spread across many bars in the country where it would later be nicknamed the “one-armed bandit” due to its single lever resembling an arm. So great was the popularity of the early slots machines that at one point its manufacturer could not produce enough machines to meet the high demand!
Riding this massive wave of popularity in the bars, the slots machine made a rapid and smooth transition to the casinos, where eventually rows of slots machines would welcome every guest who walked in and were impossible to miss. With the advent of the internet and the popularity of online gaming, slots retained their status as an irreplaceable part of any version of the casino and starred in many online gaming sites, where some sites, such as goldrockcasino.com, focus mainly on providing a large selection of slot games which form the heart of their gaming software.
The tremendous popularity of offline and online slots is undoubtedly a result of its fundamental simplicity and easy manner in which it produces immediate results for the player. Unlike a blackjack game or a poker competition where a player sits down at a table amongst other competitors or just the house dealer, slots allows the player to take some time off from the mayhem of the casino and enter a personal quiet “spell” to the background sounds of coins dropping and reels turning. The results from each game are immediate as the reels display the symbols only moments after the lever is pulled. On top of that the required sum to enter a game is usually small and un-intimidating, hence allowing the player to continue playing even after a row of less successful rounds.
The slot machine has stood the test of time and done so gracefully. Its popularity has not rested and its secure standing as the casino’s most treasured centerpiece has driven slot developer to creating bigger and better games with more intricate features. Though no longer offering mere bubble gum but big money prizes, the slot machine still holds onto its old western charm and nostalgic appeal.
Tuesday, December 30, 2008
Thursday, December 18, 2008
Learn to Play Craps - Tips and Strategies: Variance
Be smart, play smart, learn the right way to play craps!If the casino has such an advantage over the player, why on Earth does anyone play the game? My guess is that most people don't have a clue they're playing a losing game. Others are so arrogant they think they can outplay the casino and turn a negative expectation into a positive, even over the long term. Others know they'll lose, but play anyway for fun and excitement. As a knowledgeable player, why should you even bother playing a game you know will beat you? As a knowledgeable player, is there any hope you can walk away a winner, at least once in a while, even though you're at a statistical disadvantage?Craps is a game of numbers and statistics, with the house having a built-in advantage. Since craps is based on statistics, let's find a way to use statistics to our advantage. You'll never beat the casino over the long haul, but you can, indeed, beat it in the moments of time when the distribution hiccups and things go your way.
Let's talk about "variance," which is the average squared deviation of each number from the mean of a data set. Huh? Don't worry; we don't need a Harvard math degree to understand this. It's simply a measure of how spread out the data is. Let's consider the familiar coin-flip example.
Suppose we flip a coin 10,000 times. We expect heads to appear about 5,000 times and tails to appear about 5,000 times. Suppose we bet $1 on heads for each flip. If these are even-money bets, we expect to break even--or close to it after those 10,000 flips. As illustrated in one of my other articles, the house doesn't give us even money when it loses. In our coin-flip example, instead of paying us $1 for each loss, suppose they pay us only $0.96. With this built-in house advantage, our negative expectation is to lose about $200 after 10,000 flips. Here's the math. If we expect about 5,000 heads and about 5,000 tails to appear, then we expect to lose 5000 x $1 = $5000; and win 5000 x $0.96 = $4800. $5000 - $4800 = $200. This is called "negative expectation."
Now, of those 10,000 flips, suppose we focus on only 30 of them, and we continue betting on heads. Of those 30 flips, we might see heads 25 times and tails only 5 times. This data fluctuation shows that, for a limited number of flips over a short period of time, we can get lucky and experience Nirvana where things go our way. I call it a "Nirvana hiccup" in the distribution that causes a relatively high variance. In this example of only 30 flips, we win $24 for the 25 heads (i.e., 25 x $0.96 = $24), and lose $5 for the 5 tails (i.e., 5 x $1 = $5), which gives us a net win of $19. This short term variance temporarily removes the long-term negative expectation, which means there are, indeed, times when we can walk away a winner.
Although you'll lose in the long-term, there are times when you'll win because of variance. Suppose you take a three day vacation in Vegas once a year and play four one hour craps sessions each day (i.e., a total of 12 hours for the trip). You could conceivably get extremely lucky and hit that Nirvana hiccup during each session, and then go home a big winner. In that case, you go home thinking you're a genius, a craps god, invincible, a world-class gambling stud. Yeah, sure, okay. I don't recommend quitting your day job.
Now, suppose you're a Vegas local who plays an hour every day after work. In this case, it's clear that whatever few Nirvana hiccups you experience will be properly adjusted over time such that you'll lose your shirt in the long-term.
Therefore, the infrequent craps player can, indeed, consistently win if she's lucky enough to hit those Nirvana hiccups. However, the frequent long term player has no chance of coming out a winner at the end of his craps life. Part of the secret to craps is knowing how to be around for those occasional Nirvana hiccups where the dice fall your way.
If you don't want to lose your shirt, you must learn the secret to craps. Don't fall for bogus winning systems or ridiculous dice-setting claims. Distribution variance is the only thing that makes you a short-term winner. Nothing else. No silly dice setting technique. No bogus winning system. It's the distribution variance and nothing else. Got it? Be smart. Play smart. Learn the secret to craps.
Let's talk about "variance," which is the average squared deviation of each number from the mean of a data set. Huh? Don't worry; we don't need a Harvard math degree to understand this. It's simply a measure of how spread out the data is. Let's consider the familiar coin-flip example.
Suppose we flip a coin 10,000 times. We expect heads to appear about 5,000 times and tails to appear about 5,000 times. Suppose we bet $1 on heads for each flip. If these are even-money bets, we expect to break even--or close to it after those 10,000 flips. As illustrated in one of my other articles, the house doesn't give us even money when it loses. In our coin-flip example, instead of paying us $1 for each loss, suppose they pay us only $0.96. With this built-in house advantage, our negative expectation is to lose about $200 after 10,000 flips. Here's the math. If we expect about 5,000 heads and about 5,000 tails to appear, then we expect to lose 5000 x $1 = $5000; and win 5000 x $0.96 = $4800. $5000 - $4800 = $200. This is called "negative expectation."
Now, of those 10,000 flips, suppose we focus on only 30 of them, and we continue betting on heads. Of those 30 flips, we might see heads 25 times and tails only 5 times. This data fluctuation shows that, for a limited number of flips over a short period of time, we can get lucky and experience Nirvana where things go our way. I call it a "Nirvana hiccup" in the distribution that causes a relatively high variance. In this example of only 30 flips, we win $24 for the 25 heads (i.e., 25 x $0.96 = $24), and lose $5 for the 5 tails (i.e., 5 x $1 = $5), which gives us a net win of $19. This short term variance temporarily removes the long-term negative expectation, which means there are, indeed, times when we can walk away a winner.
Although you'll lose in the long-term, there are times when you'll win because of variance. Suppose you take a three day vacation in Vegas once a year and play four one hour craps sessions each day (i.e., a total of 12 hours for the trip). You could conceivably get extremely lucky and hit that Nirvana hiccup during each session, and then go home a big winner. In that case, you go home thinking you're a genius, a craps god, invincible, a world-class gambling stud. Yeah, sure, okay. I don't recommend quitting your day job.
Now, suppose you're a Vegas local who plays an hour every day after work. In this case, it's clear that whatever few Nirvana hiccups you experience will be properly adjusted over time such that you'll lose your shirt in the long-term.
Therefore, the infrequent craps player can, indeed, consistently win if she's lucky enough to hit those Nirvana hiccups. However, the frequent long term player has no chance of coming out a winner at the end of his craps life. Part of the secret to craps is knowing how to be around for those occasional Nirvana hiccups where the dice fall your way.
If you don't want to lose your shirt, you must learn the secret to craps. Don't fall for bogus winning systems or ridiculous dice-setting claims. Distribution variance is the only thing that makes you a short-term winner. Nothing else. No silly dice setting technique. No bogus winning system. It's the distribution variance and nothing else. Got it? Be smart. Play smart. Learn the secret to craps.
Wednesday, December 10, 2008
When Casino and Bingo Players Can’t Smoke
Imposing No Smoking prohibited is becoming popular in meeting places or heavy crowed places in different places in the world. Some casinos and bingo halls are becoming non smoking organizations as health concerns prompt local regulators. Bingo is basically lottery game a game of luck. Bingo players are gamblers and most of the gamblers are smokers. Some of them are chain smokers, for them quite difficult to sit for long time and playing bingo game continuously. Proscription smoking in bingo halls causes many players to skip the game at the land-based establishment. Many players would rather favor to spend their time doing something else than go without smoking. Most bingo halls that have smoking bans have experienced a go down in their revenues, just as casinos have.
Players who have habit to smoke frequently can not enjoy themselves so they just leave the game because of his addiction. Those that do appear to play at the land-based establishments obviously spend as little time inside as possible. They take breaks outside so they can have a cigarette. This means they spend less on refreshments and drinks because they spend their time outside smoking instead of inside drinking. But for those players the best option is to play bingo on internet. On internet player can play online bingo with heavy crowd and enjoying his play time with online players.
Many players, who find themselves not capable to smoke at their favorite land-based bingo establishment, stay home and play internet casino and bingo games. The whole smoking issue is solved that way. Casino gamblers are free from the gambling dress code while they are playing free online casinos and gambling games. They are in the privacy of their own home where they can smoke whenever they want without bothering anyone. They can also play according to their own schedule instead of the bingo hall’s schedule. When bingo players can not smoke at their local bingo organization they find something else to do. Since they can not enjoy the game, many of them stop attending and stay home and play online bingo games.
Players who have habit to smoke frequently can not enjoy themselves so they just leave the game because of his addiction. Those that do appear to play at the land-based establishments obviously spend as little time inside as possible. They take breaks outside so they can have a cigarette. This means they spend less on refreshments and drinks because they spend their time outside smoking instead of inside drinking. But for those players the best option is to play bingo on internet. On internet player can play online bingo with heavy crowd and enjoying his play time with online players.
Many players, who find themselves not capable to smoke at their favorite land-based bingo establishment, stay home and play internet casino and bingo games. The whole smoking issue is solved that way. Casino gamblers are free from the gambling dress code while they are playing free online casinos and gambling games. They are in the privacy of their own home where they can smoke whenever they want without bothering anyone. They can also play according to their own schedule instead of the bingo hall’s schedule. When bingo players can not smoke at their local bingo organization they find something else to do. Since they can not enjoy the game, many of them stop attending and stay home and play online bingo games.
Sunday, November 30, 2008
A Review of Online Casino Gambling
You know what I mean, the dealer is busting left and right, I'm drawing five-card 21s, and the stack of chips in front of me gets bigger and bigger. But I've also had horrible sessions where the opposite happened and nothing went my way. It's all part of the game. It's a roller coaster ride that you better be prepared for mentally. The key to long-term success in online casino gambling is to try to smooth out the peaks and valleys in order to gain some consistency. Sometimes a betting system can really help out. Now a lot of know what all gamblers might say that he thinks systems are for amateurs. But you'd be doing yourself a huge disservice by engaging in online casino gambling without going in with some sort of game plan first. You see, online casino gambling differs from traditional gaming establishments in a very important way, many times they offer better odds or give you financial incentives just to draw you in as a player. As a gambler, you know that even the slightest variation in odds will affect basic playing strategies for games such as blackjack and Jacks or Better video poker.
Because so many of these gambling sites offer incentives you don't really need to put as much to come out ahead. Taking these factors into consideration means that for online casino gambling, you can chuck everything you thought you knew about blackjack, slots, roulette, poker, and craps out the window and adapt an entirely different game plan. To develop a sound betting strategy you will need to consult credible reference materials. You can find excellent books and on the Internet that will benefit you greatly. The good news is there are enough math and computer wizards interested in blackjack and other games that we're in no danger of running out of strategy guides tailored to online casino gambling.
He sure to make sure whatever system you are looking at that they author, or creator of that system, it is an experienced gambler himself and has shown the system to be credible. What I've discovered is that many of these guys are making money from selling their systems rather than using their own advice to win at online casino gambling. That should give you some idea of how "valuable" their systems really are! Some people make all the money writing about things as opposed to actually doing them. These are the types of people you want to avoid.
But if you dig in and do some checking, you'll find that there are a few choice strategy guides out there that are quite effective at helping people earn a fairly steady income from online casino gambling. A great place to look for advice and resources are Internet forums where gamblers gather. Usually, at least one member of the forum has tested a particular strategy guide and would be more than happy to give you an honest review of the system. Once you find a winner, you will no doubt you much better about your chances for success in online casino gambling.
Because so many of these gambling sites offer incentives you don't really need to put as much to come out ahead. Taking these factors into consideration means that for online casino gambling, you can chuck everything you thought you knew about blackjack, slots, roulette, poker, and craps out the window and adapt an entirely different game plan. To develop a sound betting strategy you will need to consult credible reference materials. You can find excellent books and on the Internet that will benefit you greatly. The good news is there are enough math and computer wizards interested in blackjack and other games that we're in no danger of running out of strategy guides tailored to online casino gambling.
He sure to make sure whatever system you are looking at that they author, or creator of that system, it is an experienced gambler himself and has shown the system to be credible. What I've discovered is that many of these guys are making money from selling their systems rather than using their own advice to win at online casino gambling. That should give you some idea of how "valuable" their systems really are! Some people make all the money writing about things as opposed to actually doing them. These are the types of people you want to avoid.
But if you dig in and do some checking, you'll find that there are a few choice strategy guides out there that are quite effective at helping people earn a fairly steady income from online casino gambling. A great place to look for advice and resources are Internet forums where gamblers gather. Usually, at least one member of the forum has tested a particular strategy guide and would be more than happy to give you an honest review of the system. Once you find a winner, you will no doubt you much better about your chances for success in online casino gambling.
Monday, November 17, 2008
Gambling Secrets
Promotional Gambling Secrets
Learn to figure the odds. Casinos often give the edge away for various promotional reasons. If you know when the odds are in your favor, you can take advantage of these promotions. For example, one man made thousands betting the "money wheel," which is normally the worst bet in the house. However, in this case the casino was selling $20 in tokens for $10, with no limit on purchases. The man played the tokens once each as required, then repeatedly cashed in the real chips he was paid with, and bought another $20 for $10. When the odds are in your favor, it's investing, not gambling, and that may be the most important of these gambling secrets.
Learn to figure the odds. Casinos often give the edge away for various promotional reasons. If you know when the odds are in your favor, you can take advantage of these promotions. For example, one man made thousands betting the "money wheel," which is normally the worst bet in the house. However, in this case the casino was selling $20 in tokens for $10, with no limit on purchases. The man played the tokens once each as required, then repeatedly cashed in the real chips he was paid with, and bought another $20 for $10. When the odds are in your favor, it's investing, not gambling, and that may be the most important of these gambling secrets.
Saturday, November 8, 2008
Casino Craps - Easy to Learn and Easy to Win
Craps is the fastest - and certainly the loudest - game in the casino. With the big, colorful
table, chips flying everywhere and players yelling, it's exiting to watch and exciting to play.
Craps also has the one of the lowest house edges against you of any casino game, but only if you
make the right bets. In fact, with one type of bet (which you will soon learn) you play even with the house, meaning that the house has a zero edge. This is the only casino game where this is true.
THE TABLE LAYOUT
The craps table is slightly larger than a standard pool table, with a wood railing that goes
around the outside edge. This railing acts as a backboard for the dice to be thrown
against and is sponge-lined on the inside with random patterns so that the dice bounce
randomly. Most table rails also have grooves on top where you can place your chips.
The table surface is a tight fitting green felt with designs to indicate all the various bets
that can be made in craps. It's very confusing for a beginner, but all you really need to
concern yourself with right now is the "Pass Line" area and the "Don't Pass" area. These
are the only bets you will make in our basic strategy (and for the most part the only bets
worth making, period).
BASIC GAME PLAY
Don't let the confusing layout of the craps table intimidate you. The basic game itself is
very simple. A new game with a new player (the person shooting the dice) begins when
the current player "sevens out", which means he rolls a seven. That ends his turn and a
new player is given the dice.
The new player makes either a pass line bet or a don't pass bet (explained below) and
then throws the dice, which is called the "comeout roll".
If that first roll is a 7 or 11, this is called "making a pass" and the "pass line" betters win
and "don't pass" betters lose. If a 2, 3 or 12 are rolled, this is called "craps" and pass line
betters lose, while don't pass line betters win. However, don't pass line betters do not
win if the "craps" number is a 12 in Las Vegas or a 2 in Reno and Tahoe. In this case,
the bet is push - neither the player nor the house wins. All pass line and don't pass line
bets are paid even money.
Barring one of the three "craps" numbers from winning for don't pass line bets is what
gives the house it's low edge of 1.4 percent on all line bets. The don't pass bettor has a
stand-off with the house when one of these barred numbers is rolled. Otherwise, the
don't pass bettor would have a small advantage over the house - something that no
casino permits!
If a number other than 7, 11, 2, 3, or 12 is rolled on the comeout (in other words, a
4,5,6,8,9,10), that number is called a "place" number, or simply a number or a "point".
In this case, the shooter continues to roll until that place number is rolled again, which is
called "making the point", at which time pass line betters win and don't pass bettors lose,
or a 7 is rolled, which is called "sevening out". In this case, pass line bettors lose and
don't pass bettors win. When a player sevens out, his turn is over and the whole process
begins again with a new player.
Once a shooter rolls a place number (a 4.5.6.8.9.10), many different types of bets can be
made on each subsequent roll of the dice, until he sevens out and his turn is over.
However, they all have odds in favor of the house, many of them heavily in favor of the
house, with the exception of two: odds on a line bet, and "come" bets. Of these two, we
will only consider the odds on a line bet, as the "come" bet is a bit
more confusing.
You should ignore all other bets, as they carry odds that are too high against you. Yes,
this means that all those other players that are throwing chips all over the table with each
roll of the dice and making "field bets" and "hard way" bets are really making sucker
bets. They may know all the many bets and special lingo, but you will be the smarter
gambler by simply making line bets and taking the odds.
Now let's talk about line bets, taking the odds, and how to do it.
LINE BETS
To make a line bet, simply place your money on the area of the table that says "Pass
Line", or where it says "Don't Pass". These bets pay even money when they win,
although it's not true even odds because of the 1.4 percent house edge discussed earlier.
When you bet the pass line, it means you are betting that the shooter either makes a 7 or
11 on the comeout roll, or that he will roll one of the place numbers and then roll that
number again ("make the point") before sevening out (rolling a 7).
When you bet on the don't pass line, you are betting that the shooter will roll either a 2 or
a 3 on the comeout roll (or a 3 or 12 if in Reno and Tahoe), or will roll one of the place
numbers and then seven out before rolling the place number again.
Odds on a Line Bet (or, simply called "odds bets")
When a point has been established (a place number is rolled) on the comeout, you are
permitted to take true odds against a 7 appearing before the point number is rolled again.
This means you can bet an additional amount up to the amount of your line bet. This
called an "odds" bet.
Your odds bet can be any amount up to the amount of your line bet, although many
casinos will now allow you to make odds bets of two, three or even more times the
amount of your line bet. This odds bet is paid at a rate equal to the odds of that point
number being made before a 7 is rolled.
You make an odds bet by placing your bet directly behind your pass line bet. You notice
that there is nothing on the table to indicate that you can place an odds bet, while there
are indications loudly printed all over that table for the other "sucker" bets. This is
because the casino does not want to encourage odds bets. You have to know that you can
make one.
Here's how these odds are computed. Since there are 6 ways that a number 7 can be
rolled and 5 ways that a 6 or 8 can be rolled, the odds of a 6 or 8 being rolled before a 7 is
rolled again are 6 to 5 against you. This means that if the point number is a 6 or 8, your
odds bet will be paid off at the rate of 6 to 5. For every $10 you bet, you will win $12
(bets smaller or larger than $10 are of course paid at the same 6 to 5 ratio). The odds of a
5 or 9 being rolled before a 7 is rolled are 3 to 2, so you get paid $15 for every $10 bet.
The odds of 4 or 10 being rolled first are 2 to 1, so you get paid $20 for every $10 you
bet.
Note that these are true odds - you are paid exactly proportional to your chance of
winning. This is the only true odds bet you will find in a casino, so be sure to make it
whenever you play craps.
AN EASY TO LEARN BASIC CRAPS STRATEGY
Here's an example of the three types of outcomes that result when a new shooter plays
and how you should bet.
Assume new shooter is getting ready to make the comeout roll and you make a $10 bet
(or whatever amount you want) on the pass line. The shooter rolls a 7 or 11 on the
comeout. You win $10, the amount of your bet.
You bet $10 again on the pass line and the shooter makes a comeout roll again. This time
a 3 is rolled (the player "craps out"). You lose your $10 pass line bet.
You bet another $10 and the shooter makes his third comeout roll (remember, each
shooter continues to roll until he sevens out after making a point). This time a 4 is rolled
- one of the place numbers or "points". You now want to take an odds bet, so you place
$10 directly behind your pass line bet to indicate you are taking the odds. The shooter
continues to roll the dice until a 4 is rolled (the point is made), at which time you win $10
on your pass line bet, and $20 on your odds bet (remember, a 4 is paid at 2 to 1 odds), for
a total win of $30. Take your chips off the table and get ready to bet again.
However, if a 7 is rolled before the point number (in this case, before the 4), you lose
both your $10 pass line bet and your $10 odds bet.
And that's all there is to it! You simply make you pass line bet, take odds if a point is
rolled on the comeout, and then wait for either the point or a 7 to be rolled. Ignore all the
other confusion and sucker bets. Your have the best bet in the casino and are playing
wisely.
IMPORTANT NOTES ABOUT ODDS BETS
Odds bets can be made any time after a comeout point is rolled. You don't have to make
them right away . However, you'd be foolish not to make an odds bet as soon as possible
considering it's the best bet on the table. However, you are permitted to make, withdraw,
or reinstate an odds bet anytime after the comeout and before a 7 is rolled.
When you win an odds bet, be sure to take your chips off the table. Otherwise, they are
considered to be automatically "off" on the next comeout and will not count as another
odds bet unless you specifically tell the dealer that you want them to be "working". But
in a fast moving and loud game, your request may not be heard, so it's better to simply
take your winnings off the table and bet again with the next comeout.
table, chips flying everywhere and players yelling, it's exiting to watch and exciting to play.
Craps also has the one of the lowest house edges against you of any casino game, but only if you
make the right bets. In fact, with one type of bet (which you will soon learn) you play even with the house, meaning that the house has a zero edge. This is the only casino game where this is true.
THE TABLE LAYOUT
The craps table is slightly larger than a standard pool table, with a wood railing that goes
around the outside edge. This railing acts as a backboard for the dice to be thrown
against and is sponge-lined on the inside with random patterns so that the dice bounce
randomly. Most table rails also have grooves on top where you can place your chips.
The table surface is a tight fitting green felt with designs to indicate all the various bets
that can be made in craps. It's very confusing for a beginner, but all you really need to
concern yourself with right now is the "Pass Line" area and the "Don't Pass" area. These
are the only bets you will make in our basic strategy (and for the most part the only bets
worth making, period).
BASIC GAME PLAY
Don't let the confusing layout of the craps table intimidate you. The basic game itself is
very simple. A new game with a new player (the person shooting the dice) begins when
the current player "sevens out", which means he rolls a seven. That ends his turn and a
new player is given the dice.
The new player makes either a pass line bet or a don't pass bet (explained below) and
then throws the dice, which is called the "comeout roll".
If that first roll is a 7 or 11, this is called "making a pass" and the "pass line" betters win
and "don't pass" betters lose. If a 2, 3 or 12 are rolled, this is called "craps" and pass line
betters lose, while don't pass line betters win. However, don't pass line betters do not
win if the "craps" number is a 12 in Las Vegas or a 2 in Reno and Tahoe. In this case,
the bet is push - neither the player nor the house wins. All pass line and don't pass line
bets are paid even money.
Barring one of the three "craps" numbers from winning for don't pass line bets is what
gives the house it's low edge of 1.4 percent on all line bets. The don't pass bettor has a
stand-off with the house when one of these barred numbers is rolled. Otherwise, the
don't pass bettor would have a small advantage over the house - something that no
casino permits!
If a number other than 7, 11, 2, 3, or 12 is rolled on the comeout (in other words, a
4,5,6,8,9,10), that number is called a "place" number, or simply a number or a "point".
In this case, the shooter continues to roll until that place number is rolled again, which is
called "making the point", at which time pass line betters win and don't pass bettors lose,
or a 7 is rolled, which is called "sevening out". In this case, pass line bettors lose and
don't pass bettors win. When a player sevens out, his turn is over and the whole process
begins again with a new player.
Once a shooter rolls a place number (a 4.5.6.8.9.10), many different types of bets can be
made on each subsequent roll of the dice, until he sevens out and his turn is over.
However, they all have odds in favor of the house, many of them heavily in favor of the
house, with the exception of two: odds on a line bet, and "come" bets. Of these two, we
will only consider the odds on a line bet, as the "come" bet is a bit
more confusing.
You should ignore all other bets, as they carry odds that are too high against you. Yes,
this means that all those other players that are throwing chips all over the table with each
roll of the dice and making "field bets" and "hard way" bets are really making sucker
bets. They may know all the many bets and special lingo, but you will be the smarter
gambler by simply making line bets and taking the odds.
Now let's talk about line bets, taking the odds, and how to do it.
LINE BETS
To make a line bet, simply place your money on the area of the table that says "Pass
Line", or where it says "Don't Pass". These bets pay even money when they win,
although it's not true even odds because of the 1.4 percent house edge discussed earlier.
When you bet the pass line, it means you are betting that the shooter either makes a 7 or
11 on the comeout roll, or that he will roll one of the place numbers and then roll that
number again ("make the point") before sevening out (rolling a 7).
When you bet on the don't pass line, you are betting that the shooter will roll either a 2 or
a 3 on the comeout roll (or a 3 or 12 if in Reno and Tahoe), or will roll one of the place
numbers and then seven out before rolling the place number again.
Odds on a Line Bet (or, simply called "odds bets")
When a point has been established (a place number is rolled) on the comeout, you are
permitted to take true odds against a 7 appearing before the point number is rolled again.
This means you can bet an additional amount up to the amount of your line bet. This
called an "odds" bet.
Your odds bet can be any amount up to the amount of your line bet, although many
casinos will now allow you to make odds bets of two, three or even more times the
amount of your line bet. This odds bet is paid at a rate equal to the odds of that point
number being made before a 7 is rolled.
You make an odds bet by placing your bet directly behind your pass line bet. You notice
that there is nothing on the table to indicate that you can place an odds bet, while there
are indications loudly printed all over that table for the other "sucker" bets. This is
because the casino does not want to encourage odds bets. You have to know that you can
make one.
Here's how these odds are computed. Since there are 6 ways that a number 7 can be
rolled and 5 ways that a 6 or 8 can be rolled, the odds of a 6 or 8 being rolled before a 7 is
rolled again are 6 to 5 against you. This means that if the point number is a 6 or 8, your
odds bet will be paid off at the rate of 6 to 5. For every $10 you bet, you will win $12
(bets smaller or larger than $10 are of course paid at the same 6 to 5 ratio). The odds of a
5 or 9 being rolled before a 7 is rolled are 3 to 2, so you get paid $15 for every $10 bet.
The odds of 4 or 10 being rolled first are 2 to 1, so you get paid $20 for every $10 you
bet.
Note that these are true odds - you are paid exactly proportional to your chance of
winning. This is the only true odds bet you will find in a casino, so be sure to make it
whenever you play craps.
AN EASY TO LEARN BASIC CRAPS STRATEGY
Here's an example of the three types of outcomes that result when a new shooter plays
and how you should bet.
Assume new shooter is getting ready to make the comeout roll and you make a $10 bet
(or whatever amount you want) on the pass line. The shooter rolls a 7 or 11 on the
comeout. You win $10, the amount of your bet.
You bet $10 again on the pass line and the shooter makes a comeout roll again. This time
a 3 is rolled (the player "craps out"). You lose your $10 pass line bet.
You bet another $10 and the shooter makes his third comeout roll (remember, each
shooter continues to roll until he sevens out after making a point). This time a 4 is rolled
- one of the place numbers or "points". You now want to take an odds bet, so you place
$10 directly behind your pass line bet to indicate you are taking the odds. The shooter
continues to roll the dice until a 4 is rolled (the point is made), at which time you win $10
on your pass line bet, and $20 on your odds bet (remember, a 4 is paid at 2 to 1 odds), for
a total win of $30. Take your chips off the table and get ready to bet again.
However, if a 7 is rolled before the point number (in this case, before the 4), you lose
both your $10 pass line bet and your $10 odds bet.
And that's all there is to it! You simply make you pass line bet, take odds if a point is
rolled on the comeout, and then wait for either the point or a 7 to be rolled. Ignore all the
other confusion and sucker bets. Your have the best bet in the casino and are playing
wisely.
IMPORTANT NOTES ABOUT ODDS BETS
Odds bets can be made any time after a comeout point is rolled. You don't have to make
them right away . However, you'd be foolish not to make an odds bet as soon as possible
considering it's the best bet on the table. However, you are permitted to make, withdraw,
or reinstate an odds bet anytime after the comeout and before a 7 is rolled.
When you win an odds bet, be sure to take your chips off the table. Otherwise, they are
considered to be automatically "off" on the next comeout and will not count as another
odds bet unless you specifically tell the dealer that you want them to be "working". But
in a fast moving and loud game, your request may not be heard, so it's better to simply
take your winnings off the table and bet again with the next comeout.
Monday, October 27, 2008
Casino Business Opportunity
There are really two main options to owning a casino business. One is to purchase a casino business for sale such as an online casino. More and more people are gambling online. A start up of this business can run from less than $200 to over $5,000. It is all dependent on who you want to run it.
There are many franchises with a casino business plan already laid out for you. There are also pre-built poker and casino rooms that can start your online casino business. Either way you will be set up with a web site and given all the tools you will need to succeed. However, you will be responsible for all marketing of your web site. Some franchise's offer you proven guidelines to help you market, and others don’t. To market on the internet costs money, and the more money you put out the more hits on your web site.
This is truly a home business. You will make money 24 hours a day, seven days a week. Many online casino business opportunities make 75% to 85% of the monthly deposits of your customers. Your good marketing can make this a very lucrative business.
There is also another option, and that is to start a casino business opportunity that caters to employers, corporations, non-profit and civic clubs. It is a growing business that more people are using for fun and profit. You go to a location and create the atmosphere of a real casino. Many are willing to pay to have this outlet for their employees or as fund-raisers.
Before going out and purchasing cards, roulette wheels and tables, you should create a casino business plan. This will help you discover if you will need a license to operate the business, and what locations you cannot operate. But first call or log on to your local and state government web site, and ask about regulations and requirements for your casino business opportunity.
Once you have that information, go to your local Small Business Administration office or log on to their web site. You will find asample business plan and other forms you will need, mentors, financing information, and other options to help you get your casino business opportunity started.
While working on your casino business plan, start pricing your equipment, and looking for employees. You may be able to contact a local temporary employee service for employees when you are first starting, but you may just want to explain to the employee that they are paid per event. This is an important decision and needs to be decided early on in the venture.
Now that your casino business plan is ready, start looking for financing. You can contact private individuals, banks, and the Small Business Administration. Prepare a proposal explaining your casino business opportunity and business plan. You may be turned away and turned down. Be persistent, you will get financing.
Once you have the financing start advertising your business and purchase your equipment. Get your employees ready to start working. You can send out fliers to corporations explaining your service, and focus on the use of it during conferences to relax and entertain the employers.
Contact Hotels and events facilities to sell your casino business opportunity as well. Many times the facility is required to offer entertainment to conference attendees. This will work in your favor and help you get clients.
Also, let local non-profit organizations know about the opportunity to use your service as a fund-raiser. You can create an exquisite casino business opportunity that is fun and different to help them raise money for their charity or cause. Any of these options or all of them can keep your casino business opportunity busy.
Review your casino business plan annually and make changes as necessary. You also want to subscribe to newsletters and periodicals in the industry to keep abreast of the industry trends. Read books and visit web sites. Most of all, watch your competition.
There are many franchises with a casino business plan already laid out for you. There are also pre-built poker and casino rooms that can start your online casino business. Either way you will be set up with a web site and given all the tools you will need to succeed. However, you will be responsible for all marketing of your web site. Some franchise's offer you proven guidelines to help you market, and others don’t. To market on the internet costs money, and the more money you put out the more hits on your web site.
This is truly a home business. You will make money 24 hours a day, seven days a week. Many online casino business opportunities make 75% to 85% of the monthly deposits of your customers. Your good marketing can make this a very lucrative business.
There is also another option, and that is to start a casino business opportunity that caters to employers, corporations, non-profit and civic clubs. It is a growing business that more people are using for fun and profit. You go to a location and create the atmosphere of a real casino. Many are willing to pay to have this outlet for their employees or as fund-raisers.
Before going out and purchasing cards, roulette wheels and tables, you should create a casino business plan. This will help you discover if you will need a license to operate the business, and what locations you cannot operate. But first call or log on to your local and state government web site, and ask about regulations and requirements for your casino business opportunity.
Once you have that information, go to your local Small Business Administration office or log on to their web site. You will find asample business plan and other forms you will need, mentors, financing information, and other options to help you get your casino business opportunity started.
While working on your casino business plan, start pricing your equipment, and looking for employees. You may be able to contact a local temporary employee service for employees when you are first starting, but you may just want to explain to the employee that they are paid per event. This is an important decision and needs to be decided early on in the venture.
Now that your casino business plan is ready, start looking for financing. You can contact private individuals, banks, and the Small Business Administration. Prepare a proposal explaining your casino business opportunity and business plan. You may be turned away and turned down. Be persistent, you will get financing.
Once you have the financing start advertising your business and purchase your equipment. Get your employees ready to start working. You can send out fliers to corporations explaining your service, and focus on the use of it during conferences to relax and entertain the employers.
Contact Hotels and events facilities to sell your casino business opportunity as well. Many times the facility is required to offer entertainment to conference attendees. This will work in your favor and help you get clients.
Also, let local non-profit organizations know about the opportunity to use your service as a fund-raiser. You can create an exquisite casino business opportunity that is fun and different to help them raise money for their charity or cause. Any of these options or all of them can keep your casino business opportunity busy.
Review your casino business plan annually and make changes as necessary. You also want to subscribe to newsletters and periodicals in the industry to keep abreast of the industry trends. Read books and visit web sites. Most of all, watch your competition.
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