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Subject:Overheard in a casino
Time:03:04 am
"My statistics teacher told me the best odds in the casino was on roulette."
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wordweaverlynn
Link:(Link)
Time:2010-02-07 12:52 pm (UTC)
That's what the speaker gets for throwing spitballs in class.
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tom_bayes
Link:(Link)
Time:2010-02-07 01:11 pm (UTC)
I'd have to really, really, really hate a student to tell them that.
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mjosephb
Link:(Link)
Time:2010-02-07 01:13 pm (UTC)
Maybe the professor was European? Oh wait, still not best odds...
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luckylefty
Link:(Link)
Time:2010-02-07 01:41 pm (UTC)
Apparently by "the casino", the teacher meant "Ralph's Roulette and Keno Parlor".
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sfogarty
Link:(Link)
Time:2010-02-07 01:55 pm (UTC)
IIRC, roulette has a 5% edge, whereas most blackjack games have 6.5% edge (assuming the dealer hits on 17s). What has better odds?
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dmorr
Link:(Link)
Time:2010-02-07 03:15 pm (UTC)
You do not recall correctly, at least as far as blackjack is concerned.

Also, craps is much better than roulette if you avoid the stupid bets.
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sfogarty
Link:(Link)
Time:2010-02-07 03:26 pm (UTC)
the best craps bet is 5.5% edge to the house, according to google.
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terrencechan
Link:(Link)
Time:2010-02-07 03:56 pm (UTC)
Well, that settles that. Consider yourself told, dmorr.
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hgfalling
Link:(Link)
Time:2010-02-07 04:51 pm (UTC)
The best craps bet is "bet the opposite side of whatever TJ is betting," OBVIOUSLY.
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terrencechan
Link:(Link)
Time:2010-02-07 05:53 pm (UTC)
Listen, one of these years, you're going to get the worst of it on a bet.

I'll be waiting for that day.
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hgfalling
Link:(Link)
Time:2010-02-07 06:58 pm (UTC)
I played pool with Gavin for $10/shot straight up this year toward the end of the series. He was like "whahuh?"
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tom_bayes
Link:(Link)
Time:2010-02-07 05:23 pm (UTC)
http://wizardofodds.com/craps
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sfogarty
Link:(Link)
Time:2010-02-07 05:29 pm (UTC)
Google lied to me! NOOOOOOOOOO!
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bbkahuna
Link:(Link)
Time:2010-02-09 05:34 am (UTC)
Don't pass line with max odds behind is the lowest edge craps wager, although that makes you an asshole, especially since the pass line with max odds is only marginally higher,

HA on most BJ variants assuming optimal play is between .4-1%

Roulette is pretty much the *worst* game you can play in a casino other than slots, although many people play table games with such poor strategy that it roughly approximates roulette and other games worth worse HA, and as a result many casinos including the ones that wisely comp based on net theoretical loss comp those games at a much higher percent than optimal play HA would actually be. Craps is usually rated pretty poorly for net theo, aside from the people who degen the center prop bets which have similarly awful edge.
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evwhore
Link:(Link)
Time:2010-02-10 11:22 pm (UTC)
Roulette is pretty much the *worst* game you can play in a casino other than slots

Keno, depending on the bet and the casino.

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rmd
Link:(Link)
Time:2010-02-07 01:56 pm (UTC)
best for whom?
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jpmassar
Link:(Link)
Time:2010-02-07 04:02 pm (UTC)
Lying teachers, damned teachers and statistics teachers?
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ronsrants
Link:(Link)
Time:2010-02-07 04:16 pm (UTC)
I'm confused. I thought $2/4 poker had the best odds in a casino.

-R
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tom_bayes
Link:(Link)
Time:2010-02-07 05:26 pm (UTC)
Only when you are in the game!
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hgfalling
Link:(Link)
Time:2010-02-07 04:50 pm (UTC)
A couple of years ago, I was chatting with Chris Ferguson at the WSOP and I pointed out that roulette really sucks, because you can't even really have fun at it. I mean, suppose you want to just do a little gamb00ling and have fun. You can give up ~1% on your total action at craps, blackjack, video poker, baccarat, pai gow, etc, without being very knowledgeable or having to practice that much. But any bet you make at roulette is just a flat 5.26%*. That's a lot to give up for a little entertainment.
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adb_jaeger
Link:(Link)
Time:2010-02-07 07:03 pm (UTC)
because you can't even really have fun at it.

Eh, not true. My brother and I played roulette with (I think) 0.10 chips at the Boyd casino next to Binions one year.

That was fun.
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tiurin
Link:(Link)
Time:2010-02-07 09:54 pm (UTC)
So I wonder what the EV is if some college kids play $5 craps in order to guzzle alcohol.
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stevecohen
Link:(Link)
Time:2010-02-08 03:48 am (UTC)
What kind of a degenerate would do that.

Binion's had $3 craps several times during BARGE this year.
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songmonk
Link:(Link)
Time:2010-02-07 10:30 pm (UTC)
I wonder whether the student heard right.
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[icon] Overheard in a casino - Patti
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