Dear
Mark,
I very much enjoy your helpful hints on casino gambling
in your columns, but I’m curious, what’s
the best advice you’ve ever heard preached?
Ned C.
In the
casino business, the best admonition to get ahead
is “Never make suggestions.” As for a gambling
nugget, the following voice of reason caught my attention
while I was walking down the Strip in Las Vegas.
A panhandler approached and asked if I had any loose
change so he could buy a hot dog. Unfortunately, spare
change doesn’t exist in Las Vegas. Strategically
positioned slot machines allow you to travel light.
But
I guess I’m an
easy mark for a hot dog story so I gave him a nickel
chip—casino talk for $5—that I had in
my coat pocket.
After his gratitude for my allowing him to bump
up into buffet dining, or whatever, he shared some
of his best gaming wisdom. “Go downtown to
Binion’s and make a pass line bet and take
those 10 times odds. It’s one of the best bets
in the house,” he said.
Guess what, Ned? He’s right on. The house advantage
on this wager is .018%. Those multiple odds he was
talking about— zero casino advantage. It’s
the line bet where the casino enjoys its slight
edge. And I mean slight. Expected mathematical loss
on a $1 line bet with $10 odds, about 4¢. But
we can combat that too, Ned. Throw in a few free
drinks and pry a breakfast out of a floorman, you’re
getting to the point where they’re paying you
to play.
Yes, advice comes from the funniest places.
