you actually spend
in a casino, the less exciting and glamorous casinos
get - especially if you are trying to earn your
daily bread there but are, instead, consistently
losing your dough; and two, craps is a negative
expectation game that is very hard to beat in the
long run and it isn’t conducive to the stuff
livings are made of.
Most mathematicians
would say (correctly) that unless someone can control
the outcome of the dice roll or find enough shooters
over time who can, the math of craps is unassailable.
This is absolutely true. Even the best bets at the
craps table come with a house edge or vig. Make
pass line and come bets, and you will lose 1.4 percent
of all the money you put into action in this way.
Play its opposite, the don’t pass and the don’t
come, and you face almost the same house edge albeit
a fraction lower. The taking of odds, while it lessens
the overall impact of the house edge by reducing
it in the short run by spreading it out over more
money, does not change the fact that if your typical
bet on the pass line is $5, you will lose seven
cents on average every time you make the bet. You
can put $10 in odds behind that $5 (double odds),
or you can put $500 behind that $5 (100X odds) and
you are still going to lose seven cents on that
$5 pass line bet.
Certainly 1.4 percent
is a small edge to be sure. Certainly 1.4 percent
is nothing to tremble at if you are a recreational
casino gambler. But 1.4 percent is the sword of
Damocles if you are trying to make a living. It
is tantamount to saying: “I am going to invest
in a company that will lose me seven cents for every
$5 I invest and that is guaranteed!” Only an
insane person would make such an investment.
Craps
Exception Rule Part 2
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