Dear Mark,
On a certain 25¢ video poker machine that I
like to play, the machine allows me to double up
what I've just won by picking high or low against
a pair of rolling dice. This really can't be a good
bet, right? Nancy R.
For
those of you who don't know it, some video poker machines
offer you the option of risking your current winning
hand for a chance at doubling your money. Though it
can be high/low against a machine-dealt playing card,
in Nancy's case, it's against a simulated dice roll
(2-6 under, 7 push, 8-12 over). At first glance, Nancy,
many players believe this is just another way for the
casino to pillage your purse. Not so, my friend. It's
actually
one of the best bets
in the casino. No house edge means a 50-50 chance
of you doubling your money. Sound too good to be
true? Yes and no.
Though each decision has exactly a 50-50 chance,
the odds of winning more than one in a row will
decline sharply. Experts are divided on whether
you're gambling on individual rolls or a sequence
of rolls (myself in the latter category), but either
way, the bet is heavily stacked against you if your
goal is to string 10 wins together. Also, don't
plan on doubling as often as you wish. We all think
of the possibilities, Nancy, like winning 19 hands
in a row with a $2.50 investment and becoming an
instant millionaire. Unfortunately, just like the
table games where table limits apply, the compounding
of money by parlaying winnings won't work here either.
Machines limit the doubling from as little as five
times in a row to 10,000 coins returned ($2,500).
So the long and short of it, Nancy, is to show some
strong money management (cash control) and play
this wager without going overboard.
