| Play smart...learn how to play casino craps the right way! |
| Calculating the House Advantage by William J. Enslen, Jr. |
Be smart, play smart, and learn how to play craps the right way.
Although concise and not as in-depth as my book, this article
shows you how the casino gets its advantage over the player.
My book, The Secret to Craps: The Right Way to Play, clearly
and logically explains all aspects of the math, distributions,
variances, calculating odds, and everything else you need to
know to become a truly knowledgeable craps player. When you
understand the math and the fact that casinos pay
less-than-true odds, you understand why you can't beat the
casino over the long haul. The following simple comparison
between two bet types demonstrates two fundamentals that the
player must fully understand before putting money on the table.
Let's look at the Place 6 and the Big 6.
With these two bets, we bet the number 6 against the number 7.
Knowing there are 36 possible two-dice combinations, let's
assume we experience a "perfect distribution" where, in 36 rolls,
the number 6 appears five times and the number 7 appears six
times (my book explains the easy math for calculating how many
times a number appears in a 36-roll perfect distribution). When
betting the 6 against the 7 over 36 rolls, we make a total of 11
bets (i.e., we win five times when the 6 appears and we lose six
times when the 7 appears; therefore, 5 + 6 = 11). It's important
to understand that the casino takes a set percentage out of
every possible bet (except the free Odds bet). So, instead of
true odds, they screw the player by paying casino odds, which
are less-than-true. Given these basic assumptions, let's look
closer at the Place 6 and the Big 6.
The Place 6: To get the full Place odds (i.e., casino odds of
7:6, which are less than the true odds of 6:5), assume we bet
$6 on each of the 11 bets. (The 7:6 odds means for each $6
bet that we win, we win $7.) Therefore, our total bet investment
is $66 (i.e., 11 x $6 = $66). We win five bets when the 6
appears; therefore, we win $35 (i.e., 5 x $7 = $35). We lose six
bets when the 7 appears; therefore, we lose $36 (6 x $6 = $36).
By winning $35 and losing $36, our net loss is $1. We
determine the house advantage by dividing our $1 net loss by
our $66 total investment, which results in a 1.52% house
advantage (i.e., 1 / 66 = 0.01515, which equals 1.52%). A
1.52% house advantage means we can expect to lose an
average of about $0.15 for every $10 bet.
The Big 6: This is an even-money bet (i.e., casino odds of
1:1), which means if we bet $6 and win, we win $6. Like the
Place 6, our total betting investment is $66 over a 36-roll
perfect distribution (i.e., $6 x 11 = $66). We win five bets when
the 6 appears; therefore, we win $30 (i.e., 5 x $6 = $30). We
lose six bets when the 7 appears; therefore, we lose $36 (i.e.,
6 x $6 = $36). By winning $30 and losing $36, our net loss is
$6. We determine the house advantage by dividing our $6 net
loss by our $66 total investment, which results in a whopping
9.09% house advantage (i.e., 6 / 66 = 0.0909, which equals
9.09%). A 9.09% house advantage means we can expect to
lose an average of about $0.91 for every $10 bet.
Although each bet is the same amount (i.e., $6), which do you
think is the better bet and which do you think is the stupid bet in
terms of the player? Yes, very good! See how easy this is?
(Don't fear the math. My book explains it in simple terms.) The
$6 Place 6 is a much smarter bet than the Big 6. I don't know
about you, but I'd rather lose an average of only $0.15 for every
$10 bet than an average of $0.91 per $10 bet. This simple
example clearly demonstrates two fundamentals the player must
fully understand: 1) Over time, the player cannot conquer the
house advantage and beat the casino, and
2) Certain bets are better than others in terms of the player
because of their lower house advantage.
My book, The Secret to Craps: The Right Way to Play, teaches
you the math in an easy-to-understand method similar to the
example above, but with more detailed explanations. You'll also
learn the house advantage for every bet on the table so you
know which to make and which to avoid.
So, if the casino has a built-in house advantage that no one can
beat over time, why do knowledgeable players bother playing?
If we're all doomed to long-term failure, why play? Two reasons:
1) The incredible fun and excitement that we experience at a
craps table, and 2) The phenomenon called "distribution
variance." We rarely experience a perfect distribution in the
relatively short time that we play because variance sneaks into
the equation. Understanding variance and how to use it to our
advantage is a prerequisite to learning the secret to casino
craps and craps online. And that secret, my friend, is clearly
explained in my book. So, what are you waiting for? The $25
price tag is a small price to pay for the knowledge you'll gain
from this book. Knowledge is money. And more knowledge is
more money.
Now you know! Remember, be smart, play smart, and learn
how to play craps the right way.
back to Articles
Although concise and not as in-depth as my book, this article
shows you how the casino gets its advantage over the player.
My book, The Secret to Craps: The Right Way to Play, clearly
and logically explains all aspects of the math, distributions,
variances, calculating odds, and everything else you need to
know to become a truly knowledgeable craps player. When you
understand the math and the fact that casinos pay
less-than-true odds, you understand why you can't beat the
casino over the long haul. The following simple comparison
between two bet types demonstrates two fundamentals that the
player must fully understand before putting money on the table.
Let's look at the Place 6 and the Big 6.
With these two bets, we bet the number 6 against the number 7.
Knowing there are 36 possible two-dice combinations, let's
assume we experience a "perfect distribution" where, in 36 rolls,
the number 6 appears five times and the number 7 appears six
times (my book explains the easy math for calculating how many
times a number appears in a 36-roll perfect distribution). When
betting the 6 against the 7 over 36 rolls, we make a total of 11
bets (i.e., we win five times when the 6 appears and we lose six
times when the 7 appears; therefore, 5 + 6 = 11). It's important
to understand that the casino takes a set percentage out of
every possible bet (except the free Odds bet). So, instead of
true odds, they screw the player by paying casino odds, which
are less-than-true. Given these basic assumptions, let's look
closer at the Place 6 and the Big 6.
The Place 6: To get the full Place odds (i.e., casino odds of
7:6, which are less than the true odds of 6:5), assume we bet
$6 on each of the 11 bets. (The 7:6 odds means for each $6
bet that we win, we win $7.) Therefore, our total bet investment
is $66 (i.e., 11 x $6 = $66). We win five bets when the 6
appears; therefore, we win $35 (i.e., 5 x $7 = $35). We lose six
bets when the 7 appears; therefore, we lose $36 (6 x $6 = $36).
By winning $35 and losing $36, our net loss is $1. We
determine the house advantage by dividing our $1 net loss by
our $66 total investment, which results in a 1.52% house
advantage (i.e., 1 / 66 = 0.01515, which equals 1.52%). A
1.52% house advantage means we can expect to lose an
average of about $0.15 for every $10 bet.
The Big 6: This is an even-money bet (i.e., casino odds of
1:1), which means if we bet $6 and win, we win $6. Like the
Place 6, our total betting investment is $66 over a 36-roll
perfect distribution (i.e., $6 x 11 = $66). We win five bets when
the 6 appears; therefore, we win $30 (i.e., 5 x $6 = $30). We
lose six bets when the 7 appears; therefore, we lose $36 (i.e.,
6 x $6 = $36). By winning $30 and losing $36, our net loss is
$6. We determine the house advantage by dividing our $6 net
loss by our $66 total investment, which results in a whopping
9.09% house advantage (i.e., 6 / 66 = 0.0909, which equals
9.09%). A 9.09% house advantage means we can expect to
lose an average of about $0.91 for every $10 bet.
Although each bet is the same amount (i.e., $6), which do you
think is the better bet and which do you think is the stupid bet in
terms of the player? Yes, very good! See how easy this is?
(Don't fear the math. My book explains it in simple terms.) The
$6 Place 6 is a much smarter bet than the Big 6. I don't know
about you, but I'd rather lose an average of only $0.15 for every
$10 bet than an average of $0.91 per $10 bet. This simple
example clearly demonstrates two fundamentals the player must
fully understand: 1) Over time, the player cannot conquer the
house advantage and beat the casino, and
2) Certain bets are better than others in terms of the player
because of their lower house advantage.
My book, The Secret to Craps: The Right Way to Play, teaches
you the math in an easy-to-understand method similar to the
example above, but with more detailed explanations. You'll also
learn the house advantage for every bet on the table so you
know which to make and which to avoid.
So, if the casino has a built-in house advantage that no one can
beat over time, why do knowledgeable players bother playing?
If we're all doomed to long-term failure, why play? Two reasons:
1) The incredible fun and excitement that we experience at a
craps table, and 2) The phenomenon called "distribution
variance." We rarely experience a perfect distribution in the
relatively short time that we play because variance sneaks into
the equation. Understanding variance and how to use it to our
advantage is a prerequisite to learning the secret to casino
craps and craps online. And that secret, my friend, is clearly
explained in my book. So, what are you waiting for? The $25
price tag is a small price to pay for the knowledge you'll gain
from this book. Knowledge is money. And more knowledge is
more money.
Now you know! Remember, be smart, play smart, and learn
how to play craps the right way.
back to Articles
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When craps is too much of a hassle with all its wagers and payouts, you might want to relax with a
simple casino game. The best choice is keno, and to be honest, there's no keno strategy. Just pick
your numbers and hope they hit.
simple casino game. The best choice is keno, and to be honest, there's no keno strategy. Just pick
your numbers and hope they hit.