Dear Frank:
Can you please tell me what the difference is between a casino that does not charge a vig on the 4 and 10 at a $10 rate, and a casino that charges a vig at a $20 rate?
Can you please demonstrate the percentages between the two examples?
Thank you so much!
Chris
Dear Chris:
If there is no vig, meaning no house edge at a $10 bet on the 4 or 10, you get paid $20 for a $10 bet. The casino does not take any money from you. The game is breakeven.
The payoff for a normal $10 place bet on the 4 or 10 is $18-to-$10. Thus, the house edge is 6.67% or a loss of 67 cents per $10 wagered.
If a casino allows you to buy the 4 or 10 for $20 where you pay the $1 vig on both wins and losses, the house edge is 4.76%. You will lose 94 cents on your bet.
If the $1 vig is only taken out of winning buys bets, then buying the $20 comes in with a house edge of 1.67% or a loss of 66 cents.
For your letter, I am giving you a free 30-day subscription to my private members-only website at www.goldentouchcraps.com. We have over 5,000 members on this site and I think you will enjoy it.
All the best in and out of the casinos!
Frank Scoblete
