CasinoCityTimes.com

Gurus
News
Newsletter
Author Home Author Archives Author Books Send to a Friend Search Articles Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Recent Articles
Best of Frank Scoblete

Gaming Guru

author's picture
 

Frank Scoblete Presents: Can I improve my chances of winning with multiple bets?

7 February 2009

Frank Scoblete presents an article by guest columnist Skinny.

A poster on the Golden Touch Craps private website had the following question:

My math mind is saying that the more bets you have on the board the better chance there is for a win. My gaming mind (experience) says this doesn't work. I think that the assumption that if you have two bets at 1.65 vig that the vig will go down to .83 and as far as I understand it does not.

I answered the poster's question by giving an in depth explanation of the math involved when one makes multiple wagers. I am warning you in advance, this is strictly for those interested in numbers. If that is not "your thing" you are not going to enjoy this article.

Here is my answer to that poster:

Let me give you a specific example and see if that helps.

The house advantage (HA) on a place bet of the 6 or 8 is 1.52%. This means I can expect to lose 1.52% of all the money I wager when I place the 6 and/or 8 in a random game. If I just place the 6, I can expect to lose 1.52% of all the place bets I make on the 6. If I just place the 8, I can expect to lose 1.52% of all the place bets I make on the 8. If I place both the 6 and 8, I can expect to lose 1.52% of all the money I place on each of them.

That is the simple answer to your question. If you are curious and want to see how that works, I will now show how that calculation is made. If the math is confusing to you, then stop here and accept the above as being correct.

In a random game, I know that in the long run the probabilities of dice will average out and I can expect to see 5 sixes, 5 eights and 6 sevens thrown out of every 36 rolls. Of course, it will not happen like this exactly every session or over a short number of rolls, necessarily. But it will average out to that over a significantly large number of rolls.

Let us say I place the 6 only for $6. On average over 36 rolls, I can expect to win $7 on that bet 5 times and lose $6 on it 6 times. Thus I can expect to win $35 and lose $36 for a net loss of $1. I will have made this bet 11 times at $6 each, having wagered a total of $66 on my place bet of the 6. My net loss ($1) divided by my total amount wagered ($66) yields a HA of 1/66 = 1.52%

Another way of looking at it is, I make a $6 place bet on the 6, 11 times, wagering a total of $66 on this place bet. I can expect to lose 1.52% of the $66 I wagered on the 6 which equals 1.52% x $66 = .0152 x $66 = $1.

Obviously the same thing is true if I were to place the 8 instead because they both have the same probability of winning or losing.

Now let's look at what happens if I place the 6 and 8 together for $6 each. I can expect to win my wager on the 6, 5 times out of 36. I can expect to win my wager on the 8, 5 times out of 36. I can expect to lose both bets 6 times out of 36.

This means I can expect to win $7 on the 6, 5 times for $35; I can expect to win $7 on the 8, 5 times for $35; I can expect to lose $12 on the 6 and 8, 6 times for $72. I will end up with $70 - $72 for a net loss of $2. I will have wagered $6 on the 6, the 5 times I win the bet for $30, $6 on the 8, the 5 times I win that bet for $30 and $12 on the 6 and 8, the 6 times I lose both bets for $72. I will have wagered a total of $30 + $30 + $72 = $132 on the 6 and 8. Dividing my net loss (-$2) by the total amount wagered ($132) yields the following formula for the calculation of the HA. 2/132 = .0152 = 1.52%.

I can also look at it as follows. If I wager a total of $132 by placing both the 6 and 8, I can expect to lose 1.52% of the total amount wagered. 1.52% x $132 = .0152 x $132 = $2.

Recent Articles
Best of Frank Scoblete
Frank Scoblete

Frank Scoblete is the #1 best selling gaming author in America. His newest books are Slots Conquest: How to Beat the Slot Machines; Everything Casino Poker: Get the Edge at Video Poker, Texas Hold'em, Omaha Hi-Lo and Pai Gow Poker!; Beat Blackjack Now: The Easiest Way to Get the Edge; Casino Craps: Shoot to Win!; Cutting Edge Craps: Advanced Strategies for Serious Players; Casino Conquest: Beat the Casinos at Their Own Games! and The Virgin Kiss.

Frank and Casino City Times columnist Jerry "Stickman" teach private lessons in dice control. Frank's books are available at Amazon.com, in bookstores or by mail order. Call 1-800-944-0406 or write to Frank Scoblete Enterprises, PO Box 446, Malverne, NY 11565. Frank can also be reached by email at fscobe@optonline.net.

Frank Scoblete Websites:

www.goldentouchcraps.com
www.goldentouchblackjack.com

Books by Frank Scoblete:

> More Books By Frank Scoblete

Frank Scoblete
Frank Scoblete is the #1 best selling gaming author in America. His newest books are Slots Conquest: How to Beat the Slot Machines; Everything Casino Poker: Get the Edge at Video Poker, Texas Hold'em, Omaha Hi-Lo and Pai Gow Poker!; Beat Blackjack Now: The Easiest Way to Get the Edge; Casino Craps: Shoot to Win!; Cutting Edge Craps: Advanced Strategies for Serious Players; Casino Conquest: Beat the Casinos at Their Own Games! and The Virgin Kiss.

Frank and Casino City Times columnist Jerry "Stickman" teach private lessons in dice control. Frank's books are available at Amazon.com, in bookstores or by mail order. Call 1-800-944-0406 or write to Frank Scoblete Enterprises, PO Box 446, Malverne, NY 11565. Frank can also be reached by email at fscobe@optonline.net.

Frank Scoblete Websites:

www.goldentouchcraps.com
www.goldentouchblackjack.com

Books by Frank Scoblete:

> More Books By Frank Scoblete