The EDGE, the HOLD, and
that friendly PASS LINE
28 April 2006
By Mark Pilarski
Dear Mark,
The Mississippi Gaming Commission recently
posted the "Hold" percentage for table games on
the coast. Blackjack was listed at 14.58%. If,
using perfect basic playing strategy, the house
edge is supposed to be approximately one half of
1%. Am I comparing apples and oranges, or is the
average BJ player completely ignoring basic
playing strategy? Ray F.
Yes and yes. But for starters, Ray, you are
confusing house edge with casino hold.
The "house edge" is a predetermined percentage
of each bet that the house takes as payment for
letting you sit at their tables. The casino's
"hold" is the share of the chips the player
bought that are won back by the casino. It’s not
all that hard for the casino to turn a house
edge of 1% and then, “Presto! begone!” turn it
into a 14-plus percent hold.
Casinos, Ray, are not in the gambling business.
They are in the math-and-time business. Casino
operators know that, even considering a halfway
decent blackjack player, the longer his keister
is in their seats, the higher their hold will
climb.
Allow me to clarify. Most blackjack players give
up 5% of their wager to the house based on their
shoddy play. (The house has a 5% advantage
against the “average” blackjack player.
Incredibly, less than 1% of all BJ players
employ perfect basic strategy.) Consequently,
after 20 hands, based on perpetual play, they
should mathematically have $95 remaining. But
the average player stays stuck to the stool, so
with their remaining $95, slowly but surely,
they fatten up their losses, giving the house a
higher hold than the actual casino edge on the
game.
Multiply that, Ray, by 24 hours a day play,
grinding away at squatters on hundreds of
blackjack tables across Mississippi, and 14.58%
doesn’t really seem all that high. The only one
gambling here is the blackjack player, not the
casino.
The only way you, the gambler, can avoid getting
caught in this grind is to shorten your gambling
timeline. Casino operators know all too well
that such cautious behavior has negative
implications on the casino’s hold. They would
much prefer to see you crazy glued to a stool
and anteing-up casino chips all day long.
Dear Mark,
I don’t gamble a lot, but when we have guests
who think we’re lucky to live only 15 minutes
from a sharp casino, we always take them, and I
play craps, my favorite. I’ve been told that the
best bet is on the pass line, and wonder if it’s
true. Brenda C.
Craps with cronies can be enjoyable
entertainment, and based on your pass line play,
you’re already an expert amongst your friends.
Still, less than one percent of players who
belly up to the game understand dice as you do.
Most players are greener than the felt on the
table. So, Brenda, allow me to give your
gambling gang and fellow readers the only bets
you really want to make on a crap table. The
best bets on a crap game are the pass and come
line bets you subscribe to, those wagers with
odds, and the placing of the 6 or 8. These three
wagers have a casino edge of 1.5% or lower.
Stick to these three, and you’ll be certified to
get your teaching credentials.
Gambling Wisdom of the Week: Besides lovemaking
and singing in the shower, there aren’t many
human activities where there is a greater
difference between a person’s self-delusional
ability and actual ability than in poker. --
Steve Badget
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