Treat casino chips as
hard earned cash
13 August 1999
By Mark Pilarski
Dear Mark,
Why is it that when I bet real cash instead of
swapping for chips, I'm frowned on by the
casino? Gerry G.
A casino goal, Gerry, is to create a fantasyland
experience for its patrons. One wily way is to
devalue your money by having you bet chips
instead of legal tender. Think of the deceptive
nicknames chips have. A $5 chip is a "nickel"
and a $25 chip a "quarter." Your best
self-defense is to continue to bet with your own
greenback. This way you'll always realize its
genuine value.
If you do turn your bankroll into chips, take a
moment and carefully think about the exchange.
You must always treat chips as hard-earned
cash-like the money you save for your child's
college tuition, mortgage payments or your
retirement.
Dear Mark,
In many of your answers you reference 9/6 video
poker machines. How do you know if a machine has
a 9/6 payback? I hoped I asked that correctly?
Sandie M.
In earlier columns, Sandie, the message was
perfect but the messenger wasn't. Ding-dong me,
I sometimes forget my reading audience hasn't
been in the gaming business for 18 years. Sorry.
A 9/6 payback is your return for a full house
(9) and a flush (6) with one coin inserted. Your
typical 9/6 Jacks-or-Better paytable will look
like this:
Royal Flush 250
Straight Flush 50
Four of a Kind 25
Full House 9
Flush 6
Straight 4
Three of a Kind 3
Two Pair 2
Jacks or Better 1
And how does the casino tighten a
Jacks-or-better video poker machine? Simply by
paying out less for a full house and flush. This
is why on a Jacks-or-better machine I
ceaselessly recommend shopping for value by
finding the highest payout possible for a full
house and a flush.
Dear Mark,
Almost every weekend I visit the casinos in
Joliet. My brother-in-law believes they tighten
the slot machines on weekends because the crowds
are much larger. How do I know for sure that a
casino won't change the return on their
machines. Dirk C.
Fear not, Dirk. Illinois, having rigid gaming
regulations, requires two keys just to open a
slot machine. One is held by a casino employee,
the other by a state gaming regulator. This
prevents changes in a machine's payout rate.
Dear Mark,
After reading a recent column of yours, I've
realized that I've been making the worst
possible bet on the roulette table. Furthermore,
you also educated me on looking for a single
zero roulette wheel on my next trip to Las
Vegas. But how much was I giving away to the
casino on the five number bet before you helped
me see the light? Wrongdoer
Dear Wrongdoer (Lessons Learned would be a nicer
name): The five number bet you were placing,
0/00/1/2/3 pays 7 for 1, with a return of .9211
on the dollar, or a house edge of 7.89%. Glad I
could help you see the light.
Dear Mark,
What is the value of doubling down on a
blackjack game? Am I not exposing additional
money which I could lose to the casino? Ross S.
Sorry, Ross, I'm a huge fan of doubling down.
Here's an opportunity where you now know what
the dealer's up-card is, and the casino is
allowing you to bet more money.
In blackjack, Ross, it's the natural blackjacks,
splitting pairs and the ability to double down
that bring your bankroll from red to black. If
you're playing perfect strategy, not winging it,
doubling down becomes the offensive strategy you
use when the chances of winning the hand are
better than the dealer's. Why? Because betting
more when the casino is at a distinct
disadvantage will increase your potential return
more than if you were to just hit your hand.
|
