Better returns can make
for bigger losses
25 May 2007
By Mark Pilarski
Dear Mark: If a larger denomination slot machine
returns more, then how come when I play at a
higher limit, like dollars versus quarters, I
end up losing more money? Beth S.
Even though the house edge is lower when you
play larger-denomination-coin machines, you can
also have a greater expected loss. Let's see
why.
Using Nevada's revenue statistics as an example,
(the figures from other gaming jurisdictions
will be within a percentage point or two) dollar
slots pay back 4.5%, quarter slots 7.5%, nickel
slots approximately 9% and penny slots around
12% of the money played through them.
Note, Beth, that the higher the denomination of
the machine, the better your chances of being a
winner. Yet, you are going to lose more money at
the higher limits, especially without a
significant win, simply because you are cycling
more money through these machines, for a smaller
hoped-for percent return, when you play at a
higher denomination.
Dear Mark: On a Jacks and Better video poker
machine, how should I play the following hand?
Should I keep a suited 10 and Queen, or keep an
unsuited Jack and Queen? Jeff D.
Smart players discard certain cards to optimize
the "expected value" (win potential) of their
hands. It's called perfect basic strategy, Jeff,
and it's the secret to winning at video poker.
So exactly what do I mean by "expected value?"
Expected value is the average value of all the
wins attainable after the discards are replaced,
assuming that the optimum cards are retained,
and that each possible draw occurs. In your
example, Jeff, the correct strategy is to keep
the suited 10 and Queen and discard the unsuited
Jack.
Dear Mark: In Texas Hold'em, what happens if
both players use all five cards on the board to
form their hand? Can both players use the unused
cards in their hand to settle a tie? Shelly F.
In Texas Hold'em, any player remaining in the
game at the end will determine the highest poker
value amongst the combination of their two cards
dealt face down, the five community cards, or
both. It is NOT a requirement that the player
use either of the hole cards.
When two or more players have poker values of
the same rank, then the individual cards will be
used to break the tie, and if necessary, all
five cards will be considered.
What NEVER settles a tie, Shelly, is either
player using the two unused cards in their hand.
Dear Mark: What should the meter be reading in
Caribbean Stud Poker before it would be
justified playing the progressive jackpot? Also,
what is the casino edge on the game itself? Nick
L.
Caribbean Stud offers a progressive jackpot that
you may qualify to win on any hand by adding one
additional dollar to your original wager. The
top prize is paid when a player is dealt a royal
flush. The problem, Nick, is that there are
2,598,560 possible five-card combinations in a
standard 52-card deck. With four ways to make a
royal flush, the true odds of hitting a natural
royal are 649,760 to one. Huh? Pretty long odds,
isn't it?
Only you, Nick, can decide what size jackpot
justifies making a dollar donation to the casino
every 45 seconds.
As for the game itself, the casino edge for
Caribbean Stud is a hefty 5.3%.
Gambling Wisdom of the Week: "Try to decide how
good your hand is at a given moment. Nothing
else matters. Nothing!" -- Doyle Brunson
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