Two Plus Two Newer Archives  

Go Back   Two Plus Two Newer Archives > General Gambling > Other Gambling Games

Reply
 
Thread Tools Display Modes
  #11  
Old 11-21-2007, 03:19 PM
mingorama mingorama is offline
Senior Member
 
Join Date: Feb 2007
Posts: 246
Default Re: Comp Chips - How to Bet?

[ QUOTE ]
If your objective is to make a hedge bet so you're guaranteed a win, rather than risking the money, you should bet both banker and player at the same time on the Baccarat table. Player pays 1:1, banker pays 0.975:1.

[/ QUOTE ]

That's kind of what I used to do, when I would be the Pass and the Don't Pass with the chips, but they didn't allow that. I wonder if they'd block me doing that at the Baccarat table as well? You're right --- I am trying to hedge the bet... if I can covert the $100 comp chips into playable smaller denominations, that would be ideal.
Reply With Quote
  #12  
Old 11-21-2007, 03:30 PM
ImsaKidd ImsaKidd is offline
Senior Member
 
Join Date: Aug 2005
Location: CHOO CHOO
Posts: 11,074
Default Re: Comp Chips - How to Bet?

I would never plunk down my own money to hedge, thats always -EV.

I would just play some blackjack w/ the chips. You may need to use your own money to double or something, but I think its the least -EV you could get.
Reply With Quote
  #13  
Old 11-21-2007, 10:14 PM
Jim14Qc Jim14Qc is offline
Senior Member
 
Join Date: Nov 2006
Posts: 661
Default Re: Comp Chips - How to Bet?

[ QUOTE ]
I would never plunk down my own money to hedge, thats always -EV.

I would just play some blackjack w/ the chips. You may need to use your own money to double or something, but I think its the least -EV you could get.

[/ QUOTE ]

If you "have" to double, it's definitely NOT -EV.
Reply With Quote
  #14  
Old 11-22-2007, 01:51 AM
Poshua Poshua is offline
Senior Member
 
Join Date: Dec 2006
Location: New York, NY
Posts: 508
Default Re: Comp Chips - How to Bet?

[ QUOTE ]
[ QUOTE ]
They took this promotion away from my local casino when everyone started doing this....

Take the 100 comp plus 100 chip and bet 200 on banker in baccarat....

Then bet 150 on player....

If bank wins you get paid 200 and lose 150 on player.

If player wins you get paid 150 on player and lose 100 on bank.

Either way you are up $50.

[/ QUOTE ]

You're forgetting about the commission, aren't you?

Your local casino is not very sophisticated. They lose exactly the same amount on their promo chips to patrons playing them in this manner as they would to patrons playing only either side of the baccarat bet. The only thing that is altered is the variance--and from the casino's perspective, that probably matters very little due to the large number of promo chips used. The casino has only alienated some of their better customers who mistakingly thought they were getting away with something.

[/ QUOTE ]

I think this may not be a terrible decision on the casino's part, depending on how they award the chips. Players who choose to take the comp chip and hedge probably aren't going to be great sources of action for the casino generally. OTOH, the sorts of players who want to take the comp and GAMBOOOOL may be well worth comping.

If the casino has already awarded the comp chip based on knowledge about the player (e.g. previous play) then I agree it doesn't make sense to prohibit hedge bets.
Reply With Quote
  #15  
Old 11-22-2007, 02:24 PM
Jim14Qc Jim14Qc is offline
Senior Member
 
Join Date: Nov 2006
Posts: 661
Default Re: Comp Chips - How to Bet?

Just put it all on black you nit.

Also, you could just use them to gamble in the same way you gambled before to actually get the comp?
Reply With Quote
  #16  
Old 11-22-2007, 03:03 PM
RudeboyOi RudeboyOi is offline
Senior Member
 
Join Date: Dec 2004
Posts: 494
Default Re: Comp Chips - How to Bet?

idk why all of you players

are so concerned with hedging your bet

youre not risking anything its a free bet
Reply With Quote
  #17  
Old 11-22-2007, 10:57 PM
Poshua Poshua is offline
Senior Member
 
Join Date: Dec 2006
Location: New York, NY
Posts: 508
Default Re: Comp Chips - How to Bet?

[ QUOTE ]
idk why all of you players

are so concerned with hedging your bet

youre not risking anything its a free bet

[/ QUOTE ]

Of course you're risking something. Just because you didn't pay for the comp chip doesn't mean it has no value. If you found $100 on the floor and then bet it on black, would it be true that "you're not risking anything"?
Reply With Quote
  #18  
Old 11-22-2007, 11:18 PM
RudeboyOi RudeboyOi is offline
Senior Member
 
Join Date: Dec 2004
Posts: 494
Default Re: Comp Chips - How to Bet?

idk how you can compare those two
cause the money you find you can just pocket
the comp chip has no value unless wagered
why would you want to make two bets that are -EV
when you can just make one
youd be much better in the longrun
just wagering your comp chips on one bet
instead of trying to hedge them between two
Reply With Quote
  #19  
Old 11-23-2007, 12:20 AM
Poshua Poshua is offline
Senior Member
 
Join Date: Dec 2006
Location: New York, NY
Posts: 508
Default Re: Comp Chips - How to Bet?

The comp chip has no value unless wagered, just as the money has no value unless spent. The comp chip is equivalent to a gift certificate to a casino. Are gift certificates valueless?

As for the EV impact of hedging, OP's ask was about how to minimize risk when betting the comp chip. In the case where you have two comp chips of equal value, betting them on opposing even money bets (red and black, say) is the same from an EV perspective as putting them all on red or all on black. However, you have greater certainty of outcome by hedging.

In the case where you have only one comp chip, you do lose a little bit of EV by using Total Poker Noob's strategy-- mostly because it involves putting out $100 in cash as well as the $100 comp chip. So, you're taking house edge on $200 instead of $100. However, a player who cares about certainty of outcome may be willing to give up a bit of expected loss to gain certainty.
Reply With Quote
  #20  
Old 11-23-2007, 12:21 AM
Jimbo Jimbo is offline
Senior Member
 
Join Date: Sep 2002
Location: Planet Earth but relocating
Posts: 4,376
Default Re: Comp Chips - How to Bet?

[ QUOTE ]
If anyone attempts to join my table as I'm about to shoot, I'll point out to them just what I'm doing and kindly suggest that they might want to wait until my one shoot win or lose session is finished before they place bets. Although, this can often be akin to talking to a brick wall.


[/ QUOTE ]

Very funny, have you forgotton that craps is a random game? Why would anyone with half a brain care that you are both shooting and betting the don't? The odds aren't any different than if Santa was shooting the dice.

Just in case you wanted to refute by stating that you are some kind of world champion dice setter/shooter my response would be: Then why not use that bionic arm of yours and never throw a seven and bet the do pass line instead of the don't?


Jimbo
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 07:09 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.