Gamblers

[ms_ann_thrope]

I never gamble with money I'm not afraid to lose, usually the money I've saved from bringing my lunch to work instead of buying it.

Ummmm...someone pays you to bring your own lunch? That's an unusual definition of saving.

 

[RjThoughts]

Ummmm...someone pays you to bring your own lunch? That's an unusual definition of saving.

Silly ninny.

 

[ms_ann_thrope]

Silly ninny.

You do realize that there is a net reduction of income regardless of how you spend your money.

Ok, I tried.

 

[RjThoughts]

You do realize that there is a net reduction of income regardless of how you spend your money.

Ok, I tried.

Over the year, I save money, even if I go spend $40-80 at the casino twice a year.

 

[Que]

I believe he is following the maxims of Ben Franklin voicing Poor Richard, "A penny saved is a penny earned."

One of my major pet peeves. If I go to extraordinary lengths to save a penny or two from extinction, it is extremely frustrating to have that squandered needlessly.

On the flip side there are others, stereotypically of the less frugal gender that will boast of "saving" on a purchase that, unlike lunch, did not have to be made at all.

The best thing about being single is how long a 36 rolls will last and watching quarters multiply on the dresser-top.

Perhaps RJ is wrong on a t-bar accounting basis, but that's the kind of wrong I want to be.

Feed the Pig~

 

[ms_ann_thrope]

Over the year, I save money, even if I go spend $40-80 at the casino twice a year.

You spend less money.

 

[RjThoughts]

You spend less money.

And it's money my wife does not waste on shoes!

 

[Que]

And it's money my wife does not waste on shoes!

Well HOLD up there!

Are we talking "sensible" shoes, or stilettos?

 

[RjThoughts]

Well HOLD up there!

Are we talking "sensible" shoes, or stilettos?

It doesn't matter. Flats, sandals, heels, boots...she is on a first name basis with several clerks at Aldo and Nine West.

 

[ms_ann_thrope]

And it's money my wife does not waste on shoes!

Following that line of reasoning, you should eat out more.

 

[Que]

It doesn't matter. Flats, sandals, heels, boots...she is on a first name basis with several clerks at Aldo and Nine West.

Agreed then, 75% of those choices is a colossal waste. The way you tell a worthwhile shoe investment is if they are a favorite pair, and they spend more time pointed at the ceiling then scuffed in the driveway.

 

[RjThoughts]

Following that line of reasoning, you should eat out more.

I spend less gambling cumulative than she does whenever she steps into a shoe boutique.

 

[Colonel Hogan]

As a math nerd type, I would of course avoid anything obviously stupid. I figure Blackjack is close enough to even odds to make it a reasonable entertainment. I confess I don't know enough about craps to play, much less what the odds are for any given bet. a pair of dice yields 36 possible combinations, seven being the most common sum, but beyond that I hadn't really considered it from a strategy standpoint.

I should look at it. If others are betting poorly, does that improve your chances...is it winner take all?

I'm slowly adding to my list of vices after a puritanical first half of life.

The other players' bets have no effect on yours whatsoever. You lose or win your own bets based on what shows up on each roll of the dice. In fact, it often happens that there are winners and losers on every throw of the dice. The reason craps tables often get loud with everyone slapping each other on the back is that most knowledgeable players make the same bet at the start of the game -- specifically a "pass line" bet with a "free odds" bet "behind the line."

If the "shooter" (player rolling the dice) establishes a "point" number (4, 5, 6, 8, 9, or 10) and then rolls that number again before rolling a seven, he is said to have "made the point" and all pass line bets are paid off at even money and the free odds bets behind the line are paid off based on the true odds which reflect the difficulty of rolling that point before rolling a seven (6 to 5 when the point is 6 or 8; 3 to 2 when point is 5 or 9; 2 to 1 if the point was 4 or 10). Rolling a seven before the point would lose all the pass line and odds bets to the house.

If a shooter makes his point, he keeps rolling the dice for the next round. A shooter who makes four or five points in a row very quickly becomes the best friend of everybody at the table.

Craps sounds far more complicated than it really is. It really is all about money management and staying away from those bets where the house has a large mathematical advantage. These include all the center area bets (which the stick dealer is always hawking and which invariably get a lot of action from people who surely know better but just can't help themselves), "Field" bets (2,3,4,9,10,11,12), and "Big 6 and 8." All of these three bets, even when they win, pay far less than the true odds (that which they SHOULD pay based on the difficulty of rolling that number). Never, EVER, make these bets. Ignore how many "hard ways" or "E & C" bets the fat guy with the diamond pinky ring is betting. He clearly made his fortune some way other than gambling.

That leaves only the Pass Line and Come bets. Come bets win, lose and are paid (including free odds) exactly the same as Pass Line bets, the only difference being that Come bets are made at any time after a point has been established.

The basic Pass Line and Come bet yields the lowest possible odds advantage to the house -- only 1.41%. The free odds bet behind the line or on top of your Come bet is the best bet of all. It's called "free" because the house pays it off at true odds and therefore has NO STATISTICAL ADVANTAGE on that bet whatsoever.

You cannot repeat that last sentence in your mind often enough. In fact, if you knew nothing about the game of craps and simply made a single minimum Pass Line bet with MAXIMUM allowable odds behind the line after the "point" is established (bring plenty of money), you would be exhibiting far wiser game strategy than probably three quarters of the people at the table.

Google "craps" and "craps odds," and I guarantee you, you will be an expert on the game in a matter of a few hours.

 

[Que]

The other players' bets have no effect on yours whatsoever. You lose or win your own bets based on what shows up on each roll of the dice. In fact, it often happens that there are winners and losers on every throw of the dice. The reason craps tables often get loud with everyone slapping each other on the back is that most knowledgeable players make the same bet at the start of the game -- specifically a "pass line" bet with a "free odds" bet "behind the line."

If the "shooter" (player rolling the dice) establishes a "point" number (4, 5, 6, 8, 9, or 10) and then rolls that number again before rolling a seven, he is said to have "made the point" and all pass line bets are paid off at even money and the free odds bets behind the line are paid off based on the true odds which reflect the difficulty of rolling that point before rolling a seven (6 to 5 when the point is 6 or 8; 3 to 2 when point is 5 or 9; 2 to 1 if the point was 4 or 10). Rolling a seven before the point would lose all the pass line and odds bets to the house.

If a shooter makes his point, he keeps rolling the dice for the next round. A shooter who makes four or five points in a row very quickly becomes the best friend of everybody at the table.

Craps sounds far more complicated than it really is. It really is all about money management and staying away from those bets where the house has a large mathematical advantage. These include all the center area bets (which the stick dealer is always hawking and which invariably get a lot of action from people who surely know better but just can't help themselves), "Field" bets (2,3,4,9,10,11,12), and "Big 6 and 8." All of these three bets, even when they win, pay far less than the true odds (that which they SHOULD pay based on the difficulty of rolling that number). Never, EVER, make these bets. Ignore how many "hard ways" or "E & C" bets the fat guy with the diamond pinky ring is betting. He clearly made his fortune some way other than gambling.

That leaves only the Pass Line and Come bets. Come bets win, lose and are paid (including free odds) exactly the same as Pass Line bets, the only difference being that Come bets are made at any time after a point has been established.

The basic Pass Line and Come bet yields the lowest possible odds advantage to the house -- only 1.41%. The free odds bet behind the line or on top of your Come bet is the best bet of all. It's called "free" because the house pays it off at true odds and therefore has NO STATISTICAL ADVANTAGE on that bet whatsoever.

You cannot repeat that last sentence in your mind often enough. In fact, if you knew nothing about the game of craps and simply made a single minimum Pass Line bet with MAXIMUM allowable odds behind the line after the "point" is established (bring plenty of money), you would be exhibiting far wiser game strategy than probably three quarters of the people at the table.

Google "craps" and "craps odds," and I guarantee you, you will be an expert on the game in a matter of a few hours.

Wow, thanks. Far more inclusive tutorial than I ever would have expected. I now have "Play craps at least once" on my bucket list. Not necessary because I think I shall enrich myself that way, but I want to put the above to use.

I'm sure there is an online version I can use for practice.

 

[smoothg103rd]

Celo is better than craps