Treat casino chips as hard earned cash
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.
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