Learn to deal casino Craps, Blackjack, Baccarat and Carnival Games.
Everyone did a great job dealing at the Zurich Classic event at Generations Hall last night.
Watch Tai bust a move!
Zurich Slideshow
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Calculating the house edge or house advantage on most craps bets can be illustrated using cheques with the exception of the Pass Line/Come and Don’t Pass/Don’t Come as those calculations are more complex.
The house edge on a Place Bet 6/8 can be calculated as follows.
The 6/8 are bet in units of $6.00. With the true odds of 6:5 a $6.00 bet on the 6/8 should pay $7.20, but, it doesn’t. It actually pays $7.00. The sum of the bet, $6.00, plus what the bet should pay according to the true odds, $7.20, is $13.20. The sum of the $6.00 bet and the actual $7.00 payoff is $13.00. The difference between $13.20 and $13.00 is 20¢.
20¢ divided by $13.20 is 0.0151515 or 0.0152. When expressed as a percentage equals 1.52%. The house edge on a Place Bet 6/8 is 1.52%.
The house edge on a Place Bet 5/9 can be calculated as follows.
The 5/9 are bet in units of $5.00. With the true odds of 3:2 a $5.00 bet on the 5/9 should pay $7.50, but, it doesn’t. It actually pays $7.00. The sum of the bet, $5.00, plus what the bet should pay according to the true odds, $7.50, is $12.50. The sum of the $5.00 bet and the actual $7.00 payoff is $12.00. The difference between $12.50 and $12.00 is 50¢.
50¢ divided by $12.50 is 0.04. When expressed as a percentage equals 4%. The house edge on a Place Bet 5/9 is 4%.
The house edge on a Place Bet 4/10 can be calculated as follows.
The 4/10 are bet in units of $5.00. With the true odds of 2:1 a $5.00 bet on the 4/10 should pay $10.00, but, it doesn’t. It actually pays $9.00. The sum of the bet, $5.00, plus what the bet should pay according to the true odds, $10.00, is $15.00. The sum of the $5 bet and the actual $9.00 payoff is $14.00. The difference between $15.00 and $14.00 is $1.00.
$1.00 divided by $15.00 is 0.0666666 or 0.0667. When expressed as a percentage equals 6.67%. The house edge on a Place Bet 4/10 is 6.67%.
Now that we understand how to calculate the house edge or house advantage we can apply the same technique to the Big 6 & 8, the Field and all Prop bets.
Pictured below is the same photo from the "Why Place Bets Pay What They Pay" post which demonstrates visually why Place Bets what they pay and why the house edge is what it is.
The money on the line between the Field and Come represents the portion not paid on the bet. That amount divided by the sum of the bet and what the bet should pay according to the True Odds results in the house edge.
click on image to enlarge
Know thy game.
A dealer may not know the house advantage on bets and still be good enough to deal the game, but, a good dealer strives to be better than “good enough”. Knowing the house advantages is not necessary to physically deal a game, but, knowing the house edge is a part of your game knowledge.
A superior dealer knows their game.
IRS TAX TIP 2008-24
Did you get your W-2? These documents are essential to filling out most individual tax returns. You should receive a Form W-2, Wage and Tax Statement, from each of your employers each year. Employers have until January 31, 2008 to provide or send you a 2007 W-2 earnings statement either electronically or in paper form. You should allow two weeks to receive your W-2 from employers who send them by mail.
If you do not receive your Form W-2, contact your employer to inquire if and when the W-2 was mailed. If it was mailed, it may have been returned to your employer because of an incorrect or incomplete address. After contacting your employer, allow a reasonable amount of time for your employer to resend or to issue the W-2.
If you still do not receive your W-2 by February 15th, contact the IRS for assistance at 800-829-1040. When you call, have the following information:
An estimate of the wages you earned, the federal income tax withheld, and the period you worked for that employer. The estimate should be based on year-to-date information from your final pay stub or leave-and-earnings statement, if possible.
If you misplaced your W-2, contact your employer. Your employer can replace the lost form with a “reissued statement.” Be aware that your employer is allowed to charge you a fee for providing you with a new W-2.
You still must file your tax return on time even if you do not receive your Form W-2. If you do not receive the missing information in time to file, you may use Form 4852, Substitute for Form W-2, Wage and Tax Statement. Attach Form 4852 to the return, estimating income and withholding taxes as accurately as possible. There may be a delay in any refund due while the information is verified.
On occasion you may get back conflicting documents. You may receive a Form W-2 or W-2C (corrected form) after you filed your return using Form 4852, and the information differs from what you reported on your return. If this happens, you must amend your return by filing a Form 1040X, Amended U.S. Individual Income Tax Return.
Form 4852, Form 1040X, and instructions are available on the IRS Web site, IRS.gov or by calling 800-TAX-FORM (800-829-3676).
Remember that for the genuine IRS Web site be sure to use .gov. Don't be confused by internet sites that end in .com, .net, .org or other designations instead of .gov. The address of the official IRS governmental Web site is www.irs.gov.
Links:
Occasionally you may have a player walk up and toss you a purple and ask for $500 Inside. That is "no bet this roll."
If you have the time before the dice move you can ask how the player would like that set up, but, you should not assume anything.
Five hundred Inside is a shot waiting to happen. Although the non-shot-taker may take offense to being "no bet" on that roll it is good game protection and nothing less than proper procedure.
The honest player may claim, "there's only one way to set up that bet." Unfortunately, their honesty makes them naive. There are many ways to set up $500 Inside. The two best ways for a shot taker are pictured below along with the what most people mean by $500 Inside.
If you assume the player wants $150 each on the 6 & 8 and $100 each on the 5 & 9 the shot taker will wait for the roll and then say they didn't want what you set up.
If the 5 rolls the shot taker will claim what they really wanted was a $5 9, $30 each on the 6 & 8 and $435 on the 5. Of course. That way they make $609. If the 6 rolls the shot taker will claim they really wanted $10 each on the 5 & 9, a $30 8 and a $450 6. Then they make $525.
In either case the shot taker stands to at least double their money because the dealer opened themselves up to a shot by booking an improper bet.
A proper bet in a series of Place Bets, i.e. Across, Inside or Outside, are made in an equal number of units on every number, not an equal dollar amount nor a variety of dollar amounts which, individually, are proper bets. Equal units on every number and equal units only comprise a proper series of Place Bets.
The bet the non-shot-taker means by "$500 Inside" should be booked as, "$500 action Inside. One-fifty each on the 6 & 8, hundred each on the 5 & 9."
Pictured below is the reason for why Place Bets what Place Bets pay.
On the 4 & 10 a $5 bet should be paid $10 according to the True Odds of 2 to 1. But the 4 & 10 don't get paid 2 to 1 because the house needs to have an advantage on the bet in order to keep the lights on. So, the casino keeps $1. One dollar less than $10 to $5 is $9 to $5. Hence, 4 & 10 Place Bets are paid 9 to 5.
On the 5 & 9 a $5 bet should be paid $7.50 according to the True Odds of 3 to 2. But the 5 & 9 don't get paid 3 to 2 because the house needs to maintain an advantage. So, the casino keeps the 50¢. Fifty cents less than $7.50 to $5 is $7 to $5. Hence, 5 & 9 Place Bets are paid 7 to 5.
On the 6 & 8 a $6 bet should be paid $7.20 according to the True Odds of 6 to 5. But, again, the 6 & 8 don't get paid 6 to 5 because the house needs to have the advantage. So, the casino keeps the 20¢. Twenty cents less than $7.20 to $6 is $7 to $6. Hence, 6 & 8 Place Bets are paid 7 to 6.
For the upcoming event and for future reference, here is a map to Generations Hall at 310 Andrew Higgins Dr, New Orleans, LA.
The following picture compares minimum Place Bets to minimum Put Bets with maximum odds at various casinos with 5x odds, 10x odds and 20x odds.
The bets next to stick and next to base have a $15 minimum and 5x odds for a combined house edge of 0.326%.
The bets two from stick and two from base have a $5 minimum and 10x odds for a combined house edge of 0.184%.
The bets three from stick and three from base have a $5 minimum and 20x odds for a combined house edge of 0.099%.
Every student learning any game should make the investment in a set of cheques for practicing at home.
The TRIUMPH SPORTS TEXAS HOLD 'EM POKER SET at Academy Sports + Outdoors is highly recommended.
Find an Academy Sports + Outdoors near you.
Check out this guy's fingers!
Although chip tricks are cool, they are generally frowned upon when performed by dealers on a game.
The following picture is a combination of the Place Bet set up drill and the Pass Line Odds drill.
Both the Place Bets and Odds are in units of 1, 2, 3, 4, 5 & 10 red cheques. After completing the drills for each Point with all red bets and paying color-for-color the drills shall be repeated with green, black and purple cheques in the same number of units, 1, 2, 3, 4, 5 & 10.
