best news this month was from Las Vegas; it was Westward
Ho's coupon website "for invited guests only."
At the time, this was the most valuable coupon website
I had ever seen. I attended the "Howaiian Luau,"
and was told that the "Grubstake jamboree"
and two other annual events had the same coupon website.
One coupon in the website entitled you to buy 25 dollar
coins for $20, a $5 value.
A roulette coupon paid 40 to 1 when you hit 0 or 00.
You kept the coupon until your number hit. Your expectation
was to make 38 bets to use your coupon. If you bet
the maximum $5 per roll, your expectation was to invest
$190 to win $200, making this coupon worth $10.
That is $15 of expected value so far, and we have
not even gotten to the really valuable coupons. By
the time we are done with them, you probably will
have forgotten about these first two.
Two of the coupons were for craps. One al-lowed you
to push with a roll of 6-6 with a pass-line bet; pass-line
bets normally lose to 6-6 on the come-out roll. You
kept the coupon until 6-6 was rolled. On average it
takes 36 come-out rolls to roll 6-6 once, and the
casino's normal edge over 36 come-out rolls is approximately
half a bet. Another way of saying the same thing is
instead of the casino having 1.4 % edge over you,
you had 1.4 % edge over the casino for an expected
36 bets. Thus this coupon had an expected value of
half a bet. If you bet the maxi-mum $100 per come-out
roll, your expected win was $50.
are not social service organizations; they have no
interest in distributing their wealth to their customers.
They offer games that allow the average customer to
win occasionally, and the expert customer to win more
frequently, solely because those wins are the carrots
that lure losing players back time after time.
are truly expert in video poker, blackjack, or sports
betting, though, you will quickly find that casinos
will either cut you off entirely (most people have
heard stories of blackjack players getting barred),
or reduce the amount you are allowed to bet (the most
common approach taken with winning sports bettors).