Buy Bets
 

You'll note that some of the edges on the above bets are fairly steep. I consider any bet over 1.5 percent to be dangerous, as explained in page 14 of this website.

In order to encourage place betting, the casinos allow you to buy the numbers by paying a 5 percent commission, usually up-front, when you place the bet. You put your money down and say, for example, "Buy the 4 for $20." You give the dealer $20 and $1 commission (5 percent of $20.) Now, the casino will pay off the bet at the true odds of two to one.

If you are going to be a place bettor, buying does help reduce the house edge on some place bets. However, some place bets are made worse by buying. The following list illustrates what buying a number for a 5 percent up-front commission does to the casino edge when place betting. The italicized lines show which bets are improved by buying. When you buy a don't place number it is called laying the number.

Place to Win
Casino Place Edge
Casino Buy Edge
4 and 10
6.6717-o
4.76%
5 and 9
4.00%
4.76%
6 and 8
1.52%
4.76%
Place to Lose
4 and 10
3.03%
2.44%
5 and 9
2.50%
3.23%
6 and 8
1.83%
4.00%
 
To Your Credit
 
If you play with cheap plastic universally available chips, it's too easy for someone to buy matching chips before arriving and slip some into the game. Because the banker has promised to redeem all chips for cash at settle-up time, he can get stuck paying out more than he took in.

Sometimes a particular player might not pay up at the end of the session, promising to do so at the start of the next session. There usually is an understanding that the player will not be allowed to participate in the next session until he makes good on his debts of the previous session.

In serious games, strictly cash is usually the rule, although a well-known player's check may be accepted, as well as any checks he guarantees. In some games, the players may all know each other well enough to accept each other's checks. Checks become more desirable if the stakes are high enough for the players to fear a robbery (called a bijacking).
 
eXTReMe Tracker copyrights © 2005 all rights reserved. Online Poker Guru