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Posts Tagged ‘Betting’
Saturday, October 25th, 2008
When we last left off, I had just started talking about the Banker in Pai Gow, which you can opt to play if you desire. Today, I’ll go more in detail about this fascinating part of the game.
All players in Pai Gow are betting against the bank. This isn’t to be confused with the dealer, because in Pai Gow, the bank could be a player. When it’s a player’s turn to be the bank, that player can accept or decline. Should the player decline, the house will always accept in place of the player.
To beat the Banker, both of your hands must beat the Banker’s hands. Any “copies,” which is a fancy name for hand ties, goes to the Banker. Some players work to just win one of the two hands, because that’s a push and no money exchanges hands.
An example of a “copy” would be your 2nd highest hand and the bank’s 2nd highest hand consisting of a Jack-Queen. The bank wins all copies.
Depending on the casino, the option to be the banker could rotate clockwise or counter-clockwise. If the table is full, you’ll get the opportunity to be the banker once per seven hands, because the dealer is included in that rotation. The casino earns a 5% commission from all winning hands.
The option to be the banker goes position to position. If the current offering position is vacant, the house gets to be the bank.
In order for you to be the bank, you’ll need enough money to cover all the bets on the table. If you really want to bank, but can’t afford it, the casino may offer to co-bank with you. Ask your dealer if this is an option. However, be advised that when you co-bank, you must set your hand in accordance with house rules.
Also, when you bank, the dealer will bet too. Don’t worry; the dealer isn’t going to dump all the chips of the casino on the table. The dealer’s bet will be equal to your last wager. If the amount is more than you’d like to bank against, see if the house will reduce it to the table minimum. It is possible.
Keep in mind that depending on the software, these little nuances can be lost when playing Pai Gow online. Also, banking may have less significance, because you don’t have any other players at the table.
Once the hand-when you are the banker-is over, the losers are taken and the winners paid. The house takes a 5% vig out of your net winnings. For instance, let’s say you paid out $200, but took in $500; your net winnings would be $300. The 5% vig that you’ll pay would be $15.
Being the banker is something you want to do as often as possible. In the long run, it’s the moneymaker. Again, another reason why you want other people at the table if you’re going to play Pai Gow online.
In the next part of our series, we’ll talk about setting your hand in Pai Gow.
Tags: Bet, Bets, Betting, Chips, Game, Hand Ties, Pai Gow, Two Hands, Wager Posted in Card Games, Poker
Thursday, October 9th, 2008
In my last roulette vocabulary overview I covered the types and names of the bets; in this my second and final one I want to go over some of the most commonly used and heard terms that aren’t specifically bet names. Hope it helps!
A Cheva: This comes from the French, reflecting the origins of the game, and means a ’split bet’.
Action: This refers to the specific amount of money bet during a particular time period.
American Wheel: The reason that there is a differentiation between an American Wheel and a European Wheel is that the American wheel features the 00 position, whereas the European wheel does not.
Backtrack: The outer part of the wheel which the ball spins around that doesn’t move.
Bankroll: This is the whole amount of money that a player has to play with.
Bet on the Layout: This refers to a bet laid on the numbered part of the table; this is the same as an ‘inside bet’.
Carr’: Again, this comes from the French and means a corner bet.
Cheval: a split bet
Colonne: More French, this time referring to the betting on a column.
Croupier: The guy who runs the table.
En Prison: This is a rule that is only implemented in some casinos. It relates to even money bets, e.g. red/black, odd/even; if you make an even money bet and the wheel comes down on 0 or 00, if the En Prison rule is being implemented you may either retrieve half of your bet or you may leave it for the next spin. Should you leave it and the following spin falls on 0 or 00 it is lost. If the En Prison rule is not being used, the original bet is simply lost.
French Wheel: Same as a European wheel; differs from the American wheel because it doesn’t feature the 00 pocket.
Even Money: This is a way of referring to a 1:1 bet.
Inside Bet: This refers to any bet made on the ‘inside’ part of the table, in other words, single number bets, split bets, street bets, and corner bets.
La Partage: Exactly like the En Prison rule except that the option is only to retrieve half of the value for the bet; you may not leave it for the next spin.
Outside Bet: This refers to any bet made on the ‘outside’ part of the table, e.g. red or black, odd or even, high or low; it also includes dozen bets and column bets.
These are really just the basics of Roulette vocabulary, I hope that they provide a useful starting point, and once these have become familiar to you, you will be able to learn the more complicated concepts of roulette. Good Luck.
Tags: American Wheel, Amount Of Money, Backtrack, Bet, Betting, Casinos, Croupier, European Wheel, Game, Money Bets, Roulette, Wheel Posted in Roulette
Thursday, September 18th, 2008
All casino games need a strategy which will shave the house edge and give the players a better chance of winning. However, not just any old strategy will do. Firstly, it needs to make sense for it to work. Secondly, it needs to suit the playing style of the user. And thirdly, it needs to reap financial returns. With this in mind, just how successful is the Martingale system?
For Martingale newbies this system is well known system both online and offline. It’s been gracing the felts at major casinos worldwide, and some players swear by it where as others chastise its unreliability. The system is based on the money that is bet and the possibility of winning back losses by upping stakes.
How it works is as follows: you select a table with the minimum stake that suits your pocket. You play your hand, betting the minimum stake only. If your hand wins then you bet the same amount again. If you lose you double the stake. This continues until you hit a win. Simple hey?
Now let’s look at the realities. The law of averages says that there in any gambling scenario involving two people (the player and the dealer), there is a 50/50 chance of winning. But the law of the casino knows better; the house always has the advantage. Therefore the house will win more hands than the player in an average scenario. This suggests the player will inevitably lose in the end.
Yet the doubling of the stake each time means that the returns are doubled also. The entire strategy is based upon this fact. Therefore, the doubling continues until a win is hit. When this happens, all the previous losses will be recuperated. The stake then returns to the original low amount and the player has a bigger bankroll. The player is ahead. Sounds like genius, correct?
Well, almost; spot the deliberate mistake yet? What the Martingale system does not account for is a complete loss of funds. The system requires a player to have a sturdy bankroll for it to work. Doubling after losses may make sense, but it is not necessarily as viable an option as you would expect. What happens if the player runs out of money before a win is hit? There will have been minimal time at the tables and you are out of the game.
The Martingale system has proved successful for many a player, but these players have a big balance initially to be able to make it work. The alternative for players with a shorter stack is to play at micro tables online. The downfall of this is that it is not going to win you big bucks…and assuming you’re in it for the money.
Tags: Bet, Betting, Casino Games, Casinos, Law Of Averages, Martingale System, Minimum Stake, Money Posted in Roulette, Systems
Friday, August 29th, 2008
Roulette is the exciting game of chance that has been the setting of countless tense movie scenes as suave men and sexy women make or lose a fortune at the spin of a wheel. While there is no way to gain an advantage or even alter the odds a the roulette table if you place your bets with a strategy that takes statistics into consideration you will get the most out of your time at the table.
The trick to betting in roulette is to understand how much each bet is worth if you win, but at the same time being able to continue betting if you lose. There is no point in putting everything on one number because unless you are very lucky you will be out of pocket on one spin of the wheel.
The simplest bets to place are the outside bets. These are the bets on either red or black, odds or even, high(1-18) or low (19-36). These bets pay even money and have the advantage that you can stretch your bankroll for quite a while by placing minimum bets. One method or betting on the outside blocks is to use the Martingale method. This method works by placing a bet on one of the outside bets. If you lose, you double up and place the same bet again and continue doubling until you win. When you eventually win you will get all of your previous bets back plus one bet. However, there is a catch. Most tables have a maximum bet and if you lose too many times in a row your doubled up bet will pass the maximum. Although this method doesn’t ‘beat the system’ it is a good way of staying in the game for a while and if you do have luck you will make some winnings. You can also play two sets of Martingale bets in parallel, for instance one on red or black and one on odds or even.
Group bets cover the numbers from 1-12, 13-24, or 25-36. Similarly, column bets cover all the numbers in one of the three columns that go the length of the table. Both these kind of bets pay 2:1. You can use the Martingale method on these bets as well. Although your chances of winning are less you are making a corresponding increase in your winnings.
Another fun betting method is to just place one bet on the same number for each spin of the wheel. If your number comes up before you have placed 36 bets then you will make a profit.
Famous physicist Albert Einstein said that the only way to win money at roulette is by stealing it when the croupier isn’t looking. Nonetheless, understanding the betting system will help you put your cash in the right place at the right time, and have a lot of fun along the way.
Tags: Bet, Betting, Fortune, Game Of Chance, Martingale, Minimum Bets, Money, Odds, Roulette Strategy, Roulette Table, Spin Of The Wheel, Wheel Posted in Roulette, Strategies
Wednesday, August 20th, 2008
Baccarat is one of those casino games that’s incredibly easy to learn, good on the bankroll, but played by few. Why is this? Did you know that betting on the Banker in Baccarat is the best bet you could make in the casino? Probably not. Most people don’t and perhaps that’s why most people don’t play Baccarat. It’s foreign to them.
Here’s how simple Baccarat is. Each hand there’s three possible outcomes.
1. The Banker Wins.
2. The Player Wins.
3. Tie
As a player, you bet either Banker or Player. That’s it. You don’t have to know anything else to win and have fun playing Baccarat. Of course, it will be good if you understand the game more. As I mentioned earlier, betting on the Banker is the best bet in the casino. The house advantage is just 1.06% and that’s absolutely amazing.
Quick Layout Guide
The layout is pretty darn simple. You have a space for the Banker’s cards, a place for the Player’s cards, bank commission, your betting area and that’s it.
When the hand is about to start, you make a bet on either the Banker or Player and the Tie if you wish.
Payout
In Baccarat, winning bets on the Banker or the Player are paid even money, so a $10 wager is paid $10. And the ties are paid 8 to 1, so a $10 wager is paid $80.
One important note is the vig. All wins on the Banker, since that hand has a slight edge, is taxed a vig of 5%. If you win $5, you’d pay 25 cents as a vig.
Action
Keeping it simple, here’s how it goes. First, you and all other players make their wagers. You then sit back as the dealer does all the card work.
The Player and Banker hands each receive two cards. The Player is the first to act, which is why the Banker has a slight edge. If the Player is going to act, that hand is given one card. In Baccarat, each hand can have a maximum of three cards. Also, each decision is based on defined rules.
Next, the Banker takes a turn. Depending on what the Player has, the Banker will either stand or receive a card. Finally, all losing bets are collected and winning bets are paid.
Tracking the Game
If you’re playing in the real world, most tables provide tracking paper and writing instruments. Online Baccarat may have this built into the software. It’s a good idea to track hands, so you can pick up on trends.
Baccarat is one game where I’ll actually follow trends and then bet against them. Either way you play, Baccarat is a fun game with a nice, low house advantage. Give it a try!
Tags: Best Bet, Bets, Betting, Cards, Casino Games, Game, Money, Play Baccarat, Playing Baccarat, Ties, Vig, Wager, Wagers Posted in Baccarat, Card Games
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