Gambling is fun, but it costs money. So, just like anything else you do for entertainment, it’s prudent to seek out the lowest price to participate. A big part of that is being able to gamble for low stakes. Being able to play any table game for $1 is as good as it gets in that regard, and you can do it at a Riviera blackjack table daily, any time day or night – something you can’t do anywhere else in Las Vegas. That’s where the value comes in.
Addressing your direct question about the rules and how they affect the value of this offer, here’s the breakdown. The games are 6-deckers dealt from a continuous-shuffling machine. The dealer hits soft 17, doubling down after splitting is allowed, and blackjack pays 6-5. That works out to about a 2% house advantage against a basic-strategy player. It gets worse. Bets of less than $5 are paid only even money on naturals, which works out to a 2.9% casino advantage on wagers from $1 to $4.
Given that the house edge for betting just $1 at the Riv is about six times worse than the .5% or so you face in many Las Vegas games, your concern appears valid. But this is where the dollar minimum comes into play.
Assuming you play your hands perfectly, you’re giving up .029 x $1 per hand, which is 2.9¢. Since these tables are full, they play slow and you figure to be "paying" that 2.9¢ on only about 40 hands per hour, making the theoretical cost to play a paltry $1.16 per hour. Assuming you don’t know basic, you might be playing at an additional 2% below optimal. In that case it costs you about .05 x $1 x 40, or $2 per hour. There aren’t many forms of paid entertainment you’ll find for $1-$2 per hour, especially being served free drinks while you do it.
Keep in mind that wagering $2 doubles your expected loss, and betting $3 or $4 multiplies that correspondingly. Mathematically, you’re actually better off betting $5 (to get the 6-5 back on naturals) than $3 or $4, though it heightens your risk.
The old Sahara dealt $1 blackjack with similar conditions for a while and Binion’s is currently dealing $1 blackjack (with good rules that have only a .43% casino edge against basic) on Thursdays from noon to midnight. Every time we’ve looked in on one of these games, the tables have been full of players having a blast. The Riviera may not be dealing the best return in town, but if you’re there to have fun, go ahead and fade that 3%.
