Question of the Day - 16 August 2017

New Reader Poll: What betting strategy, if any, do you use when gambling

A few months ago, we ran a poll surveying the blackjack skills of participants and we thought it would be equally instructive to gauge the ways in which gamblers size their wagers. In other words, how do you bet your money at casino games, particularly 21?

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Previous QoD

What does the name Las Vegas mean, where did it come from, and by what other names has Las Vegas been known?

Tomorrow's QoD

What's the next big casino planned to open in Las Vegas?

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Comments

Leonard Accardi Aug-16-2017

I Play, I Don't Gamble

I play only craps, only on a table with a lot of players, and my only bet is the table minimum on the pass line.  I have action every roll, and since the house percentage is only 1.4%, the cost of playing is low.  For example, on a full and active table there are about forty decisions per hour. On a five dollar table, my total bets would be $5 × 40 = $200.  My expected loss is $200 x 1.4% or $2.80 per hour in the long run.  I don't consider this a gambling loss, I consider it the cost of playing and having fun.  Short term wins and losses are sometimes as much as $50 per hour, but my average cost per hour over every hundred hour period is always close to the expected value of $2.80 per hour, a figure that I am very comfortable with.

Sam Glantzow Aug-16-2017

"New York"

when playing blackjack i use the New York [or Manhatten] strategy: start with a 2-unit bet. if i win, drop to 1 unit [table minimum]. if i win that one, go back to 2 units. if i win THAT one, it depends on how the evening's going: could stay at 2, go up to 3, down to 1, etc. if i lose 5 2-unit hands in a row i find another table!