Barnum Bets for those born every minute
Dear Mark,
I was told that the tie bet on a baccarat table was the worst bet in
the casino. Someone else told me the blackjack insurance bet was. I’ve
been a fan of both for years. Any chance you list some of the sucker
bets the casino offers so I can avoid them in the future? Charles J.
The dictionary describes "worst" as the superlative of bad, and believe
me, Charles, there are plenty of bad bets the casino offers. Casino
owners figure that so long as some die-hard gamblers insist on making
stupid wagers; why not offer a smorgasbord of them to the die-soon
players.
So, Charles, for you, and others who have any interest in beating the
casino at their own game, PLUCK , EXILE AND BANISH these WORST wagers
from your playing repertoire.
The Insurance Bet at Blackjack: Unless you are an experienced card
counter, you should never make this wager. Depending upon the table
rules, the casino edge runs from 5% to 8%. Worse yet, insuring a hand
composed of two face cards on a single-deck game gives the casino a
14.3% edge.
The Tie bet at Casino War: A Monster Loser. This bet has a House
Advantage of 18.65%.
The Tie Bet in Baccarat: Another tie wager that carries a hefty house
advantage. It’s 14.1%.
The Side bet in Caribbean Stud Poker: Don't let that progressive meter
jackpot suck you into a dollar wager, with the hope of being dealt a
"natural" royal flush. The true odds are almost 650,000 to 1. Even
though a $100,000 plus jackpot looks tempting -- as it was designed to
be -- unless you see a progressive figure closing in on those high
odds, it is a no-value bet. Avoid also the Let-It-Ride Side Bets: They
too carry a double-digit casino edge.
Proposition Bets on a crap game: The stickman will entice you to make a
multitude of lousy wagers, such as, one-number bets like the betting
the 7. This wager alone has a casino advantage of over 16% against you.
Here is list of sucker bets found on a crap game along with their
house edge.
Big 6 & 8 (9.1%)
Hardway 6 or 8 (9.1%)
Hardway 4 or 10 (11.1%)
Any craps (11.1%)
3 or 11 proposition (11.1%)
2 or 12 proposition (13.9%)
Any 7 (16.1%)
Most Sic-Bo Bets: Place a bet on anything except Big or Small, and
you're looking at a house edge of from 7.87% to 18.52%.
The Big Six: Any bet on this game has a minimum house edge of 15%. I'd
run from this game.
Keno: This game of luck has an extremely high house advantage, at the
bare minimum of 25%.
The 5-Number (0, 00, 1, 2, 3) wager in roulette: This bet has a casino
advantage of 7.89%. We're not through. The house edge on a Double Zero
roulette table is 5.26% against you no matter how you bet it. If
roulette just happens to be your favorite game, at least look for the
single zero wheel where the house edge is down to the 2% range.
Indeed, there are more, like one-armed bandits in general, or haphazard
and hunch play at blackjack or video poker, but the gist of it,
Charles, is that the casino figures so long as you are giving your
hard-earned money away, you might as well be giving it to them with the
wagers listed above. But if you choose your bets wisely, you can
drastically affect the outcome of your casino visit in your favor, not
theirs. Not a bad idea.
Gambling quote of the week: “The more I reflect upon the great number
of events, past or present, the more I recognize the effect of chance
in all earthly things.” TACITUS, Germanicus (A.D. 99)
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