Craps bankroll strategy
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There are even some non-monetary benefits to playing real money craps as opposed to the free craps games. Most casinos will allow a roll that does not hit the opposite wall as long as the dice are thrown past the middle of the table. The question in this thread was posed for a 5 dollar minimum table with 2x odds. After three hits, take it down and leave the flat bets for the dealers. FoolsGold is correct when he says short term variance and pure luck can result in a win.
Challenge: Low variance craps strategy
Craps is a dice game in which the players make wagers on the outcome of the roll, or a series of rolls, of a pair of dice.
Players may wager money against each other playing "street craps" or a bank playing " casino craps", also known as "table craps", or often just "craps". Because it requires little equipment, "street craps" can be played in informal settings. While shooting craps, players may use slang terminology to place bets and actions. Craps developed in the United States from a simplification of the western European game of hazard. The origins of hazard are obscure and may date to the Crusades.
Hazard was brought from London to New Orleans about by the returning Bernard Xavier Philippe de Marigny de Mandeville , the young gambler and scion of a family of wealthy colonial Louisiana landowners.
Both hazard and its new offshoot were unfamiliar and rejected by Americans of his social class, leading de Marigny to introduce his novelty to the local underclass. Fieldhands taught their friends, and deckhands carried the new game up the Mississippi River. Celebrating the popular success of his novelty, de Marigny gave the name craps to a street in his New Orleans real estate development.
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This is the first of a series of challenge posts. I intend the problems to be do-able rather than mind boggling: Think of it as Web 2. Or think of it as Yahoo! Answers , blog edition. What can you do with these yootles? Well, to make a long story short, you can spend them with me, people who trust me, people who trust people who trust me, etc.
So, on with the challenge! I just returned from a pit stop in Las Vegas, so this one is weighing on my mind. So on a fixed budget, craps can be exceedingly dangerous. So that this challenge is not vague and open ended, let me boil this overall goal down into something fairly specific:. I prefer if you ignore the center bets in your analysis. Another way to motivate this is as follows: I have a small fixed budget but want to hang around a high-limit table for as long as possible, because I get a better atmosphere, more drinks, and a glimpse of life as a high roller.
As an example, here is a strategy that appears to have very low variance: If the shooter rolls 2, 3, 7, or 11 you break even. You have absolutely no possibility of winning: One thing you might add to this strategy to satisfy condition 1 is to take or give odds whenever the shooter establishes a point.
Another bonus point question: In terms of variance, is it better to place a single pass line bet with large odds, or is it better to place a number of come bets all with smaller odds? To submit your answer to this challenge, post a comment with a link to your solution. If you can dig up the answer somewhere on the web, more power to you. If you can prove something analytically, I bow to you.
Otherwise, I expect this to require some simple Monte Carlo simulation. Followed of course by some Monte Carlo verification. The winner is … Fools Gold! Now ofcourse this can make the experience short and sweet if you lose that first bet or the first few bets.
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