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Ask The Wizard #202
What authority do casinos have to refuse the redemption of their own chips? A friend of mine asked me to exchange some high-value chips, but the casino declined because they claimed I had never played there before. When I raised my concerns, they told me they would cash them only if I could show that a genuine player had given them to me. Is this really within their rights?
Indeed, they have that authority, and it is part of their standard operating procedures. According to the Nevada gaming regulations 12.060.4:
A licensed establishment is prohibited from redeeming its chips or tokens if they are presented by someone whom the establishment knows, or reasonably should know, is not a customer of their gaming facility.
Legally speaking, regardless of how chips are obtained, they belong to the casino (see Regulation 12.060.1), although they are required to be exchanged promptly from verified patrons (Reg. 12.060.2c).
I would recommend that you refrain from cashing in large quantities of chips at a casino where you lack a betting history. The more luxurious the casino is, the more scrutiny you can expect. Based on my experience, I would estimate that at most properties along the Strip, questioning may begin at around $3,000.
If you find yourself stuck with high-value chips at a place where you've never played, I advise you to engage in some gameplay. Instead of heading straight to the cashier, use the chips at the tables first, play for a while based on how much you've bought in for, then cash out any remaining amount from that session.
How does the 'anything but seven' strategy in craps influence the house edge? This strategy involves betting on the field and placing bets on the 5, 6, and 8 after a point has been established, except when the point is already one of these numbers. Additionally, what is the house edge associated with the 'anything but the point' strategy, where players place similar bets after making a don’t pass wager?
Based on my calculations, employing the 'anything but the point' strategy results in an expected loss of 0.11988 units for every resolved pass bet. The average stake, calculated from only the resolved bets, is 5.09865 units. Therefore, the house edge can be determined as the ratio of expected loss to total resolved bets, coming in at 2.351%. For the 'anything but the point' strategy, the house edge is calculated as 9.19394/5.09865 = 2.341%, which includes the push on a 12 as a resolved bet.
What are the chances of an NFL game finishing with a tie?
During the seasons from 1983 to 2007, there were a total of 10 ties across 5,901 regular-season games. It’s important to note that postseason rules do not allow games to end in a tie. Hence, the historical probability of a tie is approximately 0.17%, or roughly 1 in 590.
What would the house advantage be on a pass and don’t pass wager once a point has been established?
After establishing a point of 4 or 10 on a pass bet, the house edge escalates to 33.33%. For a point of 5 or 9, it drops to 20%, while for points of 6 or 8, the house edge is 9.09%. Players enjoy the same house advantage on don’t pass bets once a point is in play.
What software options would you suggest for someone looking to practice Blackjack and Craps on a computer, aiming for a realistic gaming experience, but unable to play online (like at a work computer)?
For casual play, it appears that most retailers offering computer games have some casino-themed titles available, often at discounted prices. I've tested a few and find them lacking in quality. Online casinos generally provide a superior experience. Unfortunately, I cannot endorse any specific software.
What are the odds of drawing three cards from a deck with exactly one of them being a spade?
The likelihood that the first card drawn will be a spade while the next two are not is calculated as (13/52) x (39/51) x (38/50) = 14.53%. Since the spade can appear in any of the three drawn cards, you must multiply this by 3, giving a final probability of 3 x 14.53% = 43.59%. For those who prefer using combinatorial math, the outcome is 13 x combin(39,2)/. combin (52,3) = 9,633/22,100 = 43.59%.
On your website, you illustrate the variation in house advantage for Three Card Poker with the Mini-Royal payout on the Pair Plus bet. However, in a local casino in Arizona, the Mini-Royal applies to the Ante Bonus instead of the Pair Plus. The Ante Bonus offers payouts of 6 to 1 for three of a kind, 8 to 1 for a straight flush, and 50 to 1 for a Mini-Royal. What would be the adjusted house advantage for the Ante and Play with this payout structure? Thank you,
I've never come across that scenario before; thank you for sharing. With those ante bonuses, the house edge for the ante bet is pegged at 4.75%.
I think I noticed an error in your Splitting strategy while backing another player for blackjack. The guideline suggests you only play a single hand if the person you're backing splits tens against an eight (referred to as the selfish strategy). However, a hard 10 (without doubling) versus an 8 still retains a positive expected value.
This is due to my assumption that the player in front will keep resplitting if possible. This diminishes the value of a single ten, as I believe the front player is likely to continue making the same mistake repeatedly. I've added this condition in the updated document.