I recently bought a condo for the summers in the Reno, Nevada area. I can no longer tolerate the humidity of the South Florida summers. For those of you who don’t know that Reno is nothing like Las Vegas, found in a bowl in the middle of the desert. Reno is in the high desert about 5,000 feet above sea level.
I’ve been traveling to Nevada for years and I can’t help but notice a very strange decline in the sophistication of the average casino player. I can recall a time when table games, roulette, blackjack, and craps tables made 80-90% of a casino’s revenue and slot machines made the other 10-20%. Today the whole process has been reversed. Slots are making 80-90% of the casino’s revenue and the tables are winning what’s left.
The implications of this transformation are huge if you understand the odds of casino games. Every casino table game has predictable odds that are set by law and custom. In short, it is possible to know the correct odds for each game at a casino table. The correct บาคาร่า สูตร odds for a slot machine are only known to the casino management and can be changed at will. There is only one restriction. Under state law, the house edge in Nevada casinos cannot exceed 25%. In practice, most casinos establish the house edge in adolescence, the typical being 16% -18%.
Contrast this horrible house edge with the house edge at the casino tables.
In blackjack, the typical player will give the house an advantage of between 5% and 10%. A true crackerjack card counter in a one-deck game, which is hard to find today, could have a 2% to 3% advantage against the house. He tries to achieve it in the real world. As soon as the casino sees that he is winning, they will escort him out of the casino. In a multi-deck game, which is the norm, our card counter crackerjack is probably playing dead even with the house.
For almost all bets on the roulette wheel, the house edge is a reasonable 5.26%.
In the old days, when casino players really knew what they were doing, the undisputed king of casino tables was craps tables. This is where the term high roller came from. If you knew what you were, doing this is where you hung out. A better crafty can reduce the house edge to a minimum of 1.41% and below 1%, depending on the house’s odds policy.
Since I was now spending some of my summers in Reno, I decided that the smart money move was to sponsor so-called local casinos that cater to the local population rather than resort casinos on the Strip. The theory here is that the crafty locals were getting superior reward cards and better treatment than the stupid tourists who frequented the strip.