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Table Games Craps Question 1 - Buying the 4 or 10: shouldn't the Buy bet always be used?

Discussion in 'Table Games' started by larryg, Apr 9, 2013.

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  1. larryg

    larryg Low-Roller

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    WARNING: this question goes into nerd-like detail, so continue only if you dare!

    Many craps players know that buying the 4 (or 10) is better than placing the 4. However, the general wisdom seems to be that you should only start using the buy bet when you bet $20 or more; otherwise, the 5% commission would round up, wasting money. Below $20, people place the 4. However, if my logic is correct, the buy bet is better than the place bet for any amount more than $5.

    The house edge for placing the 4 is 6.67%. If you buy the 4 for $20 (or $40 or $60 or...), the house edge is 1.67%. If you buy the 4 for $10, I calculate the house edge as 3.33%. Buy the 4 for $5, and the house edge is 6.67%.

    Another way of saying the same thing: For a $20 bet, place wins $36; buy wins $39. For a $10 bet, place wins $18; buy wins $19. For a $5 bet, each wins $9.

    Am I right? If so, why shouldn't you always buy the 4 or 10?
     
  2. shifter

    shifter Degenerate Gambler

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    only if you play at a place where they take the vig after you win the bet. if you have to pay the vig upfront, it's not as good of a deal under $20. also some casinos won't let you buy unless you're betting at least $20.
     
  3. larryg

    larryg Low-Roller

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    You're right with respect to "only if you play at a place where they take the vig after you win the bet" -- but every casino on the Strip that I've tried only charges on the win.

    As to "also some casinos won't let you buy unless you're betting at least $20" - aha! That makes sense! I've never tried to buy for less than $20. Does anyone know if Strip casinos allow this?
     
  4. makikiboy

    makikiboy VIP Whale

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    actually I was downtown last month (march) and I actually saw someone buying the 4 and 10 with only a $5 bet. It was at the EC and an old lady was buying the 4 and 10. I think she got maybe .25 or .50 more when she won but I guess every penny counts when you are a low roller.

    I do know that places that have $3 craps table like the EC for the fremont have .25 chips. the fremont .25 chips are bright colored (was it orange or pink? I forget).
     
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