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Can anyone find a flaw in this strategy?

Discussion in 'Non-Vegas Chat' started by SouthPoint, Oct 26, 2016.

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  1. SouthPoint

    SouthPoint Tourist

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    Hi all,

    My local casino offers 110% exchange for coins, but you receive it as casino play. The limit is $1000 and that got me to thinking about a possible strategy, which goes as follows:

    1- Exchange $1000 for $1100 casino play.
    2- Play Electronic Roulette. $500 on Black, $500 on Red, $28 on 0, $28 on 00. $44 left over.
    3- Should Black/Red come up, I'll recover my $1000 and have the $44 left over. Should 0 or 00 come up, I'll have $1008 plus the $44.
    4- They usually have 'gift days' where 50-100 points gets you some giveaway item. The $1000+ coin-in should be enough to qualify me for this as an added bonus.

    I believe there's a limit of once a week or once a month, but I'm just curious to see what others think. It's not very far from me and I've seen many people exchange large amounts of coins there, so $1000 shouldn't be a problem.
     
  2. vegasdev

    vegasdev VIP Whale

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    go for it! let us know how it turns out.
     
  3. tringlomane

    tringlomane STP Addicted Beer Snob

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    Take advantage while it lasts.

    But if you play e-craps I would think you could do better with little variance. if pass/don't pass is allowed on the same terminal.

    Pass: $541
    Don't Pass: $541
    12 at 30 to 1: $18

    Non 12 comeout: $18 loss on 12, remainder cancel

    12 comeout: $541 loss on pass, push on don't pass, $540 win on 12: $1 loss.

    Expected value of $1100 free play:

    (35/36)($1100-$18) x (1/36)($1100-$1) = $1082.47 = $82.47 average profit.

    And if you can use the free play on odds bets, you could do slightly better than this.
     
  4. SouthPoint

    SouthPoint Tourist

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    Really appreciate the written strategy. This is a very small casino and is more like a gaming parlor, so I'm not sure if they have e-craps. Heading over tomorrow to check out what is available, but as far as I remember it is mostly slot/video poker machines, two blackjack tables, a Craps table and 2 electronic roulette machines.

    Will definitely go your route should e-craps be available :licklips:
     
  5. PetePhD

    PetePhD Newbie

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    Wouldn't you have to run through the entire $1100? If you have any left over you would need to bet that before you would be able to cash it out. Maybe I'm wrong, but I think that is how it would work.
     
  6. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    Sound like a real heavy "grind" for very little money. I hope that you live close to the casino.

    If you did that every day and made the minimum amount of money, how much per hour would you be making?

    It reminds me of the (old) Chinese guys who took the charter bus from NYC to AC, collect the $10 or $20 that the casinos gave them, and sit on the Boardwalk all day until it was time to go home.
     
    Last edited: Oct 27, 2016
    HGS/GGWU - final trip of 2018
    First trip of 2019 - my birthday
  7. Frankr163

    Frankr163 High-Roller

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    Can you get reward credits on the casino play credits?
    Most place don't allow it.
     
  8. Snidely

    Snidely VIP Whale

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    There was a sign the ecraps machines at Bellagio saying something to the effect of no promo credits could be used. When I read it the sign, my first thought was that it was to stymie a strategy such as this.
     
  9. NewOrleansSlimm

    NewOrleansSlimm VIP Whale

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    after the first spin, almost all of the $1,100 will be through the machine so he will get RW points on the 2nd and every spin after...this is not a big money making strat, it will build points and if he wants points for the free gift or to get a higher tier card, good way to go and get your ADT up as you will be betting huge...

    however, someone down here figured a strat out similar to this on a smaller budget, it was $50 red, $50 black, $3 0, $3 00...red or black you would loose $6, either 0 hit you would win $5...the person didnt mind funneling money through with no real chance to win anything because for losing $6, they were getting $106 woth of tier credits each spin..21 tier per spin and your RC's greatly increase

    they did this to get their diamond card real quick...it took harrahs a lil while to figure it out, when they did, they switched it to where it was some crazy $25 or $30 coin in per TC
     
  10. letsgotovegas

    letsgotovegas High-Roller

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    IIRC, I think some casinos don't allow point accumulation on e-roulette. I would check on this first as your bets might not get you the points you need for a gift.

    If you aren't allowed to make the "opposite" bets (red/black etc) on the same machine - can you load half your free play into two machines and play the opposites that way? You might need a partner to accomplish this though.

    Surely someone in the casino world has figured out this strategy and somehow put in rules to prevent it? But maybe I am giving them too much credit.

    Good luck whatever you do!

    Cheers,
    Kelly
     
  11. tringlomane

    tringlomane STP Addicted Beer Snob

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    Yeah, the numbers he came up with leaves him with freeplay to play off. But the basic idea still works, assuming you can use the promo play on it. The e-craps I suggested plays through all $1100.
     
  12. SouthPoint

    SouthPoint Tourist

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    Part of me is just curious to try it out because it feels nice to have an edge over the casino for once :licklips: Should I be able to find tringlomane's e-craps machine and employ his strategy, I can make $80ish. Between running to the bank and changing $1000 into quarters, driving to the casino to have them exchanged and performing the actual gambling - I imagine on a good day this can take around an hour. With lines at both Bank/Casino and some traffic (Bank to Casino is less than 10 min drive), probably closer to 2 hours.

    Will check on this and let you know!

    Thanks for the support! I'm heading with a friend who has around $90 to exchange and testing it out on a smaller scale. The lack of point accumulation would certainly be a bummer though. They have killer food there, so I was looking forward to some free meals after a few visits.
     
  13. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    I'm not sure if this is still the case, but, when I used to work in retail, the banks charged us a small fee per roll (maybe box?) of coins that we bought from them. Granted, we purchased a lot at one time, but that may be something you want to check into first before trying this. That, and $1000 in quarters ain't light!
     
  14. Aces and Eights

    Aces and Eights VIP Whale

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    If you don't really want to play, or if the amount is over your total limit for what you want to play, that's fine. But if you plan to play a $1000 anyway, you could just play the amount as you would always play.
     
  15. Richard Alpert

    Richard Alpert LOST

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    I'd like to try too, but I only found $1.17 under the couch* cushions, so I have a ways to go!

    Best wishes on your plan, though!

    *sofa or davenport

    RICHARD
     
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