London Colin said:
That may well be so, but it's no reason to recommend that the rest of us "try it occasionally".
I didn't recommend that you try anything, but since you want to join the tussle, let me ask you this:
@Aslan said, "...making bad plays will reap negative EV. It is not good Karma in any AP sense of the word."
(I think he was refering to the gambler w/no money allowing another to bet a double spot.)
Notwithstanding that covering a bet as described can be +EV for both parties, I'll speak for myself and say that I can't remember when I was in a situation playing BJ where I couldn't cover a double when the situation arose. So what would your experienced, wring-every-cent-of-EV, AP self do in the following situation?
You're playing BJ and have one min bet in front of you, exactly what you plan to wager on the next hand. You have more money in your pocket - if you need it, you'll get it. You shove your bet into the circle.
You're playing with one other person that isn't a friend, but you've played with him dozens of times through the years. You're dealt 6-5. The dealer shows a 6, other guy has 8-3.
You reach into your pocket. Shnit! You've lost your money. Action is on you. You don't panic because YOU don't panic. You brush the felt.
"Wait. You're not going to double?", asks the other player.
"Nope. I'm out of money."
"Do you mind if I take the action?" You can tell he really wants to take the bet if you'll let him.
One unit. You have a 33% chance (or whatever) of winning. If you're rolled properly, the result of this hand will have less impact on your life than if you flushed the bet down the toilet. Are you such a nit that you'd say, "Sorry. If I do that, I'll reduce my chance of winning this hand by
x%." (even if you just say no, he'll know that's why).
What about 2 units? 10?
You decide to say "No" because of your expert analysis and play at the BJ table. Another guy that's just joined the table watches the exchange. After you bust out, they play together for an hour discussing your nittiness.
Two weeks later, you're at a casino and you see the guy. Before you can say hello, you discover that he's leading a group of investors that are about to IPO a hot company. You also discover that, if he wants, he can let individuals in on the action. The individuals lucky enough to get the right information will profit by 20% the day of the IPO. To him, it doesn't matter from a financial perspective whether he gives you the info or not. The guy that watched you being nitty is there, too. You all sit down together and the conversation turns to the IPO.
"Thanks for the info on the IPO.", the other guy says to the guy you nitted out on.
"No problem."
"So, can just anyone get in on this?", you ask.
"Well, if I give them the info, sure.", he says.
You say, "I'm interested."
"I was interested in taking the double you couldn't cover the other night. I really don't think you can afford it. Maybe next time. Here's some DEET for your nits."
You and whoever else here can take the position that, as experienced AP's, you'll never do anything that doesn't immediately help your cause from an EV perspective. Further, you can call anyone that does a fool. That is your right, after all.
I can't remember who said it, but.....
"It's a fine line between frugal and being a cheap bastard."
Best ~ L.I.A.