Any good ideas on how to play this gift voucher

[Mr. T]

I have been given a $500 gift voucher by the casino.

I would use this on the mini baccarat game. Does it matter if I bet this voucher on banker or player and counter bet $250 cash on the opposite side.

Since we have the single zero roulette here would it be better to bet the voucher on red or black and $500 cash on the opposite side and also $15 cash on the zero.

Any other better ideas?

 

[FLASH1296]

"Different Strokes for Different Folks"

The fine print on your "gift" will restrict you to even-money bets only.
That is unfortunate for you, as you get far more bang for your buck by betting it all on a roulette number straight up.

Your best bet in the casino, is to take advantage of the lowest casino house advantage by betting it all (on one bet) at a baccarat table - on BANK.

Your strategy of making a counter-bet is Risk Averse, as all you are doing is surrendering part of your gift to insure yourself of a guaranteed, (but reduced) profit.

This is a matter re: the "utility function" of the "gift" and is purely subjective.

If you are happy with less (but guaranteed) money go for it your way; with the understanding that, in effect, you are saying to the casino: "Thank you, but I do not care for risk, I would like less money, perhaps one-half, with no risk of receiving nothing at all."

"Different Strokes for Different Folks"

 

[shadroch]

How do you know what the restrictions on the gift are?
I'll answer that. You don't.
But that doesn't stop you from being an authority on it.
Yet again.

 

[moo321]

I have been given a $500 gift voucher by the casino.

I would use this on the mini baccarat game. Does it matter if I bet this voucher on banker or player and counter bet $250 cash on the opposite side.

Since we have the single zero roulette here would it be better to bet the voucher on red or black and $500 cash on the opposite side and also $15 cash on the zero.

Any other better ideas?

See if it restricts you to even-money bets. If it doesn't, you should break it down into smaller chunks, say $25 or $10, or whatever you're comfortable with, and bet single numbers in roulette.

If it does restrict you to even money bets, the player is actually a better bet in baccarat. But the line in craps is marginally better than either. Blackjack is not a good choice.

James Grosjean has a paper out on the internet about how to maximize coupon value.

 

[FLASH1296]

Yes shadroch. I am "an authority on this" as I have received so many of these over the years.

have you ever seen one that wasn't restricted to even-money bets ?

 

[Automatic Monkey]

See if it restricts you to even-money bets. If it doesn't, you should break it down into smaller chunks, say $25 or $10, or whatever you're comfortable with, and bet single numbers in roulette.

If it does restrict you to even money bets, the player is actually a better bet in baccarat. But the line in craps is marginally better than either. Blackjack is not a good choice.

James Grosjean has a paper out on the internet about how to maximize coupon value.

I usually put those things on Don't Pass line on a craps table- unless you lose the coupon on a push because you can push on Don't. Pass is almost as good. Nearly all bets are the same in roulette so if you can break it down there's no advantage to playing a number.

 

[FLASH1296]

You bet it on BAKER, not Player, if you want the greater likelihood of winning
and are wiling to pay a "commission" in order to do so.

BANK wins about 52% of the resolved bets.

The only catch is the 5% commission extracted.

PLAYER wins about 49.3% of the resolved hands

Do not make the mistake of thinking that the Banker bet is inferior to the Player bet.
The Banker Bet has an e.v. of about -1.2%
The Player Bet has an e.v. of about -1.4%

 

[FLASH1296]

I have Beyond Coupons by James Grosjean.

Mr. G is a world class gambler with a Ph.D. in mathematics.
There is no pro gambler who is more revered and respected.

This is the final answer on how to best use match-play coupons, funny money, non-redeemable chips, etc.

I will provide it (gratis) to anyone who messages me with their email.

I am reasonably sure that this document (it is only a few pages long) is in the public domain.

It is very worthwhile.

 

[callipygian]

I have Beyond Coupons by James Grosjean ... I will provide it (gratis) to anyone who messages me with their email.

What a generous offer!

http://www.blackjackforumonline.com/content/beyondcouponsbjfo.pdf

 

[FLASH1296]

Thanx call'

I couldn't find it at Chez Le Bishop.

 

[ChefJJ]

I have Beyond Coupons by James Grosjean.

Mr. G is a world class gambler with a Ph.D. in mathematics.
There is no pro gambler who is more revered and respected.

This is the final answer on how to best use match-play coupons, funny money, non-redeemable chips, etc.

I will provide it (gratis) to anyone who messages me with their email.

I am reasonably sure that this document (it is only a few pages long) is in the public domain.

It is very worthwhile.

This very same document says to bet Player when using a coupon...

"The expectation on the Banker bet is
0:4585974 * $19 - 0:4462466 * $10 = $4:25. The expectation on the Player bet is 0:4462466 * $20 - 0:4585974 * $10 = $4:34."

Is there another reason why you recommend Banker? Thanks.

good luck

 

[FLASH1296]

I M H O most persons who are asking this specific question
are willing to give up a (not unreasonable) 5% commission,
(payable after winning), to have a HIGHER PROBABILITY of WINNING.

His primary goal is to turn the "gift" into cash.
His secondary goal is to find a good way to do so.

This is similar to the issue of "Risk-Averse indices" vs. "E.V. Maximizing indices".

 

[ChefJJ]

So Mr T. Could either listen to you to bet BANKER, or the gambling math expert that you revere to bet PLAYER?

As an AP, Flash, what would you do?

good luck

 

[Mr. T]

Thanks Guys ! for the swift and overwhelming response.

There are no conditions at all on its use. It is a straight gift voucher. It is not like your match play coupon. So you can counter bet in Mini Baccarat if I want to. It is not single use and you can re-use the coupon if you win.

On FLASH point on why not ensure a half win instead of a 50% chance of a full win isn't there a saying " a bird in hand is worth 2 in the bush"

I have read the write-up by Grosjean and I think he recommend the players bet.

I am going on my complimentary cruise for the next 5 days in 1 hours time but will be checking in here where I can.

You would not beleive this. I have complimentary cruises here on all cruises up to the end of this month on Star Cruises ship Libra. Just not practical to go on continuous cruises for so long so will be taking short break on land in between.

 

[ChefJJ]

Enjoy your cruises, Mr. T!!! An envious predicament you are in :grin:

Despite what the experts say about baccarat with the coupon, I say CRAPS!!! (naturally).

good luck either way

 

[FLASH1296]

There is NO correct answer.

Both options are equally valid.

The above statements are equally correct.

One choice makes $25 more WHEN it succeeds.
The other makes $25 less but succeeds more often.

What the recipient of the "gift" has, is a $500
free bet with which he can win $500
with a probability of almost 49.3% OR
a free bet with which he can win $475
with a probability of about 52%

So ... you may pay a fee to improve the likelihood of transforming a gift into cash.

The House edge is higher on the PLAYER bet and it wins less often.
The House edge is lower on the BANKER bet but you receive less
than even money, because you win your bet more often than you lose.

Which do YOU choose ?

If you say it depends on how much you need to 'win' the bet,
then that is a pretty good answer as far as I am concerned.

 

[ChefJJ]

It's cool, FLASH...just bustin' your chops. :joker:

I'd stick with craps, as I stated before, but that's because I'm extremely biased. :devil:

good luck

AFTERTHOUGHT - I'm a Pass Line rather than DP guy to begin with, but AM brought up a fantastic point that a push is possible on a "Bar 12" Don't table (most common form). Without necessarily doing the math, I wonder if that factor upends the slight HE advantage of DP over Pass for a situation like this???

 

[shadroch]

Thanks Guys ! for the swift and overwhelming response.

There are no conditions at all on its use. It is a straight gift voucher. It is not like your match play coupon.

Obviously you are mistaken. Flash has stated so. He is the expert, just ask him.
Out of curiousity, can you play slots with it? If so, I'd shoot for the moon and blow it on $1 slots. If you want to be sure of winning at least $250, try video BJ at around the $1-$10 level.

 

[moo321]

I usually put those things on Don't Pass line on a craps table- unless you lose the coupon on a push because you can push on Don't. Pass is almost as good. Nearly all bets are the same in roulette so if you can break it down there's no advantage to playing a number.

No, numbers are better in roulette if you only keep your winnings.

Let's just assume for simplicity's sake it's a coin flip with no house edge. A $5 coupon is worth $2.50 betting black or red, because it pays $5 50% of the time.

But now, let's assume it's a 1 in 4 chance. A 1 in 4 chance that pays $15 has an expected value of $3.75.



On the other hand, if you bet the $5 coupon and win $10, then the colors are the best.