Lucky Ladies question

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bjcount

Well-Known Member
Pro21 said:
If you hit the 125 payoff or higher do they make you file a W2G?
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I am not sure about LL, but if it works the same as it does at craps, when I rolled all 6 points and hit the "fire bet" for $5k there was No W2-g filed. Maybe it has something to do with paying you in chips, it's not "Legal Tender"?

BJC
 
B

bjcounter

Well-Known Member
I hit a side bet for a little over $1,300 and I had to fill out paperwork for it, and I was paid in chips at the table. I think it might have something to do with the odds payouts.
 
B

bjcount

Well-Known Member
bjcounter said:
I hit a side bet for a little over $1,300 and I had to fill out paperwork for it, and I was paid in chips at the table. I think it might have something to do with the odds payouts.
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For those not familiar a Fire bet in craps is a side bet with $5 max bet.
If you hit 4 different points it pays 25-1
5 points 250-1
all 6 points pay out is 1000-1


BJC
 
FLASH1296

FLASH1296

Well-Known Member
The Fire Bet is one of the worst possible bets to place.

The House Advantage is so absurdly high that it makes

me feel dizzy just contemplating the computation of it.
 
B

bjcount

Well-Known Member
FLASH1296 said:
The Fire Bet is one of the worst possible bets to place.

The House Advantage is so absurdly high that it makes

me feel dizzy just contemplating the computation of it.
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The HA may be absurdly high but it's $5/ shooter vs the $100+ per shooter you put out on come bets.

Two weekends (day trip) in a row I hit 4 points in back to back rolls and that happened in two different stores. So that was 4 fire bets hit, $500 total in two days.

I was so pissed I couldn't hit the 5th point. :cool: , and a $1 bet for the dealers on the fire bet which hits looks real swell :) (especially twice in the same session, same table).


BJC
 
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J

johndoe

Well-Known Member
FLASH1296 said:
The Fire Bet is one of the worst possible bets to place.

The House Advantage is so absurdly high that it makes

me feel dizzy just contemplating the computation of it.
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Yes, it does have lousy odds, 20-24% house edge depending on pay table. But it's a rare and small $5 bet that can't be made very often, so the $/hr expected loss is relatively small.

Still better than the lottery!
 
Automatic Monkey

Automatic Monkey

Banned
bjcounter said:
I hit a side bet for a little over $1,300 and I had to fill out paperwork for it, and I was paid in chips at the table. I think it might have something to do with the odds payouts.
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Yeah I think it has to be over a 300-1 payout.. I've won over $1200 on a hand and had no paperwork, can't imagine they would treat a sidebet differently.
 
Mimosine

Mimosine

Well-Known Member
Automatic Monkey said:
Yeah I think it has to be over a 300-1 payout.. I've won over $1200 on a hand and had no paperwork, can't imagine they would treat a sidebet differently.
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i actually think they do, it has to do with a combination of the odds and the amount one.

A $1200 win on a slot machine triggers a CTR, regardless of bet per line.

Fire bets, lucky ladies QhQh-BJ will probably also trigger this at high enough payouts.

For straight BJ, the $10k CTR limit is in effect, the the highest possible win on a hand of blackjack is 4 splits with 4 double downs, but for each individual bet, it is a 1:1 payout.

i've never bothered to look up this stuff, because if i ever hit a payout like this, I'll file the CTR without delay.


what exactly is the real odds on the Fire bet? Flash, wanna crunch the numbers? 20% seems really high.
 
B

bjcount

Well-Known Member
Mimosine said:
i
For straight BJ, the $10k CTR limit is in effect, the the highest possible win on a hand of blackjack is 4 splits with 4 double downs, but for each individual bet, it is a 1:1 payout.

i've never bothered to look up this stuff, because if i ever hit a payout like this, I'll file the CTR without delay.


what exactly is the real odds on the Fire bet? Flash, wanna crunch the numbers? 20% seems really high.
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At the store I play, I rolled a 6 point fire bet with the max of $5 bet. Payoff was $5000 (1000-1) no W2-G.

Four way split must be the highest your store allows.
The store I frequent allows for unlimited splits, I have won with a 5, 6, and 7 way split with dd hands. It was a pretty sight :). Lost a few too.... very ugly. :flame:

BJC
 
S

suicyco maniac

Well-Known Member
AM is right. Its 300:1 on table games and I think it also has to be over $600 in addition to the 300:1.

This does not mean that the casino will know the law. I've won large table jackpots (200:1) a few times and it occasionally was a struggle to convince the pit that I didn't have to fill out a W2G or a CTR.

Also on one occasion in a casino in the middle of nowhere I won around 5K thru counting (no bonus hands) and the casino was ignorant of the laws. They were actually threatening to confiscate my chips if I didn't fill out a W2G. I fought it all the way to the Casino manager but she was just as ignorant as her employees. I eventually just caved in and filled it our because I had a plane to catch and knew I would probably not be back to this town for at least a year.
 
zengrifter

zengrifter

Banned
FLASH1296 said:
The Fire Bet is one of the worst possible bets to place.

The House Advantage is so absurdly high that it makes

me feel dizzy just contemplating the computation of it.
Click to expand...
Fire Bet is good... IF you are controlled dice shooter.... IF controlled dice shooting works. zg
 
Mimosine

Mimosine

Well-Known Member
zengrifter said:
Fire Bet is good... IF you are controlled dice shooter.... IF controlled dice shooting works. zg
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there might be other ways to win this bet if you had a table crew that was inexperienced, lazy, distracted, or bored.... or if you ZG was throwing - entertained!
 
FLASH1296

FLASH1296

Well-Known Member
The Connecticut Fire Bet


The Fire Bet table found at WizardofOdds.com:

4 points pays 10-1, 5 points pays 200-1 and 6 points pays 2,000-1 for a House Advantage of: 24.7 %

I recomputed this House Advantage using the pay table offered in the CT Casinos (Foxwoods, Mohegan Sun)

4 points pays 25-1, 5 points pays 250-1 and 6 points pays 1,000-1 for a House Advantage of: 29.6 %

 
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