Casino bets vary in terms of the odds of winning. Slots may be popular games, but in terms of playing odds, they are not a good choice. This is because the casino's inherent edge gives them a whopping fifteen to twenty percent advantage over you.
Yes, some board games and even some car games have decent odds and can be a lot of fun. But avoiding the wrong bets can save you a lot of money on your next visit to the casino. Here are the details of four of the worst bets available at the casino.
1. Caribbean Stud Progressive Side Bet
Caribbean Stud Poker is a popular casino table game based on the rules of traditional stud poker. Players have the option of placing a side bet of $1 each spin. These bets go into a pot represented by a jackpot counter. Payouts begin for hands with a flush or better.
The pay tables vary from casino to casino but are always progressive. Another common feature: 100% of the running total is paid for a royal flush. Another common win: 10% of the jackpot meter for a straight flush.
The expected return for each game varies depending on the size of the progressive jackpot, but it is almost always a windy bet. The average house advantage is 26.46%, according to Wizard of Odds. We know that a flush occurs on average once every 509 hands. At fifty hands per hour in the casino, a player could easily play ten straight hours without receiving a flush. And it is the lowest payout in the side bet paytable.
Why you should place this bet: Most people who play Caribbean Stud place the $1 side bet. The progressive payouts are a big reason why people play this particular game. If you find it more fun, place it. Do this knowing it's a bad bet.
2. Keno (any bet)
Keno is partly based on the classic lottery designs. If that's not enough to scare you away from this risky game, read on.
In keno, players choose between one and fifteen numbers from an eighty sheet. Twenty winning numbers from that list are then chosen at random. Depending on how many correct numbers you match, you win a payout as shown in the game's paytable. Keno payouts vary depending on how many numbers you originally selected.
When Michael Shackelford of Wizard of Odds reviewed live keno games in Las Vegas, he found that the house edge ranged from 20% to 35%.
Why you should place this bet: If you love gambling, kill time at the casino or have found a video keno game you like. Video keno gives the house a much smaller advantage but moves faster.
3. Craps Proposals
Craps prop bets are tempting because they offer big payouts.
These are the bets that are in the middle of the layout: hardways bets, which require the shooter to roll a specific pair of numbers, and one roll bets, which lose if the shooter doesn't roll a specific number in the next round.
Here is an overview of the craps prop bets, the conditions for winning and their payouts.
These are windy bets because the winnings offered by the casino are significantly lower than the odds of winning the bet. This difference between the event odds and your payout means the casino has a huge advantage.
With so many good bets available in a craps layout, some as low as 1.36%, there is no point in risking an Any Seven bet, giving the casino an edge of over 16% on a payout of just 4:1.
Why you should place this bet: Maybe you are a hardcore gambler with a big bankroll or just a gambler who likes to take risks.
Because craps outcomes are entirely based on luck, prop bets are usually the preserve of adventurers.
4. Blackjack Insurance
Buying insurance against a blackjack dealer is a classic example of a sucker bet.
If the dealer shows an ace and is able to hold a natural blackjack, all players have the option of buying "insurance" for half of their original bet. If the dealer has a natural blackjack, the insurance bet pays 2 to 1, turning what would have been a losing hand into a push. What if the dealer doesn't have a natural? You will lose your insurance bet, but you will still be eligible to win based on your original bet.
Why you might want to place this bet: If you are an experienced card counter, you can recognize game situations where it makes sense to take dealer blackjack insurance.
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