You would be surprised where you get advice for playing at the casinos, and you would be more surprised to hear that most of it is based on no real mathematical knowledge at all. One time though a homeless guy approached me for a few coins so he could get something to eat. Now in Las Vegas nobody has a few extra coins in their pocket since the slot machines are located so conveniently, but I gave him a nickel chip. He was so grateful that he told me he was going to give me the best craps advice there is.
“Go downtown to Binion’s and make a pass line bet and take those 10 times odds. It’s one of the best bets in the house,” he said.
The strange is, he was right on. The house advantage on this wager is .018%. Those multiple odds he was talking about- zero casino advantage. It’s the line bet where the casino enjoys its slight edge. And I mean slight. Expected mathematical loss on a $1 line bet with $10 odds, about 4¢. But we can combat that too by allowing them to throw in a few free drinks and a breakfast out of a floorman. At that point you are getting to where they’re paying you to play. This is the easy way to win at craps and in the casino. Yes, advice comes from the funniest places.