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Old 08-24-2005, 12:56 PM
CORed CORed is offline
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Join Date: Sep 2002
Posts: 273
Default Re: odds terminology, does a bet pay 1:1 or 2:1

The usual terminology is that, for example, the red or black in roulette pays 1 to one (or even money) or that it pays 2 for 1. Casinos typically use the first for table games, and the second for slots/video poker. This sort of makes sense, because in a table game, you usually put your bet in a square or circle marked for that purpose. If you lose, the dealer picks up the bet, if you win, the dealer puts your winnings in the spot and leaves your original bet there. If you push, the dealer does nothing In a machine, you have to put coins in the machine to play. If you win or push, money come back out of the machine.

Somewhat of a hijack: Something that really annoys me is when you get the pair of jacks or better on a video poker machine and just get your money back, and WINNER!, in big letters, flashes on the screen. I've even run across video slot machines where I put 5 coins in, get three back, and the machine tells me I'm a WINNER! Do they think I'm stupid? Well come to think of it, if I'm in a casino playing a -EV machine, maybe it's not so unreasonable for them to assume that I'm stupid.
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