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#31
10-08-2005, 09:33 PM
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Re: Party Sidebet bar
[ QUOTE ]
Great... a new way to go on tilt. What's that 2+2 book that helps you control tilt again?? [/ QUOTE ] Adding blackjack at the click of a button at a poker table is a brilliant money making move by Party, IMO. 
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#32
10-08-2005, 09:33 PM
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Re: Party Sidebet bar
I just had an idea for something they could add to the sidebet bar, maybe only at certain tables, that would increase their rake and increase action at the tables. They should compile information for probability of each hand winning based on number of players to the flop and then offer a bet on you winning the hand. For example, let's say they find that J8o has a 21% chance of winning against 5 players. Just before the flop, they could offer you the option of betting on yourself at something like 3.5:1. You'd have like 3 seconds before the flop to decide or you could "auto-bet". You'd be sure to see increased action. The only problem would be collusion. Hmmm, that could be a major problem, but I still think it's a million dollar idea.
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#34
10-08-2005, 09:48 PM
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Re: Party Sidebet bar
[ QUOTE ]
I just had an idea for something they could add to the sidebet bar, maybe only at certain tables, that would increase their rake and increase action at the tables. They should compile information for probability of each hand winning based on number of players to the flop and then offer a bet on you winning the hand. For example, let's say they find that J8o has a 21% chance of winning against 5 players. Just before the flop, they could offer you the option of betting on yourself at something like 3.5:1. You'd have like 3 seconds before the flop to decide or you could "auto-bet". You'd be sure to see increased action. The only problem would be collusion. Hmmm, that could be a major problem, but I still think it's a million dollar idea. [/ QUOTE ] After thinking about this a little more, I think they'd have to make it so all players would have to take the bet on every hand. That way, there wouldn't be collusion and they'd get the same number of hands in per hour. It would eliminate the profitability potential for winning players (since they'd opt out of the bet), but I think it would still be good for Party.
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#35
10-08-2005, 09:50 PM
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Re: THE BETS ARE MADE BEFORE YOUR HAND IS DEALT
[ QUOTE ]
I hope this clears things up. Here is party's EV for $1 wagered on red (black is the same): P(all red) = (26/52)*(25/51)*(24/50) = 2/17 = 1/8.5 Payoff: -$7 P(not all red) = 1 - P(all red) = 7.5/8.5 Payoff: +$1 EV: (1/8.5)*(-$7) + (7.5/8.5)*(+$1) = +$0.05(8823) [/ QUOTE ] English Mother fucker
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#37
10-08-2005, 09:51 PM
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Re: Party Sidebet bar
[ QUOTE ]
[ QUOTE ] [ QUOTE ] It pays 8:1 if you hit [/ QUOTE ] check the FAQ on the PP page...."8:1" is the example, could/will vary... [/ QUOTE ] It doesn't say 8-1, it says 8 for 1, which is 7-1. [/ QUOTE ] true. the point i was trying to make is that the rate is not constant. it MIGHT be 8 for 1, it might be more/less. the verbage in their FAQ regarding this question makes this pretty clear. just thought i'd throw it out there fwiw (not much [img]/images/graemlins/wink.gif[/img])
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#38
10-08-2005, 09:56 PM
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Re: THE BETS ARE MADE BEFORE YOUR HAND IS DEALT
[ QUOTE ]
I hope this clears things up. Here is party's EV for $1 wagered on red (black is the same): P(all red) = (26/52)*(25/51)*(24/50) = 2/17 = 1/8.5 Payoff: -$7 P(not all red) = 1 - P(all red) = 7.5/8.5 Payoff: +$1 EV: (1/8.5)*(-$7) + (7.5/8.5)*(+$1) = +$0.05(8823) [/ QUOTE ] That is right. If you made a $2.50 bet on every hand you would lose $15/100 hands.
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#39
10-08-2005, 09:56 PM
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Re: Party Sidebet bar
[ QUOTE ]
This is semi-interesting but I'm not 100% sure I understand -- i.e., what is the difference between this and the concept behind BBJ tables? [/ QUOTE ] This is a sidebet you'd take every hand, say for $1 (although I'd make it so you could set the bet size). Say, for instance, Party compiles all of the hands from its history and determines that there is a 35% chance you'll win with KQo in late position vs 3 opponents. If that's the case, the breakeven odds would be 65:35, or 1.86:1. They'd decide on a certain house edge (if they were wise, they wouldn't make it too high -- a slow bleed is best), then offer the bet to the player. If they decided on 1.75:1, they would offer "$2.75 for $1". If the player bet $10, they'd "win" $27.50, for example. Anyway, my mind is just wandering. Maybe this wouldn't work, but I'm sure there are other ideas that would.
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#40
10-08-2005, 09:58 PM
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Re: THE BETS ARE MADE BEFORE YOUR HAND IS DEALT
[ QUOTE ]
[ QUOTE ] I hope this clears things up. Here is party's EV for $1 wagered on red (black is the same): P(all red) = (26/52)*(25/51)*(24/50) = 2/17 = 1/8.5 Payoff: -$7 P(not all red) = 1 - P(all red) = 7.5/8.5 Payoff: +$1 EV: (1/8.5)*(-$7) + (7.5/8.5)*(+$1) = +$0.05(8823) [/ QUOTE ] That is right. If you made a $2.50 bet on every hand you would lose $15/100 hands. [/ QUOTE ] I think they'd be wise to lower the house edge. They'd make more in the long-run.
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