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#21
09-09-2005, 11:27 AM
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Re: Nits please read before posting
[ QUOTE ]
I'm going to clarify the definitions. House advantage is always described as a PERCENTAGE, not an amount of action. [/ QUOTE ] I think you mean "not a dollar amount". 
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#22
09-09-2005, 11:42 AM
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Re: Nits please read before posting
Ok maybe the term House Expectation would be better suited to this than HA.
Anyway lets just agree to disagree on this point.
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#23
09-09-2005, 12:31 PM
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Re: Nits please read before posting
[ QUOTE ]
Ok maybe the term House Expectation would be better suited to this than HA. Anyway lets just agree to disagree on this point. [/ QUOTE ] I don't think we disagree. I think the terms you're looking for are "expected earnings" for the club and "expected losses" for the player -- buying odds doesn't change either one. OTOH - it will change the range of expected outcomes.
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#24
09-09-2005, 01:58 PM
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Re: Nits please read before posting
[ QUOTE ]
The HA of the pass-line bet does not change, of course. The HA of the game as a whole (played optimally) does change- which is what I was talking about. If he said the HA of the pass-line bet does not change, you would be correct. However, he said the HA of craps does not change, which is incorrect. [/ QUOTE ] The odds bet in craps is a 0 EV bet (assuming fair random dice and no ability of the shooter to affect the odds through skilled shooting, of course). Therefore, placing an odds bet does not change the HA in dollars. It does, however, reduce the HA in terms of the percentage of your total wager. In the long term, it increases your variance without changing your EV. Making a $5 pass line bet with $10 odds is better than putting $15 on the pass line, but the same, in terms of EV as making the $5 pass line bet without the odds bet.
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