One of the biggest knocks against engineering students is we
don’t learn anything in class relevant to daily life. Often
times, this is true. But there are exceptions.
Last quarter, I was enrolled in “Electrical Engineering
131A: Probability.” The scope of the class covers the
probability and random processes for electrical engineering.
Yawn.
But don’t be fooled by the title ““ this class was
loaded with information and strategies about how to calculate odds
and probabilities while gambling.
Two weeks removed from the final, I found myself sitting in a
Nevada casino, surrounded by hundreds of flashing lights and the
sound of people yelling while money fell from all directions.
It was time to put what I learned in class to good use.
I decided to give Video Poker a try. This is your game if
you’re afraid to lose money. Like a slot machine, you can
choose from $.05 to $5 per game, and bets range from 1x through 5x,
the maximum bet. The maximum bet always has a better payoff than
the lower multiple bets, so start out at a low bet machine and bet
the maximum.
It’s not always obvious, but it’s been calculated
that betting the maximum will give you the best odds of making, or
not losing, money over the long run ““ don’t believe me?
Take a probability class for yourself.
On to Craps. This is probably the most intimidating game to most
gamblers because of the number of bets you can make. Just looking
at a Craps table can give you a headache.
Everything revolves around two dice. I stayed with the
Pass/Don’t Pass and Come/Don’t Come bets, since the
house has the smallest edge over the player at 1.4 percent. I was
afraid any other bet would be simply throwing my money away.
In this game, the odds are very clear cut. Common logic would
tell you the odds of a number showing up on a dice roll is always
the same. If the shooter rolls a seven in his previous roll,
probability tells us that the odds of his next roll being a seven
is unchanged.
There are no trends in the rolls, no tricks to the game.
But put down $10 in chips on the Pass Line, and you can throw
common logic out the window. People will blow on, talk to, shout at
and kiss the dice for good luck. I was almost one of them.
I couldn’t handle the swings at the Craps table, so I
moved over to the card tables and played some Pai Gow.
I was first introduced to Pai Gow by a friend of mine.
It’s extremely popular among Asians, and translated to
English, Pai Gow must mean World’s Slowest Card Game.
Pai Gow is a game of skill, since the player plays two Poker
hands against the dealer. This is the only card game where the odds
of the player winning equals the house odds. But in order to win,
the player has to win both hands against the dealer. Most of the
time, the player and dealer end up pushing. The game moves slower
than molasses, and the only house odds are in the 5 percent
commission the player pays the house for winning.
Blackjack is the complete opposite of Pai Gow. It’s fast
and unrelenting.
House odds increase with the number of decks in a shoe, but the
odds are always only slightly in favor of the house. The game moves
too fast for some, myself included.
I saw a family playing Baccarat, so I stopped over to watch.
Yelling often surrounds a table when this game is being played. The
goal of this game is to draw a two or three card hand with a value
closer to 9 than the dealer’s hand. Numbered cards have their
face value and 10s and face cards count as 0.
There is no strategy to this game, despite what you may see or
hear from anyone. Studying trends of past outcomes to predict
future winners is useless.
Betting on your own hand gives the house a slight edge (1.24
percent) while betting on the dealer lowers the house’s
advantage. Apparently, it’s extremely unpopular and almost a
sin to bet against the player ““ don’t do it, especially
when the player is your own family.
I left virtually even for the night ““ give or take a few
nickels. But given the odds that were stacked against me, losing no
money is still beating house odds.
I decided to try my luck one more time at the sports book. For
my money, there is no better bet in town. I put down $20 on UCLA to
win the Las Vegas Bowl, and came out a winner.
Sure, betting on the inconsistent UCLA football team goes
against all rational thinking, but I came here to gamble, and this
time, it paid off.
Chiao is a fourth-year electrical engineering student. The South
Campus column publishes on Wednesdays of odd weeks.