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7.BUY BETS
Another way to cover a number is to "buy" the bet. When you make a buy bet, the casino pays off the wager at true odds, but it charges a 5 percent commission on the bet. Thus, if you make a twenty-dollar buy bet you must pay the casino an additional one dollar as commission. This is known as the vig, vigorish, or juice. If your bet wins, your twenty dollars will be paid off at correct odds. The 5 percent commission provides the casino with its profit on buy bets. Most players assume that a 5 percent commission means the house has a 5 percent house edge on these bets, but that is not quite correct.
Since you are losing one dollar out of every twenty-one dollars wagered, the house percentage on this bet is 1/21, which is expressed as a percentage as 4.7 percent. In the long run, you will lose four dollars and seventy-six cents out of every one hundred dollars wagered on buy bets. The house will charge 5 percent on each multiple of twenty or portion thereof. If you bet twenty dollars, you will be charged a one-dollar commission.
If you bet ten dollars, you will still be charged a one-dollar commission. If you bet forty dollars, you will be charged a two-dollar commission. But if you bet thirty dollars, you will still be charged a two-dollar commission. Therefore, it is obviously in the player's interest to make buy bets only in multiples of twenty dollars in order to avoid being overcharged. Many casinos give the bettor a break in one situation. They charge only a one-dollar commission on wagers of twenty-five dollars. This is a concession to the green check player who would find it a hassle to convert his chips into a lower denomination just to make this one bet. This reduces the house edge to 3.8 percent.
If you wish to make a buy bet, place your chips, including the commission, in the come box and tell the dealer what number you want to buy. He will remove the commission and place the rest of the chips inside the box of the number you are betting on and will mark it by placing a small button on it bearing the word BUY. This will distinguish the bet from any come bets in the same box. Like place bets, buy bets are off on the come-out unless the player informs the dealer that he wants the bet working on all rolls. The bet can also be called off on any roll. Like all craps wagers except pass and come bets, a buy bet may be called down by the player anytime prior to a decision being reached on the bet. In that case, the dealer will return the commission charge along with the bet. see more > > >
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