Golden Touch Craps
Who is "cheating" whom?
In a post that a writer wrote on the private pages of the GTC website, we were discussing a player who was "backed off" for using his skill at a table game. We debated the rationale of the folks who make this type of decision. It got me thinking about this topic.
The argument the morons who do this use is the game is supposed to be a random game. If you do anything to alter the random nature of the game they view that as "cheating".
Of course they ignore the fact the casinos do not pay off on the bets according to the true odds for random. They see no problem with the casinos charging 16.67% to 25% over random for some of the wagers on a craps table. In addition they have even higher "taxes" on some of the other games in the casinos.
Their argument for this is they have to make a profit to pay the employees and all the other overhead associated with running a business.
But even if they actually paid true odds on every single wager in the casino, including 100% payout on slots, the casinos would still make money. They have other controls in place that give them the advantage over every player.
They have table limits and limits on how much you can win in slots that give them a stop-loss to prevent significant sums from being lost by the casino when a random winning streak occurs for the players. Their biggest advantage is the huge bankroll of several million dollars they have to back them up. This prevents them from going broke on a losing streak for the house.
Very few players have the discipline to walk away when they are winning. They will continue to play with their winnings putting them back into action. This is known as "churning" and it will eventually wear down a player's luck in a random game. Sooner or later a continual losing streak will occur, either slowly (choppy) or rapidly (cold). In that case the player does not have the bankroll or discipline (stop-loss) to walk and goes broke or loses a sizeable portion of his bankroll in the process.
In addition casinos can make a profit from the hotel, restaurants, shops, spa, pool, entertainment, bars, etc.
The proponents of a random game will argue it is "cheating" to attempt to beat the games with skill. But they have no problem with the casinos lining their coffers by "cheating" the public with their greed when it comes to setting their win margins over that of a "fair" random game.
They could provide a "fair" random game and still make a profit, albeit a smaller one then what they have become accustomed to getting. That is the real rub. It has nothing to do with the public "cheating" the casino by using skill and the rules of the game. By not allowing players to use human skill to beat the games it is the casinos who are doing the "cheating".
Am I the only one who sees the hypocrisy in this?