simple April problem #1

EXTRAPOLATER

EXTRAPOLATER

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I'm having a little fun-time casino event at my mansion in Beverly Hills and I need to set some odds for a few games that I'm running. I want the house-edge to be 0% so that the lucky ones can be the lucky ones.

Got a couple of games that I can't figure out the odds for.

game 1)
--pick a spade contest--contestant picks a spade from a deck of 52 and wins. what should this pay?

game 2)
--pick NO spade contest--contestant must NOT pick a spade from a deck of 52--what should this pay?


Somebody help me out and I promise a greater challenge for problem #2.
 
M

marine

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13 spades; 52 cards

looks like it should pay 4:1 to pick a spade

Should pay 1:1.3 to pick a non-spade
 
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justin22g

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52 cards in a deck
13 in a suit.

so 1 bet to win 4 odds for picking a spade out of the other suits.

the game "not to win spades" you can pick 39 cards out of 42 to be winners. so the odds should flip around. 4 bets to win 1.
 
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McVegas

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To pick a spade would have to pay 4 for 1 (meaning the house keeps the 1 unit bet and pays out 4 units, thus a profit of 3 units to the winner) or 3 to 1 (meaning the house does not take the winning bet and pays out 3 units to the winner...basically its the same payout. Non spade is the opposite 1 for 4 OR 1 to 3....its the same thing.
 
EXTRAPOLATER

EXTRAPOLATER

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translate "4:1" for me.
is that 4 to 1, as in +400?

and no jokers. deck of 52.
 
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justin22g

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4:1 is +400

If you place a bet on the "pick a spade" for $100. then your return if you win would be $400.

if you place a bet on the "don't pick" for 100. then your return if you win would be $25.
 
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marine

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justin, its +300.

To convert moneyline to decimal odds it depends on whether it's positive or negative. If it's positive, you divide by 100 and add 1. $400 moneyline is the same as 5.0 in decimal odds. If the moneyline is negative, to convert, first remove the negative symbol, then instead of dividing by 100, you take 100 and divide it by the moneyline amount, then you add 1. For example, -$400 moneyline is 100/400 + 1 in decimal, or 1.25.
 
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McVegas

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Look, if I place a $1 bet to pick a spade and WIN, you either A. Take my $1 bet and pay me $4.....OR B. Allow me to take my dollar back or bet again and pay me $3.....its the same thing. 4 for 1 OR 3 to 1.....its the same. If you payout 4 to 1 the house will go broke.....take a deck of cards (minus jokers) deal out the whole deck and keep track of spades (winner for player) versus non-spades (winner for house), 13 player wins at 4 to 1 = 52 units the player would be up, minus the 39 times the player loses and the player would still be up 13 units after dealing out the entire deck.
 
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marine

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McVegas said:
Look, if I place a $1 bet to pick a spade and WIN, you either A. Take my $1 bet and pay me $4.....OR B. Allow me to take my dollar back or bet again and pay me $3.....its the same thing. 4 for 1 OR 3 to 1.....its the same. If you payout 4 to 1 the house will go broke.....take a deck of cards (minus jokers) deal out the whole deck and keep track of spades (winner for player) versus non-spades (winner for house), 13 player wins at 4 to 1 = 52 units the player would be up, minus the 39 times the player loses and the player would still be up 13 units after dealing out the entire deck.
Click to expand...

and when you place a bet at your sportsbook and its "even money" is it listed as +100 or +200?

It's listed as +100. You keep your original wager + 1x your wager.

Saying 4 to 1 is the same as 3 to 1 is not correct.
 
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yak merchant

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ppabart said:
I'm reading Marine's post, eistein....that's why it's in quotes. Pay attention
Click to expand...

Well I apologize as I assumed you were questioning Mcvegas like everyome else. That being said I was paying attention, as I don't think anything in your post was in quotes, nor did it reference marines post.
 
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McVegas

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marine said:
and when you place a bet at your sportsbook and its "even money" is it listed as +100 or +200?

It's listed as +100. You keep your original wager + 1x your wager.

Saying 4 to 1 is the same as 3 to 1 is not correct.
Click to expand...

I said 4 for 1......not 4 to 1. Please look at my original post, I think it explains the situation.
 
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marine

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Sorry,
I must be getting weak in the head, never seen odds and payouts discussed as "4 for 1". maybe when making change on the craps table, but that's it.

my bad.
 
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