With football around the corner.....

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Joinless
Created On:

09/07/2011 9:56 PM
Last Update:

01/17/2019 7:25 AM

With football around the corner.....

05/12/2008 8:27 PM · Johnny Detroit

It makes me think of my first involvement with gambling. Running those infamous white football cards. You know the ones with the 9-1 on a 4-teamer with the note at the bottom:

All ties lose
For entertainment purposes only

By a show of hands, what % of you made your first "really" bet on a football ticket? Shit, I remember, always being 3-0 and having that last game to go (this was before I knew what the hell a hedge was). The last game you needed NEVER won. It was never the first game on the ticket that lost as those things blue balled you more than the slutty looking chick who does not put out.

Why do street books and casinos love parlay cards so much? On average, the house edge in Baccarat is 1.06%. Blackjack is around 0.43% with Atlantic City Rules, 0.18% with Vegas rules. Let it Ride around 3.51%. Slot machines anywhere from 2-15%. Now onto parlay cards. The average street books pays 9-1 on a 4 teamer, which results in about a 46% house edge. Even with the best odds offshore at 12-1 the house edge still remains 29%, which correlates to the odds of the biggest casino sucker bet (outside of the Big Wheel), Keno. You see, the actual odds on a 4 team parlay are 15-1 which leaves the house with only an 11% edge or around the house edge for prop bets at the craps table. The more teams the player picks the higher the payouts become. You would think the house edge would remain constant compared with the lower combinations, but actually the house edge goes higher and higher with each team you add on. Hit a nice 8 teamer and get back 100-1. 100-1, wow, that is $1000 for my $10 bet. Sure, that is all fine and dandy, but at 100-1 the house is still keeping a 65% edge on the player. One offshore book pays out 2000-1 on a 12 teamer. House edge? 58%.

Topics: NFL parlay cards parlay odds

Johnny Detroit

Johnny Detroit has built an impressive winning record: He has been booted or had limits lowered at 9 offshore sports books, has numerous documented Top 5 finishes in both NFL and College Football and his... Read more