Oct

30

In Vegas over the years I used to play a little roulette. Odd or even or red or black and you have a 50/50 chance of winning on your bet. Reminds a novice like me of the market yesterday and today. Yesterday I would have been a hero and today a heel if playing. No thanks!

Steve Ellison notes:

Because the 0 and 00 are neither red nor black, your chance of winning on either red or black is only 18/38=47%, in the U.S. at least. That's a 5%-plus vig, which is why I never play roulette. In craps, a pass line bet with double odds has only about 0.6% vig, but beware of the suckers' bets such as field and hardways that have more than 10% vig.

Allan Millhone replies:

Still looks like roulette stands a better chance with an average guy like me. Odds are in favor of the house. But with insider trading deals to me it appears the market is heavily weighted towards the Big Boys with the inside track.


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