Congratulations. You've Just Won $10K in Promo Chips...

[heavy]

Yeah, that would be nice.

I received an invitation to a craps tournament that awards $10K in promo chips as prizes. The breakdown is something like $5K for 1st place, $2500 for second. $1000 for third and $500 for fourth, and ten additional winners getting $100 each. Whatever. It got me to thinking about what exactly I'd do if I won a craps tournament that paid a substantial number of promo chips. Which gets me to asking YOU guys the same question. Let's assume the top prize is $10,000 in promo chips. You bet them. If you win the chips are collected and replaced with the chips you won. You do not get to keep the promo chips and re-bet them. Soooo, what's your play. How would you wager the $10,000 in chips? The Doey-Don't? Seventy-two shots at a $138 High-Low? Hardways for $2500 each? The object of this exercise is to get away from the table as quickly as possible - with as much cash in your pocket as possible. What's your betting strategy?

[London Shooter]

4,900 pass 4,900 DP and 200 on the 12

[AlBTossin]

The small amount of promo chips I have received could only be bet on even payout wagers (pass, DP, come, DC). If this is the situation then LS's bet looks pretty good.

[wild child]

The specific casino house rules may restrict playing the Doey-Don't with promo chips...
Even being promo chips ,you may be restricted to maximum table limit for any one wager....
.
Pass Line ,Come , Don't Pass and D C may be the a specific joint will allow promo chip wagers.
One house declined to let me place promo chips on the Big Six or Big Eight with together or one at a time....
However Factor chips you purchased or brought to the table seem a different matter......
.
When the variance indicates ,in your perception ,a trend toward Do-Do side or Dark Side
you could wager with the run or trend as you imagine it to be ,if there actually were such
things as trends or runs to the Do-Do side or Do Not side.......

just me saying
w c

[DanF]

3300 across x3 hand. Or 900 6-8 x 5 hands, both with maximised passline bet. On a winner hardway for half win(4-6-8-10)

[SHOOTITALL]

I would probably just play a martingale or fibo on the trend, P or DP, would not care which. Can't do the field because on the 2/12 would probably pay even money. However, the Big 6/8 might be a possible. The fly in the ointment here is when you lose a chip there is no way to recover it so the recovery has to be with real chips. It looks like it'll take 2 promo chips for one real chip.
Let's say you play a doey don't. You would be getting 1 real chip for 2 promo chips. So, the key here is to maximize your game to lose as few as possible which means basically your only option is any even money bet on the table and run flat bets only. On a progression, here is a possible progression: 50 - 150 - 350 - 750 - 1500. If you lost that progression, there went 2800 promo chips. If you doubled that, a five loss run would cost 5600 of your stack with no income but if you won on the last one, your income would $3000 for 5600 in promo chips, so that's better than the 2 for 1. However, I favor only a two step progression like 50 - 150. A win on the progression gives up 200 promo for 150 real.
Let me add here. If you are not in a hurry, I think the perfect play for promo chips on RRs is this: AFTER a RR makes his first point, then start betting the DP. From MP this stat: a random-roller trying for his second Point (+84% advantage), third Point (+93% advantage), and fourth Point (+97% advantage), etc. (Grow old at the table just betting against a RR trying for his third and fourth point)
This calculates to getting a 1:1 for the promo chip 84%, 93% and 97% for the DP plays.

[heavy]

Well, you guys have given me something to think about for sure. I was thinking more in terms of $3500 on the PL and use your best Sevens set on the come out. Maybe throw $300 on a three way craps. Establish a point. Lay 6200 against the point. Probably not the most effective but it would circumvent any No Doey-Don't rules. That's similar to what I did with the $150 - Free Plays I had in Biloxi last month. I profited 2 out of 3 times - and since it was promo money losing on that third time didn't get me all butt hurt or anything.

[stratocasterman]

Well, with my recent 4th Place Tournament win of 20,000 Pesos...I did the Doey/Don't w/midnight insurance on the randies with great success. Heck, I even got back my midnight insurance when I got my turn to toss the dice with a couple of quick passes.

I wasn't exactly sure if they would allow it so I politely asked. "Sure", they said, "a bet is a bet." Sweet...

Go get 'em Heavy!

[SHOOTITALL]

If they allow the promo chips on bets other than even money bets, all bets are off on my calculations and would have to factor that in.
For instance, buy the 4/10. There you would get basically 2 real for one promo (but only win half the time.)

[heavy]

If you can play props then I'm back on my 72 shots at hitting the high/low for $138 -

[London Shooter]

Do the chips just have to be played on craps? You could have some fun on the roulette wheel with 10k in promos.

[twowayhardeight]

If they only work for even money bets (which they usually do), then I would take them to the best BJ game to get max EV.

If you can use them on any bet, then I would use them on single numbers in roulette to get max EV.

If they are only for even money bets and I had to use them on craps I would probably divide up into $100 or $200 units and play them on the PL until they're gone at an empty table by myself with a Sevens set on the come out and then whatever my best set is for the point when one gets established. No hedging. ..... boring I know!

[wild child]

The $10,000 Promo Chips are essential free money....
Even if the casino will not allow you to place an offsetting wager , a partner
could Place Wager any and ALL BOX NUMBERS your D/C Promo Chip landed on.

If you establish $100 to $200 D/C on a specific Box Number ,your collaborator
could then PLACE the same Box Number for 50%....
and
you just ROLL ON,ROLL ON SOME MORE!

A strong case ( greater propensity )
for locking up a half loaf Vs taking a 100% gamble each toss.
Plus at least one of your "team" would be generously rewarded with enticing Comps.......

just me saying
w c

[DanF]

Ok same question but you can't set the dice, what is your move??

[House of Orange]

Learn to quick set

[heavy]

Quick Setting 101:

1. Ask the stick person to send them out on your preferred set. You'll be surprised how often they'll go along with this - especially if you toke.

2. If #1 fails then begin by watching the dice while they're in the middle. When the stickman pushes the dice to you you should already know what moves you have to make to set the dice like you want them. Pick the dice up one at a time and set them down in front of you, adjusting them on the move. Then pick them up and toss them.

3. If #1 and #2 fail then memorize the "kissing faces" of the dice on the various sets you use. The iteration of the V-3 that I prefer, for example, has the 5 and the 1 kissing with the 5 on the left die. That's all I worry about. I don't worry about what numbers are facing up. Just get the dice on the correct axis and toss them.

4. If #'s 1 - 3 fail then just make sure you don't have the same numbers or the sister numbers kissing. In other words, 5-1 kissing is okay. 5-2 or 5-5 is not. Why? Because when you have the same numbers or sister numbers on axis then you are setting the dice on an axis with 4 ways to make a seven instead of one that has 2 ways to make a seven.

5. If all of the above fail then toss the dice off the table on the next throw, then just tell the stick to drop you one die. Take whichever one he gives you and start over at #1 above. Repeat until they pass the dice.

[bounce the bones]

5k red 5k black 300 cash out of my pocket on the 0 00.