- Purists: I guess if you are a purist all bets where the house has an edge over you is a “sucker” bet. Even of that edge is miniscule, your expectation is to lose – therefore, you make the bet and you are a sucker.
2. House Edgers: However, I think the common perception is somewhat different than the purist’s perception. The common perception is that low-house-edge bets are okay – such as playing basic strategy at blackjack; pass, don’t pass, come, don’t come, with odds at craps; baccarat’s bank or player bets would be “good” bets as well.
- Loss Per Hour: There is a third way as well, a wrinkle if you will – you must consider loss per hour. A mini-baccarat game can have low-house-edge bets but the speed of the game is such that this small edge can rip away at a bankroll. Playing $50 per hand in mini-baccarat will cost you a lot more than using the Pass or Don’t Pass betting $50 – although the house edges are relatively close on both games.
Loss per hour is rarely brought up when analyzing bets.
Strange as it seems, I tend to fall into all three categories. That’s my personal “trinity” of perception.
[Read my latest gambling books, I Am a Dice Controller: Inside the World of Advantage-Play Craps! and I Am a Card Counter: Inside the World of Advantage-play Blackjack!]