oh God do you really want to delve into the minutia of betting combined odds at Craps? My quip was simply to point out that thate are bets at the craps table that were far safer than than the claimed 1:3 for nabbing a all star with a 1-5 pick.
But sure if you WOULD rather talk table odds than admit your analogy was faulty here is the breakdown.
Many/mo Casino's pay a 1 to 1 on a EITHER a pass or a don't pass bet This would be essential quick observation I used as evidence for the basis of a 30 second response.
Obviously the odds of a roll either pass or not pass is not quite 1:1 because of the possibility of rolling a push. the house house edge for a pass line bet is 1.41% whereas for a Don't bet it is only 1.36%. which explains why if you were to bet the one against the other you would eventually loose to the house.
The assumption is that the pass bet offer better odds. Remembering that you are not rolling a single dice with 11 numbers on it. You throw two dice with six on it, meaning that there are 8 ways to throw a 7 or 11, 3 ways to throw a 2 or 3, and 1 way to throw a 12.
So if you are a gambler who wants to minimize your odds of loosing to as close to 505/50 your best options generally are found at the black jack table or the pass line on the craps table, or betting red/black at roulette, but obviously the 1:1 pay out will always belie the built in advantage to the house (approx 1and1/9:1) . All of which are a far cry safer odds than the1:3 a team gets AFTER being selected through the lotto to get a top 5 pick.
But sure if you WOULD rather talk table odds than admit your analogy was faulty here is the breakdown.
Many/mo Casino's pay a 1 to 1 on a EITHER a pass or a don't pass bet This would be essential quick observation I used as evidence for the basis of a 30 second response.
Obviously the odds of a roll either pass or not pass is not quite 1:1 because of the possibility of rolling a push. the house house edge for a pass line bet is 1.41% whereas for a Don't bet it is only 1.36%. which explains why if you were to bet the one against the other you would eventually loose to the house.
The assumption is that the pass bet offer better odds. Remembering that you are not rolling a single dice with 11 numbers on it. You throw two dice with six on it, meaning that there are 8 ways to throw a 7 or 11, 3 ways to throw a 2 or 3, and 1 way to throw a 12.
So if you are a gambler who wants to minimize your odds of loosing to as close to 505/50 your best options generally are found at the black jack table or the pass line on the craps table, or betting red/black at roulette, but obviously the 1:1 pay out will always belie the built in advantage to the house (approx 1and1/9:1) . All of which are a far cry safer odds than the1:3 a team gets AFTER being selected through the lotto to get a top 5 pick.
the only true 50-50 bet in any casino is odds behind the pass/don't pass. Those are true 50-50 bets... and if you find a casino that will let you play 10 X odds, then you can whittle down any given pass/don't bet to pretty negligible .02% house edge (by betting pass and maxing odds behind).
if you can count cards you can beat blackjack. you can beat poker. you can beat sports books even with the 10% vig. anything else you play you are guaranteed to eventually flush your money if you play enough.
I quit gambling almost three years ago and am not at all obsessed by it any more.