Differing Utilities
Bootlegger,
You wrote:
People play 6:5 games because they are low limit games. It is almost impossible to find a $5 game on the Strip that isn't a 6:5 game. People who play these games don't know that there are $25 tables on the strip that would cost less per hand than the 6:5 single decker costs at $5 per hand. You could tell them and they probably wouldn't believe you.
Most gamblers who go to Las Vegas expect one of two things: they will either get lucky or they will lose. The house advantage doesn't enter into their thinking.
Let's look at the immortal question: "Why do ploppies play $5 crapjack rather that $25 BJ?"
Consider a ploppy who hits the Strip for an evening of gambling. He's got an ENTIRE Benjie just burning a hole in his pocket, and he wants to match his B.S. skills against the casino for an hour. He's faced with a choice of two tables:
Table 1 is a typical SD Crapjack table: $5 min, SD, 6:5, H17, NoDAS, 50% pen, 7 players. Table 2 is a good LV Strip game: $25 min, 6D, S17, DAS, LS, 5/6 pen, also with 7 players. Given that our ploppy will flat-bet the table min for an hour and use perfect B.S., which table will provide him with the most "bang for his hectobuck"?
Now as CC, we look at the WR and say, as you correctly did, that Table 2 has the higher (in this case, less-negative) WR, a statement that is borne out by the two sims I just ran: his EV for Table 1 is a dismal -$8.43/hour (actually, per 100 rounds), while his EV for Table 2 is -$6.47/hour (again, actually per 100 rounds). From an EV p.o.v. as well, Table 1 is inferior to Table 2: -1.686% vs. -0.259%.
Now, though, let's consider the ploppy's RoR for his hour's "gaming". The SD for each of the tables is remarkable similar in terms of units per hour: 11.26 for Table 1; 11.35 for Table 2. However, the unit for Table 1 is only $5, while that for Table 2 is $25: thus, the SD is more than 5 times as high for Table 2 than for Table 1 in terms of $/hr. If we plug these numbers into Norm's "trip ruin" calculator (no goal, but a 100-round time constraint), we find that our ploppy's RoR for Table 1 is 9.8% (BR=20, WR/100 = -1.6863, SD/100 = 11.2553, Hands=100), while for Table 2 it's an appalling 73.0% (BR=4, WR/100 = -0.2586, SD/100 = 11.3535, Hands=100).
Thus, our ploppy will "survive" 9 times out of 10 at the crappy Table 1, but only 1 time out of 4 at the good Table 2.
Now I'm in no way advocating that WE should all run out and play crapjack: I'm merely pointing out that others may have differing utilities. While we're in it to make money, they're in it to play.
Just my 2 cents!
Dog Hand