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Casinos Get Greedy 4/13/2004 (Jeff Hwang, Motley Fool) In You Say Gambling, I Say Gaming, we discussed how the gaming industry has evolved. Today, casinos tend to market themselves as entertainment, rather than strictly to "losers." Unfortunately, some casinos still treat their guests like suckers. On April 1, over three months after federal agents raided and shut down Binion's Horseshoe in downtown Las Vegas, Harrah's Entertainment reopened the casino to fanfare on behalf of former TMF Select (now Motley Fool Hidden Gems) pick MTR Gaming. In keeping with the Horseshoe tradition, the casino maintained the popular single-deck blackjack games -- sort of. The problem If you've been to Las Vegas in the past few years, you may have noticed signs from casinos proclaiming that "single deck" blackjack is back by popular demand. But in virtually every case, the game brought back is not the game in demand at all. In the new single-deck version, a player blackjack now pays 6:5 rather than the usual 3:2. In other words, if you bet $10, make blackjack, and win, you get only $12, not $15. Thus, where the house edge against the perfect basic strategy player in the typical single-deck game is a paltry 0.15%, the house edge is now 1.45% -- about three times that of a six-deck game.  Full Story
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