Bailouts Ruining CtC Scam

[Gregg]

I'll take the contra view and point out that your odds of getting room and board comped is about the same either way, but yuo'll get a longer stay with the CTC method.

[Mr. Mephistopheles]

I remember this website I read that had all this information written out, it was pretty cool, anyone remember the website. It even had this great story about a Keno Junket!

Hmm, that does sound familiar. Ah yes, it's this website. http://www.quatloos.com/quatloosia-goodlife/keno.htm

[Burzmali]

Obviously, I need to add more smilies

[RyanMcC]

Who no doubt think that they have a sure-fire system that can beat a game that has a 25-30% house edge. Of course, when it doesn't work out they complain that the game is rigged.

I do actually, it's called a matchplay coupon. They basically double your bet on Craps, Blackjack or Roulette (bet $5 - Win $20 on an even money bet). Quite inefficient and only for low-rollers who can do alot of walking, but they can give you an advantage over the house even on a lousy game. You can find matchplay coupons in funbooks offered by many Vegas casinos and even sometimes buy them off ebay.

Hmm, that does sound familiar. Ah yes, it's this website. http://www.quatloos.com/quatloosia-goodlife/keno.htm

That was the first page I ever visited on this site years ago, stumbled upon it by accident. My favorite site back then was wizardofodds.com which was started by an actuary who used to work for the Social Security Administration.

--

CTC is similar to a slot machine in a few ways:

1) After a "victory" you end up getting screwed by the IRS.
2) Watching CTCers or a slot machine, you end up seeing alot of fruits and spinning wheels.
3) Both are closely monitored by the government.
4) Both are fueled by people delusional enough to think they will come out ahead in the end.
5) Slot machines are dependent on a poor knowledge of math, CTC is dependent upon a poor knowledge of law.

[Nikki]

A major difference is that organized crime has (so far) exhibited absolutely no interest in CtC or any other aspect of the TP movement.

In all likelihood, that is because the risk/return ratio is well below their guidelines.

[grixit]

Some years ago, there was a regular on the old FidoNet Science forum who claimed to have a surefire method to win at craps. It involved a set of side bets that sort of balanced each other out. And actually, it did seem to give the player an advantage in the long run-- if you accepted his assumption that you never crap out on the first roll. A lot of futile keystrokes were expended trying to explain to him why this was a flaw in the theory.

[RyanMcC]

A slot machine doesn't lose in court and get sanctioned on appeal.

Not only that, the Big Six Wheel can win a case in court:

The defendant in rem , Big Six Wheel, is a gambling device on board the Liberty I , a seagoing vessel owned and operated by Bay Casino, LLC. Bay Casino operates gambling cruises (cruises-to-nowhere) that embark from Sheepshead Bay in Brooklyn, New York and proceed more than three--but less than twelve--nautical miles from the coastline of the United States, to a spot at which the ship operates as a casino until the return voyage to Sheepshead Bay.

<snip>

For purposes of the Gambling Ship Act, until Congress says otherwise, the "territorial waters" extend three nautical miles from the U.S. coastline.

CONCLUSION

For the aforementioned reasons, we affirm the district court's dismissal of the civil forfeiture action.

United States v. One Big Six Wheel, 166 F.3d 498 (2d Cir. 1999)

[ClobberroTestii]

I'll take the contra view and point out that your odds of getting room and board comped is about the same either way, but yuo'll get a longer stay with the CTC method.

Different bus to the "casino" too!

[Imalawman]

If someone loses at slots, they don't accuse the high rollers winning big at craps of being losers and sheeple.

Any word on Hendrickson's upcoming demise?