In the movie, Wall Street, Michael Douglas' character defines ‘mixed emotions’ as, “Seeing your worst enemy drive off a cliff in YOUR brand-new Maserati”.
That’s how I feel about the next two tournament betting-methods that I’m going to share with you today. They can be stellar performers when they work, but they can also smell up the joint faster than a bunch of frat boys on a strict diet of draft beer, pickled eggs, and under-cooked chicken.
MP’s Mixed-Emotions Gambit
The reason I say that you’ll hate to win with either of them is because when they work, you’ll be tempted to use them for your real-world real-money plays when the tournament is over.
Although that may be an indication of how good these two betting-methods function when they do work; it is important to know right upfront that they can also wipe out even a well-funded bankroll faster than Courtney Love can clean out your medicine cabinet.
With that warning; here they are:
WOFTCO “Working-On-The-Come-Out” Strategy #1
Ø Approximately one-half of your bankroll is wagered on the Passline while the other half is Place-bet on either the 6 and 8, or the Inside-numbers (5, 6, 8, and 9), or the All-Across numbers (4, 5, 6, 8, 9, and 10).
Ø In any event, you “work” the Place-bets on the Come-Out. Although a C-O-7-winner will wipe out your Place-bets, any box-number that rolls will produce instant revenue.
Ø If a C-O 7 rolls, you simply take your PL-win payout and replace your WOTCO Place-bets. If a C-O 11 rolls; then you simply take those winnings and either rack them or you increase both your PL flat-bet and your Place-bets by 25% each.
Ø Once the new PL-Point is established, you can keep all your other Place-bets up if you want, while taking down the original Point-establishing Place-bet along with your newly minted WOTCO profit so you can use all of that money for PL-Odds.
Ø You now have to make same-bet/press/parlay decisions as to what you want to do with any additional Place-bet revenue that comes in during the point-cycle.
Bold moves usually bring either bold victories or bold defeats.
As I mentioned many times throughout this series, tournament betting requires bold and decisive actions at certain critical points during the competition.
Ø With that in mind, I usually do a “take one, spread one, parlay one” approach to any Place-bet or PL-Point revenue that comes in along the way.
Ø That means on the first post C-O hit on one of my Place-bets, I’ll rack the first payout, spread the second one evenly across all of my active Place-bets, and then parlay the third one that hits.
Ø On the fourth Place-bet hit, I start the “take one, spread one, parlay one” process all over again…and I only stop when my Place-bets have reached the table-max or the shooter 7’s-Out.
Ø If the shooter repeats the PL-Point, I look to see exactly what everyone else is doing in terms of their bets. During the early part of a tournament session however, I am most concerned about building up a substantial chip-lead over most everyone else at the table, so I focus on building revenue as quickly and aggressively as possible.
Ø Once I build up a substantial lead, I split my focus by not only concentrating on increasing my own chip-lead, but also by directing my attention to how close the stalking-pack is to me and what each of them are doing in terms of trying to catch me.
Now obviously, this is a VERY RISKY betting-method. Like I said, when it works, it’s almost impossible for fellow competitors to catch you; but when it doesn’t, your exit from the tournament is rather quick and ignominious.
WOFTCO “Working-On-The-Come-Out” Strategy #2
This method sees us wagering a little less than one-half of our starting bankroll on the Don’t Pass and the other half spread on the Inside-numbers (5, 6, 8, and 9) or Across-numbers (4, 5, 6, 8, 9, and 10) numbers with the exception of the DP-Point itself.
A practical example of this play with a $5000 tournament bankroll would see us wager $2000 on the DP and either $2200-Inside or $2600/$2700-Across (depending on the Point). You could use several hundred dollars to hedge against a Come-Out 7 DP-loser, but that is a high-erosion bet.
Ø With that in mind, I usually do the same “take one, spread one, parlay one” approach that I outlined above in WOTCO Strategy #1. That means on the first post C-O hit on one of my Place-bets, I’ll rack the first payout, spread the second one evenly across all of my active Place-bets, and then parlay the third one that hits.
Ø On the fourth Place-bet hit, I start the “take one, spread one, parlay one” process all over again…and I only stop when my Place-bets have reached the table-max or the shooter 7’s-Out. Obviously, just like WOTCO Strategy #1, this is also a VERY risky gambit.
Ø If the shooter repeats the PL-Point and my DP-wager loses, I have the option of taking some of my in-rack Place-bet winnings and wagering some or all of it on the Don’t Pass. Again and as always, I look to see exactly what everyone else is doing in terms of their bets, and then I decide which course of action to take.
As I mentioned earlier; the reason I say that you’ll hate to win with either of these betting-methods is because when they work, they work SO WELL that you might be tempted to use either of them for your own real-world real-money plays. In moderation (with a much lower percentage of your session buy-in); either of these WOTCO methods are okay, but if you are tempted to use a high ratio of your bankroll just because one of them worked like a charm in a tournament; don’t think for a second that it will hold up to sustained play when using your own money.
It is designed strictly for winning craps tournaments…PERIOD!
Good Luck & Good Skill at the Tables…and in Life.
The Mad Professor
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