Free Bet Blackjack – The Casino Table Game Where the Dealer Actually Gives You Free Bets
The rules for Free Bet Blackjack are played like the traditional version except for the two variations listed below. The casino uses six decks of cards, the dealer hits soft seventeen, (hand containing an ace +6) a player blackjack pays 3/2, re-split certain pairs up to four hands, and double after splitting is allowed. Here are the two variations:
Variation One
Double Down Rule – A player may double down on hard totals (hands with no ace) of 11, 10, or 9 only. Doubling on other hands is permitted however by doing so the player will not receive the free bet wager offered by the casino.
After a player makes the allowable double down wager, the house then gives the player a free double wager by matching the player’s original bet with a free bet button. If the dealer wins the player only loses his or her original wager. If the hand is a push, the player keeps the original wager only. If the player wins, he or she keeps the original wager plus winnings equal to double that wager.
Variation Two
Pair Splitting – A player may split any pair except 4′s or 10′s up to four times. The player receives one free split wager each time, where the player’s split cards are divided into two one card hands. The player’s original wager is placed on the first card and the second card receives the free bet button. Doubling after splitting is allowed. If the player so chooses to double after the split he or she will also receive a free double wager. For the winning hands, each free bet button is replaced with real chips. For a player loss or push, the house takes back the free bet button(s).
You may wonder why all this generosity? Instead of the dealer busting with a total of 22, where the house would pay winnings to all remaining hands, 22 becomes a push. Therefore, all remaining player hands also push.
Optional Side Wager
Push 22 Side Bet – This is an optional wager where a player may bet that the dealer will push with a total of 22. If the player wins, ascending payouts are made depending on the cards. Here is the pay table:
Suited Dealer 22 – Pays 50 to 1
Same Color 22 – Pays 20 to 1
Any other 22 – Pays 8 to 1
The house edge for Free Bet Blackjack is about 1.0% without placing a Push 22 side wager, but jumps to almost 6% if the option is made.
Strategy for this game is simple. Besides exercising basic strategy, take advantage of every opportunity to free split and free double.
Craps Proposition Bets: Here Are Eight Wagers to Avoid When Playing This Table Game
Look at any craps table and you’ll see numerous wagers where some appear to have hefty payouts. These are One Roll wagers. None of them pay off in true odds. These bets should be avoided because they can deplete your bankroll very quickly.
Seasoned players know there are thirty-six possible combinations that can be made with a pair of dice, each with numbers one through six. For example, the number 7 can be rolled six ways, such as: 6 and 1; 1 and 6; 5 and 2; 2 and 5; 4 and 3; 3 and 4. The numbers 6 and 8, five ways; numbers 5 and 9, four ways; numbers 4 and 10, three ways; 3 and 11, two ways; and the 2 and 12, one way.
With the aforementioned in mind, here are the bets that you should avoid and why, when playing:
The Field
This is a one roll wager where the player wins if a 2, 3, 4, 9, 10, 11 or 12 appear and loses if a 5, 6, 7 or 8 appear. Payouts are even money except for the 2 or 12 which pay 2/1. A novice player would look at the field and think, “There are seven numbers to win with and only four to lose.” However, if you combine all the ways the winning numbers can be rolled they will total 16. The losing numbers combinations total 20. Thus, winning numbers can appear 45% of the time but the losers come forth at 55%. The house edge is about 6%.
Any Craps
Another one roll wager that pays 7/1 if a two, three, or twelve is rolled. Add them all up and the true odds are 9/1 against. The house edge is about 11%.
Any Seven
The worst one roll wager for the player. The odds are 6/1 against and the payout is only 4/1. If you really want to make this bet, my advice to you is, don’t. The house edge is about 17%.
Hardway Bets
These are the even number totals of 4, 6, 8, and 10. In our Monopoly days we knew them as doubles. Two 2′s = 4, etc. In the world of craps these are known as Hardways. When a player elects to make a Hardway wager he or she is betting that particular number will only appear as an even number total, for example, a hard eight as 4 and 4. All of the other four combinations that make up the eight now become losers. The Hardway bettors now lose when a seven or any eight other than the 4 and 4 appear. The odds are 10/1 against but the payout is only 9/1. The house edge for a hard 4 or 10 is about 11%, and hard 6 or 8, about 9%.
Horn Bet
A one roll wager betting that a 2, 3, 11, or 12 will emerge. The bet must be made in multiples of four units. You will be paid 30/1 for the 2 or 12, or 15/1 for the 3 or 11, minus your three losing wagers. These numbers only have a 1/6 chance of showing up. You can also bet these numbers individually. Your best bet is no bet. The house edge is about 12.5%.
C & E (Craps and Eleven)
The C&E bet is actually a combination of the any craps (2,3,12) bet, or the 11 (AKA Yo) bet. Basically, when you bet on C and E, you are wagering that the shooter will roll any craps numbers (2, 3, or 12) or 11. If you hit any one of these numbers, you win the bet.
There’s a 1 in 6 chance that the C and E bet will hit. The payouts are different for each part of the bet. If the crap numbers come up it pays 3/1. If an 11 is rolled, 7/1. the total overall house edge is 11%.
Fire Bet
Not all casinos offer this wager. The bettor(s) win if the shooter makes at least four different point numbers before a seven out is rolled. Only different point numbers count. The pay tables range from a 10/1 payout for one point made four times up to 2000/1 If all six point numbers are made four times each before a seven out. In this unlikely event the house edge is a whopping 25%!
Hop Bet
This is a one roll verbal bet that is rarely played because most bettors are unaware of it. A player may wager that the dice will hop to a certain combination on the next roll. For example: if you have a hunch that an 8 will be rolled as a 6 and 2, simply shout to the dealer, “Five dollars on hop eight as six and two”. If it happens you will be paid 15/1. You may also call out a Hardway, “Hop eight at four and four”. If you’re lucky, you win 30/1. Any callout is permitted. All payouts are the same. This is a typical sucker bet. Depending on the hop combo called out, the house edge can range from about 5% to 12%.
Your best bet is to stick to the line wagers, pass, don’t pass, come, don’t come with the odds bet(s) and the place numbers 6 and 8.
Good Luck!
Supply Chain Management – an Introduction
The principle of ‘Survival of the fittest’ remains valid in the present global economy characterized by the presence of ever changing business environment. Every modern company needs to struggle for the existence & growth under such a competitive environment. One surest way to achieve this is to offer best quality of product at reasonable rate, which suits well to the requirements of target customer. To impart a feeling of delight in the minds of consumers and provide quality product at reasonable price manufacturer has to bring shift in his emphasis from mere cost ascertainment to cost reduction to reduce cost of production. Thus, cost reduction is the main managerial mantra as once quoted by well-known strategist Michael.E.Porter in his landmark book “Competitive Strategy”. There are number of strategic cost management techniques available like Supply Chain Management (SCM) , Business Process Re-engineering (Value Re-engineering), Total Productive Maintenance to reduce cost. Of these Supply Chain Management is prominent tool to reduce cost. In this backdrop the present paper aims to highlight the conceptual framework of SCM, Modus Operandi and its relevance for corporate world in the new millennium.Supply Chain Management has become a very powerful technique as it increases the responsiveness to the changing business conditions and enhances the competitiveness of the organization. In today’s intense competition, and increasingly global economy, to survive and grow, organization must enhance their market responsiveness and become cost competitive. The supply Chain framework is a method of breaking down the linked set of value creating activities from basic raw material/component supplier to the supply of the end product to customer/consumer.A supply chain is a business process that links manufacturers, retailers, customers and suppliers in the form of a chain to, develop and deliver products as a single virtual organization of pooled skills and resources. Supply chain management is process of synchronizing the flow of physical goods and associated information from the production line of low level component suppliers to the end consumer, resulting in the provision of early notice of demand fluctuations and synchronization of business processes among all the co-operating organizations in this supply chain.Definition:Definitions from well-respected references have varied during the past decade. For example, Supply Chain Yearbook 2000 described SCM as, “A chain of processes that facilitates business activities between trading partners, from the purchase of raw goods and materials for manufacturing to delivery of a finished product to an end user.” APICS-The Performance Advantage, offered this definition in January 1999: “The global network used to deliver products and services from raw materials to end customers through an engineered flow of information, physical distribution and cash.”This is a little change from the 1997 definition, Logistics Management offered, describing SCM as, “The delivery of enhanced customer and economic value through synchronized management of the flow of physical goods and associated information from sourcing to consumption.” The definition evolution continues as European Logistics Association, in 1995 suggested SCM was, “The organization, planning, control and execution of the goods flow from development and purchasing through production and distribution to the final customer in order to satisfy the requirements of the market at minimum cost and minimum capital use.”One of the first to pinpoint an accurate description of SCM, International Journal of Logistics Management, in 1990, called it, “An integrative philosophy to manage the total flow of a distribution channel from the supplier to the ultimate user.”Several themes appear consistent among most definitions of SCM:o The scope extends from sources of supply to final customerso In addition to products and services, information and financial flows are includedo The objective is to satisfy customer demand at the lowest possible costo A global and integrative approach is needed to manage the processCost Reduction & SCMThere are number of cost reduction techniques available for management to reduce cost which ranges from Man Power Reduction , Strict supervision , compromise with quality , Overtime work etc . But cost reduction at the cost of quality is mere waste strategy. SCM aims at cost reduction without affecting quality. SCM strategy is to reduce cost by eliminating all non value added activities in the flow of goods from Raw material supplier to End consumer. The Objective of SCM is to increase the competitive advantage of the channel as a whole. The means to accomplish this objective is through creating customer value superior to the competitot’s value offering and ,thus, to enhance customer satisfaction , either through improving efficiency (lower cost) or effectiveness (added values at the same cost).Decisions in supply chain management:1Decisions for supply chain management can be classified into two broad categories – strategic and operational. As the term implies, strategic decisions are made typically over a longer time horizon. These are closely linked to the corporate strategy and guide supply chain policies from a design perspective. On the other hand, operational decisions are short term, and focus on activities over a day-today basis. The effort in these types of decisions is to effectively and efficiently manage the product flow in the ” strategically” planned supply chain.Four major decision areas on supply chain management are:(1) Location(2) Production(3) Inventory(4) Transportation (distribution)And there are both strategic and operational elements in each of these decision areas.Location decisions: The geographic placement of production facilities, stocking points, and sourcing points is the natural first step in creating a supply chain. The location of facilities involves a commitment of resources to a long-term plan. Once the size, number, and location of these are determined, so are the possible paths by which the product flows through to the final customer. Although location decisions are primarily strategic, they also have implications on an operational level.Production decisions: The strategic decisions include what product to produce, and which plant to produce them in, allocation of suppliers to plants, plants to Distribution Channel’s(DC), and DC’s to customers markets. These decisions have a big impact on the revenues, costs and customers service level of the firm. These decisions include the construction of the master production schedules, scheduling production on machines, and equipment maintenance. Other considerations include workload balancing, and quality control measures at a production facility.Inventory decisions: These refer to means by which inventories are managed. Inventories exist at every stage of the supply chain as either raw material, semi-finished or finished goods. They can also be in process between Locations. Their primary purpose to buffer against any uncertainty that might exist in the supply chain. Since holding of inventories can cost anywhere between 20 to 40 percent of their value, their efficient management is critical in supply chain operations. It is strategic in the sense that top management sets goals.Transport decisions: The mode choice aspect of these decisions are the more strategic ones. These are closely linked to the inventory decisions, since the best choice of mode is often found by trading-off the cost of using the particular mode of transport with the indirect cost of inventory associated with that mode. Customer service levels, and geographic location play vital roles in such decisions. Since transportation is more than 30 percent of the logistics costs, operating efficiently makes good economic sense. Shipment sizes (consolidated bulk shipments versus Lot-for-Lot), routing and scheduling of equipment are key in effective management of the firm’s transport strategy.Why Supply Chain.The importance and need of SCM will increase in the future. Customers will demand faster, timelier delivery of orders. Manufacturing will expect greater knowledge of order requirements to better plan its operations and procurement processes. Similar expectations apply to external entities. This need for increased coordination among customers, suppliers and service providers dictates greater visibility and collaboration throughout the supply chain.Dynamic business environment characterized with Time-based competition, Synchronization with other corporate functions, Service customized to specific markets and customers, Increased consolidation of suppliers and service providers, Further privatization and deregulation, Continued emphasis on outsourcing, Development of performance measures encompassing supply chain partners, Increased collaboration between supply chain partners, and Electronic commerce to enable communications throughout the supply chain will increase the need of of supply chain.Evolution of Supply Chain Management:Span of ResponsibilityEarlier: The components of SCM traditionally were viewed as “functional silos” and typically included outbound transport-tation (i.e., customer delivery); field warehousing and finished goods inventory management.Present: Today’s SCM executive generally has a much broader range of responsibilities. that the majority of these executives have respon-sibility for transportation, ware-housing, inventory management , customer service , purchasing / sourcing, demand planning, production planning/scheduling and international logistics.2.Organizational Position:Earlier: SCM traditionally was viewed as a cost center, adding little or no tangible value to bottom line results. Individuals responsible for SCM were typically at the manager level, reporting to directors or vice presidents responsible for operations, marketing or other functional areas.Present: SCM executives are now well positioned. Executives in charge of marketing / sales, manufacturing and other departments are now generally peers rather than reporting officials. In recent survey it is observed that In U.S. companies, 52 percent of SCM executives report to an Executive Vice President or COO/CEO. In Asia, this percentage was slightly lower (48 percent); in Europe this percentage was only 31 percent.3. Education and TrainingEarlier: Historically, relatively few universities offered SCM education. In these institutions, the academicians who taught SCM coursework were usually housed within a larger department, e.g., Operations or Marketing. Some schools offered continuing education and seminars in SCM, but these forums generally focused on a specific aspect of SCM, such as carrier negotiations, inventory management techniques, warehousing and material handling systems and international tradePresent: Today, there are numerous, well-recognized universities–in the U.S. and abroad–offering degrees at all levels in the field of SCM. A recent CLM listing identified nearly 50 institutions with SCM-related curricula. Continuing education seminars and workshops with SCM themes abound.4. Contributions to Corporate PerformanceEarlier: Historically viewed as a cost center, SCM contributions at the corporate level were judged to be minimal. Since reporting systems focused on managing operational-level activities, any strategic value associated with SCM was difficult to quantify.Present: Leading-edge manufacturers report SCM costs between 4 percent and 5 percent of sales, compared to the industry average of 7 percent to 10 percent Successful SCM can improve delivery performance by 25%, reduce inventory levels by as much as one-half and enhance overall productivity by at least 15 percent.To conclude, In this dynamic market place, the equations are kept changing very fast with the leaders of yesterday being displaced by the fast-paced and agile new entrants. Intense competition, demanding customers, shrinking product life cycles, rapid advances in technology- all these factors are fast changing the competitive dynamics in global environment. This volatile business environment is making it harder than ever for marketers compete effectively. The traditional approaches are too slow to keep pace with the evolving global complexity. These developments are putting pressure on business community to look at the each and every components of business like procurement, logistics, marketing etc. Effective linking of functions of these processes puts companies in strategic position. Every link in SCM can add up to a competitive advantage. Time was when companies looked at their supply chains as a means of focusing on their own core competencies, of leveraging those of vendors, of lowering their costs, and of becoming more responsive to customers. Those goals won’t be swept away by the supply chain in the new millennium. But they will be superseded by a singly super-objective: competing on the basis of how well companies’ manage their supply-chain.References:1 An Introduction to Supply Chain Management by Ram Ganeshan and Terry P Harrison accessed at http://lcm.csa.iisc.ernet.in/scm/supply_chain_intro.html