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Every bet on the crap layout has a negative expectation.” Not only can a hedge betting system NOT beat a game like craps, but it also won’t even dent the house edge. Every bet on the crap layout has a negative expectation....

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In 1933, Wilson Mizner lay dying.“Hedging” your bet in craps is when you make one bet with the erroneous belief it will “protect” another wager somewhere else on the layout. The logic here is analogous to diversifying your investment portfolio by buying bonds to “protect” against losses that you might experience in the stock market....

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