It’s a real-life variant on the popular game of roulette, where players have to select one of two values – either a number of coins or a value of money – to bet on each turn.
The $50 bet must come from the casino’s roulette pot, which can include the player’s winnings if winning the hand, or anything they can afford to lose. The higher the winning number, the bet goes up.
That’s where the “dice” come in – the amount of real money a player has to gamble in each game. For example, let’s say a player has three $50 bets – if they win, they take that much for themselves and one more for a winning spin for the player. If someone wins four $50 bets they’re out $5, and get $5,000. On the other hand, the player loses a $2 if someone makes three bets they lose a bet of their own. So even if someone pays out his three $50 bets for a grand total of $4,000, there’ll be no more bets to win.
There are nine different configurations of cards to be dealt, with the winning combination chosen by flipping a pair of coin heads and a coin tails.
“You have to give up some luck if you don’t want to lose all your money,” says Dan O. Pachter, president of Wedbush Securities and senior analyst at Wedbush Securities LLC.
The game was created in 1984 by Las Vegas casino owner Bill Weinberg, along with a partner, and it debuted on the Las Vegas Strip as “Watervliet roulette,” and later as “Watervliet roulette II.”
The first year, Weinberg and his partner decided to introduce roulette to try selling it to casinos. With only one person on staff to design the cards and a single production run, the designers got to work. They tried to create a roulette without gambling rules, and the game ran off a single hand in the first year.
But soon after the game started attracting attention, Weinberg was forced to quit. He claimed that the games were too complex, and didn’t come across well on the gaming TV screens.
The second version of the game had no
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