21–30 of 170 posts
Blackjack has been a source of success for me though I'm unconventional in my betting strategy which seems to enrage the other players even when I break the dealer consistently.
Of course you should always back yourself. So more power to you if you're winning in this way. At least you get to keep playing :)
If you want to really know why you shouldn't gamble (for profit... gambling for fun, with discipline, can be satisfying), read this quintessential book: Scarne’s Complete Guide to Gambling What you will probably take away from this book is that the house wins when you win. And the reason they win is that they don't pay actual odds. Take the roulette wheel as a simple example. There are 37 (or 38 in the case of 0 and…
There is a pinball museum off the strip in Vegas. Played until my wrists ached on $5.
If you want to really know why you shouldn't gamble (for profit... gambling for fun, with discipline, can be satisfying), read this quintessential book: Scarne’s Complete Guide to Gambling What you will probably take away from this book is that the house wins when you win. And the reason they win is that they don't pay actual odds. Take the roulette wheel as a simple example. There are 37 (or 38 in the case of 0 and…
It's more complicated (worse) than this. That the house has a small edge only tells a small part of the story. When people go to vegas for a weekend, they might have a number in their head they are willing to gamble. If they dont, then that number is their bank account balance. Then they start flipping coins, and often they keep doing this until they go bust. They rarely cash out when up but they always lose when the…
Yes, you can at times win and come out ahead. But on the whole, you will lose. My father's advice has always been: "Son, treat it as entertaiment and spend only what you can afford to lose like every other form of entertainment. If you think you can win, you be the fool and will lose more than you can afford." I have also found that gambling institutions are so depressing a venue to be in.
If you want to really know why you shouldn't gamble (for profit... gambling for fun, with discipline, can be satisfying), read this quintessential book: Scarne’s Complete Guide to Gambling What you will probably take away from this book is that the house wins when you win. And the reason they win is that they don't pay actual odds. Take the roulette wheel as a simple example. There are 37 (or 38 in the case of 0 and…
From what I've read, casinos are perfectly happy to let you count cards in blackjack. The advantage you get is so small, that even a few mistakes per hour means you'll lose a bunch of money. It's only if you count cards and win that you get kicked out.
It's not that the advantage is small (if it were, the MIT team would never have been so successful in the first place). It's that most people who try aren't good enough to do it well, so the casino is happy to let them try (and fail), thereby making money for the casino.
It's more complicated (worse) than this. That the house has a small edge only tells a small part of the story. When people go to vegas for a weekend, they might have a number in their head they are willing to gamble. If they dont, then that number is their bank account balance. Then they start flipping coins, and often they keep doing this until they go bust. They rarely cash out when up but they always lose when the…
"Flipping a coin until you get enough tails in a row" is a really good way to describe long term gambling, though. I'm gonna borrow that.
This article should be down-voted, the only reason it isn't is due to the clickbaity nature of discussing casino games. It's a terrible initial introduction to Monte Carlo simulations, he doesn't even discuss the possibility of seeing the distributions of the results of the games he proposes, which is essentially the most valuable reason to perform a Monte Carlo simulation.
Similar conclusion, once u win enough, you leave; once you lose enough, you leave. Never bring your whole bank account to a casino, or the figures will be move closer to 0.