Thread: Re: Can$ 35 profit in the nick of time!
I play at the French roulette (which here in Quebec is called the English roulette), so that the house edge is half of that (2.7% to be more precise) Yes, I cannot figure out why someone felt the need to add another 0 space to a game that is already difficult to win, even in the short term. 2.7% doesn’t seem like much, but when you consider that they make 2.7% of every dollar on the table on each spin, it certainly adds up. …And the house edge being 2.7%, we’re really talking about Can$ 5.40 for my fix. Now you tell me which other entertainment costs as little as this. Agreed, but keep in mind that your assessment would only be true if you played C$200 exactly. Keep in mind that while you may bring C$200 to the table, you may actually be playing C$1000 worth of chips over the course of an evening, as more chips are won and your amount of cash fluctuates. With an expected loss of -2.7% on each spin, you can see why it is easy to drop $200 quite fast since -2.7% of $1000 is $27. If playing with two “0″ spaces, expected loss would be $52.60. And that is just an expected loss figure. Imagine if you were unlucky in the short run how fast your money would melt away. Since roulette bets are an “all-or-nothing” proposal (i.e. you either win the bet, or lose the whole thing), it wouldn’t take much bad luck to ruin an evening. What other games do you play? I try not to play any game where I don’t receive at least what my risk is worth. “But,” you might say, “there are no games in the casino that offer those types of odds”. Ah, but there are if you look closely enough! I enjoy Blackjack, and I’ve learned how to count cards effectively. This pushes my winning chance up to about 51-53% over the long term. It doesn’t guarantee a win each time I’m there, but in the long run I take the casino for more than they get from me. 1-3% adds up over the course of thousands of hands of blackjack. And card counting isn’t cheating either, so I don’t feel badly about it. I also enjoy Craps, but I don’t play center bets or other sucker bets (dont even get me started on the “Big 6″ or “Big 8″ bets… yeesh!). Betting behind the pass line is one of the only places in the casino where you get true odds, meaning you get exactly what your risk is worth. There is the issue of the ante that is paid at only 1:1, but this is negated on tables with fair odds allowances. In Canada, the typical allowance is only 2-5 times the ante bet, meaning a steady .5-2% advantage for the house, but this is why I don’t play Craps in Canada. In Vegas you can get 10 times odds on most tables and 100 times odds on a few. This effectively negates the house advantage (its a really low number like .00005, but I don’t want to waste time calculating it). Well, I do keep track of the numbers that came up, but that’s just to choose which numbers to play next. Yes, I know that this would only be valuable if we were talking millions of turns and not just a few, but still, it beats randomly choosing. I hate to disagree here, but I must. In the short run (the time you are at the casino) there is no use in recording the numbers that are spun. The event of each spin is indepedant from the previous ones, and the law of averages is only able to kick in over the long run (the long run being an indeterminate amount of time, but definitely much longer than the few hours you are at a casino for). Try this experiment: Take a six-sided die and start rolling. Record the number of times each number is rolled until you have an identical amount of each number recorded. Just how long will that take? It certainly could happen on your first 6 rolls (the odds are only 1.542% that it will though). Then again, it could take several thousand rolls to make it work out evenly. Now imagine playing this game with a 37 or 38 sided die (the same number of spaces on a roulette wheel). How long would that take to even out? I don’t want to even begin to think just how long the “long run” is in this case, let alone try to calculate it. So what are the odds that in the 100 spins that you are sitting down at the table that the law of averages kicks in and we find a purpose for writing the numbers down? Astronomically low, much like recording the winning lottery numbers each week would be. And talking about life savings, have you heard about Ashley Revell? Yes, I’ve heard this story before. It is certainly true, but you notice that even though he bet all of his winnings on supposedly “one spin of the wheel” that he only walked away with double his money? The truth of the matter is that he’s done this stunt before, and has lost in the past. In this case he didn’t wager it all on one number like the Wikipedia claims. Rather, he made a series of large bets, ending up having one that paid off, at which point he wisely decided to walk away from the table. It’s a nice story, but there is a lot more information to it than just what the wikipedia provides. I can’t remember where I read the whole story previously, but I’ll wager (pardon the pun) that you can find the full thing by Googling it. Phew, all this gambling talk makes me want to go to the casino. Blackjack anyone? 
Casino Debt Negotiations End In Bankruptcy For Trump Entertainment
Trump Entertainment Resorts has been trying to restructure their debt for months and on Tuesday those efforts ended in New Jersey in a US Bankruptcy Court.
Tags:
Betting,
Blackjack,
Casino,
Craps,
Gambling,
Games,
Roulette
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