3 ms·
> Negative expected value Yes. Also briefly addressed in the post. The simulation already comes close to the calculated value. print 10 * 10000 * (18 / 37 -
by chkas 5y ago
> Negative expected value
Yes. Also briefly addressed in the post.
The simulation already comes close to the calculated value.
print 10 * 10000 * (18 / 37 - 19 / 37)
> Bankroll management and risk of ruin
No. The loss results purely from the EV (in roulette -0.027) . And that is my total bet * -0.027. No matter if Bezos is playing or I am.
- jstx1 5y agoYou ignored the rest of the comment where I explained why EV isn't the only thing that matters. In a hypothetical neutral EV casino people will still lose money. > The loss results purely from the EV This is true for a single spin, it is not true for a sequence where once you run out of money, you stop playing.
- chkas 5y agoI also read the rest. You wrote that this is the main reason people lose at the casino. This hypothetical casino does not exist, and if it did, it would eventually go bankrupt (costs aside) because the players have more money in total. > > The loss results purely from the EV > This is true for a single spin, it is not true for a sequence where once you run out of money, you stop playing. If you have to stop gambling because you lost your million dollars, you didn't lose because you don't have any more money. You couldn't turn it around with another 100 million either (in a non-hypothetical casino).