The coin flip game on this as an illustration of the gamblers ruin concept. It is the real reason casinos make so much money. People think they are taking off t

The coin flip game on this as an illustration of the gamblers ruin concept. It is the real reason casinos make so much money. People think they are taking off the small margin in the form of the house edge, but that is there really just to speed the process up a little bit, and to stop someone coming along with way more money than the casino and beating them at their own game. They are able to make huge profits by regularly taking all someone's money, or atleast all of what they are willing to risk.