4 ms·
Has anyone tried gambler's ruin in real life? Theoretically, you have the best odds of doubling your money if you put all your money down on one hand. Given mo
by capkutay 12y ago
Has anyone tried gambler's ruin in real life? Theoretically, you have the best odds of doubling your money if you put all your money down on one hand.
Given most casino games, your odds of winning a single game is less than 50%. So lets say you encounter the best case; your odds of winning are 49%. Even then, for every game you play, you are more likely to lose money.
Probability of winning = .49
N = number of times you play
.49^N will become a smaller number as N gets bigger.
http://en.wikipedia.org/wiki/Gambler's_ruin http://en.wikipedia.org/wiki/Gambler's_ruin
- DanBC 12y agoThis is described in "the Newtonion Casino" (an amazing book about a bunch of people who build 8080 computers into their shoes to beat roulette wheels). Roulette is rigged in such a way that the best strategy is to not play. But, after that, you take all the money you would ever play on roulette and put it on a single number. They talk about some of the other systems. They also talk about the skill of the croupiers to throw the ball such tha they can predict roughly (enough to beat the odds) where it'll land.