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  #21  
Old 24.10.2011, 17:29
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Re: Gambling

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But you are gambling on it paying out... it might not...
that's a bit of a stretch. kinda like saying: "you're gambling when you buy some food, because you don't know if it will be rotten".
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  #22  
Old 26.06.2017, 16:42
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Re: Gambling

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.... By the way, what are you think about online casinos? Yesterday i find one - [spam deleted] and don't even know what to do. Perhaps, it's better then regular casino, no?
The same rules apply to online as in real-life, because they don't have to be rigged in any way. The house always makes money even if they have a temporary run: simple math probabilities makes it so.

Example: the "0" on a roulette ensures that the house has a 5.38% tax on every bet. In other words, the average return is 94.62% to players. Lotteries are worse. etc.

So gambling (without an element of randomness such as poker, or zero sum games like poker) is a tax on the mathematically challenged.

However, gambling is addictive and humans are irrational meat sacks.
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Last edited by 22 yards; 26.06.2017 at 17:12. Reason: Deleted spam link to an online casino
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  #23  
Old 26.06.2017, 17:12
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Re: Gambling

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The same rules apply to online as in real-life, because they don't have to be rigged in any way. The house always makes money even if they have a temporary run: simple math probabilities makes it so.

Example: the "0" on a roulette ensures that the house has a 5.38% tax on every bet. In other words, the average return is 94.62% to players. Lotteries are worse. etc.

So gambling (without an element of randomness such as poker, or zero sum games like poker) is a tax on the mathematically challenged.

However, gambling is addictive and humans are irrational meat sacks.
I don't dispute the general concept, but the maths are a bit off. In single-zero roulette, there's a 1-in-37, or 2.703%, chance that zero will come up. The "house tax" (house edge) is 2.703% on all bets.

In American roulette, with a zero and (oh fun! ) a double zero as well (I can't count the number of people who have expressed joy to me at the prospect of playing roulette with not one, but TWO chances to increase their loss each spin!), the chance of dropping into 0 or 00 is 5.263%; still not quite the quoted 5.38%.

If you REALLY love throwing your money away, you can play American roulette and bet consistently on the 0-00-1-2-3 combination. That gives the house an edge of 7.89%.

Solution: play blackjack, but even then, you need to know what you're doing and choose your casino carefully.
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Old 26.06.2017, 17:15
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Re: Gambling

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I don't dispute the general concept, but the maths are a bit off. In single-zero roulette, there's a 1-in-37, or 2.703%, chance that zero will come up. The "house tax" (house edge) is 2.703% on all bets.

In American roulette, with a zero and (oh fun! ) a double zero as well (I can't count the number of people who have expressed joy to me at the prospect of playing roulette with not one, but TWO chances to increase their loss each spin!), the chance of dropping into 0 or 00 is 5.263%; still not quite the quoted 5.38%.

If you REALLY love throwing your money away, you can play American roulette and bet consistently on the 0-00-1-2-3 combination. That gives the house an edge of 7.89%.

Solution: play blackjack, but even then, you need to know what you're doing and choose your casino carefully.
I failed at using a calculator to work out 100 divided by 37. Oops.
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Old 26.06.2017, 17:19
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Re: Gambling

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I failed at using a calculator to work out 100 divided by 37. Oops.
That was a gamble then
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  #26  
Old 26.06.2017, 17:23
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Re: Gambling

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I failed at using a calculator to work out 100 divided by 37. Oops.
Best to stay away from casinos, then, unless you can do Rainman card-counting tricks, in which case I have a great idea for a night out. With me.
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  #27  
Old 26.06.2017, 18:18
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Re: Gambling

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I failed at using a calculator to work out 100 divided by 37. Oops.
So... your username isn't a typo of "rpn"?
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