Blackjack and other near 50/50 games - Page 3

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TheKefka

Croatia11752 Posts

August 18 2012 01:46 GMT

#41

On August 18 2012 10:43 r.Evo wrote:

Show nested quote +

Well, you play versus other people and not against the house. In fact, the more you play the better you are for the house (assuming you don't drive other customers away). If you can beat the players harder than the rake beats you, you make a profit. Also the house has no interest of getting rid of you if you are winning.
.

Pretty much this,poker is the only game as far as I know in which the house actually has interest in someone else winning other than them.

hp.Shell

United States2527 Posts

August 18 2012 02:26 GMT

#42

The only way to win at blackjack is to count cards and bet big when the odds are in your favor. See Rain Man, The Hangover, 21, et al.

xNSwarm

155 Posts

August 18 2012 02:36 GMT

#43

Here's the edge of the spectrum. Say you bring $100,000 to potentially bet on insuring you make $100 every day, and the casino happens to have a $100,000 max bet on a 50/50 odds game. You are essentially looking at 36.5% interest with a very large risk involved. Such a large risk that for every 3 people that make their 36.5k over the course of a year, 1 person loses all of their $100,000. And this is all assuming 50/50 odds, which is rather unrealistic. Natural intuition may lead people to simply want to try this for say, 10 days. Easy $1,000! Well, you now have 1 out of a 100 chance of losing 100k, and while your chance of losing 100k has shrunk from 1/3 to 1/100, your potential winnings have also shrunk respectively. Doing this tactic on anything less then 50/50 odds is basically saying, "lets put $100,000 up to chance! We are putting $100,000 into a negative average interest plan, but lets do it anyway!"

Loanshark

China3094 Posts

August 18 2012 03:03 GMT

#44

I'm not sure if this has been posted, but I think craps is one of the games where the house has the smallest advantage.

Here's a few lists I found online.
http://www.fastodds.com/game_odds/
http://www.insidervlv.com/casinoodds.html

Toasterbaked

United States160 Posts

August 18 2012 04:06 GMT

#45

On August 18 2012 10:12 FullNatural wrote:
I wonder what those odds of losing 10 in a row are with my example in the OP. As in when it would happen. As far as a long term strategy my example in the OP does not seem valid. However, I wonder if there are more complex systems out there. I'm sure there are people in the world making money off stuff like this.

The odds of losing 10 in a row is 2^10, which is 1/1024.
The amount you will lose if such thing happens is 102400$.
Essentially, it's like betting 102400$ for a 1023/1024 chance you will win.

There really aren't ways to twist stuff like this around :/
Most of them, like this, are fallacies

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