$1000 reward to find exploits in my betting system challenges

Joeman: Yes, state lotteries have very poor odds. I found that using two of Dr. Bluskov's wheels in actual state lotteries could increase the player's expected return from 50% to 52%. Dr. Bluskov had not made this type of calculation himself, so I communicated my results to him and he was glad to receive them. He did not repeat my calculations so it is possible that I was in error.

Despite having a Ph. D. in mathematics, he plays the lottery himself. That is because he won a state lottery while a student in Bulgaria. I think it spurred his interest in mathematics and got him where is today: a professor of mathematics at the University of Vancouver and one of the world's experts in combinatorial theory.

A few years ago I delved into lottery theory and it resulted in a book "A Players' Guide to Lotto Strategies" in which I attempt to debunk nearly all of the literature on the subject. Dr. Bluskov's work was the only one I considered to have the slightest bit of value, but using his methods still falls far short of making a state lottery a favorable game.

Interesting read.

However, any document without a date is completely worthless. Who does that anyway?

There was a similar thing that happened in Louisiana I believe but could have been another state and a guy racked up 600k in markers at the horse races and casino over a 2-3 day period. Was from Florida if I remember right. Don't remember all the details but he filed bankruptcy immediately after and the markers were discharged via bankruptcy. If I recall correctly they had a 10-15 day grace period to repay them back and filed for bankruptcy almost immediately before the payback time.

I am not condoning it or saying to do it but it is the one case I know someone was able to skate on markers and it went to the 9th circuit court of appeals where the casino/track lost because it was a debt because they did a credit check etc. Was a retired guy, lived in a multimillion dollar home (which is safe in Florida from bankruptcy) as is retirement income which is why OJ moved to Florida and was able to collect his pension.

Quote: troopscott

... a guy racked up 600k in markers...he filed bankruptcy immediately... they did a credit check etc.

that was some kind of crappy credit check!

casinos generally seem to just check with your bank, not even a soft probe with the credit bureaus - my look into this sort of thing incomplete. I can say for sure sometimes they only check with your bank. But even that would suggest that fraud was involved in getting a huge amount approved for casino credit. Somebody at the bank would have to lie and say the accounts have a lot in them at all times, millions for that kind of approval, yet to go bankrupt, well, the guy had to be broke. And for that large approval, surely it occurs to somebody to do more than just check with a bank.

I can see it happening, but not for that kind of money, unless there was fraud and then the courts wouldnt give the guy a pass.

I always thought casino credit was for higher rollers, who have the cash to back up the loan, to access money quickly at the casino and not travel with piles of cash.

Either way, while there is no debtors prison, taking out a gambling loan with no intention to repay is considered fraud and prosecutable in most states.

Quote: gamerfreak

I always thought casino credit was for higher rollers, who have the cash to back up the loan, to access money quickly at the casino and not travel with piles of cash.

Either way, while there is no debtors prison, taking out a gambling loan with no intention to repay is considered fraud and prosecutable in most states.

medium to high rollers maybe? Those who bring $200 probably just always will bring that in the wallet.

from what I can glean, some states offer more protection to casinos than others; Nevada casinos of course have it made.

Details are fuzzy to me but seems like his income was high from the retirement accounts etc I remember the retirement income having something to do with it and they could not take his house much like Ron Goldmans family could not touch OJ house and NFL retirement because it was in Florida. I will google around and see if I can find the case

As it was explained to me, a marker is not considered a gambling debt.
It's a personal check . Writing a bad check can be a felony, depending on the amount.

Quote: billryan

As it was explained to me, a marker is not considered a gambling debt.
It's a personal check . Writing a bad check can be a felony, depending on the amount.

Does that vary from State to state? Indian joints?

It's still not a betting system, it's a method.

Hi Dear MichaelBluejay,

Current yet?

Thank you, RougeAndNoire

Casino credit is a decision for the casino to make. The casino that had the least 'credit losses' was in Reno, they had no credit desk. You brought what you wanted to risk and if you lost it, you looked at the scenery until your room reservation expired but no markers.

In Nevada, markers are checks and the collection agency is the county sheriff's warrant squad. That said, even when markers were NOT enforceable, Binions had a phenomenally high collectior rate on markers.

One casino, quite some time ago, had two middle aged brothers who went on a credit limit escalator all the way up to 800,000 each. When teh inevitable happened, the casino found those two brothers had taken names from their local cemetery. Free rooms, free meals, free high end booze and all they could find were two cemetary plots. Someone lost his job after that one.