TheWolf713
TheWolf713
Joined: Feb 12, 2013
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March 23rd, 2013 at 8:25:29 AM permalink
Time.... The casino's most prized asset...

The one thing that most Players will agree on about craps is over TIME, craps is a negative expectation game..

So I have 2 questions

1) So with all the the data collected, has anyone ran a time exposure simulation? Or perhaps an average amount of time that elapsed on winning sessions versus losing sessions...

2) What is the house edge on a player who has the POWER to leave??

What do you guys think???



"In a casino, the cardinal rule is to keep them playing, and keep them coming back.. In time, we'll always get your money."
"I'm a DO'er and you my friend, are a Don'ter" -Mark Walberg pain and Gain
Transender46
Transender46
Joined: Jan 2, 2010
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March 23rd, 2013 at 8:33:02 AM permalink
The house edge won't change - regardless of whether a player has the power to leave or not

Looking at average length if winning streaks to determine when to leave is part of the gambler's fallacy that leads gamblers to believe events in the past can affect events in the future - akin to Roulette players and Baccarat players who think a certain 'play' can become overdue based on a streak.

Each throw of the dice is an independent trial.
MrV
MrV
Joined: Feb 13, 2010
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March 23rd, 2013 at 8:38:42 AM permalink
Better question, albeit rhetorical, would be: what is the prospective house edge against a player who determines to stop gambling and through will power chooses never to gamble again?

Or, to quote the Bard: "What fools these mortals be."
"What, me worry?"
Transender46
Transender46
Joined: Jan 2, 2010
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March 23rd, 2013 at 8:51:03 AM permalink
Lol. Perfect
TheWolf713
TheWolf713
Joined: Feb 12, 2013
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March 23rd, 2013 at 8:52:33 AM permalink
Quote: MrV

Better question, albeit rhetorical, would be: what is the prospective house edge against a player who determines to stop gambling and through will power chooses never to gamble again?

Or, to quote the Bard: "What fools these mortals be."



I understand the the house edge of the game itself "is what it IS" but what I'm asking is their a direct coorelation to a person's will to continue playing versus the person who can simply leave... The math is theoretical, can time exposure not be theoretical as well?
"I'm a DO'er and you my friend, are a Don'ter" -Mark Walberg pain and Gain
TheWolf713
TheWolf713
Joined: Feb 12, 2013
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March 23rd, 2013 at 9:02:02 AM permalink
And when did leaving a casino fall under the gambler's fallacy?
"I'm a DO'er and you my friend, are a Don'ter" -Mark Walberg pain and Gain
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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March 23rd, 2013 at 9:20:45 AM permalink
Quote: TheWolf713

I understand the the house edge of the game itself "is what it IS" but what I'm asking is their a direct coorelation to a person's will to continue playing versus the person who can simply leave... The math is theoretical, can time exposure not be theoretical as well?


It obviously says more about the player than the game. He is not delusional about his luck and is not willing to have a higher aggregate play in a session. You're just going to see him play less in a lifetime.
I am a robot.
Ahigh
Ahigh
Joined: May 19, 2010
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March 23rd, 2013 at 9:25:47 AM permalink
Craps: how to master the art of loitering to enjoy $3 drinks for $1.

My drink of choice now at the Silverton is "blueberry red bull."

Sometimes I ask for redberry blue bulls ...
TheWolf713
TheWolf713
Joined: Feb 12, 2013
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March 23rd, 2013 at 10:30:35 AM permalink
Quote: Ahigh

Craps: how to master the art of loitering to enjoy $3 drinks for $1.

My drink of choice now at the Silverton is "blueberry red bull."

Sometimes I ask for redberry blue bulls ...



Lol...
"I'm a DO'er and you my friend, are a Don'ter" -Mark Walberg pain and Gain
Transender46
Transender46
Joined: Jan 2, 2010
  • Threads: 4
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March 23rd, 2013 at 11:10:17 AM permalink
Quote: TheWolf713

And when did leaving a casino fall under the gambler's fallacy?



It doesn't. The nature of your question regarding the average length of streaks and how leaving would affect the house edge - does.

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