April 8th, 2016 at 5:24:04 PM
permalink
Done anyone think it possible to consistently turn long term 'short term' profits on any game at all (physical or online) with a tiny negative expectation? E.g. Bovada online's single deck BJ game has a house percentage of only 0.0000956 (0.0096%, $9.56/$10k) per The Wizard. I'd think standard deviation and hence variance might push you over the top for extended periods (years?), especially with random extreme bet size variation.
April 8th, 2016 at 6:14:14 PM
permalink
It depends on what you mean by "consistently." There's no guarantee of coming out ahead, but the lower the HE, the better the chance of, say, a Martingale working enough times to cover the losses.
Remember that variance works both ways - and the center point is still is in the house's favor.
Remember that variance works both ways - and the center point is still is in the house's favor.