Poll

1 vote (4%)
4 votes (16%)
1 vote (4%)
16 votes (64%)
1 vote (4%)
4 votes (16%)
9 votes (36%)

25 members have voted

AxiomOfChoice
AxiomOfChoice
Joined: Sep 12, 2012
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January 11th, 2014 at 8:53:03 PM permalink
Quote: EvenBob

No, it doesn't. The house says they'll pay me even
money if I bet red or black.



The fact that they pay you only even money instead of 20 to 18 is the house edge.

Quote:

If I bet $1000 on red and win
and leave, the HE did not effect that bet.



Of course it affected the bet! They paid you only $1000! They should have paid you $1111.11 and a ninth of a cent! Are you saying that underpaying you by $111.11 has no effect on you? Do you not understand the difference between getting paid $1000 and getting paid $1111.11? That difference is the house edge.

What if they paid you even less? Where do you draw the line? If the casino had "sucker day", where a $1000 bet on red paid only $20, and you bet and won, would you continue to say that the house edge didn't effect you? After all, you won $20!
Buzzard
Buzzard
Joined: Oct 28, 2012
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January 11th, 2014 at 8:56:48 PM permalink
" Do you think the pit winks
and high fives each other after I go, congratulating
themselves on having the edge working for them
on that bet? I don't think so. "

Is it possible those high fives are simply because you left ?
Shed not for her the bitter tear Nor give the heart to vain regret Tis but the casket that lies here, The gem that filled it Sparkles yet
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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January 11th, 2014 at 8:59:59 PM permalink
Lets say the house edge is minimized as being important in these situations and variance is the key factor. I always thought about the whole casino having one customer betting the same as the group once a year and not playing the rest of the time. Pretty funny imagining a casino losing 900 million in one bet then praying the next year for a win. IF someone takes a big, hard and quick strategy, they have to stick with it and quit either way.

Slots have taken this path where there are 75 penny bets a spin compared to one 75 penny bet. If paybacks are the same, the penny method never offers the same chances for as many large payouts. Nobody is walking because they Don't think it can happen again. Zombie land. Can't play with bets as much because bet ranges are also smaller by half so people sometimes getting lucky or saved with mini martingales gone because so volatile and diverse. Slot players call it no bounce back.
I am a robot.
EvenBob
EvenBob
Joined: Jul 18, 2010
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January 11th, 2014 at 9:23:16 PM permalink
Quote: AxiomOfChoice

The fact that they pay you only even money instead of 20 to 18 is the house edge.



So how profit did the house make on my $1000 bet?
"It's not enough to succeed, your friends must fail." Gore Vidal
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
  • Threads: 212
  • Posts: 8277
January 11th, 2014 at 9:47:41 PM permalink
Quote: EvenBob

So how profit did the house make on my $1000 bet?

You'll be back. That's how. It's like thinking of robbing a bank and not seeing the downside when you get caught or shot. If I get away, I won and if I don't I'm dead anyways so I can't lose. Obviously this person isn't valuing their life or freedom. Thinking this way is ignoring that the casino will get you eventually. Then the thoughts are I've won and probability doesn't have memory and I can do this winning forever. I'm neo, the almost zero but so powerful. This thinking happens day one and always returns as an original idea.
I am a robot.
EvenBob
EvenBob
Joined: Jul 18, 2010
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January 11th, 2014 at 9:52:24 PM permalink
Quote: onenickelmiracle

You'll be back. That's how. .



AHA! So you admit the HE does not manifest itself
on every bet, only in the long run. I have to play
and play and play for it to truly effect me. The HE
is irrelevant to a player. What is relevant is he has
a poor bet selection and is playing against an
opponent that has an endless BR. That's why he's
doomed, the silly long run HE is meaningless
to the player.
"It's not enough to succeed, your friends must fail." Gore Vidal
24Bingo
24Bingo
Joined: Jul 4, 2012
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January 11th, 2014 at 9:55:04 PM permalink
You'll be back, or someone else will be there. "Hit and run" players don't always win, and the more determined they are to quit while they're ahead, the further behind they'll get. You have such delusions of grandeur as to how your own personal success affects, the house, but you have yet to grasp that they have no interest in who makes a bet, only what bets are made.

In the short term, you might get lucky, but you've still paid in, just your luck has gotten you far enough above par to have won. From the house's perspective, all that luck is wrapped up in a big bundle. They'd love you to come back, but they're as happy for someone else to take your place.
The trick to poker is learning not to beat yourself up for your mistakes too much, and certainly not too little, but just the right amount.
AxiomOfChoice
AxiomOfChoice
Joined: Sep 12, 2012
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January 11th, 2014 at 10:07:49 PM permalink
Quote: EvenBob

So how profit did the house make on my $1000 bet?



They should have paid you $1111.11. They paid you $1000.
EvenBob
EvenBob
Joined: Jul 18, 2010
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  • Posts: 25333
January 11th, 2014 at 10:12:49 PM permalink
Quote: AxiomOfChoice

They should have paid you $1111.11. They paid you $1000.



In other words, they made nothing, they lost $1000. Do
that enough times and they'll kick you out for not being
a good sport. Get enough people doing it, and they'll
lose money for the month, just like Steve Wynn said.
HE in place and working and everything.
"It's not enough to succeed, your friends must fail." Gore Vidal
AxiomOfChoice
AxiomOfChoice
Joined: Sep 12, 2012
  • Threads: 32
  • Posts: 5761
January 11th, 2014 at 10:22:42 PM permalink
Quote: EvenBob

In other words, they made nothing, they lost $1000. Do
that enough times and they'll kick you out for not being
a good sport. Get enough people doing it, and they'll
lose money for the month, just like Steve Wynn said.
HE in place and working and everything.



So you think that if enough people bet $1000 on red in roulette, the casino will lose money for the month?

That is an interesting theory.

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