The 80/20 Rule

We know the 80/20 rule (Pareto Principle)
applies to many things. 20% of the salesmen
at a car dealership sell 80% of the cars.
80% of a countries wealth is usually controlled
by 20% of the population. 20% of customers
are responsible for 80% of a stores sales.
In casinos, internet or B&M, 80% of revenue
comes from 20% of the customers.

I wonder how this rule of randomness applies
to how we bet, how we play our money in
the casino. It has to be there, it's in every
other aspect of our lives. I wonder if it's
possible to get positive EV out of it.

The only ev I see you getting is that which you already recieve knowing how to bet and staying even and out of that % donating to casinos.

Quote: EvenBob

We know the 80/20 rule (Pareto Principle)
applies to many things. 20% of the salesmen
at a car dealership sell 80% of the cars.
80% of a countries wealth is usually controlled
by 20% of the population. 20% of customers
are responsible for 80% of a stores sales.
In casinos, internet or B&M, 80% of revenue
comes from 20% of the customers.

I wonder how this rule of randomness applies
to how we bet, how we play our money in
the casino. It has to be there, it's in every
other aspect of our lives. I wonder if it's
possible to get positive EV out of it.

If you only bet on 20% of the hands, you'll win 80% of the time. Easy EV for you EvenBob. And I charge nothing for my services.

Quote: EvenBob

I wonder if it's
possible to get positive EV out of it.

No, that's just it, it's the opposite of a random phenom.

80% of the people who think they are APs aren't, I bet. If we include people with betting systems it might be 10/90 or worse! [edited, got it backwards]

And I'd guess amongst even real APs, 80% do little more than break even, while the 20% make all the money. A guess.

When I go to a casino, they take 80% of my bankroll, and I get to keep 20%. I'm still working on how I can use this to my advantage...

Oh boy I feel the sharks circling.

Hopefully this isn't going to turn into a Bob bash, because I though it was an interesting question /thought.

I don't even know if this 80/20 is accurate for casinos I'm going with it for arguments sake.

I'm thinking, that Bob's thinking, that because the big bettors are the ones that lose a majority of the money that the casinos make, perhaps the 20% people are losing way over expectation, therefore a bettor could somehow pick up an advantage from this. IE. play opposite of a big baccarat players at smaller amounts since you know they are the ones losing all the money to the casinos. Or waiting for some whale to dump a bunch of money on some game, then go play because the numbers have to average out somehow. Unfortunately this wont work, its just another worthless betting system. Don't forget that 20% can also hurt a casino if they get lucky.




The only way to have + EV while gambling in a casino it to make sure whatever you are doing is actually an advantage mathematically.

Betting systems don't work. You can't predict something that's random. No matter what you believe or how lucky YOU have been NONE of the betting systems work without a mathematical advantage.

AP's(even some non AP's. (I have been on many plays where the ploppys have a huge advantage to ) can pick up +EV from that 20% by playing high limit progressives at positive numbers.

Counting cards using smaller bets at a big players table may be a possibility perhaps they are not worried about what you are doing, especially if they are giving more favorable rules or something.

Ahigh's pinball would probably be a good example of a game where you could capitalize on that 20%.

If you want to make money from the 20% get an independent hosts license and represent that 20%.

Quote: odiousgambit

No, that's just it, it's the opposite of a random phenom.
.

No, it's random. If you have 20% of your
salesmen making 80% of your car sales
one month, it will a different 20% next
month. It's a natural phenom, it's random.
A farmer will see he gets 80% of his peas
from 20% of his pods, totally random.

Where are the facts to these cases?

Quote: Ibeatyouraces

Where are the facts to these cases?

Google 80/20 rule and you'll have hours
of reading. They've been studying this
for a hundred years.

Quote: EvenBob

No, it's random. If you have 20% of your
salesmen making 80% of your car sales
one month, it will a different 20% next
month. It's a natural phenom, it's random.
A farmer will see he gets 80% of his peas
from 20% of his pods, totally random.

Hmmm. I don't know much about salesmen but I would think that car sales would be more likely to favor a good sales person.
Or someone charming. I have a hard time thinking it's completely random.

Quote: AxelWolf

Hmmm. I don't know much about salesmen but I would think that car sales would be more likely to favor a good sales person.
Or someone charming. I have a hard time thinking it's completely random.

For car sales, not random.
The good salesmen make more sales, maybe not every month but think longer term.
The best salesmen have that same customer coming back 3,4,5 years later and asking for them.
That's a good salesman.
There is a lesson to be learned there, many of the casino operators haven't signed up for the class.

Quote: AxelWolf

Hmmm. I don't know much about salesmen but I would think that car sales would be more likely to favor a good sales person.
.

A salesman don't get to pick a customer.
He's next in line and gets what he gets.
What the 80/20 rule doesn't let you do
is keep the 20 and get rid of the 80.
If you did that, the 80/20 rule would then
apply to those that weren't fired.

There are books written on this rule.

:D Nice try, but It`s not working in real life)))