A Gamblers Share
December 23rd, 2019 at 4:25:07 PM
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Hello;
New to forum but not to gambling. I find a wealth of info at WoO, and have used it recently for PaiGow Poker here in Eastern US (which has different rules than out West), and Video Poker.
I have a question and proposed solution to an age-old adage "A Gambler's Share" being about 30%. I have had difficulty referencing it, and never seen a math reason or approximation. I do believe it comes from (Cash) Table Poker going way back before my time. Does anyone have any anecdotal evidence, or math?
Regards
Suited89
New to forum but not to gambling. I find a wealth of info at WoO, and have used it recently for PaiGow Poker here in Eastern US (which has different rules than out West), and Video Poker.
I have a question and proposed solution to an age-old adage "A Gambler's Share" being about 30%. I have had difficulty referencing it, and never seen a math reason or approximation. I do believe it comes from (Cash) Table Poker going way back before my time. Does anyone have any anecdotal evidence, or math?
This winds up being rather close, and includes a reduction based upon House Advantage. E = one sigma = 0.68268949+ and h = 1-House Advantage
(1/E)^E*h^2
If h=0 then the "gambler's share" solves as 1.2977, if h=0.95 gambler's share is reduced to 1.1712.
(1/E)^E*h^2
If h=0 then the "gambler's share" solves as 1.2977, if h=0.95 gambler's share is reduced to 1.1712.
Regards
Suited89
Last edited by: Suited89 on Dec 23, 2019
some people need to reimagine their thinking
December 25th, 2019 at 9:48:29 PM
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small error in the 30pct box... when the House Advantage is zero h = 1 (1 - HA), not zero as printed. Didn't catch it till now. When the House Advantage is about 12.216% (h = 0.87784) the Gambler's Share = stakes (no advantage).
Regards
Suited89
Regards
Suited89
some people need to reimagine their thinking
December 26th, 2019 at 2:46:17 AM
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I must say I don’t follow this at all. And when I google all I get is that it’s a line from a Bob Seger song. Could you give more context?
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
December 26th, 2019 at 8:20:46 AM
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Thats really about all I know... I ran across the "30 pct" figure while at "Hit or Stand" forums about 15 years ago. I'm thinking its a known quantity with purpose, but as you say (and I've heard that song "Still the same" by Bob) it might be fictional. Ultimately, thats what I'm trying to figure out... if there's any basis for "A gambler's share" historically and or mathematically.
Regards
Suited89
Regards
Suited89
some people need to reimagine their thinking
