The Mathematics of the Casino | What people get wrong about gambling

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32 thoughts on “The Mathematics of the Casino | What people get wrong about gambling”

  1. OUR FAVORITE (Yes our favorite) statement from new players ( and some old players) is : YES But I win with the 7 & the 11 on the pass line and come bet- Oh Gee whiz. OK sit down and work out the "real math" of that statement: You have 8 ways to win on the come out roll with the 7 & 11. That is a very low 22.22% ( less than 25% or 1 in 4) VS 28 ways ( 77.77%) Over 75% that you will lose with the 2,3,&12 or roll a point number 4-10 that you now have to roll TWICE to win and only pays even money. That is a good bet?? Those are not very good odds for the pass/come bettor. 22.22% VS 77.77% This is known as "Casino math ( House edge) VS Real math ( ROI). Any questions? Enjoy the show!!! Casino Math VS Real Math. 🤔☯ "All This house edge is Crap with a Capital C in Craps" From the show on Y.B "Casino Math ( House edge) VS Real math ( ROI $$) .

  2. I have to adress a special thanks for the editor of this youtube channel, that was a revealing moment when I followed your interepretation the first time and that has consequences on my vision about risk and reward attribution. Absolutly MUST wathc for any mathematic passionate !

  3. Played 21 New Year's Eve. Young guy sitting next to me had at least $1000 in $25 dollar chips. Mentioned he looked successful. He said, "He loved to gamble". He proceeded to lose it all. He left and was VERY upset. Should have watched this piece. I came in with 300. Won several hands initially. It turned and I left with $200. Time to know when to leave.

  4. Instead of gambling, try investing. People said investing in crypto is gambling, then go and throw all their money away on useless trash and casinos. Over the course of the last three years, I retired, they are still working. Think before you do.

  5. I always play corners in roulette. My strategy is to play $5 chips and place a few different bets per round. I’m yet to lose playing like this, although I’m sure statistically I’m probably just getting lucky and there’s some way I could be playing smarter

  6. Pretty simple trick to beating the casino.

    A lot of them underprice their drinks, buffets, sometimes even hotel rooms. Don't be distracted by the flashy gambling. Take advantage of the things they're taking a loss on with the expectation that you will gamble.

  7. I bring $50,000 with me to gambling venues. I'm usually happy with wins under $5,000, although sometimes It is much more. I win most all the time, perhaps around 90% of the time. When I lose, I lose all 50K. I might stack 8 trips of wins in a row before taking the big dump. Casino comps meals, lodging, gaming chips, gazebo, massage, etc etc. The one thing that can kill me is back-to-back 50k losses, that that hasn't happened YET, but someday it probably will. Let's make one thing clear though, I ALWAYS end up a loser for the year. 35 year losing streak, including this year. I do get a lot of luxury family vacations and fun out of it so I can live with the losses. I've made it to November some years winning for the year, but I always wind up taking the massive loss to make it a losing year. This year I took the massive Dump in April.

  8. I play dozens 23 and cover the zeros, i have 26 slots to land in ,the casino has 12. I have 3 other systems for when im up, i play everyday and avg. $200. Other than a system, the key to winning roulette is to win AND LEAVE!

  9. CFO for three casinos here, one guy in Idaho walked in to use our phone for an auto emergency, while waiting he put $20 in a dollar machine, second pull he hit the $78,000 jackpot and cashed out. When I gave him the check the next day he said it was the only time he'd been in a casino and he'd never be in one again. Smartest guy ever. After quitting one casino which had video lottery terminals with internal win tables, I came back and beat them for $2,800 in lees than a month. How you ask? I played $5 bills in max bets on the nickel machines ($.40/play) until I was down $2 or up over $5; a lot of printed tickets but when you won, it was easily over the $5 mark (sometimes way over) and when you lost, you limited the loss to $2. During that month I hit four jackpots for over $160 a whack and one for $1,600. Caveat: most video lottery terminals are no longer around. Our average win on networked slots was around 6% at all those casinos. Seriously, i advise my friends to limit their losses and play at least the $1 slots because they pay better odds…ATMs are not your friends. Just play to have fun, not to bleed.

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