Can games in casino be won?
Casino is a game of expectation. With proper expected values and sufficient funds any casino game can be won with lowest probability of losing the game.
According to me, the catch of winning casino games lie in controlling the main emotions that rule the market indexes which are greed and fear. Being greedy and fearless, anyone can win any amount of money desired from casino.
Casinos run only on a margin of 3% above their capital which is a very low amount. And to believe that casinos are the only winner is a wrong perception and with proper expected values game can always be won.
For example- in an one on one flash with casino , everytime the player is having half a probability of winning the game .So with half a probability and a specific sum of money we are always at profit.
Lets be numeric on this .
If player gets colour amount of money with the player gets 5 times
If player gets sequence amount of money with the player gets 6 times
If player gets coloured sequence amount of money with the player gets 10 times
If player gets triplet amount of money with the player gets 11 times
If player gets double amount of money with the player gets 3 times
If playeronly wins amount of money with the player gets 2 times.
Let the specific sum of money played with be Rs.1000 on every game with total amount of Rs.10,000 to play the game with. Let suppose we don’t have emotions(greed and fear)
With expected valueshalf times we will win and half times we ‘ll loose so so 5 times we loose that is we loose Rs.5000 and we win 5 times that is 5000 x 2=10,000 which is our initial amount.So we should play the same amount again and againuntil we get colour,sequence,coloured sequence,triplets or doubles.
Hence we are always in win win situation.But my assumption of keeping two emotions silent is very strong.These two emotions of common people makes 3%profitmargin for the casino.
Wednesday, August 13, 2008
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