More geek moments. Dana is right. Casinos make money on very, very small margins (51% chance of the house winning at blackjack, is that right?) Each hand, each throw, each spin is a separate event and the house makes money on volume.
Further geek moment learned at MAX- the dealers want you to win. The only way they get paid more than minimum wage is for people to win and give them tips. On 11/10/06, Dana wrote: > > No! Every throw is a separate event independent of previous events. Odds > are always 50-50 (assuming a fair throw). > > You are using the formula for a sequence, the odds say off getting > ttttttth. > > >> Dana wrote: > >> negative, your odds do not improve if you stay at the table. > > > >Correct, they do not improve. They decrease as it's a function of sample > size. > > > >For example, the probability of flipping a coin once and having it > >come up heads is 1 in 2. The probability of 5 heads in a row is 1 in > >32. 10 heads in a row is about 1 in thousand. > > > >So the probability of "winning", given that winning is heads, > >decreases as you stay at the table. > > -- --------------- Robert Munn www.funkymojo.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Introducing the Fusion Authority Quarterly Update. 80 pages of hard-hitting, up-to-date ColdFusion information by your peers, delivered to your door four times a year. http://www.fusionauthority.com/quarterly Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:220361 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
