Sun 11 Oct 2009
Casinos And Investing: Probability Versus Possiblity
Posted by Robin Bal under Investing[2] Comments
If you serach for online casinos at the moment there are thousands of casinos around at the moment, both online and land based. But can it be done? If you search or visit the best online casino can you find a source of betting systems that don’t require you to pay $100’s up-front with no proof that they work? Can any betting system work at a casino? This site offers listings of top rated online casinos including those that accept US players and features a forum.
With the right system, and most importantly, the right discipline, it can be done. Casinos typically work to a ‘House Edge’ of 1 to 5%. For every $100 gambled, the player will lose $1 to $5. It doesn’t sound like much, but in a multi-billion dollar industry it’s enough to make online casinos some of the most profitable sites in the world, and to build Las Vegas up from nothing in just a few years.
A whole lot of people will tell you that it is impossible to overturn this edge, and from a purely mathematical point of view they are correct. The Laws of Probability mean that you cannot turn a negative into a positive. If you are playing Roulette, and Black has come up 10 times in a row, the odds of it coming up next time are still 50/50. (Ignoring the ‘0’ and ’00’) According to the Laws of Probability, there is no reason why Black cannot come up 100 times in a row. This argument, while scientifically sound, ignores the Law of Possibility, which means that in the real world, the chances of Black coming up 100 times in a row is so slight that it can be ignored.
Read (more…)




