If the house is favored in the long run how do pro gamblers make money?
In: Mathematics
There are many ways.
Poker players don’t play against the house. They play against other players. So, they just need to be better than the other players.
Blackjack players use advanced techniques to shift the game’s edge from the house’s favor to their favor. The most common method is card counting.
Video poker players find games where the edge is in the player’s favor and then follow an optimized strategy.
Slots players find machines where the progressive jackpot has built up enough that the game now has the edge in the player’s favor and they play it until the jackpot hits.
People can also take advantage of promotions where the casino gives you free money by matching your deposits, rebating some of your losses, etc.
People can also play casino games at a small loss, but take advantage of comps for hotel rooms, flights, meals, shows, etc.
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