If a gambler and the casino keep going forever, how come the casino is always the winner?
In: Mathematics
Like with any randomised event, be it gambling, dice throwing, coin tosses, the more you repeat the cycle the more consistently the probabilities are reinforced. If a coin toss landing on either side has 50% probability you could theoretically just get lucky and get 6 wins in a row by betting on tails. It’s not impossible. But if you do 1000 coin tosses in a row it’s very likely that the results will be more or less equal for either side. On every game in a casino the odds are stacked against the player from the get go and the casino hinges on gambler mentality, meaning they expect most people to play multiple times rather than just win once and leave. Quitting when you’re ahead is key in gambling. Even if you get lucky, if you keep going the casino is almost certainly getting its money back
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