If a gambler and the casino keep going forever, how come the casino is always the winner?
In: Mathematics
The odds are ever so slightly in their favor, and they will be here tomorrow while you will not. If you look at roulette for example, there are 38 slots on the wheel. So if the game was fair, it would pay out 37:1. It pays out 35:1. Even if you go on a hot streak, over the long term, the house will come out ahead. In poker, the house has zero risk, because the players are betting against each other. The house just takes 10% off the top, and just sits back and watches.
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