If a gambler and the casino keep going forever, how come the casino is always the winner?
In: Mathematics
Because expected return for player is negative and expected return for house is positive. In practice this means that more games gambler and casino play less likely gambler is to be on winning. Going into more detail kinda takes it away from ELI5 territory.
Theoretically house can lose only if it runs out of money. While in practice casion could theoretically run out of money with very unlucky streak, but bigger buffer of money casion has the more unlikely scenario this is. Casions have big enough buffers of money that odds of string of victory to cause casino to run out of money are extreamly unlikely.
Additionally there tends to be win limits etc. To limit gains individual people can get from getting from finding glitch in the system. After winning enough generally casino refuses to play with you for limited period. In case of continued success they’ll set people to investigate your winning streak, in case it’s luck, cheating or abusing mistake done by casino.
Anyway the potential buffers of money casions have access to are wast compared to even biggest jackpots. And usually the biggest jackpots are grow over time, so you can’t win them multiple times in row.
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