Neil Degrass Tyson's Gambler Logic Failed

[sciencemmm]

Tyson laughed at gamble logic on the following video:



Yet his logic failed too.

 

[1srelluc]

No skill gambling has, and always will be, for suckers.

 

[jwoodie]

Monty Hall problem?

 

[marvin martian]

Tyson laughed at gamble logic on the following video:



Yet his logic failed too.

That dude is a con man.

 

[ReinyDays]

1] Wait wait wait ... a coin flipped an infinite number of times will result in an infinite number of "heads" ... there's no "percentage" if the denominator is infinity ... the Law of Large Numbers applies to large numbers ... and ten isn't large in this context ... the odds of ten out of ten flips as "heads" is 1 in 1024 ... for large numbers we'd use ten million flips ... ten million heads out of ten million flips ain't going to happen ... the Law of LARGE Numbers ...

2] Did the video suggest casinos are cheating? ... why? ... on the European Roulette table, #7 has a 1 in 37 chance of getting hit, but only pays 36 to 1 ... the casino makes 3 pennies for each Euro bet ... in North America, there's 38 slots, so 6¢ per dollar bet ... that's the worst a casino can do ...

Just words ... no math ... casino gambling is a negative expectation ... over the long haul, you will lose ... roulette, craps, blackjack and video machines are all set against the player ... has nothing to do with the skill level of the player ... it's always a losing proposition ...

The best a gambler can do is suck down enough free booze ... you'll still lose money, but at least you're drunk ...

 

[westwall]

1] Wait wait wait ... a coin flipped an infinite number of times will result in an infinite number of "heads" ... there's no "percentage" if the denominator is infinity ... the Law of Large Numbers applies to large numbers ... and ten isn't large in this context ... the odds of ten out of ten flips as "heads" is 1 in 1024 ... for large numbers we'd use ten million flips ... ten million heads out of ten million flips ain't going to happen ... the Law of LARGE Numbers ...

2] Did the video suggest casinos are cheating? ... why? ... on the European Roulette table, #7 has a 1 in 37 chance of getting hit, but only pays 36 to 1 ... the casino makes 3 pennies for each Euro bet ... in North America, there's 38 slots, so 6¢ per dollar bet ... that's the worst a casino can do ...

Just words ... no math ... casino gambling is a negative expectation ... over the long haul, you will lose ... roulette, craps, blackjack and video machines are all set against the player ... has nothing to do with the skill level of the player ... it's always a losing proposition ...

The best a gambler can do is suck down enough free booze ... you'll still lose money, but at least you're drunk ...

Then how do professional gamblers survive? I know a card counter at blackjack. He takes home about 1000 per day, on average, from the multitude of casinos in Vegas.

He wins probably 70% of the time. If he goes on a winning streak he will intentionally lose so that he doesn't draw attention to himself.

As he told me long ago, I would rather make a safe 5k per week, for life, than risk the ire of the casinos and get kicked out after a big win.