Advice please

Kasi

Well-Known Member
#21
GeorgeD said:
Maybe you misunderstand the risk of the game. Lets say a game has a house edge of .5% ... does that mean if you buy in for $200 and play for 4 hours you should only lose about $10? ($200 * .05)? Well, no .. that's what I thought in the beginning. If you buy in for $200, and flat bet $10, you will probably play about 60 hands per hour, so you will risk $600 per hour (@10 * 60) and on average lose $30 per hour or $120 in four hours IN THE VERY VERY LONG RUN.
No big deal because you do have the right idea. But you are off by a decimal - like wagering $600/hr, maybe more technically speaking, playing against 60 dealer upcards/hr at $10, making perhaps more likely that one has wagered more like $660 than $600 by then in alot of typical DOA and DAS games, you'd expect to lose $3/hr not $30. So maybe one flat-bet every 3 hours or so.

Anyway, like you pointed out, due to variance, aka "luck", I believe one can lose alot more in one's mind due to completely expected "luck" than one thinks. It perhaps feels like they are possibly cheating at just one standard deviation. At 2 standard deviations, you are sure they actually are but maybe yet have still have some lingering doubt that after all "s*it happens". At 3 SD's, the doubt in your mind is likely completely gone. Yet, that wouldn't actually be true by a long shot.

So, to the original poster, that's about the way, more or less, it worked for me, emotionally vs mathematically, anyway. Emotionally, I was insane. Mathematically, I was comforted. Sort of.

It's a funny thing :)
 

N&B

Well-Known Member
#22
I think it works out including splits and doubles that 173 initial 1 unit bets lose 1 unit based upon a 0.50% House Advantage. How long it takes is variable due to table conditions of dealer speed, other players, etc.
 
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