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klonkimo
May 16, 2023 at 3:30 pm
I am certainly no mathematician, but those odds of 8 squared doesn’t sound right because of the zero and double zero bets. It’s close, but the odds were actually slightly better for the casino
An English Language Learner
May 16, 2023 at 4:03 pm
I watch the clip twice, still don’t understand Martingale algorithm.
Adam Lucas
May 16, 2023 at 4:25 pm
As an example, roulette pays 2x your bet if you successfully bet on red or black. Let’s say I have $10000 and I want $100 of profit. I bet $100 on red, I lose (so I’m down to $9900). I double my bet to $200 on red. I lose again ($9700). I keep doubling. $400, lose ($9300). Bet $800, lose, down to $8500. Then I double again, bet $1600 and I win. I’m on $10100 like I wanted, and I can just start again. This works because it’s unlikely that I’ll lose a 50/50 bet eight, nine, ten times in a row, so as long as I can keep affording to double my bet, I’ll eventually get my money. Casinos have maximum limits on bets to stop people doubling their failed bets forever until they win.
An English Language Learner
May 16, 2023 at 4:39 pm
@Adam Lucas OMG! Thanks for you explanation! It’s very clear and detail. You can be a great teacher!
C Mel
May 16, 2023 at 4:29 pm
I always use the time strategy, enter casino, play a certain predetermined amount if you win at ANY TIME, stop, walk out, works for me a lot, it takes a lot longer for me to get to the casino than I end up playing but leaving $5 up is fine by me
Alfred Tomey
May 16, 2023 at 4:39 pm
I think that the only way to have an edge over the casino is to be a good poker player, better than the average players you usually play against. Casinos don’t care about who’s winning the hand, you don’t play against them. They grab their share of the pot and that’s it. So the odds are fair for everyone and your skill will prevail in the long run.
C K
May 16, 2023 at 4:51 pm
Why did they CG’ed the deck and chips on the bottom left? 😅
BigSmoke
May 16, 2023 at 4:53 pm
Yeah as a former BJ dealer, I can’t disagree 😂
Moos
May 16, 2023 at 5:26 pm
As a kid I won huge (play) money on Roulette by bening over the table to get a very close look at the ball when it settles and at the same time adjusting my bets on the table with on of my hands. I hate cheats and I wouldn’t do it today, but the winning streak I had and actually taking all banks money was insane…I couldn’t believe nobody spotted me doing it, like as if they thought it could be legit for someone to win 30 times in a row. Good times…
Outside The Box
May 16, 2023 at 5:32 pm
I saw 12 red in a row at a table in reno. Some bet tons on red and made their rent… others almost took the luck personally and were betting on black just to go against whatever happened.
At the height of it the past roll board was 90% red for like 20 some odd rolls….just insane and people were screaming. I was playing safe at the black jack table.
Meir
May 16, 2023 at 6:12 pm
12 times is insane. That’s a 1/4096 chance to happen
Outside The Box
May 16, 2023 at 5:37 pm
My always win rule is once i win the amount i started with…say $40… i pocket that $40 and play with the winnings ($40). Everytime i go up by $20 i take that $20 and put it in my pocket. I dont touch my pocket for any reason.
Ive always broke even or come out ahead playing blackjack. Most of the time ill walk away with a couple hundred.
P.S. casinos make the best hot chocolate… a player got me hooked after she ordered one. Better than most coffee houses.
Nguyễn Đình Khải
May 16, 2023 at 5:53 pm
casino make money by laundering
Michael Chen
May 16, 2023 at 6:14 pm
I feel like progressive slot machines if it is guaranteed to win why wouldn’t everyone just play them?
Erik S
May 16, 2023 at 6:48 pm
they are only poaitive expectation when the balance in them is high
Shanna McMellon
May 16, 2023 at 6:22 pm
It makes me sick to hear people I know brag about winning $30,000 at the casino a couple of times when I know they refinanced their house because they needed gambling money. I could pay off my mortgage and then some, just give me the money.
Ian Scott
May 16, 2023 at 6:29 pm
I’m not sure I understood 50 percent of that. But that’s why I drink instead of gamble. I’m losing either way, but only one I enjoy.
hiroman
May 16, 2023 at 7:05 pm
Remember when Hollywood made a movie about the MIT card counting club that white washed all its members?
mendel lee
May 16, 2023 at 7:07 pm
Q: “what’s your best poker strategy?”
A: “Be a good poker player”
sounds about right
D S
May 16, 2023 at 7:10 pm
The best way to enjoy a casino is to just assume you are going to lose. Set a budget for the night and when you run out stop gambling. If you get lucky one day and come out ahead, be thankful and move on. Don’t expect it
End Olives
May 16, 2023 at 7:28 pm
Who is so dumb as to spend money to play a rigged game?
End Olives
May 16, 2023 at 7:29 pm
Just buy lottery tickets and lose money in a more pratical manner
Nikki Tenbrink
May 16, 2023 at 7:19 pm
I like how this guy‘s fully transparent about casinos just always being a losing game. The entire framing already starts with „you lose less“, never even implying you could (= should) try to win.
juggler314
May 16, 2023 at 7:30 pm
took the easy way out – odds of 8 reds in a row is not 256-1 it’s actually quite a bit more since it’s (18/38)^8 which works out to about 395-1
Steve Ricig
May 16, 2023 at 7:39 pm
Probability of 8 reds in a row in American roulette is (18/38)^8, about 0.253%. However, that’s only over 8 spins. The chances of a run of 8 or more reds in a row over, say, 100 spins is much higher.
Michael Blunk
May 16, 2023 at 7:50 pm
I like how he has the Blackjack Apprenticeship basic strategy chart there. 5:09
joshice chryzanthem
May 16, 2023 at 8:02 pm
Very impressive. Now ask him how good he is at playing caravaan
Elixirial
May 16, 2023 at 8:08 pm
for the second roulette question i thought it would be (9/19)^8 assuming an american wheel instead of 1/2^8. House needs money
K40l4
May 16, 2023 at 8:12 pm
So basically all casinos are cheaters.
Bryan
May 16, 2023 at 8:29 pm
Not the cgi chips and cards XD 2:40
John Sendrey
May 16, 2023 at 8:39 pm
Odds of 8 consecutive reds is 1 in (19/9)^8, not 1 in 2^8. Also Martingale in a negative-EV game always loses eventually, even when there are no table limits.
Samuel Takáč
May 17, 2023 at 8:00 am
i feel that he said more than he wanted or was supposed to say 😀
Jansen Art
May 17, 2023 at 8:30 am
Slot machines are bad odds. Poker machines (like the kind you see in “education lottery” states bars) are criminal.
Jansen Art
May 17, 2023 at 8:32 am
IMPORTANT: The optimal blackjack strategy varies based on table/house stand/soft rules!
Sean Birtwistle
May 17, 2023 at 8:34 am
you don’t go to a casino to make money, you go to win. want to make money? get a job
Jansen Art
May 17, 2023 at 8:38 am
8 reds in a row is close to 2^8, but because of the house edge greens, is higher than 2^8. I won’t go into the statistics calculation of it for a youtube comment though.
Ein Mensch
May 17, 2023 at 8:52 am
One slight correction on 7:00 – 7:30 regarding the martingale algorithm: As long as you have a *limited* disposal of money (it doesn’t matter if you are a billionaire, a trillionaire, a decillionaire, as long as it’s bounded), the martingale algorithm will lose you money over very long periods of time. The more money you have at your disposal, the longer it takes for that to happen, but you *will* lose money on average as long as your supply of money is not literally infinite. Setting a table limit just ensures that this happens a little quicker.
Sean Birtwistle
May 17, 2023 at 9:22 am
kids think they’re clever doing it until they realize they’re betting $1000 to win $20
SteVeL
May 17, 2023 at 8:58 am
0:22 Maybe it’s too late in the day and my brain is fried, but losing $0.5 for every $100 I bet is a really huge win.
What am I missing?
Galaxy Animal
May 17, 2023 at 3:18 pm
You’re still losing. When you bet $100, you get $99.50 back, so you can play for very long without losing all your money, but you’re still losing in the long run.
Captain Keller
May 17, 2023 at 9:06 am
Its amazing how many people with strange professions you find. listening to those is so much fun.
MRR D
May 17, 2023 at 9:34 am
The thumbnail says “the the house”
Flow
May 17, 2023 at 11:10 am
Buffer Overflow, so much information
Pralay Aryan
May 17, 2023 at 11:18 am
MIT has a card counting TEAM ?? WHAT ??!!
Xynic48
May 17, 2023 at 1:02 pm
I think I remember watching a movie about it
Question Mark
May 17, 2023 at 12:04 pm
“There are people that value the thrill of winning money over the misery of losing money.”
🤣🤣🤣🤣🤣
HockeyXC31
May 17, 2023 at 12:21 pm
The odds on successfully navigating an asteroid field are 3,720 to one!
Rodrigo Barbosa
May 17, 2023 at 12:32 pm
That’s pretty much how I win money at Casinos. Exactly the way he described.
I only play poker. Find a table with someone that is not as good as you, and has lots of money.
Interesting, you don’t need to be the best player at the table. I just have to be on the upper half of skills. Maybe you will only win $100 for each $2000 the best player in the table makes. But you will still win.
I don’t care if someone is making more money as me, as long as I’m also making money.
Sassy Cowgirl
May 17, 2023 at 2:41 pm
This is the guy who invented UNICA software which all the big brand companies of the world use for marketing to the most probable customers to buy their products. #Probability Matters. 😉
Latchdoorlatch 99
May 17, 2023 at 2:58 pm
Never stepped foot in a casino but this was so interesting
Spaghettioso
May 17, 2023 at 3:17 pm
Great video, he did a really great job of explaining!
Chris Relhard
May 17, 2023 at 5:02 pm
it should be noted that while doubling the bet every time you lose until you get a win will eventually give you a net positive as long as you don’t run out of money first, the amount you win will always be the amount you first bet. so if you started with a $1 bet and won $32 (your 6th bet), your net balance is $1. you won $32 but prior to that you lost $1+$2+$4+$8+$16 or a total of $31. it only becomes an increasing net positive if you’re playing a game where the win payout is more than x1, say if you played blackjack and only stopped on blackjack. then in the prior example you would have won $48 (assuming you lost all prior hands), resulting in a net balance of $17+. still a very high chance of running out of money before you win.
Diedert Koppenol
May 17, 2023 at 5:50 pm
Very nice vid! These are the best
Orange County
May 17, 2023 at 8:00 pm
If you see a girl playing video poker alone in a casino at 3:00 am, what are the odds she is NOT there for a bachelorette party …. 100%
bryan gonzalez
May 17, 2023 at 8:09 pm
Pretty accurate info
patron40silver
May 17, 2023 at 8:13 pm
Slots are for suckers.
Splitting Productions
May 17, 2023 at 8:19 pm
2:39 *gasp!
Those chips are edited in!!
Jacob Jones
May 17, 2023 at 9:13 pm
Take a couple hundred bucks and some friends ,drink free, maybe make a couple of bucks ,make a few good memories and then leave. That’s the entire value of going to any casino at all in my book.
tektrixter
May 18, 2023 at 2:53 pm
Exactly. The idea is to have fun while losing money as slowly as possible.
Jacob Jones
May 17, 2023 at 9:22 pm
Also, another way casinos really mess you up if they think you’re counting is capping the amount you are allowed to bet . If you are a pro and keeping a legit count then when the count is up you want to increase your bet size as statistically the odds are in your favor for that period of time. If your bet is capped it freezes your action then there is no way to make a profit large enough to even make counting worth it. Really , though if you start winning too much at certain periods during the decks, they’ll just back you off anyway so it doesn’t matter. And they are not nice about it at all. It’s super lame.
Rock Strong
May 17, 2023 at 9:53 pm
He was wrong about the 8 reds in a row, it’s not .5 to the eighth, it’s 18/38 to the eighth. He neglected the 0 and 00.
Halibut86
May 18, 2023 at 1:00 am
martingale sounds pretty smart!
isettech
May 18, 2023 at 1:45 am
Taking a class on statistical process control and the statistics class cured me of any interest in games of chance with a probability under unity. When expanded into large sample sizes, the bell curve of distribution becomes very narrow and eventually narrow enough that no points are in the overall gains side of the middle of the distribution.
In the stock market, overall, the odds are in the investor’s favor. Unlike very well planned games of chance, the odds on stocks vary widely to where winning is like looking for a needle in a stack of needles. I leaned to buy companies which are undervalued as they are likely to correct up, where overvalued stocks are more likely to correct down.
I highly use the Price/Earnings ratio. A low price for each dollar earned per share increases your chance of getting a larger dividend yield.
When the P/E starts to rise, this is a warning, either the price is rising and the earnings are not rising also, or the earnings are falling and the price didn’t. A high P/E is a warning to sell or place stop loss orders to lock in your gains.
A temporary condition that causes the price to fall, but earnings fall much less results in a low P/E. This is golden buying opportunities. As the event passes and earnings return, the low cost can result in outstanding yield on cost, as cost was at a discount.
Example, during the pandemic, the price of crude oil crashed. The price of oil transportation cashed. Bought a bunch of oil pipeline stocks at about 80% off the tradional price. Earnings fell, but not near as far as the price, so the P/E dropped to about 2. 3 years later, the price is up more than 4 times what I paid for it. Paid under 6 per share. Forward dividends of $2 per share is more than 33% yield on cost. Love the odds much better in the market. About doubled my holdings value twice in 3 years.
I thank my statistics class for showing me the odds in well made games of chance, and the odds of doing well in the market.
Woodshadow
May 18, 2023 at 2:01 am
What is crazy is how much money Casinos make and yet they still feel they need to increase their profits by replacing live dealers with machines and double zero roulette wheels with triple zero wheels
Ryan256
May 18, 2023 at 2:15 am
Excellent summary of casino odds.
elvijsx
May 18, 2023 at 5:43 am
Losing 100, dont matter, I singed up to lose it. But winning 100$ is gonna make my day amazing
Joe1729
May 18, 2023 at 7:08 am
How To Win At Poker:
– get really good at poker
– only play with rich people who aren’t as good as you
Fantastic
grandad_dwarf
May 18, 2023 at 7:54 am
I suppose they couldn’t call it ‘Gamibling Support’
Luis Vazquez
May 18, 2023 at 10:22 am
His example of what a gambler is told me I have a problem. I won’t gamble or enter a $5 bet with someone, but I will absolutely risk my life in the pursuit of adrenaline😅😂😂😂
Dexy83🌊
May 18, 2023 at 10:26 am
My Mom has paid for entire vacations playing blackjack. My brother furnished his first apartment with blackjack winnings. I didn’t inherit that skill. 😂😂😂
Vardman Turner
May 18, 2023 at 10:34 am
Odds of 8 reds in a row is correct but the odds of the 9th being red is 50% or less with 0s and that’s the important thing to remember
Gold 999
May 18, 2023 at 11:08 am
They’re independent, so that makes things smaller.
Gold 999
May 18, 2023 at 11:07 am
I went to casino for entertainment, not winning.
quiet chat
May 18, 2023 at 11:14 am
This really fun for a maths nerd like me. And i dont gamble but still it’s interesting to know. This one is the best. Neuroscience and the optical illusion was equally fun
Michael DeGrave
May 18, 2023 at 12:24 pm
For what it’s worth, the expected value of using the Martingale system is that you’ll lose all your money even without limits. Your wins are so small and your losses are so tremendously large that you’ll eventually hit a streak of losses that costs you everything. Plus by the end you’re betting a billion dollars on one spin to win back the $10 or whatever you bet on the first bet, so it would never make practical sense anyway.
Ssimms 8
May 18, 2023 at 1:20 pm
I watched this while playing a basic strategy accuracy game😂
Travis Pham
May 18, 2023 at 3:24 pm
Anyone notice the cards and the chips are just edited in?
Katie Fincher
May 18, 2023 at 3:44 pm
And thats why everyone uses infinite decks now.
Fizz Pop
May 18, 2023 at 7:20 pm
I’ve heard you can eat really well in a casino without having to spend much. Seems like a bloody good reason to go if you can resist the pretty lights.
Joshua Woodring
May 18, 2023 at 8:24 pm
With the title I thought it’d be “advantage support” since counters are often referred to as such
Ben
May 18, 2023 at 9:29 pm
I don’t agree with his Martingale analysis. Even a billionaire would go broke using Martingale even with no table limits.
Red_ Enderman
May 19, 2023 at 2:16 am
How does one become a professional blackjack player? I’m a professional blackjack dealer. I had not known you could become a professional player 😅
Twig
May 19, 2023 at 3:42 am
A 1 in 256 chance seems small. But if 256 people play that many games once, you expect one of them to be about that unlucky. In the grand scheme of gambling a 1 in 256 is quite common.
J
May 19, 2023 at 8:14 am
yet the movie did not accurately reflect
Victor Del Mastro
May 19, 2023 at 8:56 am
Yachun: In Craps, the 3 Point Molly (pass, come, come) can often give the player an edge over the casino for 3 rolls. A pass/come bet on the come out roll does have a significant edge. A travelled don’t come bet also has an edge. Odds bets have no casino edge. W/ free odds, a pass/come bet can have a house edge of less than 1%.
4u2nvinmtl
May 19, 2023 at 9:08 am
Odd how you missed the trick of doubling up on red/black, in roulette. Only for tables with one zero (not the double zero). In the end I get kicked out for “trespassing” or the table maximum gets lowered.
Clynn Wilkinson
May 19, 2023 at 11:13 am
Nice interview! Rule number one about slots is we don’t tell people about slots 😂😂
hjmanniii
May 19, 2023 at 11:39 am
Great video. However, I believe your calculation for the odds of hitting red on roulette 8 times in a row may be incorrect. I believe the correct answer is is actually 1 in 322.58.
My reasoning: the odds of hitting red are not 1 in 2 (50%), they are 18 in 38, which is 48.6%. Then the formula is P^n where P is the likelihood of the event happening once. The likelihood of 8 times – 0.31%, or 1 in 322.58
stonecoldscubasteveo
May 19, 2023 at 11:55 am
Poker is the only game that is beatable long-term, as it is the only game in the casino where you don’t play against the house.
James Davis
May 19, 2023 at 9:00 pm
Table limits are there to prevent MARTINGALE?! What?! That’s just plain untrue – casinos aren’t afraid of martingale. The risk mitigation by creating table limits is for many reasons but nothing even close to martingale being a threat. I think this statement was a troll.
Eric Coskun
May 20, 2023 at 2:14 am
A card counter may understand counting, but this guy does not truly understand house edge. I have been a casino manager for over 20 years and can tell you with certainty that he is wrong. Playing Baccarat you would lose 50cent for every $100 you bet? Wrong… Its $1.26 loss for every $100 you bet in the long run. Also incorrect on the RFID chips. A casino also has the option to force flat-betting for suspected counters, as counters make money by increasing betsize on high counts.
Stephen Parkinson
May 20, 2023 at 3:36 am
There are no “professionals” in casinos. Even if you’re card counting, they’ll just use a shuffle machine where the cards are put straight back in the deck.
EwokPanda
May 20, 2023 at 6:32 am
If you’re wondering how to figure out what bank value becomes +EV on a progressive slot machine, you need to know your odds of winning on that machine.. You can then calculate “the amount per play * number of plays needed to reach those odds” and figure out the amount. Usually you’d want the value to be quite a bit higher than that cost, as odds aren’t a gaurantee.
james overholt
May 20, 2023 at 7:23 am
Knowing how excited i get talking odds. Im dying to know how much of this ended up on the cutting room floor
james overholt
May 20, 2023 at 7:29 am
Proud/ ashamed to say i learned nothing…..i gambled a lot in my 30s….well, the odds on baccarat was new. But cmon, no one plays baccarat
Adnan Cusic
May 20, 2023 at 8:50 am
Somebody is really really into losing money on slot machines
Monkey
May 20, 2023 at 9:19 am
If i actually left a casino any time i was up id actually be up all time. Nearly every single time ive gambled at SOME POINT i made my money back but its not leaving that blows it. Its so much fun though i dont mind.
nesk
May 20, 2023 at 11:25 am
One has to be a bit of an idiot to even go to a Casino in the first place.
wholeNwon
May 20, 2023 at 11:44 am
The warped psychology of stock speculation is similar.
M H
May 20, 2023 at 12:14 pm
Dealer signature isn’t bad on roulette. Been playing roulette hardcore for 25 years (no other games) and I can say that a modified martingale strategy combined with dealer signature on certain dealers is pretty good.
Timothy Quinn
May 20, 2023 at 1:53 pm
Spent 1$ in a casino in the 90’s just so I can say I did. Never went back. I make money in the real world with skill and good decision making.
juan lee
May 20, 2023 at 2:11 pm
as a gambler who pays slots all the time.. they always think they win.. why? cause they only remember their winnings..
Jun
May 20, 2023 at 2:25 pm
Q: How do Casinos lose money?
A: Ask Trump.
Dylan Bushe
May 20, 2023 at 2:26 pm
I love how he basically goes ‘you make the most money in poker when you play against people that are really bad. Also, sidenote: my friend created a software to track really bad poker players online so he can make a lot of money’.
Muhammad Zeeshan
May 20, 2023 at 3:11 pm
This dude is proper intelligent 👌
bluehuman
May 20, 2023 at 3:35 pm
When they added a ’00’ slot to roulette to make it ‘american style’ at the casino i stopped playing. Two green slots on the wheel make it unfair IMHO.
Nobar JKO
May 20, 2023 at 8:11 pm
This, 1000%!
Andrew Fallon
May 20, 2023 at 3:47 pm
Monte carlo algorithm is what’s also used in the quantitiatve trading platforms at companies like Citadel and DE Shaw.
emaster01
May 20, 2023 at 4:59 pm
As a mathematician who has studied the martingale, I am triggered by god explanation. The martingale does not win. Even if you have trillion $ it still loses. It’s a losing algorithm.
Limin
May 20, 2023 at 5:16 pm
This dude’s hand gestures is like Lewis Black
Benjamin
May 20, 2023 at 5:17 pm
If an AI was trying to spott your tells. I would feed it tons of false positives.
M C
May 20, 2023 at 6:18 pm
The best game if you know what you’re doing is poker, though Blackjack can be good. The trouble is that many casinos have changed the rules at their blackjack tables to mitigate the edge skilled players are attempting to create. The best way to win in a casino is to not play against the house. That said, rakes have gotten a bit out of control in many poker rooms.
VFM
May 20, 2023 at 6:35 pm
Penny slots makes the casino the most money
Bray Ness
May 20, 2023 at 7:37 pm
8 reds in a row is (18/38)^8, not 1/2^8
Dilpreet _
May 20, 2023 at 8:06 pm
part2
nowwwwww
Austin Rawlins
May 20, 2023 at 9:23 pm
high skill poker players can make more than $1.5-$3 per $100 in and they dont get kicked out for perfoming too well
Marvin Li
May 21, 2023 at 3:03 am
Is it just me or did he get the odds of 8 reds in a row incorrect? Or was he just ballparking
Jonathan
May 21, 2023 at 3:53 am
i wish he talked about sic bo, chinese game based off of 3 dices combination betting style, house has no edge other than you losing on probability
Glenn S.
May 21, 2023 at 6:06 am
Great video! Small point, but the chances of rolling red in roulette is 18/38 on a standard double zero roulette table, so getting eight reds in a row is about a 0.25% chance. 1/256 is about 0.39%
spornge
May 21, 2023 at 6:25 am
not to mention 12 is a horrible hand, the one best part is if you are playing where five cards is an auto win some casino have a higher pay or a win if you get to five cards or more and beat the dealer.
Todd MacAdam
May 21, 2023 at 6:36 am
This is VERY wrong. Skilled players will make the most playing poker. Unskilled players will lose the most also playing poker (since they’re effectively paying the house and the winning players).
StevieTheSpring
May 21, 2023 at 7:03 am
I think even worse than slots as far as edge go is the moron wheel.
Red Foreman
May 21, 2023 at 7:15 am
11:03 wow… this explains my addiction pretty well .
kiwee
May 21, 2023 at 7:39 am
You should invite daniel negreanu next
bobby galyon
May 21, 2023 at 7:47 am
The guy that lost $400 on roulette because it rolled 8 reds in a row, should quit gambling. He lost because he chasing it to land on black, when the math was suggesting he should bet on red. If I walked up to a roulette table and it rolled 8 reds in a row id bet my money on red for the 9th spin because it just showed it landed on red 100% of the time since I was there for those 8 spins I watched. The problem is most people would over think this and gamble that black is coming when in actuality they just witness black showed 0% of landing while red landed 800% of time youve witnessed since walking up to the table. Why bet on a 0% chance youve witness a black has to come when youve witnessed it roll red 100% on the time in 8 spins. Follow the math not always the instinct. Math puts you a better chance to win or greater odds to get lucky. Instincts just make you feel like you knew and had control over something when you actually had no clue youd end up getting lucky.
Joel Willis
May 21, 2023 at 8:34 am
A15 year old that can do basic math would have answered this question.
kahlzun
May 21, 2023 at 9:26 am
I’ve had fun at a casino before. The trick is to think of it as spending money, the same as you would at a cinema or something. If you walk away with a win, thats a bonus. Otherwise, you’re paying for the thrill of the risk.
Allan Turmaine
May 21, 2023 at 9:27 am
I know a guy whose job it was to make sure that slot machines were unriggable and horribly random. They’re hard programmed to rob you.
DD
May 21, 2023 at 9:47 am
So if you’re a really good player, they will just kick you out using transpass laws. So everyone else inside are suckers. What a load of crap. Reminds me to never step inside a casino again.
DD
May 21, 2023 at 9:55 am
So it’s a question of Math….
DD
May 21, 2023 at 9:56 am
The MOST IMPORTANT Question: Do Casinos CHEAT?!
Bob Bilheimer
May 21, 2023 at 9:58 am
“The only winning move is not to play. How about a nice game of chess?”
—-Joshua
LysandersTreason
May 21, 2023 at 10:43 am
It apparently took 18 people to create this 14 minute video. No wonder companies like Conde Nast (which owns wired) are having to shut publications. If they aren’t cranking out at least 5-10 videos like this per day there’s no way paying all those salaries could be profitable.
cod the creator
May 21, 2023 at 11:13 am
Video does not answer the question in the thumbnail. Clickbait.
Andrew Dela Calzada
May 21, 2023 at 11:35 am
Wow
Flöckchen
May 21, 2023 at 12:06 pm
Why did you decide to photshop in the chips on the left. And why did you do it so bad…
steven chain
May 21, 2023 at 1:10 pm
He looks like he wants to d-d-d-duel in the thumbnail
Simrealism
May 21, 2023 at 3:15 pm
I’m glad you summed him up as “pro-card counter” because he never amounted to anything academically, and he was not involved in any of the masterminding. He was just on the team for a little while. Which had many many members over a span of about 20 years.
Eric Schiedler
May 21, 2023 at 5:18 pm
Excellent presentation in such a short period about general statistics, probability, and game theory concepts.
CowSaysMooMoo
May 21, 2023 at 7:36 pm
Live Keno in general has a lower payback percentage than slots….so, he is generally not correct.
Michael Galt
May 22, 2023 at 8:37 am
That was the most enlightening of the gambling related insider stuff I have seen. Short version, unless you are an EXTREMELY good player, 100% do not play in casinos.
Aziz Kozmaqi
May 22, 2023 at 8:41 am
Look at his face…He is doing gambling advertisement.Shame on you.
Rotowski
May 22, 2023 at 9:01 am
The best way to leave a casino with a small fortune, is to go into the casino with a large fortune.
Christacious
May 22, 2023 at 9:12 am
I love baccarat but I’ll never gamble again
Steve P
May 22, 2023 at 9:17 am
What he’s forgetting to tell you, when the count is high, you will get the crummy cards with large bet out there and the dealer and everyone else will have 20s or 21s and this can go on for 5 standard deviation eve ten fold and then when you lose 1/2 your bankroll will either shuffle up in middle of shoe or ask you to leave, counting is fun eh
p l
May 22, 2023 at 12:08 pm
Walk around the blackjack tables drinking something look for a table where the dealer is losing and you don’t see any face value cards , play a couple hands , leave the table look for another , you don’t have to count multi decks , watch a couple of hands an count the table , play with a dealer that’s losing and the count is in your favour till it’s not anymore . then play craps till you get your poker seat and do what really matters 🤣
Gabriel Powers
May 22, 2023 at 9:17 am
I saw something you NEVER see in a Casino the other day. Roulette table, guy has money on black. Wheel hit a red 7. She’s pays him first, (with his black bet?) and then all the others that hit. I didn’t say anything about it and neither did the guy that “won.”
Crushed Scouter
May 22, 2023 at 4:31 pm
As someone who has worked in many casinos, you see this kinda thing literally all the time lol
Gabriel Powers
May 22, 2023 at 6:00 pm
@Crushed Scouter OK then. Well I never saw it before. I guess you see enough plays it’s bound to be seen.
Crushed Scouter
May 22, 2023 at 6:12 pm
@Gabriel Powers definitely. You’d probably be shocked at some of the egregious mistakes witnessed regularly
RoyTuBe
May 22, 2023 at 11:09 am
man 李宇春 in this house
VP Pete
May 22, 2023 at 12:10 pm
His answer to question #1 is wrong: baccarat has a house edge of 1.06%, or about $1 of every $100 you wager, not 0.5%. This is for the better Banker bet.
Also, Craps with full odds (6x on the Don’t Pass) is under ~.25% of the total amount wagered across all bets. Seeing as how there are still $5 and $10 tables, this would be less effective edge than a $25 baccarat table. Also bets resolve in more time, so you lose less money per hour spent at the tables.
VP Pete
May 22, 2023 at 12:14 pm
Answer to question #2 is also wrong: Big Six/the Money Wheel can have edge as high as 22% (min 11%). Live Keno can have paytables as bad a 25-30% house edge. Slot machines typically don’t have edge exceeding 15%. Granted, as the spins take less time, you total amount wagered per hour can be much higher than slower games.
VP Pete
May 22, 2023 at 12:20 pm
The answer to the roulette question is also incomplete: biased wheels is one way, but the other was developed @ MIT — the first “wearable computer” where Ed Thorpe and Claude Shannon developed a computer which could solve for likely quadrants that a ball would drop into. The thesis behind the idea being that, if all information is available, the path of the ball could be modeled and likely drop areas calculated.
Newer tables have a motor that add an additional amount of rotational speed after “no more bets” is called, to defeat these Wheel Clocking techniques where one can, even without the aid of computers visually calculate the ballistics trajectory of the ball (relative to the wheel).
Noah Doss
May 22, 2023 at 12:27 pm
You don’t need a simulation for blackjack, you can just calculate the house edge, same with roulette
CHRIS MARTIN
May 22, 2023 at 12:29 pm
For the life of me I cant figure out how people spend their time and money in casinos. Blows my mind.
chubbs 500
May 22, 2023 at 12:29 pm
this is why i love asians
Noah Doss
May 22, 2023 at 12:47 pm
Those roulette odds were flat wrong, they ignored 0 and 00. (19/9)^8 > 256
Sproggs
May 22, 2023 at 12:53 pm
So basically the only slot machine worth playing is Quick Hits. Got it! 🙂
Ubiquitous
May 22, 2023 at 12:55 pm
Firekeepers in Michigan
Roulette hit Red 9x in a row
When I saw it I bet $25 and kept it on till I hit $400 I left after
jeff morgan
May 22, 2023 at 12:56 pm
I cant figure out why you dont split threes against a 7 but do against a 8
Tolu Michael
May 22, 2023 at 1:10 pm
Gordon Hodgson
May 22, 2023 at 1:26 pm
Outstanding!
Henry Krinkle
May 22, 2023 at 2:29 pm
What kind of fool goes to Vegas to gamble (lose) their money?
Crushed Scouter
May 22, 2023 at 4:19 pm
The dumb gamblers who go “waaaah why don’t they let me count?? Its not illegal, I’m just good!” are embarrassing. You realize if casinos let players count, they’d have to all have countermeasures perpetually in place, right? So there’d be no counting for anyone. Lol some people are so stupid.
Max
May 22, 2023 at 4:45 pm
The best way to walk out of a casino with $1 million is to enter the casino with $10 million
Brian Wang
May 22, 2023 at 5:17 pm
For some fancy building, the odds of losing 1 or 2 dollar every 100 is very reasonable, consider the security staff, the buffet, the janitors etc.
I legit wonder how do they make money.
Kevin Colt
May 22, 2023 at 6:28 pm
He didnt mention you can win at the roulette always betting the same color using martingale system.
Have enough money to cover martingale for 10 rounds, odds the same color will hit for more than 10 times in a row are extremely slime.
Also make sure you can bet as much as you need to win in 10 rounds, some roulettes have lower limits to prevent this.
Warren Snook
May 22, 2023 at 7:55 pm
I’m a math and computer science teacher who worked as a dealer and floor supervisor during my college days.
These are all spot on. 👍🏻
Howard Tung
May 22, 2023 at 7:56 pm
I always play basic strategy…I believe in playing the numbers, not emotions. You wouldn’t believe how many people hiss at me for hitting my soft 18s vs 10s and As.
Tejas
May 22, 2023 at 11:01 pm
just buy stonks instead it’s better
USMC13
May 23, 2023 at 12:01 am
I liked “Let it ride” because you’re able to pull back two thirds of a 15 dollar bet if the cards turned are not in your favor.
Adrian Mainz
May 23, 2023 at 1:41 am
This video is a commercial. This guy is humanizing casinos, he is giving people the fake hope that they could somehow cheat and win. Casinos will kick you out long before you win with whatever delusional system you have. Simply entering a casino makes you at risk of becoming an addict. And people have been trying to cheat casinos for 200 years, nobody has yet found a way to put casinos out of business.
Ahmed Mostafa
May 23, 2023 at 7:31 am
For amateurs, the reasonable way to go to casinos is by deciding how much money you’re willing to lose ahead of time, and thinking of that amount as a fee for entertainment.
Ryan Wilson
May 23, 2023 at 8:40 am
Roulette is the best i’ve found .
doğacan atalan
May 23, 2023 at 8:42 am
half of the green chips are shaking but the other half is not. WTF is going on
Logic Lab
May 23, 2023 at 8:58 am
Martin Gale is actually only a winning strategy with an infinite bankroll as over infinite bets a losing streak long enough to bust your roll is inevitable even if there were no table limits and your bankroll is 1 billion and starting bet $1.
alex Ch
May 23, 2023 at 2:13 pm
time to move on to more complicated things like chip counterfeiting, slot machine hacking/destroying and other such things.
RobinHood3000
May 23, 2023 at 3:32 pm
People ignore statistics in casinos because it’s more fun that way. They are, by and large, exchanging money for an entertainment experience, it just happens that the ticket price is variable. And not all of them realize that that’s the proposition they’re buying into 😅
Nef
May 23, 2023 at 4:45 pm
This is fascinating. What I do and this works great for me but is extremely unsatisfying is start with a fixed amount, like $200 and the second I win a good hand and I’m over that starting amount I quit and watch other people lose their money. *NEVER gamble money you cannot afford to lose on the spot.* If you can’t do that gambling is not for you, do not go.
PS those subtitles are annoying. If you can’t understand this guy you’re an idiot.
Just Me
May 23, 2023 at 4:57 pm
Back in 2014 I went to a trade show in Vegas and decided to take a chance with $100 on an electronic roulette game. I bet on black and stayed there. Hit 7 reds in a row. I know how low the odds would be for that to be random, so I 100% believe the casino was cheating.
Games That I Play
May 25, 2023 at 3:46 pm
The unfortunate part about red or black is people think it’s 50:50, but nope 48:48.
NaturAL
May 23, 2023 at 5:30 pm
“Best slot is right here, $1 for 4 of coin. Hits Everytime, Told Yaaaaaa” Dr Steve Brule
Jak Overslept
May 23, 2023 at 7:18 pm
I play craps because its fun. I have never understood people sitting at slot machines, its way too boring for me.
J S
May 23, 2023 at 8:52 pm
This was a great video, this guy rocks.
pixxyevil
May 24, 2023 at 5:17 am
your closed captions are not time coded and it shows it all up front at once. Just a heads up!
Philip Wong
May 24, 2023 at 5:32 am
As a Baccarat player and one who wrote a book on Baccarat, I find your video very informative however, the pace is way too fast to absorb what you are saying. Thanks for posting this as I learnt something. Would be nice if you could post a video on how to win in Blackjack.
Leonardo Serrano
May 25, 2023 at 12:28 pm
i want to read that book, I am a consecutive baccarat player but the only technique that I use is to see if the package has similarities and repeat them, for example if the point always repeats then I put more money in the repetition of the next time I hit the point, however I lose more times that I won playing like this and I would like to improve the technique to win more
Matt M
May 24, 2023 at 10:38 am
One thing I never understood is before smart chips, why didn’t more people just counterfeit a casino’s chips, play for a short while, and then move on to the next casino.
Mr Fister
May 24, 2023 at 1:10 pm
I think he needs to rethink his odds of 6 reds in a row in roulette
Daniel Richwine
May 24, 2023 at 4:22 pm
People love to gamble because they think they are getting something for nothing. They think they are cheating the system, winning against the man. Even if they know this is not correct, they get a rush of spending $10 and winning $1,000 which is so high they are quite willing to spend $10 500 times to achieve it.
Bee Dot
May 25, 2023 at 1:30 am
Tell him to say twitter again. Its so cute.
G
May 25, 2023 at 2:21 am
I heard that if you don’t bet you have a 100% win ratio.
Nyenne Stils
May 25, 2023 at 2:33 am
Ah yes, Chung Li. First we battle Guile then we clean house at the Caesar’s Palace.
ClamperDrew
May 25, 2023 at 4:05 am
Where can I get that fish finder for poker tables?
VideoGameVeenok
May 25, 2023 at 6:56 am
My uncle actually gamed a progressive machine. He watched an old lady lose for an hour and quit. Hopped on the machine and got 1500 in the matter of like 5 minutes.
Games That I Play
May 25, 2023 at 3:44 pm
That’s supposedly what J-Lo’s mother did when she won the giant jackpot, but in her case she had to watch it for days.
Terrance Sweetman
May 25, 2023 at 8:44 am
Slot machine are a scam never do slots very rare to get a jackpot
Joseph L.
May 25, 2023 at 9:58 am
I don’t think that’s the primary reason why there’s table limits. Even if you were a billionaire, you would be netting 1 dollar on the winning hand.
The reason is more likely so the casino can payout on high stakes bets where the player won big.
If a billionaire bet 10 million on double zero, and it landed, they have to hand out 350 million which they likely don’t have on hand.
LunarcomplexMain
May 25, 2023 at 11:28 am
It’s funny because even if you use the Martingale strat, you only make back your first initial bet lmao
Karl Lansing
May 25, 2023 at 12:27 pm
I think the best odds are the high low. game. two cards. high wins. thats the best odds.
Whayls
May 25, 2023 at 12:51 pm
Lol the cards and chips are fake – 2:39
james pappas
May 25, 2023 at 1:23 pm
Explain if the conditions that I should stay on a three card 16 versus a dealer Ace or 10. Please.
Tang Dy-nasty
May 25, 2023 at 2:09 pm
This guy like a legend. Legit a movie was made out of them
Devdog7
May 25, 2023 at 2:58 pm
6:55 It’s not really to stop the martingale betting strategy (though it does) because they know eventually the player will go on a losing streak and they will get their entire bankroll. It is more to cut down on variance. If someone goes in and bets a million on one outside bet in roulette, then the law of big numbers hasn’t really come into play because it is only one bet. The player has a pretty good chance at winning and then walking away with a million. By having limits it forces them to play more rounds to win a substantial amount of money and thus the law of big numbers kicks in.
Games That I Play
May 25, 2023 at 3:39 pm
The casino I worked at had a plaque on the wall that said 93% payout for slots.
HAEKAL
June 7, 2023 at 3:55 am
Casino chips.png
Will Yum
June 7, 2023 at 4:25 am
best poker strategy is apparently git gud. Love it
peppygrowlithe
June 7, 2023 at 6:15 am
These are really well-explained. He explains these sometimes very complex things in a quick, straightforward, intelligent way.
Matthew Brealey
June 11, 2023 at 3:30 pm
too many errors:
* house edge of baccarat is 1%, not 0.5%
* best odds in the casino for dumb player is technically craps, because the odds bet has no house edge and the pass/don’t pass bets stay on the table for multiple rolls (at 1.4% HA)
* the number for blackjack edge at the beginning are weird; not as much as 3% (unless it’s 6:5 bj), but below 1%
* house edge for casino games calculation is deterministic, not Monte Carlo/RNG.
* Martingale is not reason for bet limit, but simple risk reduction.
* Volatility of slots wasn’t answered
* Casino games aren’t rigged, he should have challenged that
* he got the odds of 8 reds in a row wrong (18/38^8, not 1/2^8)
pranay0209
June 7, 2023 at 8:15 am
yesterday I went to big daddy casino goa….Bought chips woth 300$ and 4 hrs later walked out with 2000$….so winning is possible guys….its not always losing….if u manage and are a bit skillful….!!!
Stuart Dalrymple
June 7, 2023 at 8:23 am
At the start of the video, he mentioned professional blackjack players could win maybe $1.50-$3 for every $100. But then with the strategy section, he said if you memorised the ‘perfect play’ card, you could minimize your losses to $0.60 in every dollar.
So what is the professional doing that the ‘perfect play’ card isn’t?
xZyrux
June 7, 2023 at 4:24 pm
In the strategy section he refers to just playing optimally, for example when bank has a 6 and you have 10, you should take a card.
This is without the additional info of counting, thats why no profit.
Others Sing puree
June 7, 2023 at 11:12 am
There are certain shows and buffets in cool casinos. Just spend time there, you will make the casino lose money on yourself.
Incompetence Logistics
June 7, 2023 at 7:28 pm
Why are the cards and chips composited in?
ObiWonton
June 7, 2023 at 11:52 pm
WOW Masterclass but I disagree on craps make consistent money always bettering on 7 it’s the casinos bet and the house always wins
Jack Jedlicka
June 8, 2023 at 12:18 pm
Love the MIT guys. Colin taught me everything I know, and you all were part of his inspiration. Thanks for everything!
Otto Kasbauer
June 8, 2023 at 12:45 pm
10:55 odds are actually a little worse cuz of the greens
Z W
June 8, 2023 at 1:14 pm
Look at his hand at 2:40 bottom left
LameErrorOne
June 8, 2023 at 2:43 pm
I see double “The” in the title, I’m interested.
S3rj
June 8, 2023 at 2:57 pm
Slot machines make the most money.
Kza
June 12, 2023 at 11:58 pm
Just like tooth faries
RR SS
June 8, 2023 at 2:57 pm
How about Niko Tosa? I wonder how would Yuchun Lee explain his story
RR SS
June 8, 2023 at 3:01 pm
i’d love to watch q&a with a professional sportsgambler/capper/bettor/wagerer
NoticeDesign
June 8, 2023 at 11:53 pm
I like how people think counting cards is some super in depth mathematical formula. It’s just a simple plus / minus system as the cards are played to let you know if the cards remaining are heavy or light on face cards. Anyone can do it. The formulas floating in the air in the hangover have absolutely nothing to do with it.
Mario Cukusic
June 9, 2023 at 11:03 am
I dont get how you cant win in rpulette
Nielen Emhof
June 9, 2023 at 12:29 pm
There’s no trick to winning roulette??? WHAT.
Kza
June 12, 2023 at 11:51 pm
Its one of the most random things in the casino, why youre so surprised
Idek
June 9, 2023 at 4:41 pm
Bro they made a movie about the MIT thing I forgot 😭
joshua miller
June 9, 2023 at 7:24 pm
this guy rocks
Daniel Hale
June 9, 2023 at 8:23 pm
My winning casino strategy, which has always served me well, is to not go to casinos.
blood hunter
June 11, 2023 at 5:07 am
My friends always say black has to come when ir has been a lot of reds becaus eof statistics.
I alway dtell they are idiots
Mae Milev
June 11, 2023 at 11:31 am
My friend jho low uses the doubling down technique when loses to win games in casino.
Knave the Dave
June 11, 2023 at 12:46 pm
What is funny is that simulations are literally 7th grade math.
Scott Struble
June 11, 2023 at 3:17 pm
Some casinos pay 6 to 5 on Blackjack instead of 3 to 2.
Just don’t go to those casinos.
Kieran
June 12, 2023 at 9:18 am
Card counting isn’t even a skill lmfao it’s basic math. Everyone and their dog can do it.
The movie 21 *literally* teaches you how to do it 🤣🤣
Kza
June 12, 2023 at 11:49 pm
What is a skill, and what that guy probably did, is to calculate when its actually profitable to start betting, and this happens before you even sit at the table. Executing the algorythm is not the interesting part
Kieran
June 12, 2023 at 11:52 pm
@Kza The deck is hot when the count is 18 or higher. Simply multiply when there’s more than one deck. It’s not rocket science lol
Nit TheGrit
June 12, 2023 at 3:35 pm
Any edge you think you have over a casino is only temporary.
Bipolar Mind Droppings
June 12, 2023 at 6:07 pm
How do you lose money running a casino?
By mis-management. Trump has bankrupted multiple casinos, he’s a pro at it.
Kay's Lah Life
June 13, 2023 at 1:58 pm
The best game if you have skill is poker, bad players literally give you money.
Well Endowed Penguin
June 13, 2023 at 5:55 pm
How is Baccarat better than BJ? It has a higher house edge.
torgo4ever
June 14, 2023 at 9:38 am
How is the sportsbook not the best odds in the casino ?
Ramonatho
June 14, 2023 at 12:17 pm
That point about a true gambler is someone who loves winning more than they hate losing really rings with me. A lot of my friends are gambling addicts where when I’m out on my money at the casino I don’t go back to the ATM.
busfahrer09
July 3, 2023 at 5:20 pm
I’m not surprised the coder who made TableScan Turbo went to MIT. I made bank with this tool, thx.
Allan Fifield
July 4, 2023 at 4:40 pm
Way back when, didn’t blackjack pay 2 to 1?
Tino DiCenso
July 6, 2023 at 7:08 am
THE CARDS ON THE TABLE ARE FAKE
Cowboy
July 7, 2023 at 10:36 am
I never understood why blackjack doesn’t involve reshuffling every hand if you aren’t supposed to count cards. Wouldn’t that be the only reason not to shuffle?
Texas Hold’em doesn’t have that issue since they shuffle the deck between every hand.
dictionaryofwords
July 10, 2023 at 12:22 am
I love grambling. I found a grambling machine at a casino that paid out every single time. You insert a dollar bill, and it spits out 4 quarters
Robert E. Lee
July 10, 2023 at 9:54 am
I played the texas hold em table game at a casino. I was at the table by myself. I lost 22 hands in a row. What are the chances of that?
Ashtray360
July 10, 2023 at 11:15 pm
lol slots are the biggest winners for casinos
Turbix
July 12, 2023 at 2:47 pm
Eyy BJA’s Chart. Love it
Cheapie
July 13, 2023 at 7:35 am
Gosh. Knowing all this, I sure would be embarrassed if I ran casinos and had to declare bankruptcy, say, 5 times.
Brian Rigsby
July 13, 2023 at 1:15 pm
5:39 do you actually count the number of card left in the deck or something? Or is it a different kind of counting?
mQB3GofJzKKo7nZx
July 13, 2023 at 7:24 pm
So basically the only way to make money gambling is to find someone stupider than you.
ExtremeForever
July 14, 2023 at 2:41 am
Why not talk about the odds of BACCARAT? There are different versions with all these stupid bonus and side bets, but it’s supposed to still have one of the best odds right behind blackjack. I haven’t beat that game over the long run, but it would still be interesting to hear this guy giving mathmatical probabilities on beating that game.
Tony Trott
July 15, 2023 at 2:38 am
the best strategy with gambling is do not gamble
SirBilliam
July 15, 2023 at 8:28 am
7:33 “Unfortunately, you can never win in crap [sic]” LMAO real AF (ik he meant to say craps, hence why I put [sic] in the quote, and in case you didn’t know that means it was a direct transcription even though it was grammatically incorrect)
Yang Ji
July 15, 2023 at 9:36 pm
没人注意到他的名字吗？
Corey Lee
July 15, 2023 at 11:02 pm
it is far more complicated than “turning a dial” to adjust the payout on a slot machine.
John Wusah
July 16, 2023 at 6:20 am
He’s the guy that Kevin Spacey whitewashed in the movie.
thePointed turkey
July 16, 2023 at 11:43 am
Good videos
Andrew Zielinski
July 16, 2023 at 3:24 pm
I did incredibly last night, walked I to a casino for my mates stag night with 300 dollars, walked out with 303 dollars, in your face casino!!!
mtnairpilot
July 17, 2023 at 9:17 pm
I found a single 0 roulette wheel on a cruise ship of all places recently. Won a few bucks. 👍🏻
Rudy Comer
July 18, 2023 at 5:22 am
10:54 This is really profound actually, and helps me understand gambling addictions way better
CJ Meiko
July 18, 2023 at 4:44 pm
Have a good time. Just remember ‘the House’ always wins. Whether it’s your time, money or whatever; know this.
Mahmood
July 18, 2023 at 4:49 pm
Great video
Just Me
July 18, 2023 at 8:03 pm
how avoid loosing money on a casino? don’t go to one, easy and works 100% of the times
Bioscar Roque
July 18, 2023 at 11:06 pm
I saw 16 reds in a row. It busted my system.
Mr New
July 18, 2023 at 11:08 pm
The only way i enjoy Vegas is with giant bets 1 or 2 times. Keep the number of bets low and only on table games.
Dreadn0ught
July 19, 2023 at 2:16 am
Butchered the slots explanation. 80-99% payout of all the money taken in. Basically you’re wanting others to lose and you’re wanting to scoop up that 80-99% of what they’ve lost without putting in too much money. This is for standard, non-progressive slots.
Source: Worked for an online slots dev house for 10 years.
David Reade - Evans
July 19, 2023 at 4:49 am
“How does a casino loose money”
See… when the economy is bad (like right now) the casino still has to pay it’s staff. It still has to put on events, it still has to make banquets for guests, it still has that side of .. everything!
But if not enough people are spending money there.. it looses money!
… or they could launder money through illegal means.
and have the Australian Regulator crack down on them…
that’s a good way to require bankruptcy!
Luke S
July 19, 2023 at 1:13 pm
I really hate people’s over reliance on the monte carlo simulations. You really need to run the simulations to say why two aces or two shots at 18 over a 16 hand is good for winning at blackjack?
Yeah, it’s a game changing concept, but some of these games can be figured out completely if not situationally with logic and theoretical odds lol, at that point the benefit of the experimental result to the learning process is pretty questionable, it doesn’t help you understand the game much better compared to a rigorous explanation
Duke
July 19, 2023 at 3:18 pm
Minor quibble: Nevada changed the rules on slots so that they can pay out as low as 75%, not 80%.
R F
July 19, 2023 at 7:35 pm
Eight reds in a row have these approximate odds:
A single-zero roulette table is about 1/319
A double-zero roulette table is about 1/395
A triple-zero roulette table is about 1/486
@justaguy328
March 17, 2024 at 12:49 am
So you have to pay to get your questions on these. Now i understand.
@razzamattaz179
March 17, 2024 at 5:45 am
8 reds in a row answer is wrong. That was the probability of 8 reds in a row. Odds and probability are not the same thing. It’s a shame he didn’t take the time to explain that.
@MegaJackolope
March 17, 2024 at 6:59 am
Going to apply this knowledge to my Balatro games
@OldNewsDaily
March 17, 2024 at 7:33 am
Well thats very obvious… even if chances are in your favour there’s always a small chance one big winning bet can take you out of bussiness..
@RandomAmerican3000
March 17, 2024 at 10:20 am
The casino near where I worked offered free soda.
I went to the casino a lot, never played a game, still came out ahead.
@goldplaybest
March 17, 2024 at 12:19 pm
Gambling is a complete waste of time and money
@J0Ecorreia
March 17, 2024 at 12:55 pm
Thanks Luncheon lee
@ZYZZinVR
March 17, 2024 at 5:28 pm
how to get even odds at craps: select no roller. I did this at the casino and the dealer said they never saw someone do that before and i had to remind them I wasn’t rolling…
@Goztepe-uf6si
March 17, 2024 at 6:35 pm
Whole thing is designed to take your money and people still go gamble. It’s wild.
@vojta1550
March 17, 2024 at 8:24 pm
Table limits definitely do not exist because of Martingale. 😀
@zeldafansonly7484
March 17, 2024 at 8:48 pm
1:45 Dana white has been kicked out of 2 casinos for winning too much
@NunYa953
March 18, 2024 at 12:36 am
I own a casino and id like to thank you all for everything.
@Jealod24
March 18, 2024 at 1:31 am
The game you should play if you’re intelligent and have skill is poker
@wakcedout
March 18, 2024 at 2:20 am
I only walk into a casino with an amount I’m fine losing. So that could be 80 bucks or 100 bucks. And knowing I’m spending so little I know my odds are low. But I’m just going in for some random fun with a chance at a slot machine to win something. Kinda like a scratch off ticket, done once in awhile it’s fun.
The “gambler” are those who spend rent money they shouldn’t be spending in hopes to double it.
@jonaswox
March 18, 2024 at 4:12 am
You should be able to explain that in 30 seconds. And why does MIT have a “card counting team” … ?
@quineloe
March 18, 2024 at 8:36 am
Can’t casinos just play with multiple decks of cards, and some of them incomplete, to make counting harder/impossible?
@GK-gc9cv
March 18, 2024 at 3:54 pm
That’s cheating if there are incomplete decks. Not saying casinos don’t cheat but they can’t legally put in place a system like that
@zwenkwiel816
March 18, 2024 at 9:21 am
Cuz casinos are a scam
@TheFlairRick
March 18, 2024 at 11:17 am
Why don’t casinos have several shoes of cards that they constantly change out to completely prevent card counting, rather than use the same shoe and not change it out?
@GK-gc9cv
March 18, 2024 at 3:53 pm
Because it’s unnecessary. Most players don’t count, most the ones who do count don’t do it right or well enough to hurt the casino, and if they identify someone who is gaining a material edge they have plenty of tools to deal with them, such as swapping to a continuous counting machine or making them bet flat etc. I’d guess less than 1% maybe even less than 0.1% of players have a material edge so there is no point implementing a change for everyone when it’s not needed
@benbaggen2375
March 18, 2024 at 11:19 am
The thing he’s not telling you is. Yes there are laws for slot payouts, but the fine for breaking this law is cheaper then the amount they would pay out for having better odds. Almost all casinos in Michigan pay the fine so they can have better odds.
@SupraSav
March 18, 2024 at 11:28 am
Baccarat? Hmm. I always figured it would be the war table. Not sure if all casinos have it, but it’s essentially 50/50. I guess that comes down to how hot the deck is.. so if you can card count, all the better for you.
@solracer66
March 18, 2024 at 12:44 pm
I don’t usually gamble unless the amounts are very, very small like a couple of dollars, to me it’s just as entertaining watching others play. I was with some friends at a casino who were playing craps, a game I knew little about. The older woman next to me offered to teach me a game and spotted me a dollar. At this point my friend crapped out so now I am rolling too. I had the most incredible streak and rolled for somewhere between 45 minutes and an hour without crapping out. They kept swapping dice on me and it made no difference. At one point I even hit boxcars three times in a row! When I finally crapped out I had worked up to $72 dollars and the old lady had made hundreds betting on me, probably the best dollar she had ever spent. I knew it was special when the floor manager later came over to check on things and the dealer said “You missed it”, the manager said “Missed what?” and the dealer replied while shaking his head “Ohhh, you missed it!”, lol! I’d made $50 on a $0.50 slot bet the night before too so I came out way ahead that weekend. I haven’t played since because what’s the point, it would just ruin a good story!
@thomaseriksen6885
March 18, 2024 at 2:15 pm
MIT has a card counting team? How embarrassing is that
@stephanschmidt2334
March 18, 2024 at 2:47 pm
Excellent explainer.
@karlheisenberg2857
March 18, 2024 at 6:14 pm
7:05 Sorry, but this is nonsense. Without a table limit, the Martingale-Algorithm would still fail, since even a billionaire can double his initial dollar bet only about 30 times. Which would give them an extremly low chance of losing but also a very small win, which the casino is not at all afraid of.
The reason for table limits is that the casino does not want to accept a single big bet that would possibly ruin them, even if the odds for winning are in their favor.
@notmenotme614
March 18, 2024 at 9:27 pm
Donald Trump is the only person who owned a casino that went bankrupt. Let that sink in
@gscurd75
March 18, 2024 at 10:32 pm
The odds of 8 reds in a row is not entirely accurate. The odds are not 50/50 but 47.4% for each time. Now the odds of 8 in a row at sometime in the future is nearly 100% given enough time but we are looking for the odds of the next 8 being red. You gave 1/256 but it is actually closer to 1/392
@losttracks7214
March 18, 2024 at 11:08 pm
So basically the martingale strategy is the best strategy since the limit is enforced for millionaires and not the common man. Which means this is good news for the common man.
@permanenttrack
March 19, 2024 at 12:06 am
that was awesome as i don’t gamble and knew pretty much nothing and left with too many wikipedia tabs open.
@Tony-T.
March 19, 2024 at 12:42 am
Tired of all these quitters in the comments who’s with me to count cards in Vegas!
@anthonybachler9526
March 19, 2024 at 4:18 am
Because without a limit people could just double down after each loss until they win.
@NeonKue
March 19, 2024 at 11:41 am
Gambling made me a millionaire. I was a billionaire before 🙃
@c7adventures376
March 19, 2024 at 1:49 pm
💥 we like to think of it like going to the Arcade as a kid. Your parents gave you a set amount. If you got lucky, you could play a long time for a few quarters. Other times it cost more to keep going. But it was about entertaining yourself. The casino is the same way. 👍🎰💰
@spencermackay9020
March 19, 2024 at 2:48 pm
That’s Kevin’s brother man.
@dekopuma
March 19, 2024 at 3:06 pm
I’d guess that part of the reason for table limits is also simple logistics. They need to make sure the dealer can handle all the normal bets without stopping to get more chips, and without needing to carry a huge spectrum of chips on hand.
@Shiva-wj6im
March 19, 2024 at 3:21 pm
How to make a million dollars at the casino? Start with a couple of million.
@MrCardrona71
March 19, 2024 at 4:12 pm
Only way to get the casino to pay out in the ling run is buy shares in it, and never set foot in it……
@jameskim6442
March 19, 2024 at 4:36 pm
As a statistics guy for a casino, I can tell you that the odds of 8 reds isn’t bad luck and more a poor understanding of statistics on the gentleman’s part. The odds of 8 reds in a row are 1 in256 but that’s at the start of the calculation. If there are 7 reds on the board already, then the odds of an 8th are only 1 in 2. There’s this online post about a girl who’s afraid of dying in a plane crash, so she finds a guy who lost a girlfriend in a plane crash, because what are the odds this guy would lose 2 girlfriends in a plane crash? The answer is, the same as the odds of him losing that first girl in a plane crash because the previous event already happened and does not factor into the calculation. The same way that 7 previous spins being red does not reduce the odds of the next spin being a red.
@joesmoth2610
March 19, 2024 at 4:36 pm
I had an amazing math teacher in 10th grade teach the class the law of probability with black jack,He would go down to Atlantic city and win enough money to pay for his bus trip.
@johnklaus9111
March 19, 2024 at 5:43 pm
because card games show the odds to the player, who can bet the casino into the ground in one bet.
51% in your favor doesn’t matter, when the player has 3 aces and a chance to force raise you to whatever price they want.
1 billion dollars…. lol…. good bye casino.
Is this a real question asked by a real human? you people are dumb…. 😂😂😂😂
@antoniomoral4831
March 19, 2024 at 6:06 pm
I study math, and I have studied the law of large numbers he is talking about.
@mrQueue78
March 19, 2024 at 6:22 pm
I am fairly certain the reason you split two eights in Blackjack is because if you do not, then you have 16 which is almost certainly a losing hand.
@lucassatie
March 19, 2024 at 6:38 pm
An “interesting” addendum: at least in Illinois, the slot machines you find at bars and restaurants can have payback rates as low as 70% at the moment and I believe there may be legislation in the works to allow them to go even lower.
@benwoodcock8805
March 19, 2024 at 7:19 pm
Martingale always eventually busts cause money is finite. If they even let you bet as low as a dollar the growth is exponential. Ok you’ll almost always win but an infinestimally small portion of your bankroll. And this is slightly more than balanced by the small chance of you busting and losing everything. Then you can no longer bet
@Istuckmyheaddownthetoilet
March 19, 2024 at 7:53 pm
One person told me never gamble with money you cannot afford to lose. I have not gambled with real or my own money since then.
@Sina-dv1eg
March 20, 2024 at 2:12 am
Another benefit of table limits is that the casino will make more money the more games are played. If a game has an 80% return, and you play 1000 games of 10 dollars each, the casino is essentially guaranteed to make 2000 dollars. However, if you play 1 game betting 10000 dollars, the casino can get unlucky and give you a lot of money, which they’d like to avoid.
@Dmarcoot
March 20, 2024 at 2:24 am
trump bankrupted his casinos, what are the odds of that?
@ekku1979
March 20, 2024 at 7:04 am
I ‘ve never played crap…unless warzone counts
@timreeves8937
March 20, 2024 at 12:58 pm
This question is a fallacy that works both ways. It misunderstands odds with large numbers equating to you as a person. Just like when people say “I do not gamble ever because the casino always wins”. No they do not with every player. They win over time, but any one person can win and win big. That is why there are limits as a big shark on a winning streak can hurt them bad. Over 100,000 players in a year the odds are in their favor, it is not on every hand or roulette spin. If you put 100 bucks on a number on roulette and hit and win $3800.00, the odds obviously were not in the casinos favor that spin.
@michaeltalley51
March 20, 2024 at 2:46 pm
If you have skill, the best game is poker. You’re not playing the house.
@internetrules8522
March 20, 2024 at 7:50 pm
10:38 he said 1/256, which would be right for coin flips. but because it’s roulette with 2 zeros i think it should be even worse. IDK how to mathematically figure it out, but i did: 18 / 38 = 0.47368421052 (the % chance you land on a red). 0.47368421052 ^ 8 = 0.00253461072. 1 / 0.00253461072 = 394.537903635. so it should be 1 in 394.537903635 instead of 1 in 256 i think. I don’t know exactly how this math formula i’m using works, i kinda just tried sending it and it worked out. here is me doing it if the chances are 50%, and it equals 256 like you’d expect: 0.5 ^ 8 = 0.00390625. 1 / 0.00390625 = 256
@shaunrosenberg4568
March 21, 2024 at 12:03 am
I always use the Martingale algorithm in play money casino games. I didn’t know it was actually a thing or had a name. I just kind of came up with it when I was a kid. Interesting to see there is a name.
@chadkartchner581
March 21, 2024 at 1:08 am
Am I crazy or is his calculation for the odds of 8 reds in a row way off. Since there are two greens the odds are not 1/2 but rather 18/38 if there are 2 greens. (38/18)^8= approximately 1 in 395
@chadkartchner581
March 21, 2024 at 1:11 am
or I suppose if this person is only betting on black their odds would be (38/20)^8= approximately 1 in 170 of losing 8 hands in a row
@cuarentas4052
March 21, 2024 at 4:01 am
“If you get a free drink technically you’ve come out ahead”😂
@notfeedynotlazy
March 21, 2024 at 9:24 am
8:18 I like the way you think
@davdin2
March 21, 2024 at 5:50 pm
I once had 18 blacks in a row it killed me. Casino will stay solvent longer then you can play.
@Nidvex
March 22, 2024 at 3:14 am
the best thing to do ultimately is to determine what you’re willing to spend… and then pull out the calculator app of your phone and keep accurate track of it AT ALL TIMES, especially since slot machines I’ve seen combine your initial placement of money with the winnings, making it harder to keep track of how much you’ve actually spent on them.
@georgelionon9050
March 22, 2024 at 3:35 am
Other reason why people go into the casino.. at least in Europe, because the money they have is “illegal” in a tax way.. they can’t do anything with it, so they blow it at the casino, some times they win and get it legalized by the way. This is an elaborate setup by the state to get most of the cheated tax back through the casino in a roundabout way.
@tron103
March 22, 2024 at 7:22 pm
You’ve activated my trap card!
@stevenmccroskey3411
March 23, 2024 at 11:28 am
I’m so confused. Are the chips and cards not actually on the table with him or were they trying to cover up something behind them? 2:39 look at his hand as he puts away the roulette wheel.
@AlexanderStoddard-mf6ho
March 23, 2024 at 9:03 pm
7:34 the game is called Craps, not Crap