06 July 2013

Evernote for Windows 8 Adds Business Support, Two-Step Verification

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smokegood said...

If we bet on, say, the number 15 for ten consecutive spins, there’s every chance that the number 15 would come up once during those spins.
If it did, then we’d win money (assuming we were betting the same amount on each spin).
The payout for a correct single number wager is 35:1.
So we’d lose our stake nine times when the number was not 15, but win 35 times our stake on the one time it was.
This is why luck plays such a big role in casino gambling.
Statistically, the number 15 should come up once every 37 or 38 spins (again, depending on the variant being played).
But the random nature of the game means it might come up three or four times in ten spins, or not all at in 100 spins or more.

smokegood said...

Over the long run, the laws of probability will kick in and it will appear roughly the “correct” number of times.
In the short term, though, anything can happen. The same principle applies to all casino games.
When using the roulette example above, we explained that the actual chances of winning when betting on a single number are one in either 37 or 38.
We also mentioned that the payout is 35:1. The difference between these chances of winning and the payout odds is what gives the casino it’s mathematical advantage, or edge.
Let’s say we’re playing European roulette, which has 37 numbers on the wheel.
If we bet on the same single number for 37 spins, the mathematical expectation is that our number would come up once and once only.
If this happened, we’d lose our stake 36 times and we’d get a payout of 35:1 once.

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