The casino secret
In recent years, we can easily see many new games at england bookmaker. In the investment community, people often say "Money doesn't just appear and disappear, it only flows from one person's pocket to another." - That is true, betting games are zero-sum games, meaning there is a total of 0, not creating surplus value for society. It's not a positive-sum game, meaning creating products, contributing like other industries. But there is one thing that cannot be denied, anyone who participates is drawn in by the lure of money. So, is there anyone behind controlling those games? This article will "reveal" the secrets behind it!
Why the casino always wins
In gambling, there is a famous saying of players that "The casino always wins." The casino, also known as bookmakers, is not created with the purpose of charity, but it is also a business model. And of course, any business model has a way to make a profit from customers to maintain and develop. And in their model, only two cases occur: one is the player loses, the casino wins or vice versa, the casino loses, and the player wins.
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As we can see, after each month, bookmakers always make a profit for themselves. That means they always win. So, what is the secret here? Many people think life is straightforward, but after each year, many "gamblers" have had to leave because they lost all their money. The reason why the casino always wins in the long run is that they always exploit their advantage in each game, even just a little bit. The casino is a game of probability, and they are the ones who created the game from the beginning with a probability always greater than 50%. So how did they do this?
A classic example is the game of Roulette originating from France. In this game, players bet on color (red and black) or low numbers (1-18) and high numbers (16/36). If the ball lands on the number/color you choose, you win. However, from the beginning, the casino added an extra slot, which is the number 0. If the spinning wheel only had numbers 1-36 with red and black colors, the odds of winning would be 50-50. With the appearance of the number 0, the probability of the casino winning is always around 54-55%.
The roulette - a famous casino game genre.
If you don't understand, imagine the following example. Suppose the house win rate is 55%. For every $1 million, the house can earn an additional $50,000 or break even. Gradually, not just one day, but 2 days, 3 days,... players will lose money because their probability is less than 50%, and that's what the casino is doing. They don't want the players' accounts to be burned after a few bets, instead, they will take the players' money slowly that "gamblers" don't know. So the question is, why is such a simple secret still causing many players to lose money?
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Why do "gamblers" still want to play despite losing money!
Many people, after knowing this secret, still do not fully understand its danger. It is not about how much money they bet but the volume each time they play, in investment it is called trading volume. Many people are willing to spend $100 to play the red-black game and think, "oh, if I lose, I only lose a small amount. If I bet $100, I only lose $5, just like a bowl of pho." However, the game is not what they think.
For example, instead of betting $100, Mr. A only bet $10 per spin. In 1 hour, the roulette spins about 50 times. In 4 hours, the number of spins is 200 times. And the truth is, Mr. A is not playing the game with $10, he is playing with 10504, which is about $2000. And if the loss rate is 5%, the amount he loses is $2000*5%=$100. And that casino game will take all the money before he realizes this. Moreover, the house also uses tricks to distract players such as placing beautiful women next to them or not having clocks or windows in the casino.
The simple secret of the house is to win the probability problem that they set f