why is casino such lucrative business?
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does not people know that their chances of winning is small such that the expected winning is negative??
maths ignorance = casino industry earning ???? -
cos everyone having the HOPE tt they can win
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because when there is demand, there is supply
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I HATE casinos and I wish tomorrow ALL of them all over the world will burn to a crisp.
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do you know that we had taken lots of gamble before we were born?
1) billions and billions of sperm attacking the ovary and you won if the sperm got into the ovary --> Gamble of the sperm (one over how many billions)
2) whether mother will abort the baby --> 50/50
3) whether the baby will born healthy --> one over several thousand
4) whether a male or female --> 50/50
5) whether you are born rich or poor --> one over several thousand
6) whether you are born handsome/pretty or not --> 50/50
7) your sexual inclination --> 50/50
your primary/secondary/poly/jc/uni, your jobs, your boss, your gf/bf, your spouse, your kids, your health etc etc etc
you can see our lives are full of uncertainties, gambles and chances...
so do you blame people to take chances and gamble in casino??? -
I'm sure people know that they'll always lose more money than they win; they're not idiots. It's just fun to gamble. The money lost is sort of the cost of having fun just like how you pay to get into a theme park or sumthin.
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and IF you do win, you win BIG
not -
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Most people think go casino can make easy money what...
Hmmm.
More like easy debts to owe. -
It is very simple actually because the odd of winning is always stacked slightly in banker favour. To put it simply no matter what you play in casino, the chance of you winning is around 45% whereas the casino have 55% chance of winning.
Throw in huge amount and you can see that 5% percent can result in a lot of profit for casino, Casino never lost.
Example the routlette, you might think there is only 36 number for you to bet and that if you bet one number and you hit, you win 36 times your capital.... but no there is a 37th number which is 0. So in reality there is 37 possible outcome but your return is fixed at 36 times. So assuming you play consecutively 37 times, the bank will still win you 1 time. -
hahaha most of what is written here is wrong... buy my book bah... for your own good...
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dun be nottiOriginally posted by AndrewPKYap:hahaha most of what is written here is wrong... buy my book bah... for your own good...
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have you ever been to the casino?Originally posted by january:does not people know that their chances of winning is small such that the expected winning is negative??
maths ignorance = casino industry earning ????
its addictive!!!
i really love gambling in casinos. but of course i know when to stop. -
because everyone BELIEVES they could STRIKE BIG one day
round 1: lost
round 2: lost
round 3 : lost
after 3 rounds, they think "Maybe it's just my luck today.... tomorrow i will come again.. i truly believe i will win back all of my losses and win big!"
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I always have net loss so i give up gambling lol.
But hor i have friend who died died want to stay there to recoup loss and sometime they do. And i have friend who always earn more than they staked..
[url]And gambling is fun cos you are playing with money/fire.[/ur] -
precisely, the casino hire psychologist to design their games so that it gives illusion of high chance for the gambler.Originally posted by ceciltan:It is very simple actually because the odd of winning is always stacked slightly in banker favour. To put it simply no matter what you play in casino, the chance of you winning is around 45% whereas the casino have 55% chance of winning.
Throw in huge amount and you can see that 5% percent can result in a lot of profit for casino, Casino never lost.
Example the routlette, you might think there is only 36 number for you to bet and that if you bet one number and you hit, you win 36 times your capital.... but no there is a 37th number which is 0. So in reality there is 37 possible outcome but your return is fixed at 36 times. So assuming you play consecutively 37 times, the bank will still win you 1 time. -
ya. i went before. australian one at melbourne. and sydney also.Originally posted by dragg:have you ever been to the casino?
its addictive!!!
i really love gambling in casinos. but of course i know when to stop.
addictive meh?? where got addictive. i see the old people playing machines like robots likes that.
then those people playing in the tables ones all look like acting in those god of gamblers movie like that.
the winners of casino are those that study gambling as a profession one. they are the ones who manage to eke out a few percentage of towards their favor.
Their brain is constantly calculating the chances as the banker deal new cards. But come to think of it. usually banker use many decks of cards, making the chance of calculating less important -
sigh... y hah???
so simple ...
Coz, government give few license for it lah....
if Singapore have 20 casino, u think those casino can survive ,meh?? -
And what makes you come to the conclusion that it's 50/50? Just because the answer is yes/no, doesn't mean the probability is 50/50.Originally posted by Seven_Dragon:do you know that we had taken lots of gamble before we were born?
1) billions and billions of sperm attacking the ovary and you won if the sperm got into the ovary --> Gamble of the sperm (one over how many billions)
2) whether mother will abort the baby --> 50/50
3) whether the baby will born healthy --> one over several thousand
4) whether a male or female --> 50/50
5) whether you are born rich or poor --> one over several thousand
6) whether you are born handsome/pretty or not --> 50/50
7) your sexual inclination --> 50/50
your primary/secondary/poly/jc/uni, your jobs, your boss, your gf/bf, your spouse, your kids, your health etc etc etc
you can see our lives are full of uncertainties, gambles and chances...
so do you blame people to take chances and gamble in casino???
Go revise your probability. -
does this even need mentioninig?
