To illustrate, let’s play a game. We each put in a dollar, and whoever wins a coin flip gets the two dollars. Completely fair, even odds, right? We’ll play until one of us decides to stop or someone runs out of money.
I’ll start with $1000 and you start with $10. Let’s see how it turns out.
If it helps, picture a graph where the bottom axis is number of coin flips and the Y axis is the amount each player is up or down in total. Each flip can move the graph by $1, up or down randomly. So it’s going to bounce a little, because it’s random. Some bounces will be bigger than others.
The house can offer you completely fair odds and still take your money just fine.
At blackjack? It can be the house every time. Usually it is.
To illustrate, let’s play a game. We each put in a dollar, and whoever wins a coin flip gets the two dollars. Completely fair, even odds, right? We’ll play until one of us decides to stop or someone runs out of money.
I’ll start with $1000 and you start with $10. Let’s see how it turns out.
If it helps, picture a graph where the bottom axis is number of coin flips and the Y axis is the amount each player is up or down in total. Each flip can move the graph by $1, up or down randomly. So it’s going to bounce a little, because it’s random. Some bounces will be bigger than others.
The house can offer you completely fair odds and still take your money just fine.
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