Gambling and Probability
In another article I talked about a particular rigged game, so let's also talk about gambling in general, at least the one we all come in contact with ...
Lotto, Roulette, Slot machines, Videopoker, etc ... all have one basic characteristic: THE MORE YOU PLAY THE MORE YOU LOSE!
And it's not me who says it, but math. IT'S SAFE! If you are patient I will prove it to you:
All games are characterized by a CONSTANT: there is always an advantage for those who keep the game, this advantage is measured in percentage, and can be clear and obvious, or "hidden", but there is ALWAYS.
For example, in Roulette, which is also the "most honest" game, you can bet on RED or BLACK, and get exactly double the payout. Regular? Yes, but don't forget the ZERO! The numbers are NOT 36, of which 18 red and 18 black, but 37!
Consequently, you are NOT 50% likely to win, but only 18/37 = 48.64%.
For the dozen, which pays 3 times, you have not 1/3 = 33.33% probability, but 12/37 = 32.43%.