Poker Strategy Info And Source:
Yuchun Lee, professional blackjack player and former member of the MIT card counting team, answers the internet’s burning questions about casinos and odds. What are the odds of winning a slot machine? What’s the best blackjack strategy? How does card counting work? What’s the best poker strategy? What casino games make the house the most money? Yuchun answers all these questions and much more!
Still haven’t subscribed to WIRED on YouTube? ►► http://wrd.cm/15fP7B7
Listen to the Get WIRED podcast ►► https://link.chtbl.com/wired-ytc-desc
Want more WIRED? Get the magazine ►► https://subscribe.wired.com/subscribe/splits/wired/WIR_YouTube?source=EDT_WIR_YouTube_0_Video_Description_ZZ
Follow WIRED:
Instagram ►►https://instagram.com/wired
Twitter ►►http://www.twitter.com/wired
Facebook ►►https://www.facebook.com/wired
Get more incredible stories on science and tech with our daily newsletter: https://wrd.cm/DailyYT
Also, check out the free WIRED channel on Roku, Apple TV, Amazon Fire TV, and Android TV.
ABOUT WIRED
WIRED is where tomorrow is realized. Through thought-provoking stories and videos, WIRED explores the future of business, innovation, and culture.
Source: YouTube
Pretty accurate info
Slots are for suckers.
2:39 *gasp!
Those chips are edited in!!
Take a couple hundred bucks and some friends ,drink free, maybe make a couple of bucks ,make a few good memories and then leave. That's the entire value of going to any casino at all in my book.
Also, another way casinos really mess you up if they think you're counting is capping the amount you are allowed to bet . If you are a pro and keeping a legit count then when the count is up you want to increase your bet size as statistically the odds are in your favor for that period of time. If your bet is capped it freezes your action then there is no way to make a profit large enough to even make counting worth it. Really , though if you start winning too much at certain periods during the decks, they'll just back you off anyway so it doesn't matter. And they are not nice about it at all. It's super lame.
He was wrong about the 8 reds in a row, it's not .5 to the eighth, it's 18/38 to the eighth. He neglected the 0 and 00.
martingale sounds pretty smart!
Taking a class on statistical process control and the statistics class cured me of any interest in games of chance with a probability under unity. When expanded into large sample sizes, the bell curve of distribution becomes very narrow and eventually narrow enough that no points are in the overall gains side of the middle of the distribution.
In the stock market, overall, the odds are in the investor's favor. Unlike very well planned games of chance, the odds on stocks vary widely to where winning is like looking for a needle in a stack of needles. I leaned to buy companies which are undervalued as they are likely to correct up, where overvalued stocks are more likely to correct down.
I highly use the Price/Earnings ratio. A low price for each dollar earned per share increases your chance of getting a larger dividend yield.
When the P/E starts to rise, this is a warning, either the price is rising and the earnings are not rising also, or the earnings are falling and the price didn't. A high P/E is a warning to sell or place stop loss orders to lock in your gains.
A temporary condition that causes the price to fall, but earnings fall much less results in a low P/E. This is golden buying opportunities. As the event passes and earnings return, the low cost can result in outstanding yield on cost, as cost was at a discount.
Example, during the pandemic, the price of crude oil crashed. The price of oil transportation cashed. Bought a bunch of oil pipeline stocks at about 80% off the tradional price. Earnings fell, but not near as far as the price, so the P/E dropped to about 2. 3 years later, the price is up more than 4 times what I paid for it. Paid under 6 per share. Forward dividends of $2 per share is more than 33% yield on cost. Love the odds much better in the market. About doubled my holdings value twice in 3 years.
I thank my statistics class for showing me the odds in well made games of chance, and the odds of doing well in the market.
What is crazy is how much money Casinos make and yet they still feel they need to increase their profits by replacing live dealers with machines and double zero roulette wheels with triple zero wheels
Excellent summary of casino odds.