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TagAdvantage players

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Croupier hands dealing cards on t blackjack poker table, gambling table with cards and chips

When The House Can’t Win The Game, It Will Change The Rules

Intelligent gamblers can try and beat the house, but the house will fight back. Casinos protect their investment in a variety of ways including surveillance, banning players, and even changing the game rules. Robert J. Marks and Sal Cordova discuss gambling, casino oversight, and “advantage players.” Show Notes 00:31 | Recapping How Don Johnson Cleaned Out Atlantic City 02:48 |…

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Multi Casino Games Concept

Gambling: WHY the House Always Wins in the Long Run…

The casinos are not cheating. They rely on the Law of Large Numbers, part of the mathematical structure underlying our universe

In this week’s podcast, “The house always wins in the long run” (June 2, 2022), Walter Bradley Center director Robert J. Marks interviews mathematician, computer scientist, and engineer Salvador Cordova on a subject on which he has strong views: gambling. Marks tells us, “I teach a graduate course on probability and stochastic processes. There I teach the stupidity of casino gambling. In statistics, there’s a theorem called the Law of Large Numbers. It teaches that you can’t win in the long run at casino games. Period. The law of large numbers is a mathematical truth. It’s a law as serious as the law of gravity. It’s why casinos always get rich and the gambler always gets poor. There is a…