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Speculation Pai Gow [edit] [edit] Hold 'em is to stud what chess is to checkers. - Johnny Moss
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A typical casino game has a slight house advantage. The advantage is the long-run expectation, most often expressed as a percentage of the amount wagered. It remains constant from one play to the next. If the long-run expectation is expressed as a percentage of the amount that the player starts with, however, then the house advantage increases the longer the player continues. Many riddles trick the reader into believing that they are an example of Gambler's Fallacy, such as the Monty Hall problem. Similarly, if I flip a coin twice and tell you that at least one of the two flips was heads, and ask what the probability is that they both came up heads, you might answer, that it is 50/50 (or 50%). This is incorrect: if I tell you that one of the two flips was heads then I am removing the tails-tails outcome only, leaving the following possibile outcomes: heads-heads, heads-tails, and tails-heads. These are equally likely, so heads-heads happens 1 time in 3 or 33% of the time. If I had specified that the first flip was heads, then the chances the second flip was heads too is 50%. More generally however the phrase refers to the ever decreasing expected value of a gambler's bank as he continues to gamble with his winnings. Original Story If the 'Banker' has an initial total of 0, 1 or 2, the 'Banker' draws another card.
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