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In March, 1400 Gambling Clubs in Australia removed ATM machines from the gaming area to help curb problem gambling. I think the U S casinos may have to someday address this issue as well. Maybe if it wasn't so easy to gamble with borrowed money we would be better off. Credit card companies could avoid lawsuits like Mr. Marino's by not allowing people to use their cards for online gambling. [edit] Blackjack is a mathematical game. Given a dealer upcard and your hand, there's always just one move you should make. Perfect Blackjack tells you what the correct move is. The game of poker (or at least most of the variants) is considered to be computationally intractable. However, methods are being developed to at least approximate perfect strategy from the game theory perspective in the heads-up (two player) game, and increasingly good systems are being created for the multi-player or ring game. Perfect strategy has multiple meanings in this context. From a game-theoretic optimal point of view, a perfect strategy is a minimax one that cannot expect to lose to any other player's strategy; however, optimal strategy can vary in the presence of sub-optimal players who have weaknesses that can be exploited. In this case, a perfect strategy would be one that correctly or closely models those weaknesses and takes advantage of them to make a profit. Some of these systems are based on Bayes theorem, Nash equilibrium, Monte Carlo simulation, and Neural networks. A large amount of the research is being done at the University of Alberta by the GAMES group led by Jonathan Schaeffer who developed Poki and PsOpt.
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This is the fallacious step in the argument. If the coin is fair, then by definition the probability of tails must always be .5, never more (or less), and the probability of heads must always be .5, never less (or more). While a run of five heads is only 1 in 32 (0.03125), it is 1 in 32 before the coin is first tossed. After the first four tosses the results are no longer unknown, so they don't count. The probability of five consecutive heads is the same as four successive heads followed by one tails. Tails is no more likely. Each of the two possible outcomes has equal probability no matter how many times the coin has been flipped previously and no matter what the result. Reasoning that it is more likely that the next toss will be a tail than a head due to the past tosses is the fallacy. The fallacy is the idea that a run of luck in the past somehow influences the odds of a bet in the future. -------------------------------------------------------------------------------- Hold 'em is to stud what chess is to checkers. - Johnny Moss 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. [edit] The traditional form of punto banco baccarat is played at an oval table, similar to the chemin de fer version. The table is staffed by a croupier, who directs the play of the game, and two dealers who collect and pay bets as well as tallying commissions due. Six or eight decks of cards are used, normally shuffled only by the croupier and dealers. Like chemin de fer, the shoe is passed around from player to player, who acts as the dealer of the cards and as "banker," but he or she does not actually bank the game. Indeed, the "banker" may bet on the player hand if he or she wishes, or may pass the shoe along to another player - the role of the "banker" is merely ceremonial. The person who bet the highest amount on the player hand is given the player-hand cards, though he or she simply turns the cards over, annoucing their total. The croupier instructs the "banker" on if or when to deal third cards, and then announces the winning hand. She hired an attorney who claimed she was not responsible because of an old English common law doctrine dating back to Queen Ann. They also sought to bar credit card companies from collecting gambling debts from California residents because it is illegal in the United States. The suit was settled before actually going to court. In the settlement her creditors agreed to drop their claims and a gambling software company paid her $225,000 lawyers bill. Mathematics of blackjack
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