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Casino News on Wednesday, October 18, 2006

Bet with positive expectancy

Is there anyway you can beat a casino game which is one of pure chance? Systems, such as the Martingale System are a sure road to ruin.

Particularly in Las Vegas there are dollar progressive jackpot machines. Basically every time a player puts $1 in the machine, the jackpot goes up by 1¢. If the jackpot is not won for a long time, then eventually the machine moves into positive expectancy. It is time for the professionals to move in, hog the machine and play on it until hitting the jackpot. You may have to invest $50,000 before the $70,000 jackpot pays off. But hell, it beats working for a living.

There is even a five card draw poker table spread in the Grosvenor Casinos throughout Britain where eventually, if the jackpot is not won, wagering moves into positive expectancy. This is around about where the jackpot reaches £250,000. The problem is that it is still 650,000/1 against making a Royal Flush. You could play for the rest of your life and never win. But it is a bet with a positive expectancy.

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