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The gambler's fallacy can be illustrated by considering the repeated toss of a coin. With a fair coin the chances of getting heads are exactly 0.5 (a half). The chances of it coming up heads twice in a row are 0.5?0.5=0.25 (a quarter). The probability of three heads in a row is 0.5?0.5×0.5= 0.125 (an eighth) and so on. Less than 3:2 payout on blackjacks (as is the case with Las Vegas Strip single-deck blackjack, paying out 6:5) Basic strategy tables You flip a fair coin 20 times and it comes up heads every time. What is the probability it will come up tails next time? (Answer: 0.5) various risk management techniques that limits their maximum loss. -------------------------------------------------------------------------------- At any time during the first or subsequent betting rounds, if any player makes a bet, all other players are required to match it or to surrender their cards and forfeit their interest in the pot. If one player bets and no other player chooses to match the bet, the deal ends immediately, the bettor is awarded the pot, no cards are shown, and the next deal begins. This is what makes bluffing possible, and is a primary feature of the game that distinguishes it from other vying games and from other games that make use of poker hand rankings. Basic strategy tables Three card poker Early surrender; the ability to forfeit half your wager against a face or ace before the dealer checks for blackjack. Because of its attraction for wealthy players, a casino may win or lose millions of dollars a night on the game, and the house's fortunes may even affect the bottom line of a corporation's quarterly profit and loss - notations of the effects of major baccarat wins and losses are frequent in the quarterly reports of publicly-traded gaming companies. While the game of poker is played in hundreds of variations, most follow the same basic pattern of play. The slot machines are where casinos would like you to play your free cash. But smart players give them a swerve and head straight to the card tables. To be more precise they head for the Blackjack table. 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. There are few things that are so unpardonably neglected in our country as poker... Why, I have known clergymen, good men, kindhearted, liberal, sincere, and all that, who did not know the meaning of a 'flush'. It is enough to make one ashamed of one's species. - Mark Twain Example: The player originally bets $10 and the dealer shows an Ace. The player takes Insurance by betting an additional amount of $5. Suppose the player's hand is 19. The dealer turns up his 'hole card' after the Insurance betting period is over -- and it's not a 10-valued card. Suppose the 'hole card' is a 7. The player instantly loses his $5 Insurance wager. (All Insurance wagers are settled as soon as the dealer turns over his 'hole card', before all else.) But the player wins his $10 bet. Note that the player made a net profit on that round. Online casinos are decent businesses because they work hard. And they do work hard. Mathematics of blackjack A casino is a building that accommodates certain types of gambling games and activities. Customers may gamble by playing slot machines or other games of chance and some skill (e.g., craps, roulette-for more see casino games). Game rules usually have mathematically-determined odds that ensure the house retains an advantage over the players. This advantage is called the edge. Payout is the percentage given to players. In games such as poker, the house takes a commission (a "rake") on bets players make against each other. Casinos are often placed near or combined with hotels, restaurants and other vacation attractions to encourage long stays. Common random number games (non-table) I've now played in 11 of the casinos and have made a profit in each one. Shown below are the actual profits I've received. When money is received in $'s I've converted the profit figure to ?'s. Caribbean Stud Poker Rules No need to be an expert.

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2006-03-04, 11:12

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2006-03-04, 11:12