Post
Topic
Board Gambling discussion
Re: Slots 101: Basics, Strategies, and Discussion (with poll)
by
Saint-loup
on 01/07/2020, 12:01:58 UTC
^Obviously exploration vs exploitation is an interesting topic, but I'm not sure if the problem will still be relevant with a random number generator in modern slots. Hence:

Strategy

(5) You don't have to stay in the same game and waste all of your money there. Remember, the probability of winning the next spin will remain the same.

This is the most general advice in slots since you don't have to do a statistical analysis while playing.
Do you think (or anyone else) my calculations are correct :

If I have one in 10 000 chances of winning the jackpot at each spin it means I have 9 999 chances of missing it.
Thus I have 9 999/1000 x 9 999/1000 of missing it for 2 spins 

So for 1000 spins I'll get
(9 999/10 000)1000=90.5% chances of missing the jackpot
and 1 - 90.5%=9.5% chances of winning the jackpot at least one time

and for 10 000 spins
(9 999/10 000)10 000=37% of missing the jackpot
and 1 - 37%=63% chances of winning the jackpot at least one time