Quote from: Lakai01 on September 05, 2023, 04:28:34 AM

In this context, we have discussed how casinos operate and are positioned (financially) and what role "luck" plays as a factor here. That's why I brought up the extreme example of the whale, which would be quite capable of ruining a casino financially.

Think about the following situation, for example:
A whale plays "double or nothing" against the casino and bets 1000 BTC. If he wins, the casino would have to pay out 1000 BTC, which would 100% bankrupt smaller casinos.

As I said, we are talking about fictional scenarios and what role luck plays in a casino's business model.

The casino doesn't allow 1000 winning bets, this is why it can't happen. Some casinos maybe would let that but usually that's not allowed, we are talking about nearly 25 million dollars there, and no casino I know would allow you to make a 25 million winning worth bet to begin with.

It doesn't even have to be double or nothing, the winning is maxed there, you could have 1 billion dollars and bet on 2% chance to win, which means you will most likely lose, but the win amount exceeds what is allowed so you won't be allowed to do that. This results with casinos allowing only a small portion of their entire bankroll to be allowed per bet, and if you bet that max amount, you will maybe win, but that won't ruin the casino.