Post
Topic
Board Gambling
Re: Where are the EV+ casino games?
by
a1choi
on 05/06/2014, 07:30:57 UTC
I remember reading some scientific paper that if the bankroll of the player is bigger than the house, the player will bankrupt the house playing 0% odds.  i'll try to search for that paper.

I'm thinking about this paper which doesnt corroborate with what i said earlier..  http://www.library.unlv.edu/center-gaming-research/2008/09/article-impact-finite-bankroll-even-money-game.html.

but still i think the math stands up that if the player has a larger bankroll than the house, player has a larger chance to bankrupt the house than the house has to bankrupt the player on a 0% game

and this is where i calculated the ruin %..  if you input the odds of the house win as 0.505 and loss at 0.495, at 100x bankroll compared to max bet, the chance of ruin is 14%...  which is really high.  i wonder how they came up with that formula.
http://www.urbino.net/digital-books.cfm?dID=13&p=3&sID=87  bottom of the page.