MAT 1374 Lecture Notes - Lecture 7: Claude Shannon, Card Counting, Edward O. Thorp
15 Sep 2016
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37 possible outcomes (in america there is a 00 so there is 38) and you can make any combination of bets you"d like. You can bet on a number, on even/odd, on a color, or on a combination. 0 is neither red nor back; if you bet entirely on red and black, you still have a chance of losing everything at worst. Every time you win something, you also lose something (what you bet). So if you always break even, you in the long run will lose. Payout is 35xyour bet if it lands on what you bet. Some tables have table limits on how much you can bet. Strategies/choices to make: inside bet or outside bet (inside bets target specific numbers. Fixed betting pattern or varying depending on previous results (always betting on the same thing or considering past loses and wins to determine what you bet on).
