and new ones each time… ( or some interval. casino dice last one thrower at the craps table and are then put into the bin for reselling to the tourists or just given as a consolation prize to the thrower. those guys are way serious about no cheating )
Just like every form of gambling, the house always wins.
1 Like
On the other hand, the first ticket improves your chance of winning by 1/[total possible outcomes].
The second one improves your chance of winning by 1/[total possible outcomes].
Yes, the same.
Wait a minute. This is misleading, because your total chance of winning is 2/[total possible outcomes]. Still slim to none, but you have doubled your own chances.
Playing the Powersall simulator for 1092 years sounds like an excellent science fiction premise to me. I’m picturing an ominously powerful near-future Tesla’s R&D department somehow virtualizing (the original) Tesla to be the protagonist.
It’s actually a good strategy from amathematical point of view as well.
If you have a lottery where the jackpot prize rolls over if it isn’t won, the expected return from buying a ticket for a draw with a huge jackpot can be positive, because you have the potential to win money wagered by players in previous draws.
However, it’s still not worth buying loads of tickets in that situation, because the expected positive return has such a high volatility that it’s still overwhelmingly likely that you’ll lose it all.
Why do people refer to it as “winning” if they didn’t actually do anything? Random chance is not any sort of victory. Something skill-based, like the outcome of a chess game, would be a win.
Because that’s the word we know for that?
Words can have more than one meaning, you know. I’m sure that in a perfect logic-based language (created by advanced AI civilizations from space, let’s say) that sort of semantic overlap might be considered unacceptably imprecise and messy to be usable, but English ain’t it.
Got any suggestions for a better way of referring to success in skill-independent acts of gambling, betting and assorted risk-taking? Now I’m curious about how that might look like.
3 Likes
That was my point. How is it any sort of success? “success in skill-independent acts” itself seems like a contradiction in terms. I suppose I’d lump it under the label of “random stuff that happens to people”. If it’s a random event, it isn’t very noteworthy.
This topic was automatically closed after 5 days. New replies are no longer allowed.
