<story><title>Monte Carlo Methods or Why It&apos;s a Bad Idea to Go to the Casino</title><url>https://easylang.online/apps/tutorial_monte_carlo_methods.html</url></story><parent_chain></parent_chain><comment><author>jstx1</author><text>The post doesn&amp;#x27;t really shed much light on it, it feels like a missed opportunity to explain things well.&lt;p&gt;There&amp;#x27;s two main effects:&lt;p&gt;- Negative expected value (EV)[1]. The games are set up in a way that on average you&amp;#x27;re likely to lose money. This is true for every game where you play against the house, otherwise the game wouldn&amp;#x27;t be there. Poker is different because your EV depends on how you play relative to other people.&lt;p&gt;- Bankroll management and risk of ruin[2]. Even in a fair game, if you start with a short bankroll, you&amp;#x27;re likely to go broke. For example, let&amp;#x27;s say two of us flip a completely fair coin and bet $1 on each flip. The expected value for both players is $0. Now if one of us starts with $5 and the other $1000 and we play repeatedly, the person with the smaller amount is almost guaranteed to go broke in a long series of flips. This what happens when you play against the house and it&amp;#x27;s the main reason why people lose money when they gamble in casinos.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Expected_value&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Expected_value&lt;/a&gt;&lt;p&gt;[2]  &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Risk_of_ruin&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Risk_of_ruin&lt;/a&gt;</text></comment>
<story><title>Monte Carlo Methods or Why It&apos;s a Bad Idea to Go to the Casino</title><url>https://easylang.online/apps/tutorial_monte_carlo_methods.html</url></story><parent_chain></parent_chain><comment><author>citizenpaul</author><text>A good reason not to go to US casinos in vegas is there are too many stories of casinos blocking payout due to &amp;quot;exploiting&amp;quot; games. If you win you win or you dont. Doesnt matter how its up to the casino to validate that their game works and is exploit free.  You already put your money down so they might as well just use a gun to take it at that point.</text></comment>