Friday, June 07, 2019

Green Zero


People come up with all sorts of elaborate strategies to beat the Roulette table. You can’t beat maths. On average whatever your strategy, in the long term, you lose 1/37th of whatever you put down each bet. 18 odds. 18 evens. 18 reds. 18 blacks. AND the pesky green zero. The Casino always wins. The only real winning strategy is to survive. Lose as little as possible while getting the “free” drinks. Wait for everyone else to lose first. The same is true on the other side. The Casino is only making a little each time. Enough time (Endurance) for it to add up. Enough of a buffer (Resilience) to handle the occasional big losses. Enough awareness to realise that chasing big, fast wins, can put you at risk of ruin. Enough understanding to look through the noise at what is really happening. Rule number one has to be staying in the game. Rule number two is that adding value beats gambling.



No comments: