We Remember The Magic Café We Remember
Username:
Password:
[ Lost Password ]
  [ Forgot Username ]
The Magic Cafe Forum Index » » The Gambling Spot » » Is cheating a casino wrong? (8 Likes) Printer Friendly Version

 Go to page [Previous]  1~2~3~4~5~6
LobowolfXXX
View Profile
Inner circle
La Famiglia
1197 Posts

Profile of LobowolfXXX
Quote:
On Oct 23, 2014, Vargas wrote:
Once again, the expectation is the only thing that matters.


That's a wholly arbitrary statement.
"Torture doesn't work" lol
Guess they forgot to tell Bill Buckley.

"...as we reason and love, we are able to hope. And hope enables us to resist those things that would enslave us."
Artie Fufkin
View Profile
Special user
857 Posts

Profile of Artie Fufkin
Quote:
On Oct 23, 2014, LobowolfXXX wrote:
However, it CAN work quite nicely in the short run.....

......or not at all.

if you lose every single hand and double each time until you run out of bankroll such that you're "walking back to memphis", congratulations, you've graduated from Martindale School!
Artie Fufkin
View Profile
Special user
857 Posts

Profile of Artie Fufkin
For clarity...........in poker you'd be walking back to Houston Smile

there's no Martingale in poker, so you're now hoofing it to Memphis with your empty "Martingale" pockets.
Vargas
View Profile
New user
France
49 Posts

Profile of Vargas
Quote:
On Oct 23, 2014, AMcD wrote:
@vargas

If you play when you have positive EV only, you may never be rich. In the long run, a negative EV will ruin you. But context matters. Say you play hold'em and you have Ace high and your opponent is pretending to have a Flush with 3 Spades showing on the board. Mathematically, your EV is ridiculous, but if you suspect the guy is bluffing that's where you'll make a lot of chips. EV is just a part of the scheme.


Here, we are talking about Martingale. In a Martingale, there is no way the roulette would be bluffing. Hence my statement about EV. In Poker, it is different : another parameter (the other(s) player(s)) comes into place. IMO, poker and martingale are two different things.

Vargas
Dannydoyle
View Profile
Eternal Order
20660 Posts

Profile of Dannydoyle
Lobo it seems as of you are saying a Martingale is a good way to take advantage of a winning streak. It seems as if you are pre supposing winning on some level. I am not sure.

When using absolutes such as "never works" yes you are technically correct (The best kind of correct.) to point out that once in a while thingie where it can pan out if everything happens perfectly to squeeze in the "not never" exception.

To be fair though it is not the smartest thing to try to depend upon for a betting strategy. If I had a casino and you said that was your system and you wanted to put a hundred grand in play I would send a limo to pick you up. If you are willing to risk $6,300 to win $100 in anything other than an online exercise I would be shocked.
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
Artie Fufkin
View Profile
Special user
857 Posts

Profile of Artie Fufkin
That casino gambers occasionally DO win, or go on winning streaks of various lengths is why gamblers keep the casinos busy.
but again, short or long winning streaks are not related in any way to a gamblers chosen method of money management.

winning streaks come and go, whereas money management is something one should be practicing 100% of the time your money is being put at risk.
LobowolfXXX
View Profile
Inner circle
La Famiglia
1197 Posts

Profile of LobowolfXXX
Quote:
On Oct 27, 2014, Artie Fufkin wrote:
short or long winning streaks are not related in any way to a gamblers chosen method of money management.


Short term results, however, are very much a function of money management.
"Torture doesn't work" lol
Guess they forgot to tell Bill Buckley.

"...as we reason and love, we are able to hope. And hope enables us to resist those things that would enslave us."
SittinDuK
View Profile
New user
Greenville, SC
18 Posts

Profile of SittinDuK
Aren't casinos those places where people who are bad at math give their money to people who are better at math?

Anyway for my two cents theft is theft, but even if you are successful at cheating you will not stop and that will lead to you getting caught eventually. If you think otherwise you're probably worse at math than the people who have 'a system' plugging an endless stream of quarters into slot machines.
jackouille07
View Profile
Regular user
France
110 Posts

Profile of jackouille07
Quote:
On Nov 2, 2014, SittinDuK wrote:
Aren't casinos those places where people who are bad at math give their money to people who are better at math?



No. I think it has nothing to do with being good or bad at Math. Everyone of us need to evade himself at some times. Some people do it while reading a book, watching TV, doing sports, listening music, playing music... and some while gambling. I really think you can be good at math and being a compulsive gambler, like you can be smart and a drugs addict.

The gambling addiction, like all other addictions, is a lot much complicated than just being good or bad in some area.
uhrenschmied
View Profile
Regular user
135 Posts

Profile of uhrenschmied
It appears that not everybody in the casino industry shares the view of Martingale not working.
After reading about this in another forum I checked the website and found this in their terms of service:

7.2 Cheating. Use of any betting techniques that we deem in our sole discretion to circumvent the standard house edge in our Casino Games is strictly prohibited. This includes, but is not limited to, any attempts at card counting or progressive betting systems (e.g. Martingale progression, paroli-system, D’Alembert-system, parley-system, etc.) or other irregular play. 'Irregular play' includes but is not limited to any one or more of the following types of play: Even money bets with bonus money on Sic Bo, Craps, Roulette and Baccarat. If the game play on your Account indicates that you are using any betting techniques we disapprove, in our discretion, we shall immediately block the Account and retain any funds in said Account.
Additional specific restrictions apply to use of the Poker Room. See Poker Room & Tournaments provisions below.

Regards,
Artie Fufkin
View Profile
Special user
857 Posts

Profile of Artie Fufkin
"sharing a view" likely isn't at play here, and trying to cover every angle that would allow the casino to keep your winnings likely is.

the Martingale, D'Alembert, etc simply don't work by design, and knowledgable senior casino managers know this (how far down the "employee chain" that knowledge goes, who knows, my guess is not very far).
BUT, by essentially noting everything they can think of in writing as being grounds for freezing your account, they do cover their angle in a way that is much broader than having nothing in writing at all.

the recent Ivey/Crockfords affair shows the lengths casinos will go to in order to enforce unwritten rules ... thus, (as noted above) we have some "written rules" (however ridiculous they might be).
Dannydoyle
View Profile
Eternal Order
20660 Posts

Profile of Dannydoyle
Table minimums and maximums are all that are needed to circumvent the martingale.
Danny Doyle
<BR>Semper Occultus
<BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell
iamslow
View Profile
Inner circle
Proffessional Slacker
1967 Posts

Profile of iamslow
Quote:
On Nov 30, 2014, Dannydoyle wrote:
Table minimums and maximums are all that are needed to circumvent the martingale.


Yup... Most places you wont be able to double up more than 8 times... the majority, have set their limits so you cant double up more than 7 times...
"Everyone has a plan till they get punched in the face" Mike Tyson
The Magic Cafe Forum Index » » The Gambling Spot » » Is cheating a casino wrong? (8 Likes)
 Go to page [Previous]  1~2~3~4~5~6
[ Top of Page ]
All content & postings Copyright © 2001-2021 Steve Brooks. All Rights Reserved.
This page was created in 0.15 seconds requiring 5 database queries.
The views and comments expressed on The Magic Café
are not necessarily those of The Magic Café, Steve Brooks, or Steve Brooks Magic.
> Privacy Statement <

ROTFL Billions and billions served! ROTFL