Open Archive 6
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Re: In All Types of Gambling, NOTHING WORKS IN THE LONG RUN!
Posted by Claude on 31 July 1999, at 5:42 p.m., in response to Re: In All Types of Gambling, NOTHING WORKS IN THE LONG RUN!, posted by Herman on 31 July 1999, at 3:44 p.m.
Maybe too many counters don't realise that having an edge of 0 to 1.5% over the house is extremely slim. One needs a lot of patience and a pretty deep pocket to make substantial profits. On the short run anything can happen but on the long run the one who has the edge will win. The following was taken from Ken Uston " Million Dollar Blackjack" page 135 of the paperback issue 1998 edition.
-Probability of winning at various hours of play with a 1½% edge-
( 100 HANDS PER HOUR )
I hour = 56%
5 hours = 62%
10 hours = 67%
20 hours = 73%
50 hours = 84%
100 " = 92%
200 " = 94%
400 " = 99.7 %
As one can see it is highly probable that a counter might lose for sometime and also for several sessions in a row but on the long run if he has good money management and stay away from "steaming" he will get the best of it. It is not so for any unch player who gambles against the odds.
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