I have been hearing that mathematics tells us that casino games with house edge/negative expectations are unbeatable. I asked many that which book of mathematics says so, none answered so far. I am not any scholar of mathematics but Math was a subject of mine till 12th class. I read algebra, geometry, trigonometry, calculus, probability, statistics and basic arithmetic but never heard of any such concept in text books, at least. Fortunately or unfortunately our schools do not teach us casino odds or gambling theories.
Is the concept of games being unbeatable a theory or a law?
Wikipedia says that: Online slot games often have a published Return to Player (RTP) percentage that determines the theoretical house edge. Some software developers choose to publish the RTP of their slot games while others do not. Despite the set theoretical RTP, almost any outcome is possible in the short term.
It means one can win, even in slots.
Mathematically, only one thing is certain about the casino games(with house edge or negative expectations) that if you keep betting 1 unit consistently on any bet, you can not win, in the long run due to that. I admit and accept this as pure maths.
Can anybody enlighten me with mathematical concepts that I am unaware of that confirms that a gambler has to lose in a casino game in the long run, whatever he choose to bet or howsoever he bets?
Is the concept of games being unbeatable a theory or a law?
Wikipedia says that: Online slot games often have a published Return to Player (RTP) percentage that determines the theoretical house edge. Some software developers choose to publish the RTP of their slot games while others do not. Despite the set theoretical RTP, almost any outcome is possible in the short term.
It means one can win, even in slots.
Mathematically, only one thing is certain about the casino games(with house edge or negative expectations) that if you keep betting 1 unit consistently on any bet, you can not win, in the long run due to that. I admit and accept this as pure maths.
Can anybody enlighten me with mathematical concepts that I am unaware of that confirms that a gambler has to lose in a casino game in the long run, whatever he choose to bet or howsoever he bets?