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While the odds of winning are remote, it may provide the only opportunity to move to a higher economic class. Since the casino industry is heavily regulated and some of the standards set forth by regulatory bodies involve mathematically related issues, casino managers also should.
Perhaps he is even familiar with stories of old where casinos employed dealers to cheat "lucky" players. Understanding the mathematics of a game also is important for the casino operator to ensure that the reasonable expectations of the players are met.
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Adam Smith suggested that all gambling, vinna pengar på att spela ett spel where the operator has an advantage, is irrational. He wrote "There is not, however, a more certain proposition in mathematics than that the more tickets in a lottery you advertise upon, the more likely you are a loser.
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An owner of a major Las Vegas strip casino once experienced a streak of losing substantial amounts of money to a few "high rollers." He did not attribute this losing streak to normal volatility in the games, but to bad luck.
Despite the obvious, many casino professionals limit their advancements by failing to understand the basic mathematics of the games and their relationships to casino profitability. One casino owner would often test his pit bosses by asking how a casino could make money on blackjack if.
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Casinos make money on their games because of the mathematics behind the games. As Nico Zographos, dealer-extraordinaire for the 'Greek Syndicate' in Deauville, Cannes, and Monte Carlo in the 1920s observed about casino gaming: "There is no such thing as luck.
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