Does anyone have a spreadsheet for figuring at what point a loss rebate makes sense, bankroll requirements, optimal betting, optimal games (craps, BJ, etc.)
Just send me $2995.95. j/k I hear he is working on a new book. I hope it is not just a $250 update. I have better things to spend my money on.
Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 - 8/23/10... “Life’s most urgent question is: what are you doing for others?” — Martin Luther King, Jr.
I don't want to give away too much here. But for game selection, go for high variance. Loss rebates are essentially put options, and one component of an option's value is volatility.
Back on BJInfo, there was discussion about a $100 loss rebate promo at one of the newer LV properties. I did not do the math before using mine. Instead, I put $100 into a $10 VP machine, planning on getting two $50 max bet spins. Later I found that this tactic wasn't optimal, but wasn't bad either.
In examining LR are high house edge bets with larger return better or worse for the ROI? I know they blow the RoR out of the water but does the EV get better?
Last edited by FlightMedicNoMore; 01-05-2012 at 08:49 AM. Reason: Spelling
All bleeding stops eventually.
By larger return do you mean larger variance? If so then yes.
Here is a thought experiment for you. I will give you a 20% LR. You have a choice:
1. You get to bet $100 on the flip of a coin. (No house edge)
2. You get to bet $100 on 1 number straight up on a roulette wheel. (American wheel, house edge %5.26)
Which is better an why?
NOTE - This is really simple math and anyone who can't do this should probably not consider making money at advantage gambling.
1) Has EV of $10 ($100 Win - $80 Loss/2 Outcomes)
2) Has EV of $14.21 ($3500 Win-(37 Chances to lose*.8)/38 Outcomes)
Damn I have the mother of all hangovers.
Last edited by FlightMedicNoMore; 01-05-2012 at 10:05 AM. Reason: Hangover affecting thought process.
All bleeding stops eventually.
I found it listed here for $250 http://www.beyondcounting.com/
All bleeding stops eventually.
Last edited by FlightMedicNoMore; 01-05-2012 at 11:12 AM.
All bleeding stops eventually.
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