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	<title>Comments on: Virtual Slot Machine Teaches the Logic of Loss</title>
	<atom:link href="http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/feed/" rel="self" type="application/rss+xml" />
	<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/</link>
	<description>Strength in Numbers</description>
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		<title>By: Wayne State Web Communications Blog &#187; Blog Archive &#187; [Friday Links] The 2009 edition</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37526</link>
		<dc:creator>Wayne State Web Communications Blog &#187; Blog Archive &#187; [Friday Links] The 2009 edition</dc:creator>
		<pubDate>Sun, 27 Dec 2009 14:17:31 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37526</guid>
		<description>[...] Virtual Slot Machine Teaches the Logic of Loss   addthis_url = &#039;http%3A%2F%2Fwcs.wayne.edu%2Fblog%2F2009%2F12%2F27%2Ffriday-links-the-2009-edition-2%2F&#039;; addthis_title = &#039;%5BFriday+Links%5D+The+2009+edition&#039;; addthis_pub = &#039;nickdenardis&#039;; [...]</description>
		<content:encoded><![CDATA[<p>[...] Virtual Slot Machine Teaches the Logic of Loss   addthis_url = &#39;http%3A%2F%2Fwcs.wayne.edu%2Fblog%2F2009%2F12%2F27%2Ffriday-links-the-2009-edition-2%2F&#39;; addthis_title = &#39;%5BFriday+Links%5D+The+2009+edition&#39;; addthis_pub = &#39;nickdenardis&#39;; [...]</p>
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		<title>By: Wayne State Web Communications Blog &#187; Blog Archive &#187; [Friday Links] The Birthday Edition</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37395</link>
		<dc:creator>Wayne State Web Communications Blog &#187; Blog Archive &#187; [Friday Links] The Birthday Edition</dc:creator>
		<pubDate>Sat, 19 Dec 2009 16:51:24 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37395</guid>
		<description>[...] Virtual Slot Machine Teaches the Logic of Loss [...]</description>
		<content:encoded><![CDATA[<p>[...] Virtual Slot Machine Teaches the Logic of Loss [...]</p>
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		<title>By: Virtual Slot Machine Teaches the Logic of Loss &#124; FlowingData &#124; Slot Strategy</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37368</link>
		<dc:creator>Virtual Slot Machine Teaches the Logic of Loss &#124; FlowingData &#124; Slot Strategy</dc:creator>
		<pubDate>Fri, 18 Dec 2009 18:58:49 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37368</guid>
		<description>[...] here: Virtual Slot Machine Teaches the Logic of Loss &#124; FlowingData   Tagged with: buying-or-something &#8226; government &#8226; limit-ticket &#8226; make-money &#8226; [...]</description>
		<content:encoded><![CDATA[<p>[...] here: Virtual Slot Machine Teaches the Logic of Loss | FlowingData   Tagged with: buying-or-something &bull; government &bull; limit-ticket &bull; make-money &bull; [...]</p>
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	<item>
		<title>By: Alana</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37360</link>
		<dc:creator>Alana</dc:creator>
		<pubDate>Fri, 18 Dec 2009 14:34:00 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37360</guid>
		<description>Funny, when I played slots in vegas (once), I lost, lost, lost.  When I played this one, I won, won, won.  So I guess it&#039;s virtual slots for me :-).</description>
		<content:encoded><![CDATA[<p>Funny, when I played slots in vegas (once), I lost, lost, lost.  When I played this one, I won, won, won.  So I guess it&#8217;s virtual slots for me :-).</p>
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	<item>
		<title>By: Nathan Yau</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37359</link>
		<dc:creator>Nathan Yau</dc:creator>
		<pubDate>Fri, 18 Dec 2009 14:19:48 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37359</guid>
		<description>no, just briefly held for moderation :) thanks, garick</description>
		<content:encoded><![CDATA[<p>no, just briefly held for moderation :) thanks, garick</p>
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		<title>By: Garick</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37358</link>
		<dc:creator>Garick</dc:creator>
		<pubDate>Fri, 18 Dec 2009 14:01:46 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37358</guid>
		<description>Hrm, wondering the the spim filters ate my post about gambling, as it is a frequent topic for spim....

:)</description>
		<content:encoded><![CDATA[<p>Hrm, wondering the the spim filters ate my post about gambling, as it is a frequent topic for spim&#8230;.</p>
<p>:)</p>
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		<title>By: Garick</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37357</link>
		<dc:creator>Garick</dc:creator>
		<pubDate>Fri, 18 Dec 2009 13:51:58 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37357</guid>
		<description>This is not entirely true, when the subject veers into potential games of skill like Blackjack.  The house can limit winnings of
skillful players, but fundamentally doing so too much may actually have downsides and cost them more money overall.  Since most people can&#039;t count well there is going to be a downside in other players observing the house compensating for a big winner.

http://en.wikipedia.org/wiki/Advantage_gambling
http://en.wikipedia.org/wiki/Card_counting

A smart player can bet minimally when the statistics are what would normally be expected but when a deck&#039;s statistics become more favorable for certain bets, they can bet more and average over 100% because of the variable sized bets and the fact the house&#039;s edge assumes the deck has a ordinary distribution of cards or that the player would not be counting well enough to derive advantage from the small occasional drift.

Likewise people have analyzed many lottos as decent investments given: long timeframes, large amounts of money, and assuming the rules (or rules other payers used) would not be change if a person actually tried to take advantage of people&#039;s lack of ability to choose good random numbers leading to numbers that would have much lower odds of sharing a win.
In reality, I think a this would not happen.  A person with a sound strategy to make money on a lotto would be noticed, and the rules would be changed to limit ticket buying or something similar to defeat such players before they embarrassed the government.</description>
		<content:encoded><![CDATA[<p>This is not entirely true, when the subject veers into potential games of skill like Blackjack.  The house can limit winnings of<br />
skillful players, but fundamentally doing so too much may actually have downsides and cost them more money overall.  Since most people can&#8217;t count well there is going to be a downside in other players observing the house compensating for a big winner.</p>
<p><a href="http://en.wikipedia.org/wiki/Advantage_gambling" rel="nofollow">http://en.wikipedia.org/wiki/Advantage_gambling</a><br />
<a href="http://en.wikipedia.org/wiki/Card_counting" rel="nofollow">http://en.wikipedia.org/wiki/Card_counting</a></p>
<p>A smart player can bet minimally when the statistics are what would normally be expected but when a deck&#8217;s statistics become more favorable for certain bets, they can bet more and average over 100% because of the variable sized bets and the fact the house&#8217;s edge assumes the deck has a ordinary distribution of cards or that the player would not be counting well enough to derive advantage from the small occasional drift.</p>
<p>Likewise people have analyzed many lottos as decent investments given: long timeframes, large amounts of money, and assuming the rules (or rules other payers used) would not be change if a person actually tried to take advantage of people&#8217;s lack of ability to choose good random numbers leading to numbers that would have much lower odds of sharing a win.<br />
In reality, I think a this would not happen.  A person with a sound strategy to make money on a lotto would be noticed, and the rules would be changed to limit ticket buying or something similar to defeat such players before they embarrassed the government.</p>
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		<title>By: simone</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37356</link>
		<dc:creator>simone</dc:creator>
		<pubDate>Fri, 18 Dec 2009 12:59:55 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37356</guid>
		<description>... and i BET that this kind of websites even bring them new customers! lol :)</description>
		<content:encoded><![CDATA[<p>&#8230; and i BET that this kind of websites even bring them new customers! lol :)</p>
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		<title>By: la fortuna: la macchina di scanalatura &#124; RRR</title>
		<link>http://flowingdata.com/2009/12/18/virtual-slot-machine-teaches-the-logic-of-loss/#comment-37354</link>
		<dc:creator>la fortuna: la macchina di scanalatura &#124; RRR</dc:creator>
		<pubDate>Fri, 18 Dec 2009 12:48:47 +0000</pubDate>
		<guid isPermaLink="false">http://flowingdata.com/?p=4381#comment-37354</guid>
		<description>[...] di vincita con le slot machines, sarebbe meglio parlare di probabilitÃ  di sconfitta, dato che piÃ¹ si gioca piÃ¹ si va verso la certezza di perdere ogni soldo &#8220;scommesso&#8221;.  This entry was posted in miracoli, nerdate, statistiche. Bookmark the permalink. Post a comment [...]</description>
		<content:encoded><![CDATA[<p>[...] di vincita con le slot machines, sarebbe meglio parlare di probabilitÃ  di sconfitta, dato che piÃ¹ si gioca piÃ¹ si va verso la certezza di perdere ogni soldo &#8220;scommesso&#8221;.  This entry was posted in miracoli, nerdate, statistiche. Bookmark the permalink. Post a comment [...]</p>
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