Looking for a VEGAS MONEY EXPERIMENT
I’m in Vegas right now, and looking for some sort of money experiment to perform.
I’ll give it a $200 budget (Courtesy of Interest.com)
There’s tons of little gambling experiments I can do, but I want something relatively unique or fun.
-Two spins of $100 on black?
-Couple pulls of the high stakes slots machines?
-200 $1 slot machine pulls?
-Sports bet?
-Quick go at the high stakes tables?
-?????
I need ideas!
I’ll give it a $200 budget (Courtesy of Interest.com)
There’s tons of little gambling experiments I can do, but I want something relatively unique or fun.
-Two spins of $100 on black?
-Couple pulls of the high stakes slots machines?
-200 $1 slot machine pulls?
-Sports bet?
-Quick go at the high stakes tables?
-?????
I need ideas!
Labels: Money Experiments
posted by Neville @ 12:00 PM
24 comments
24 Comments:
Calculate the medical expenses as a loss ratio against initial investment.
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http://www.nevblog.com/2005/03/lottery-experiment-itch-to-scratch.html
Do something similar to that but with slot machines. Play 200 pulls of the $1.00 machines!
Don't take pictures though, they hate that in the casinos :-)
Say you're at a $5 minimum bet table, if you win you keep your 5, but if you loose you take the previous bet and add it to your current bet. This is sequential
1st Bet - $5
1st loss - $10 bet
2nd loss - $15 bet
3rd loss - $30 bet
say you win now you're up $5
Try it see how it works... if you're unlucky it kills you.
Enjoy your time in Vegas.
This would be playing 200 different slot machines $1 each. It sounds crazy, but i'm sure it will teach you something new about slots and prizes!
OR
you can go you a video poker machine (deuces wild has the best payout odds...but jacks or better aren't TOOOOO far behind). The advantage here is the amount (albeit small) of control over you're fate in the cards. there are books and websites devoted to this.
Think of this more of an exercise in statistics. if you can calculate basic odds (either in a sequence of related events or sequence of UNrelated events) at the least you'll educate yourself on how the house takes you're money long run...
this is pathetic....
You could walk away a winner, and you could walk away a loser, but chances are you will walk away about even.
I am thinking the experiment would really be about discipline.
Bet 10 dollars on black.
If black hits, then walk away with 10 dollars and go get a sandwich.
If red hits, then your goal is to recoup the 10 dollar lost:
Bet 10 dollars on black again.
If black hits, walk away. (net effect = 0)
If red hits, bet 20 dollars.
If black hits, walk away. ( net effect = 0)
If red hits, bet 40 dollars.
Etc……You could get into some trouble if Black doesn't hit (52% chance), but from the look at your bank account you can take out enough to withstand quite a few bets!. If black does not hit 10 straight times, you'll need to have 5120 dollars in your pocket.
But the odds of this happening is less then a fifth of a percent ( 0.16%), so you probably won't have to worry about that too much.
Once you win, put down another 10 dollars and repeat until you win that first bet.
Bet 10 dollars on black.
If black hits, then walk away with 10 dollars and go get a sandwich.
If red hits, then your goal is to recoup the 10 dollar lost:
Bet 10 dollars on black again.
If black hits, walk away. (net effect = 0)
If red hits, bet 20 dollars.
If black hits, walk away. ( net effect = 0)
If red hits, bet 40 dollars.
Etc……You could get into some trouble if Black doesn't hit (52% chance), but from the look at your bank account you can take out enough to withstand quite a few bets!. If black does not hit 10 straight times, you'll need to have 5120 dollars in your pocket.
But the odds of this happening is less then a fifth of a percent ( 0.16%), so you probably won't have to worry about that too much.
Once you win, put down another 10 dollars and repeat until you win that first bet.
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