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Adapt

Avatar: 58104 2015-06-13 23:16:37 -0400
16

[Grey Goose Mafiosi]

Level 48 Camwhore

Celerysteve is better than me in everyway imaginable

Bill_Murray_Fan_7383 Posted:

Well, I’m not a math major, so I don’t understand the math behind it, and I don’t know how to make it any clearer.

In the example I provided, the chance of a reaction happening in the atmosphere is fairly constant – so stretched across a period of time, it becomes more likely to occur.

But in gambling, the chance of breaking even isn’t stable – every time you lose, the chances become smaller, and, statistically, you’ll lose more often then you’ll win. So when you stretch that across a period of time, the chances don’t become anymore likely – in fact, they become less likely.

That is, if I understand this all correctly.

Every time you lose, your chances of winning are still exactly the same. Say there is a 60% chance of you losing; as you play more and more games, you can look at you overall win/loss record and see that you are going to have lost about 60% of the time, giving you a negative net. Especially as you approach infinity the actual odds become closer to the expected odds of winning.

Therefore, you would have to know, how often it is that you win at gambling, which is another statistic entirely.

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