http://www.theatlantic.com/magazine/arc ... _page=trueDon Johnson won nearly $6 million playing blackjack in one night, single-handedly decimating the monthly revenue of Atlantic City’s Tropicana casino. Not long before that, he’d taken the Borgata for $5 million and Caesars for $4 million. Here’s how he did it.
Nice to know the odds don't always favor the house
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Turdacious
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Nice to know the odds don't always favor the house
"Liberalism is arbitrarily selective in its choice of whose dignity to champion." Adrian Vermeule
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DrDonkeyLove
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Re: Nice to know the odds don't always favor the house
Reminds me of the Taleb's Black Swan. The house relied on a bell curve based on tens of thousands of hands, not expecting a sharp guy who negotiated better rules and who played a short term streak perfectly.
95% of the Black Swan was beyond me but the ludic fallacy comes to life here.
95% of the Black Swan was beyond me but the ludic fallacy comes to life here.
Mao wrote:Political power grows out of the barrel of a gun. Our principle is that the Party commands the gun, and the gun must never be allowed to command the Party
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Turdacious
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Re: Nice to know the odds don't always favor the house
That book has been officially added to my reading list. Thanks Doc!DrDonkeyLove wrote:Reminds me of the Taleb's Black Swan. The house relied on a bell curve based on tens of thousands of hands, not expecting a sharp guy who negotiated better rules and who played a short term streak perfectly.
95% of the Black Swan was beyond me but the ludic fallacy comes to life here.
"Liberalism is arbitrarily selective in its choice of whose dignity to champion." Adrian Vermeule
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DrDonkeyLove
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Re: Nice to know the odds don't always favor the house
Gladwell's, "What The Dog Saw" has a good article on Taleb and explains him and his view on investing more clearly than Taleb himself does to my tiny mind.
It's also a very interesting book in its own right.
It's also a very interesting book in its own right.
Mao wrote:Political power grows out of the barrel of a gun. Our principle is that the Party commands the gun, and the gun must never be allowed to command the Party