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Because of its attraction for wealthy players, a casino may win or lose millions of dollars a night on the game, and the house's fortunes may even affect the bottom line of a corporation's quarterly profit and loss - notations of the effects of major baccarat wins and losses are frequent in the quarterly reports of publicly-traded gaming companies. Craps Lots of casinos claim their no-download games work on Macs, but they don't. They've been a real disappointment. But Bodog worked flawlessly right in Safari. Very fast, zero problems. Consider a flipping coin game with two players where each player having 50% chance of winning each flip. After a flip the loser transfers one penny to the winner. The game ends when one player has all the pennies. If the number of flips is infinite, the probability that the game will eventually end is 100%. If player one has n1 pennies and player two n2 pennies , the chances P1 and P2 that players one and two, respectively, will end penniless are: The croupier will deal the cards according to the tableau and the croupier will announce the winning hand - either 'Player' or 'Banker'. Losing bets will be collected and the winning bets will be paid according to the rules of the house. Usually even money or 1-1 will be paid to the player and 95% to the 'Banker', 5% commission to the house. (Commission Baccarat) Some casinos pay even money or 1-1 to both 'Player' and 'Banker' except when the 'Banker' wins with a total of 6. Then the 'Banker' will be paid 50% or half the original bet. In December of 1999 I wrote the story below about Fred Marino suing Discover Card. In the wake of that lawsuit, last week Discover Card signed an agreement in California Superior court it will not operate merchant accounts with online casino companies that may do business with California residents. Since it is hard to tell if the customer is from California this may mean that players will not be able finance their online gambling with a Discover Card.
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Environment. While the luxury of a "real" casino is infallible and can't be completely reproduced by a piece of internet software however sophisticated, it serves you no good when it comes down to the thing central to the casinos - gambling. The casino athmosphere is trying to dissolve and distract you... from your money. Think about it! In a "real" casino you'd be competing not only against the groomed dealers and other players but also against the casino crowd. They'll be watching you and you will feel their sights on your back, the pressure and the push into making your move already. Have you ever thought why a casino would never have a clock - anywhere? When you step into a casino, it grabs you and distracts you. Free drinks, beautiful people and seemingly welcoming comfort of a casino will relax you and draw you away. When you choose an online casino, you remain in control. An online casino can't outdo you in the comfort of your own home and frankly, it doesn't want to either. You can play throughout your work day or work throughout your play day. No online casino will ever tell you when to come and when to go. Like they say: your home is your castle. Many riddles trick the reader into believing that they are an example of Gambler's Fallacy, such as the Monty Hall problem. Similarly, if I flip a coin twice and tell you that at least one of the two flips was heads, and ask what the probability is that they both came up heads, you might answer, that it is 50/50 (or 50%). This is incorrect: if I tell you that one of the two flips was heads then I am removing the tails-tails outcome only, leaving the following possibile outcomes: heads-heads, heads-tails, and tails-heads. These are equally likely, so heads-heads happens 1 time in 3 or 33% of the time. If I had specified that the first flip was heads, then the chances the second flip was heads too is 50%. Common gaming machines When the probability of each event is not even, such as with a loaded die, a number which has come up more often in the past may very well continue to do so, if that number is favored by the weighting of the dice. This has been dubbed Nerd's Gullibility Fallacy -- assuming the coin indeed is fair and the gamblers are honest when it isn't the case. This is an example of Hume's principle: twenty times tails on row implies that it is far more likely that the premise of a fair coin is wrong and coin is forged, than that the initial premise is correct and the next toss will be fifty-fifty heads or tails. Normal (aka "late") surrender. [edit]
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