gambling - Best strategy for machine that changes win chance weekly

Imagine you have a machine that you pay 1\$, push a button, and it will randomly give you 2$ (you win) or keep your money (you lose)Now, the probability for you to win changes every week at the same daytime, and it's chosen randomly as well between 0% and 100% using a uniform distribution (So maybe the first week you have a 37% chance to win on each bet while the next one you have an 87% on each bet), but you don't know this chance the machine has chosen.What would be the best strategy to win more times that you lose in this case asuming you ha...Read more

gambling - Odds and Betting Calculation

I need a formula to convert betting results into odds, I am trying to work out if a tipster is profitable or not.For example if the average odds were 5.0 and the tipster was correct 1 in 5 times that would mean they would be losing (assuming the same stake) over time.But if they predicted the outcome 1 in 4 times they would break even and 1 in 3 times would mean a profit.How can I show this using a mathematical formula? I think I need to convert the "1 in 5" to decimal odds to compare but not sure how.(Decimal odds of 5.0 is 4/1)...Read more

Which gambling game is less disastrous?

To clarify I acknowledge that both gambling systems will produce a loss long term.The question is, if my calculations are correct regarding them, and if one system is more disastrous than the other.First game is Keno. I select 6 numbers (to win) out of 80 and 20 numbers are drawn. I assume that each number has a 0,25 chance (for simplicity) and the payouts are as following: *6 numbers won = 1600 *5 numbers won = 50 *4 numbers won = 7 *3 numbers won = 1I will come back to keno in a bit. Moving forward to sports betting where I select...Read more

A gambling system

I was just thinking about something to do with gambling, and it occurred to me that surely you could guarantee success at a gambling game in the long run if you set aside profits.Allow me to explain. Say you had 4 betting units.If you were to flat bet one 1 unit each round, but set aside any profit that you made on top of your original 4 units. When you reach 4 units in profit or loss, (disregarding any previous winnings), you quit.Therefore, if we assume there is a 50% chance of either winning or losing your 4 units, surely there is also a cha...Read more

air travel - Could United's upgrade policy be legally interpreted as gambling?

United provides Global Premier Upgrades (GPU) to frequent fliers that can be used to upgrade one leg of a flight by one class, e.g., economy to business. However, for international flights, the economy ticket also has to be in minimum fare class ("W" typically), which is often significantly more expensive then the cheapest available ticket at time of booking. It's typically around $200-$300 more per leg. Other than being eligible for an upgrade, the higher fare class has no other benefits. That was actually confirmed to me by an United agent on...Read more

In gambling, how much should I bet to win a specific amount of money?

I have a seemingly simple problem but I can't work it out. Say I start with a bank of £20 - I would like to work out how much I should bet take my bank to £25 (assuming a win).In this case we'll assume odds of 2.00. Since the amount I want to win is £5 I could bet £5/2.00 = £2.50 however, if the bet won my final bank would be £22.50 and not £25.Can anyone point out what I'm missing here?Thanks,Matt...Read more

gambling - Fair Value of Game Involving Last Strictly Increasing Sequence

Assume there is a game that costs $\$x$ dollars to play, and costs an additional $\$1$ to roll a die each turn. You are allowed to stop the game at any time, and the amount of money you win is equal to the sum of the rolls in the last strictly increasing sequence. For example, if you decide to roll the die 6 times and your $6$ rolls are $1, 2, 3, 4, 5, 6$, then you would earn $(1+2+3+4+5+6)-6 = 15$. If you decide to roll the die 3 times and your $3$ rolls are $3, 4, 1$, then you would earn $1 - 3 = -2$. What is a fair value $\$x$ (a range is ok...Read more

gambling - Do modern day slot machines notify the manufacturer that a jackpot is about to be hit?

As I understand it, the manufacturer of the slot machine is on the hook for any progressive jackpot the machine pays out.Given that modern day slot machines use a random number generator (and knowing a few things about how RNGs are not quite random enough), is the manufacturer aware of when a particular machine will hit the jackpot?If the manufacturer is aware, is it because the machine itself notifies them in some fashion or are they aware because they can simply model the results in some simulator?EDITI recall watching a Travel Channel show a...Read more

gambling - Are slot machines purely random or do they pre-calculate every spin?

Being a computer programmer I assumed that every single spin of a poker machine was pre-calculated by the machine thus avoiding the chance of multiple large pays being payed out in a short period of time. e.g Some guy puts in 5 bucks but spins 3 x $10,000 in three spins.I am just reading a government designed pamphlet and I am surprised to see the following: There are millions of possible combinations on modern poker machines and every spin has an equal chance of bringing up a winning combinationIt does say later that the operator can change ...Read more

gambling - Is there a sure way to win? (Bet on given odds)

You have 25 numbers on a wheel.12 are number 1 : Doubles your bet. (x2)6 are number 3 : Triples your bet. (x3)4 are number 5 : Quintuples your bet. (x5)2 are number 10 : Decuples your bet. (x10)1 is number 20 : (x20) what is the name for x20?You can bet on multiple numbers at a time and the amount you want.For example :You could bet 5 on 1, 5 on 3, 10 on 5, 0 on 10 and 6 on 20.How can you maximise the amount of money you make ? Or minimise the amount you lose?Thanks !EDIT : One number only will win.EDIT2 : I am aware of the martingale betting s...Read more

gambling - Calculate slot machine game multiplier

I'm developing a slot machine game with 5 slots, each slot has 6 options (pear, lemon, ..., etc.).Each spin, 5 random values get generated, one for each slot, making the slots spin to the option bound to their random number. When 3 or more consecutive numbers get generated in a spin eg.: (12444 or 42223 or 11111) the player "wins" the spin.The won amount should be calculated depending on the number of consecutive equal numbers in a won spin, the amount the player bet that spin, and the value of the consecutive numbers (1 should be worth less th...Read more

gambling - Is there a statistical advantage in playing KENO for a long period of time?

When I was in high school there was a story about a man who won millions of dollars playing keno.The amount of money and the location appear to be true based upon this wikipedia article: In 1994, Ranogajec reportedly won a $7.5 million Keno jackpot at the leisure and entertainment complex North Ryde RSL Club, of New South Wales, after reportedly betting "significantly more than $7.5 million" to win it but coming out ahead on account of the additional, smaller prizes awarded along the way to the jackpot.My question is, with a reasonabl...Read more

gambling - Awarding the Top Players of a Video Game

Hopefully someone on here can help settle an ongoing debate I've been having with a colleague. We've been discussing different techniques which could be used to entice players of our games to continue playing. At some point the idea of "Awarding" the top X players every month was suggested. A simple example would be "The top 10 players each receive $100".To me this idea seems like it fits the definition of gambling play games of chance for money; bet. which would be illegal in my jurisdiction (unless you were a sanctioned body).My colleague how...Read more

If I turn the real money into fake currency will it still be gambling app?

My client wants to build some sort of gambling app. I said to him Google Play does not allow gambling apps and they will get removed.I also mentioned that maybe like Facebook Poker, if you include fake currency which would be purchasable with real money maybe it would not be considered gambling application.Here is his game idea: I want to make an app that people get on and put money in and raffle money, it's like gampling/raffling . Let's say I raffle 20 bucks and you put in 1dollar/99c to try and win the raffle but only after 20 people ha...Read more