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Hedge Fund Manager’s $710,000 Vegas Score

Discussion in 'North American Land Based Casinos' started by kingsino, Jun 1, 2012.

    Jun 1, 2012
  1. kingsino

    kingsino Dormant account webmeister

    Occupation:
    Affiliate
    Location:
    Sweden
    Article from Wall Street Journal about a Hedge Fund Manager that won $710,000 on BlackJack.

    You must register/login in order to see the link.

    His strategy according to the article:

    "follow the instructions on a blackjack strategy card he lays out on the table" and "Each time he wins, he increases the size of his wager; similarly, he decreases the size of his wager each time he loses"
     
    2 people like this.
  2. Jun 2, 2012
  3. nisosbar

    nisosbar Ueber Meister PABnonaccred

    Occupation:
    Other
    Location:
    Right here
    IMO, this strategy has absolutely zero impact on his RTP. I suppose it's useful if you have a target $ amount you want to walk away with - but the risk you run in trying to hit that amount is that you bust out while trying to hit it. And thus, over the long-term, your RTP is exactly the same, insofar as your winning sessions vs. losing sessions would come to resemble a percentage very similar to the percentage expressed as expected RTP.

    IMHO, this story is sexy to people who like big numbers. Which, yes, is most of us, lol, but suggesting that his strategy is better than theoretically optimal strategy is foolish.
     
    1 person likes this.
  4. Jun 2, 2012
  5. kingsino

    kingsino Dormant account webmeister

    Occupation:
    Affiliate
    Location:
    Sweden
    Yep, I agree. The strategy of increasing bets when winning and decreasing when losing is something you can do if you think it's fun, like you say, it doesn't impact his RTP.

    But the smart thing he did was to play basic strategy and get lucky ;) Most people don't know how to play basic strategy
     
    1 person likes this.

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