Man gambles life savings on one spin

[mzkhadir]

YT

 

[amdhunter]

Viral video marketing at it's best here... :disgust:

 

[BillGates]

I remember when this happened a couple years ago....

Link: http://www.cnn.com/2004/SHOWBIZ/TV/04/12/roulette.win/

 

[iamaelephant]

Bet he wishes he picked 7....

 

[JEDI]

Originally posted by: amdhunter
Viral video marketing at it's best here... :disgust:

viral marketing???

edit:
ah.. never mind.. watched the end of it

 

[ryan256]

I was betting he'd lose it.... oh well.

 

[Kev]

blah

 

[BrunoPuntzJones]

Yeah I bet $5 on roulette once too

 

[jiwq]

the video made me jump for joy!

 

[DrPizza]

not watching the video... (dialup) However, unless you're playing for entertainment, mathematically speaking, the smartest gamble IS to bet it all on the first spin.

 

[akshatp]

Originally posted by: DrPizza
not watching the video... (dialup) However, unless you're playing for entertainment, mathematically speaking, the smartest gamble IS to bet it all on the first spin.

Explain.

 

[mrrman]

I couldnt risk my savings

 

[akshatp]

Originally posted by: mrrman
I couldnt risk my savings

Because most tables have a $10 minimum bet rule?

 

[Darthvoy]

Originally posted by: DrPizza
not watching the video... (dialup) However, unless you're playing for entertainment, mathematically speaking, the smartest gamble IS to bet it all on the first spin.

why? isn't every spin independent of one of another?

 

[akshatp]

Originally posted by: Darthvoy

Originally posted by: DrPizza
not watching the video... (dialup) However, unless you're playing for entertainment, mathematically speaking, the smartest gamble IS to bet it all on the first spin.

why? isn't every spin independent of one of another?

I think he is talking about it mathematically, although I would still like an explanation of why it is better to put it all on the first spin.

 

[Mucho]

You couldn't buy that kind of publicity.

 

[SViper]

ha. If I were willing to risk my life savings on something, I would play something with better odds of winning. The house has a 55/45 advantage in roulette.

 

[Syringer]

Originally posted by: akshatp

Originally posted by: Darthvoy

Originally posted by: DrPizza
not watching the video... (dialup) However, unless you're playing for entertainment, mathematically speaking, the smartest gamble IS to bet it all on the first spin.

why? isn't every spin independent of one of another?

I think he is talking about it mathematically, although I would still like an explanation of why it is better to put it all on the first spin.

Because your chances of winning are less than 50% on each roll, the more times you play the lower your chances are of coming out ahead.

I remember proving this in a stats class once, but don't remember the exact explanation..

 

[Syringer]

Originally posted by: SViper
ha. If I were willing to risk my life savings on something, I would play something with better odds of winning. The house has a 55/45 advantage in roulette.

a) If you're betting on a color, odd/even, or half of the board, you have a 9/19 chance of winning.
b) That's about as good as you'll do in a casino.

 

[OVerLoRDI]

Lucky. I wouldn't even consider gambling like that.

 

[z0mb13]

so did he win. how much did he gamble

 

[tfcmasta97]

Saw this on the news a few years ago. my mom said hes an idiot, and i agree

 

[Paul Ma]

He must have a convex utility function- he is hurt less by the disutility of losing 100K versus the gain of 100K.

 

[JEDI]

Originally posted by: DrPizza
not watching the video... (dialup) However, unless you're playing for entertainment, mathematically speaking, the smartest gamble IS to bet it all on the first spin.

that guy was an idiot. there are several places in Vegas that offer since '0' roulette, which would have helped his odds of betting 'Red'

if i were to risk my life savings, i would have picked a better game. hm.. heck all but 1 popular table game in Vegas is better than Roulette's 5% house edge.

if would have picked blackjack, mini-bacarat and bet the house, or 'Don't line' in Craps.

 

[akshatp]

Originally posted by: JEDI

Originally posted by: DrPizza
not watching the video... (dialup) However, unless you're playing for entertainment, mathematically speaking, the smartest gamble IS to bet it all on the first spin.

that guy was an idiot. there are several placed in Vegas that offer since '0' roulette, which would have helped his odds of betting 'Red'

He might have been an idiot before the spin, but he ended up winning, so no one will notice