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Slots The Slotss make their money by paying off bets at less than the true odds. This is the House Edge . Lets take a look at how this effects you and your bankroll. The money it cost us to play a game in relation to the house edge is called the Expected Value or EV. The EV is actually the average outcome determined by multiplying the average Bet times the number of Hands Per Hour (HPH) times the House Edge. Based on our Chart <../bledge.htm>we can figure out the EV of any game for each hour we play. For this example we will use a $5 bet. The figure is what it costs you to play the negative expectation games, (i.e. games with a house edge).
Roulette: $5 x 50 HPH x 5.26 = $13.15
Craps: $5 x 30 HPH x 1.4 = $ 2.10
Caribbean Stud : $5 x 40 HPH x 5.3 = $10.60
BlackJack: $5 x 60 HPH x 0.5 = $ 1.50
Now, the first time I saw these figures years ago, I thought there must be a misprint. I knew that I had lost more than $1.50 playing Blackjack for and hour and sometimes I won money so how could it be? The answer to this question is a thing the mathematicians call Standard Deviation. Lets flip a coin 100 times. The EV should be 50 heads and 50 tails but it doesn’t happen this way every time. Most of the time you get more heads than tails or the opposite. The amount we stray from the EV is the Standard Deviation. You will be one standard deviation away from the EV about 68 % of the time and will be within 2 standard deviations 95 % of the time.
There is an equation for figuring this: Standard Deviation = 1.1 divided by the square root of the number of hands played. Lets say we played 100 hands. The square root of 100 is 10. we divide 1.1 by 10 and come up with 11% or 11 units (11% of 100 hands). If we are playing $5 per hand one unit would equal $5. so our standard deviation would be $55. If we are playing Blackjack , we figure that the EV is minus $2.50 for 100 hands. We find that the range for one standard deviation (68% of the time) is between: -$56.50 and +$52.50 -$2.50 + plus $55 = plus $52.50 -$2.50 + minus $55 = minus 57.50 Doubling the standard deviation will give us a 95% accurate range between: -$112.50 and +$107.50.
This is a pretty wild fluctuation for our bankroll. It also shows how bad things can get when we lose and what we can realistically expect to win. Because we are playing against the house edge our LOSES will always be greater than our WINS in the long run. The chart below shows a Bell Curve of the single and double standard deviation Knowing this, our best bet is to walk away from the table when we find ourselves in the positive range. The longer we play the more chance of getting closer to the EV which we know is negative. Now we know the Price We Pay To Play. Welcome to the Slots Gambling Forum. This is the place where you can share your ideas or ask questions of others. Feel free to comment about any Slotss you have visited or games you like to play or would like to learn. You can share some of your tips or advice with others. Trip reports are also welcome On Thursday July 23, 1998 , The Senate voted overwhelmingly 90 to 10 to try to shut down the billion dollar Internet gambling industry, calling it addictive, a corrupting influence on the young, and a source of crime growing out of control. The Bill by Sen. Jon Kyl, R-Ariz, was included as an amendment to a $33.2 billion spending bill covering the Commerce, Justice and State departments in fiscal 1999, starting Oct. 1. The Senate passed the overall spending bill on a 99-0 vote. In the House, neither the spending bill nor an Internet gambling ban measure has reached the floor, but it is expected to sweep through the House and be signed into law by President Clinton this year. “Internet gambling is unregulated, accessible by minors, addictive, subject to abuse for fraudulent purposes like money laundering, evasive of state gambling laws — and already illegal at the federal level in many cases,” said Sen. Jon Kyl, R-Ariz., chief sponsor of the measure. Unchecked, Internet gambling revenues could reach $10 billion by 2000, Kyl warned. As many as 140 gambling sites have sprung up on the Internet in recent years, and more than $600 million was wagered online last year on sports alone.
A 10-fold increase in just one year, according to the Justice Department. Most of the sites are operated by businesses based overseas, which lobbied against Kyl’s measure. Although Kyl’s provision does not detail enforcement procedures, he said he anticipates that federal law enforcement officials would carry out its requirements by identifying Web sites that provide illegal gambling and seeking court orders enjoining such activity and requiring Internet service providers to “pull the plug” on access to those sites. This would mean that the service providers would need to install filtering software to block customer access to cybergambling. If it becomes law the gambling ban would be the most far reaching internet legislation since the Communications Decency Act of 1996. That Bill which barred indecent and “offensive” materials on the net, was ruled unconstitutional by the U.S. Supreme Court last year. Under the provision, individual gamblers could be imprisoned for three months and fined $500. Businesses running gambling sites could be imprisoned for four years and fined $20,000 or three times the amount of bets accepted. Supporters of the bill argue that the ban is necessary because of the difficulty of trying to regulate “Virtual Slotss”. The easy access and anonymity for bettors makes it possible for youngsters who get their hands on a parent’s credit cards to run up debt, they claim.
Representatives of states that have refused to legalise games of chance expressed concern that residents cannot be prevented from signing in and placing wagers on sporting events or the turn of a card in virtual Slotss operated from locations thousands of miles away. A recent State Department report also criticised foreign Internet gambling operations in places like Antigua for providing a haven for money launderers. Sue Schneider, a spokeswoman for the Internet gambling industry, assailed the Senate for placing “a blockade around the U.S.” while other countries, such as Australia, permit cyberspace gambling. She also noted with disdain that Senators chose to carve out exceptions for lotteries and parimutuel betting. “It’s really not prohibition; it has exceptions,” said Schneider, who chairs the Interactive Gaming Council. The Bill contains exceptions that would allow states to conduct lotteries over the Internet. In addition, off-track betting on horse and dog races would be permitted as long as wagers are placed on subscriber-based computer systems that are not accessible to the general public. Also permitted under the measure are the popular sports “fantasy” or “rotisserie” leagues, in which fans create their own roster of professional athletes and bet on how well their teams will do. However, the fees that Internet sites charge for using these sites could not be used to pay off bets. Others opposed to the Bill include the ISP Consortium, a Minneapolis-based organisation that represents 300 internet service providers worldwide.
“We adamantly oppose the idea of turning ISPs into Traffic cops” said Justin Newton, public policy director of the group. “It is technologically impossible to track all the content that travels over the online services.” Next week I will share with you some of my thoughts about online Slotss. wanted to take this opportunity to tell all of you about some new features on the Slots Gambling site. The most exciting is the addition of the Slots Gambling Forum This is the place where everyone who logs on to this site can interact with each other. You now have the chance to share your ideas, tips and insights about Slots gambling with others who share your interest. If you have a question about a Slots you plan to visit, you can post a message on the board and get answers from someone who may have first hand knowledge about the place.
I also invite anyone to post a “Trip Report” that they think will be of interest others considering a similar trip. Do you have a question about a specific game? Why not post a message on the board. If you have a winning system or tip you want to share to help others, this is the place to do it. This is YOUR Forum and I hope you will make use of it. If you have questions about the forum you can find them in the FAQ – To log on click on the Slots Forum Link under the Community Section on the main page. You will need to register to get a user name and pass word for the Slots Gambling Forum. I invite you to join the Slots Gambling Community . By joining you can create your free membership page and automatically register you for the Forum to allow you to post. The membership page is a place where you can display your comments and views, your About.com memberships, and your favorite web sites.
(Note: You have complete control over what information you would like to display.) More benefits will come in the future and membership is free. The second feature you should be aware of is our brand new bookstore. About.com has formed a new alliance with Borders.com to bring you the best service in shopping for books online. Borders is a leading global retailer of books, music, video and other information and entertainment items. I will be updating the bookstore with my recommendations for gambling books that I know you will find informative and useful. Have you signed up for the bing-co.uk Newsletter ? It’s free and you will receive information monthly about this site.