Re: So I want to casino whore
 

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just wait until you drop $500 in 10 minutes.. that'll be fun.

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or $1200 in under 5 minutes. Best time of your life.

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I've dropped $6k in one session before, but that took about 2 or 3 hours. Oh, and the software didn't pay players right (RTG)

Re: So I want to casino whore
 

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whats Expected Utility?



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Well, utility is what something is worth to you, or how useful it is to you.

For example, $100 is worth 10 times as much as $10 in actual value and in utility for most of us here. But what about $100 and $1000? $10000 and $100000? $10 million and $100 million?

For that reason, you can have +EV situations that are not +EU, since the larger amount of money isn't worth as much to you as it seems.

Here is an example of a +EV situation that many people wouldn't take (and shouldn't):

You can choose either of the following exactly once:
a) $1 million dollars
b) a 50% chance at $10 million dollars.

Obviously, the EV of b) is much higher than a), but the expected utility of that option will be lower than that of a) for many people.

edit: It is interesting to see what is the highest amount people would gamble for in the above example. People won't always choose the 'right' amount, of course, but it is interesting to see where they draw the line.

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Ok I sort of see.

In pure mathematical terms b) is +EV but in real world "I need to put gas in my car" terms, b) is -EU, correct?

Re: So I want to casino whore
 

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whats Expected Utility?



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Well, utility is what something is worth to you, or how useful it is to you.

For example, $100 is worth 10 times as much as $10 in actual value and in utility for most of us here. But what about $100 and $1000? $10000 and $100000? $10 million and $100 million?

For that reason, you can have +EV situations that are not +EU, since the larger amount of money isn't worth as much to you as it seems.

Here is an example of a +EV situation that many people wouldn't take (and shouldn't):

You can choose either of the following exactly once:
a) $1 million dollars
b) a 50% chance at $10 million dollars.

Obviously, the EV of b) is much higher than a), but the expected utility of that option will be lower than that of a) for many people.

edit: It is interesting to see what is the highest amount people would gamble for in the above example. People won't always choose the 'right' amount, of course, but it is interesting to see where they draw the line.

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Ok I sort of see.

In pure mathematical terms b) is +EV but in real world "I need to put gas in my car" terms, b) is -EU, correct?

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Yeah, thats the gist of it. It all depends on the person, though. I'm sure Bill Gates is rolling the dice here. Then giving the money to a charity because the warm fuzzy feeling has more utility to him than $10 million.

Re: So I want to casino whore
 

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whats Expected Utility?

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In economics, utility is a measure of the happiness or satisfaction gained from a good or service.

The idea is, you might not be twice as happy with 2x$ as you are with $. For instance, if you offered me a coin flip for my rent money, I wouldn't take it, even if the coin was weighted 60/40 towards winning. It'd be +EV, but I lose SO much utility when I lose rent, it's a bad move.
-Sam

Re: So I want to casino whore
 

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whats Expected Utility?

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In economics, utility is a measure of the happiness or satisfaction gained from a good or service.

The idea is, you might not be twice as happy with 2x$ as you are with $. For instance, if you offered me a coin flip for my rent money, I wouldn't take it, even if the coin was weighted 60/40 towards winning. It'd be +EV, but I lose SO much utility when I lose rent, it's a bad move.
-Sam

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Muchas Gracias Benholio and Sam.

I had always never wanted to use my own money to clear casino bonii for fear of losing it ... I now have a term to give this feeling.

-EU baby [img]/images/graemlins/smirk.gif[/img]

Re: So I want to casino whore
 

I think you can also use "risk aversed" to describe that feeling.

Re: So I want to casino whore
 

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I think you can also use "risk aversed" to describe that feeling.

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Touche. [img]/images/graemlins/wink.gif[/img]

Re: So I want to casino whore
 

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Planetluck apparently only give the $100 now for Video Poker and Slots, in their July Terms and Conditions they say no BJ, so they are out.


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I just did Planetluck a few hours ago, so you got me worried. I emailed support, and it looks like these restrictions you mention only apply to reload bonuses.

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Yes, wagering towards Blackjack games is included towards the bonus code: 100.

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Re: So I want to casino whore
 

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My average hourly rate is easily over $100/hr.

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If this is consistant...you are my god

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Do I get to be god today then?

Note: I don't whore more than 1-2 hours per day. But yeah, my hourly rate is easily that. Anyone who ever says they don't have any more casinos to whore is lying to you or 100 years old. There are always more and there are always attractive reloads. You just have to do some homework.

Note #2: I also bet $20-25 MINIMUM for any bonus, including the cryptos. If I didn't, it really isn't worth it to me. I did $100 bets I think during the whole Cirrus Casino debacle. Maybe $50 half the time.

Re: So I want to casino whore
 

Is that rate sustainable at all?