What a waste of a post.
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In
this thread, someone asked,
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I think I have found a system that could make anyone money, playing roulette. [Martingale betting progression.]
Why doesn't everyone do this?
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Someone responded, in part,
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If your bankroll is bigger than the house's and they allow you to play with a sufficiently high limit at the table, you can beat the crap out of them, through a simple progression.
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If you think that my (intentionally provocative) comment did not have
anything to do with the question whether progressions are good or bad, please try to infer from my comment the following :
What happens when your bankroll is NOT bigger than the house's and they WILL NOT allow you to play with a sufficiently high limit at the table?
Hint: Your only hopes of crushing the bank were those two conditions. So, without 'em, i.e.
under conditions prevalent everywhere in casinos, you are busted, for sure, because progressions are no good in "reversing edge sign".
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I'm a professional mathematician.
[/ QUOTE ] Thanks for the information. I'm truly sorry to see that you are also a professionally stubborn mule. To wit: You have tried to ridicule the endeavors in Blackjack of poster cardcounter0, by asking him about
his bankroll strategy, etc.
What you have missed though (instead of seeing the connection that is necessary to make with finite BRs and finite lifetimes - we are NOT talking St. Petersburg here) is this very simple premise:
Cardcounter0 is playing with an edge over the house! (Just like the house plays with an edge in Roulette over the player that asked the original question.) Since cardcounter0 has an edge over the house, why is he playing with all that risk aversity and Kelly nonsense ?? Shouldn't his edge just carry him to positive-EV-land ?
That's what my comment was (pretty casually) trying to lead the discussion into. An area where a lot of things remain misunderstood, despite the efforts of many posters here (eg BZ) and elsewhere. I am bored by discussions about progressions (answer: they don't work - next question) which have nothing fresh or interesting to bring to the room.
Take care.
--Cyrus