I think you are confusing odds (which is what a bookmaker offers) with probability (which is the likelihood of something occurring).
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I think you are confusing odds (which is what a bookmaker offers) with probability (which is the likelihood of something occurring).
Lord Bracknell
On fire
Either way, you have hit the nail on the head. The organiser ends up better off than the punter.
Vegas Seagull
New member
- Jul 10, 2009
- 7,782
60,000 tickets are sold each week in the Lotto with the same combination 1,2,3,4,5,6.....if they came in there would utter joy across the nation, for an hour, until they were all told they had won two bob each
EDS
Banned
- Nov 11, 2012
- 2,040
Just cloud the issue further lol. In all probability we are all discussing odds/probability on a thread where someone has admitted to having a gambling problem and the odds are that makes us all insensitive ****s
Do any compulsive gamblers actually do the lottery anyway?
EDS
Banned
- Nov 11, 2012
- 2,040
I bet they do
Moshe Gariani
Well-known member
- Mar 10, 2005
- 12,199
The Martingale system [sic] applied to roulette is the epitome of so-called strategy nonsense...
nail-Z
Well-known member
Only by buying £100 worth at 7pm on a Saturday night as the bookies just shut and they ran out of scratch cards.
Eaglesdestroyseagulls was using the term odds correctly; odds is a recognised term in probability theory.
Yup, I was trying to be kind to him HT!
EDS
Banned
- Nov 11, 2012
- 2,040
But now you are patronising instead of admitting you were wrong. Also I still think I am right.
nwgull
Well-known member
I don't think you are wrong; I know you are wrong.
jgmcdee
New member
- Mar 25, 2012
- 931
But odds as quoted by a bookmaker are a measure of how much money you will obtain if an event occurs, rather than the probability that the event will occur, which is the use of the term 'odds' in probability theory.
Probability theory states that for a (perfect) single die the chance of rolling a 6 on a single throw is 1 in 6. No way that a bookie will ever give you 5/1 on that.
Weatherman
New member
- Jun 10, 2008
- 323
There is a system based on the fact that numbers 0-36 never in reality come out in 37 consecutive spins, therefore numbers will double up. I'd assume you would have to be mathematically nimble and have deep pockets for a small return.
Mathematically you are totally wrong.
nwgull
Well-known member
Once a zero has been spun, the chance that the other 36 numbers will come in 36 spins is 1 in 760 trillion (US trillions). Given the number of roulette wheels that have been spun around the world every day for decades, the chances are that it has happened.
nail-Z
Well-known member
Well, 1 in 766,879,127,067,901,
but a good point well made. Sounds a lot more probable than that, but maths is maths.
Mtoto
Well-known member
- Sep 28, 2003
- 1,858
A confusing one though, since anyone who is not a full-time probability theorist is only likely to come into contact with odds which have a margin built in.
More to the point, as some have pointed out, this is a thread started by a problem gambler who is seeking help, and may well show up close to the top of a Google search by other problem gamblers seeking the same. It already includes Justice's delusional rambling about making money from roulette, and seems to be heading even further off-topic. Might it be an idea (is it even possible?) to de-merge Justice, odds, probability theory etc into a new thread?
Seagull58
In the Algarve
I'm afraid your logic is also rather flawed. Buying a second ticket does indeed halve the odds of winning but buying a third ticket does not halve the odds again. You have to add the odds not multiply them. Buying 3 tickets gives you 3/120 = 1/40, buying 4 tickets gives you 4/120 = 1/30, buying 7 tickets gives you 7/120 = 5.833333333% chance of winning. Join the dunces club.
Seagull58
In the Algarve
Yes you do!