General Gambling Questions For Me

David Sklansky · #1 12-01-2006, 02:59 AM

This includes poker questions that aren't about a specific strategy and general probability questions.

_TKO_ · #2 12-01-2006, 03:42 AM

Discuss the positional advantage in the game of Post, as well as where your edge comes from.

The rules are as follows:

Every player antes $1. The action starts with the player left of the dealer. The dealer deals out two cards. If the first card is an A, the player may choose whether it acts as a high card or low card. The player must wager anywhere from $1 to the size of the pot that the next card off the deck will be between the two initial cards (if the cards are equal or connected, there will be a redeal). The player is paid even money if the card is in fact in the middle. If the card is outside the range, the player's wager is added to the pot. If the card is equal to either of the cards, then the player must forfeit double his wager to the pot. The game ends when one player takes the entire pot.

goodsamaritan · #3 12-01-2006, 03:46 AM

You are a contestant on a high stakes version of Deal or No Deal. There are two cases left: $.01 and 1 billion dollars. What is the lowest deal you would accept? Assume that there is no trickery and your probability of picking the 1 billion dollar case is actually 50%

WelshMackem · #4 12-01-2006, 05:50 AM

I think this one is as much about your initial financial security as it is about gambling theory.

For example, Bill Gates would presumably go No Deal and try for teh $1,000,000,000 whereas a 100% chance of $1,000,000 would be too much for most ordinary people to even consider risking a gamble on.

BluffTHIS! · #5 12-01-2006, 06:32 AM

1) If a gambler spent the necessary time to become a very good handicapper in one or more sports, as in basically full time, BUT did not also throughout the day constantly monitor the opening lines or movements in same either online or in a B&M sportsbook, could he still beat sports? That is, if he got up late, checked the lines only twice a day and either bet them or not at those limited times, would that be sufficient?

2) What general type of heuristic do even excellent professional handicappers make insufficient use of?

Mickey Brausch · #6 12-01-2006, 07:40 AM

You said once that you are "surprisingly strong" and I assumed this was in reference to your physical strength and not your strategy for tic tac toe.

This kind of "surprising" physical strength ever provided you with some kind of edge in the game of poker? It's a general question so the edge could come from any aspect of the game. (Ignore the obvious ones, such as extra stamina.)

Mickey Brausch

David Sklansky · #7 12-01-2006, 07:44 AM

Not that I can think of.

Alex/Mugaaz · #8 12-01-2006, 07:06 PM

What % of people who become successful full time gamblers would of been happier (overall) going into a mildly boring job for less money? Would you?

PairTheBoard · #9 12-01-2006, 08:12 PM

Can the Horses be beaten? If so how? Have you beaten them? If so, by how much in relation to your poker winnings?

PairTheBoard

Dementia · #10 12-01-2006, 08:51 PM

David,

What criteria must one meet to be considered an expert handicapper for the NFL? Is betting 5 games a week each season and winning 65% of all selections sufficient? And would this calibur of a handicapper gain EV if he chose to include higher-payout parlays into his plays? More specifically, would the steady performance of his straight bets make the losses accounted for in the parlays okay? Assume he were making 5 straight bet each week, then wagering on 6 games for his parlay with payout odds of 47.41/1. After five years of using this sytem how much more can he expect to average a season betting $400 each straight bet & parlay?

Dem