Guy loses 30 million, sues casino

[devilbiss]

http://www.theage.com.au/news/nation...166698664.html

[nutsflopper]

"Johnny Williams said that we will let you bet more than what Vegas allows you, up to $300,000 per hand, and we will give you a 20 per cent rebate on losses."

omg +EV

[MediaPA]

This guy would make a great American.

[mo42nyy]

serioosly how the [censored] can u lose with a 20 % rebate

[Sooga]

[ QUOTE ]
serioosly how the [censored] can u lose with a 20 % rebate

[/ QUOTE ]

Maybe he was playing Keno.

[Greg (FossilMan)]

[ QUOTE ]
serioosly how the [censored] can u lose with a 20 % rebate

[/ QUOTE ]

You think so? I wish it weren't illegal, or I would invite you to play roulette with a 20% payback on losses at my house. The only way you can have an edge is if you only play short sessions and then demand your payback. If you come out for a week, and play a few hours a day, and then we settle the 20% if you lose, you will still be a long-term loser in this game. Just not as much.

If we pick a game with a lower house edge, like craps, I will still come out ahead in the long run. I just need your sessions to be that much longer before you're entitled to a payback on losses.

Later, Greg Raymer (FossilMan)

[MasterLJ]

And they say America:

1. Is full of retards
2. Is the King of the frivolous law suit

Thank you, Mr-I-lost-$30-millliiioooON, for making America look that much less stupid.

[mingorama]

[ QUOTE ]
[ QUOTE ]
serioosly how the [censored] can u lose with a 20 % rebate

[/ QUOTE ]

You think so? I wish it weren't illegal, or I would invite you to play roulette with a 20% payback on losses at my house. The only way you can have an edge is if you only play short sessions and then demand your payback. If you come out for a week, and play a few hours a day, and then we settle the 20% if you lose, you will still be a long-term loser in this game. Just not as much.

If we pick a game with a lower house edge, like craps, I will still come out ahead in the long run. I just need your sessions to be that much longer before you're entitled to a payback on losses.

Later, Greg Raymer (FossilMan)

[/ QUOTE ]

I don't know that I agree with the last statement. Playing longer certainly will flatten out the peaks and valleys (effectively preventing someone from leaving after hitting a hot streak), but playing optimal strategy (max odds on line bet, and staying away from bets with high house edge like Field/Hardways/Horn), the 20% loss payback would not equal a net benefit. With an irrational gambler like this guy, sure it's a good idea... but I don't know that I agree with a blanket statement like that.

[captZEEbo]

[ QUOTE ]
serioosly how the [censored] can u lose with a 20 % rebate

[/ QUOTE ]i'll give you a 50% rebate to play at captzeebo's casino

[grando]

[ QUOTE ]
[ QUOTE ]
serioosly how the [censored] can u lose with a 20 % rebate

[/ QUOTE ]i'll give you a 50% rebate to play at captzeebo's casino

[/ QUOTE ]

awesome, I'm totally in

1 hand baccarat for my roll

48% of "doubling up" and 52% of getting half my money back

++++++EV