Greeklandjohnny wrote .......
The huge seeming paradox is that every hand is independent
but if you?play long enough, you'll approach the EV of the
game. They are both?true statements.
NOTI2000 replied ..........
That's incorrect. If you "play long enough" your results will be
somewhere on a normal distribution with a mean equal to the
EV and a variance equal to the variance of one hand. What this
means is that if you "play long enough" somebody is gonna cry
uncle, either you will quit from losing too much or the casino will
kick you out for winning too much.
I guess I don't quite see the difference in what NOTI and I said.
I guess I should have put in a qualifier on the range of results or I
should have defined 'approach' better. I wanted to leave it in non
stats terms as much as possible. As a minor point, wouldn't the
variance have to include the number of hands played? The variance
of a 10 hand session has to be lower than the variance of a 1000
hand session.
It's much harder to have a -5% 100,000 hand session that a -5%
10,000 hand session.?
I can lose more dollars playing 1,000,000 hands of 10/7 double bonus
than playing 20,000 hands of 10/7 double bonus but range of returns
will be more closely grouped to the mean in the 1,000,000 hand session
than in the 20,000 hand example.
P.S. One of these days I will figure out yahoo formatting. I sent my original
post to myself in aol and it looked just fine.
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I've got