Last night I gambled at Atlantic city. Don't ask how much I lost but ask what I gained. ;)
I could understand their modus operandi well:
1. They have more machine controlled games than human controlled ones. The ratio is nearly 5:1. The reason is simple, machines don't commit mistakes unknowingly.
2. The algorithm they have implemented on those machines is very simple:
For example, if you start to play with one of those machines with $20 then you will loose and win within the credit of $15 - $20 for some 4-5 cycles. 3-4 times it will let you gain your credit beyond $20 by a small amount of $1.5 to $2.
Then you start loose gradually: no shocks, no drastic losses but couple of drastic wins! Soon you will find yourself playing in the credit range of $10-$15. You stay here for 4-5 cycles, then you move down to the credit range of $5-$10.
Expect one instance of sudden win in the credit range of $15-$17 at this point of time!
But thats it. You will be smoothly brought down in the credit range of $1-$5 and soon you will be out!
Of course once in a while you will find some old lady in her wheelchair shouting and celebrating her $500 win! But who knows whether she gets a regular pay check from the gambling host or not!
The hopes are always high and spirits challenged. Revenge and desperation brings you back to the gambling again and again!
Long live the mathematics of probability and long live the curious and adventurous human minds!