Hello, and welcome to my fellow Lurkers this is my Probability Study Group
My name is Underlord I like the Casino
I am creating this thread so we as a group can beat the house once the Casino opens again.My name is Underlord I like the Casino
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The goal is to Explore the optimal strategies and which game has the greatest probability in our favor.
Also remember LC Coins have no value. This is just a for fun.
On the side note, Do not ask legality of the gambling in relation to LC Coins being a reward for donation, ask a lawyer not me. Overall, I am a free user and just having fun with LC Coins I have earned by engaging with the community.
Currently I can only give little information on the games since I was only able to play two of them which are: Blackjack and Roulette.
Blackjack gives you 120% pay out. Which means it is the payout it to small and the risk is to high avoid it. I remember getting a Blackjack Ace and a Face Card and the pay out was still the same.
Roulette is the best based on what I have seen but since I have only played two of all the games this might be wrong. the 200% pay out for Black or Red is nice.
Blackjack gives you 120% pay out. Which means it is the payout it to small and the risk is to high avoid it. I remember getting a Blackjack Ace and a Face Card and the pay out was still the same.
Roulette is the best based on what I have seen but since I have only played two of all the games this might be wrong. the 200% pay out for Black or Red is nice.
- Probability of getting green (0): Approximately 2.7% or 1 out of 37
- Probability of getting black: Approximately 48.6% or 18 out of 37
- Probability of getting red: Approximately 48.6% or 18 out of 37
As you can see, with probabilities close to 50% and considering the minimum bet of 1 LC Chip and the maximum bet of 10,000 LC Chip, we are able to employ the Martingale system. Let me explain what the Martingale system:
The Martingale system is a simple betting strategy that is sometimes used in games with nearly 50/50 odds, such as flipping a coin or betting on red or black in roulette. However, it is important to note that the system is generally more effective in bets that offer at least a 200% payout ratio.
Here's how it works: You start by placing a bet on one side of the coin, let's say heads, with a certain amount of money. If the coin lands on heads and you win, you collect your winnings and start over with the same initial bet. However, if the coin lands on tails and you lose, the Martingale system suggests that you double your bet on the next round. The idea is that eventually, you will win and recoup all your previous losses, plus make a profit equal to your initial bet. If you win the next round, you go back to your original bet size and start the process over. But if you lose again, you double your bet once more and continue this pattern until you eventually win. The main concept behind the Martingale system is that, statistically, a win is expected to occur at some point, and when it does, it should cover all your previous losses and give you a net profit equal to your initial bet.
Limitations and Downsides to the system:
The Martingale system has limitations and risks due to the betting limits imposed in the casino, ranging from a minimum of 1 chip to a maximum of 10,000 chips in regard to the Roulette. While the minimum bet allows for gradual progression, the maximum bet limit restricts doubling indefinitely. Moreover, a prolonged losing streak can rapidly deplete funds, making it challenging to recover losses within these limits. Therefore, it is important to consider these constraints and associated risks when using the Martingale system.
I will add more findings once it opens and I play more.....I will need to check out coin flip and see how much the payout is.
If you have any good strategies on how to win against the house share it here.
Final Reminder:
It is essential to remember that when engaging in LC Coin gambling activities, you should only wager what you are prepared to lose. Also remember this are LC COINS not real money and this is just for fun. If you were smart you should just put it all in the bank and get that 2% interest every 24 hours.The Martingale system is a simple betting strategy that is sometimes used in games with nearly 50/50 odds, such as flipping a coin or betting on red or black in roulette. However, it is important to note that the system is generally more effective in bets that offer at least a 200% payout ratio.
Here's how it works: You start by placing a bet on one side of the coin, let's say heads, with a certain amount of money. If the coin lands on heads and you win, you collect your winnings and start over with the same initial bet. However, if the coin lands on tails and you lose, the Martingale system suggests that you double your bet on the next round. The idea is that eventually, you will win and recoup all your previous losses, plus make a profit equal to your initial bet. If you win the next round, you go back to your original bet size and start the process over. But if you lose again, you double your bet once more and continue this pattern until you eventually win. The main concept behind the Martingale system is that, statistically, a win is expected to occur at some point, and when it does, it should cover all your previous losses and give you a net profit equal to your initial bet.
Limitations and Downsides to the system:
The Martingale system has limitations and risks due to the betting limits imposed in the casino, ranging from a minimum of 1 chip to a maximum of 10,000 chips in regard to the Roulette. While the minimum bet allows for gradual progression, the maximum bet limit restricts doubling indefinitely. Moreover, a prolonged losing streak can rapidly deplete funds, making it challenging to recover losses within these limits. Therefore, it is important to consider these constraints and associated risks when using the Martingale system.
I will add more findings once it opens and I play more.....I will need to check out coin flip and see how much the payout is.
If you have any good strategies on how to win against the house share it here.
Final Reminder:
My total loses:
Hope strategies do not get countered by the House....keep the odds close to 50% please....
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