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A comment on Gambler’s Fallacy and the Regression to the Mean. Parent comment

Re:Gambler’s Fallacy and the Regression to the Mean by zerof1l on Friday January 07, 2022 @06:25PM (#29846406)
Fun fact, the actual roulette wheel in casino has green zero. When betting on any color, you will always have less than 50/50 odds.
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Re:Gambler’s Fallacy and the Regression to the Mean by lloydgrossman on Friday January 07, 2022 @06:29PM (#29846434)
Funner fact, many even have a green double zero as well to tip it even further.
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Re:Gambler’s Fallacy and the Regression to the Mean by gexla on Friday January 07, 2022 @07:26PM (#29847055)
Nice points being made here. American roulette has double zero, European roulette has a single zero. The zero(s) represent the house edge and that's what the casino makes its money from.

Even funner fact, even if there isn't a zero and you truly get 50/50 odds, you'll still hit ruin over the long run because the house has "unlimited money."

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Re:Gambler’s Fallacy and the Regression to the Mean by galaxyLogic on Saturday January 08, 2022 @06:50AM (#29850790)
Why doesn't competition work here? Shouldn't somebody open a casino in Las Vegas with only a single 0 and thus attract more customers?
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