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Old 03-03-2018, 11:07 AM   #6
Dave Schwartz
 
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Location: Reno, NV
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Quote:
Originally Posted by Saratoga_Mike View Post
The Winner was a work of fiction. This guy (Dave's article) was actually beating the lottery by only playing into "carryovers."
Yes, the logic is very sound. Just like progressive slot machines. (Oh, the casinos hate those guys. Actually the same principle as why the tracks should hate winners: they take money out of the pool -- then they can't win it).


Quote:
Interesting how the MIT group "forced" the carryover.

Indeed! Back in the 80s I was mildly involved with a "slot team" for a short time. They'd watch progressives that were approaching the point of profitability and jump in when it went positive.

Unfortunately, there was competition and sometimes the other teams would get there first.

The head genius figured out that if they moved a little early, they'd have a losing proposition for a short time but get the seats.

BTW, actually knew a team who went broke on a progressive. Found out that "under-capitalization" was a big deal in that "industry."


Dave
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