3. Persuade a gullible casino to change the rules, so that the odds are in your favor. Apparently that's what Johnson did. It's hard to believe that a big name casino would allow themselves to be so easily suckered. But that being the case, one could win easily enough by employing a simple playing strategy, and consistent and conservative MM.
There are definite parallels there to trading. Edge + conservative MM + consistent execution = $$$.
David[/quote]
hi hanover
this was the interesting bit for me,he realised that overall casinos were showing declining profits over an 18 month period due to new establishments gaining licences.this in turn led to the casinos extending there risk to increase profit,greed.he was able to negotiate favourable betting terms to bring the odds to 50/50,he never doubted his skill .i can compare this extended risk in a similar way to the banking industry leading up to the collapses.
yes i also found it interesting.
There are definite parallels there to trading. Edge + conservative MM + consistent execution = $$$.
David[/quote]
hi hanover
this was the interesting bit for me,he realised that overall casinos were showing declining profits over an 18 month period due to new establishments gaining licences.this in turn led to the casinos extending there risk to increase profit,greed.he was able to negotiate favourable betting terms to bring the odds to 50/50,he never doubted his skill .i can compare this extended risk in a similar way to the banking industry leading up to the collapses.
yes i also found it interesting.