In every casino, there are several different hypotheses used, but one of the most common is that of the Casino Ruin Theory, which is sometimes recognised as the Gambler ruin theory. This theory suggests that the player’s bankroll is compared to the profit required to achieve winning the pay by mobile slots game at work.
The literal description is that a relentless player with limited money will gradually and ultimately fail against an adversary with unlimited wealth by playing a fair game – also try Eye of Horus slot.
Importance of the theory
The casino ruin theory is important as it demonstrates a very important lesson to gamers. This theory shows gamers the issues that can emerge if they do not interpret a dilemma in terms of probability logically. The common example portrayed is a game between two people. They have a set number of coins. They then toss a coin and the winner gets a coin from the loser. If the chances of winning are 50:50 then the play lasts forever. Ultimately, one of the gamers would go bust, when all they need is just to get the entire sum of coins in a sequence. One of the gamers would inevitably go bankrupt.
Casinos are endless
The problem that many gamblers face is that they forget that if you play for long enough the house will always win. You will be on a winning streak but after a while, you will eventually begin to lose. The casino will always outlast you. You will not put a casino into bankruptcy. A casino can easily put you into bankruptcy. This is before you even consider that the house has an edge. The house will always have an edge over you. The chances of the house winning will always be higher than the chances of you winning.
Debt prevention
There is one positive in relation to this theory. Gamers usually develop a debt prevention strategy. This is commonly referred to as the halving method. Quite simply, gamers halve their bets. Any time a failure happens, the player halves the amount of money they have set as a gamble to enforce this strategy. This is used in order to minimise the risk of bankruptcy overall. This helps to protect the gamers financial stability. It also means that their fun is increased as well as the amount of time they can spend in the casino.
How to win?
It may seem impossible to win when you look at this theory but it is possible. Do not fall into traps, do not think you will always win. Have a strategy and a budget. Minimise your risks. Another example using this theory is betting more when you are losing. Gamers decide to bet more after they lose their stake. This is extremely risky and is not recommended. The chances of winning your new bet are minimal.