Event Coin problem

[Ravenblade1979]

Originally Posted by Googi

It's possible for people to lose 10 times in a row and (in a 50/50 scenario) will happen on average the same number of times a person wins 10 times in a row. I'm talking about averages which are what's important when talking about what kind of influence this will have on the economy.

(The odds of losing or winning 10 times in a row in a 50/50 scenario, by the way, are 0.1%).

Exactly how many casino games have you played? Out of 10 ppl I know only 1 has any luck getting 10 in a row. Myself out of 10 pulls on slots I will win maybe 2 or 3 times total.

[Gothika]

Originally Posted by Ravenblade1979

Exactly how many casino games have you played? Out of 10 ppl I know only 1 has any luck getting 10 in a row. Myself out of 10 pulls on slots I will win maybe 2 or 3 times total.

Yeah, that happens. Just because the odds are 50/50 it doesn't mean you win 1 you lose 1. It's still totally random.

[Googi]

Originally Posted by Ravenblade1979

Exactly how many casino games have you played? Out of 10 ppl I know only 1 has any luck getting 10 in a row. Myself out of 10 pulls on slots I will win maybe 2 or 3 times total.

So the probability probably wasn't 50/50?

Originally Posted by Gothika

Yeah, that happens. Just because the odds are 50/50 it doesn't mean you win 1 you lose 1. It's still totally random.

It appears you don't understand statistics. Go to Wikipedia. Type in "law of averages" and read up. Try "law of large numbers" too if you think you're really cool.