Gambling. Slot machines. Easy money. Many people dream of getting rich through gambling. But for some reason they do not succeed.
Who really makes good money in gambling are the owners of casinos and slot machines. Because all casinos, lotteries, slot machines are set up in such a way that they always win in the end. That is because all the algorithms inside them are not genuinely honest and have a shifted mathematical expectation.
Take, for example, slot machines. Yes, a player can win playing slots, and even very well – 200 dollars per 1 invested dollar. However, the probability of this event is extremely small. And to make this probability happen, the player needs to make hundreds and thousands of attempts, spending his dollars each time.
As a result, the player simply goes bankrupt faster than the casino. And never got to his coveted $ 200. Or achieved, but already spending many times more.
Personally, I love challenges with modeling and probability calculations. But not for the purpose of beating the casino. For a long time I tried to develop strategies for trading on stock markets. And I even managed to achieve positive expected value (although for short periods of time).
About my stock trading strategies I will definitely write in future posts. Today I am going to tell you how I modeled results of a real slot machine with Python.