Dear Mark,
I believe in your theory that each spin of the roulette
ball is an independent event. So betting streaks is futile. But leaving
common sense behind for just a moment, is there any minute reason to bet a
streak? And if so, with it, or buck the odds? Harry C.
You know me well, Harry. You-and, I hope, most readers-recognize that no
amount of past history (looking backwards from a streak) on a random,
non-biased wheel predicts the outcome of the next spin. Each spin is, as
you say, an independent event, and the law of averages says nothing
about a single spin. (Another name for the law of averages is "the law
of very large numbers"; and there's a reason for that.) A streak is
nothing more than a welcome, momentary flutter in an endless time-line
which will soon be canceled by one or more unwelcome flutters. Only
those who surf on a basketball should risk their money on streaks.
But okay, Harry, for interesting discussion's sake, and with your pistol
at my temple, I will confess that I would bet with a streak, not against
one.
Why? Any gambler who's racked up some playing time knows that the
improbable can and will happen on any game, on any given night. I have
personally seen red appear more than 20 times in a row, and I once dealt
to a lady who won 32 straight hands at blackjack (at only a deuce per
hand; too bad), and on craps have witnessed players making their "point"
for what seemed like eternity.
In such as these cases, if you bet the streak and are wrong, you lose
only that bet. But if you bet consistently against a streak, you're
heading for tapped out and home for the holidays. That is why, in my
right mind, I wouldn't buck the odds.
Dear Mark,
I have never hit a royal flush. Figuring that at the
age of 78 I may never get a royal, do you know of any systems that can
give me an edge without ever hitting one? Charlie B.
Sorry, Charlie, there is no video poker system that gives you an edge
against the house without hitting a royal. Keen play will cut your
losses between royal flushes, but even that will not give your play an
even chance against the casino. Without that elusive royal flush,
Charlie, your expectation is to lose, and no system can change that.
Dear Mark,
Will the Lottery make prize payments to a living trust
of a winner who receives annual installment payments? Maggie F.
Each state, Maggie, has different regulations, but in California, where
you live, the answer is yes, provided you survive the required
bureaucratic tangles: file the appropriate form with the Lottery
Investments Office. That form, Declaration and Assignment of Lottery
Prize to Revocable Living Trust, can be requested through the Lottery,
to make payments to a living trust, as long as the prize winner is the
person funding the trust and is a beneficiary of the trust.
Hopefully, Maggie, you will live another score of years and spend a good
chunk of your winnings while still kicking. Then, after your demise, the
remaining annual payments will be made to the surviving trustee(s) or
beneficiary (ies).
Gambling quote of the week: "The sad truth is that many
players view the casino as an adult theme park, with their gambling
stake being the price they pay to be taken for a ride." Marvin
Karlins Ph.D.
