QI - How Can You Win Money From a Casino? REACTION

[@Pterodactylus548]

Movie "Rainman" (Dustin Hoffman as Raymond "Ray" Babbitt Tom Cruise as Charles Sanford "Charlie" Babbitt Valeria Golino as Susanna) is a good example of how casinos work.

[@MrAlexBun]

Gambling is perfectly legal in the UK, though heavily regulated. Many pubs will have a a couple of slot machines, and a bookmakers shop (ie a sports book) is a common feature in most towns. Casinos exist in the cities, but are not as universally frequented as the first two. Online bookmakers and casinos are also popular. And, of course, like the US, there is betting at horse race tracks and other similar sports.

[@the_yorkshire_pudding]

Plus various lotteries!!

[@leec6707]

I have family in California. I was staggered that online gambling is banned there. Just what are the 'freedoms' the US is so proud of?!

[@HenrikJansson78]

Pretty much the same in Sweden. Except that casinos are very rare, they have made a few tries with them, but they only held out for a couple of years, then they went bankrupt. I think there is only one left in Stockholm now.

[@davidmckie7128]

In England we called the old slot machines "One Armed Bandits".

[@neon-rust]

Same in Sweden, but in Swedish "Enarmade banditer" 😉

[@MrAlexBun]

As the old joke goes, when Paul McCartney got divorced from Heather Mills he started playing the slots. He thought it would make a change losing his money to a one-Armed bandit.

[@GorgeousRandyFlamethrower-]

Futurama had one of the best casino jokes ever. Two casino owners are giving a tour of their casino: "This is the biggest casino on the planet! Someone wins a million dollars every hour" "Usually it's us!"

[@handsolo1209]

I first used a slot machine when I was 8 or 9. Seaside resorts always had huge arcades, and back then they had the one arm bandits that took 2p coins.

[@Cnith]

I think I remember a documentary about a guy that made a small computer/device that could help you win at roulette. It required you to click a button when the ball passed certain points around the roulette and it could predict, not exactly where it would land, but where it would be within a small area, which is obviously a big advantage. Then I think it'd tap the answer to you on your leg, hidden away of course.

[@robertphanny3484]

I've never heard so much codswallop in all my life 🤣🤣🤣

[@Cnith]

@@robertphanny3484 Well, it's real. It was on Discovery or Nat Geo I think. Apparently it forced casinos to get new equipment that would make the ball behave even more randomly.

[@donepearce]

You need to read a book called The Newtonian Casino about beating roulette. A bunch of students found a way to time the wheel revolutions and the motion of the ball. This method allowed them to predict which half of the wheel the ball would land in. This was enough to shift the odds their way. They got found out and banned, of course.

[@jameshumphreys9715]

You have to have a gambling license, gambling in the UK is controlled by the gambling commissioner, the UK has loads of bookmakers.

[@bstapylton-smith1940]

Did you guys know that David Mitchell's wife Victoria, is a renowned poker player

[@chrisparti]

World level... She paid her mortgage off with the winnings from one tournament

[@Thisandthat8908]

She also said in the Off Menu podcast that Casinos are much less welcoming and generous with food and drinks and stuff to Poker players, because they don't play against the bank (the Casino) but against each other. So the Casino makes far less money. And because of that, Poker has at least partially to do with skill and is not just "luck" like a slot machine.

[@disposablehero4911]

Well she did marry David so yeah, taking chances everywhere.

[@moonramshaw1982]

The dozens and columns on roulette pay 2:1. If you bet 2 of them you are covering 2 thirds of the wheel excluding zero which is just short of covering 66% of the wheel. The odds say you will win more than you lose

[@TheSwert]

in the long term you will still lose due to the zeros.

[@zerogo40]

We have bookmakers, betting shops in every town ,18 years of age to place a bet . Horse racing and greyhound racing are popular but since online betting started football/soccer is really popular to place bets . My town doesn't have a casino but the town nextdoor does oh nearly forgot about bingo.

[@55tranquility]

Gambling is legal in the UK but it's regulated, you have to be over 18 to participate. A licence is required for anyone or place that wants to take bets, casino's, bookmakers, horse racing, online gambling etc - this includes lottery tickets and scratch cards etc.

[@larey12]

The martingale staking plan is a surefire way to lose your entire bank.

[@buckleyi]

Did you know that in America the roulette wheel contains two zeros which gives the house even more advantage whilst In the uk there is only one zero on wheel?

[@drcl7429]

I didn't know that and I didn't believe you until I looked it up. That is shocking.

[@peteleonard9568]

@@drcl7429 most have 3 zero wheels now giving 39 numbers and you still only get paid 35/1

[@darrellpowell6042]

Its 07.04 am in the UK. Good morning.

[@samhilton4173]

Update: it is now 7:14 This may change

[@dallasgrant]

I was watching COPS a few months ago, I found it so odd that the service station, 7/11 had slot machines/pokie machines, it was so bizarre, here in Australia they're kinda hidden away in rooms where it's dark and you can't tell what time of day it is, to see them in just regular stores, blew my mind, Vegas truly is a gambling city.

[@danielwatkins1982]

Hello Jodie and Nick really enjoy your channel 😂

[@BoringReviews]

Thanks

[@HalkerVeil]

Gambling is allowed in other states with loopholes. In Missouri they can only do it on the river. Because the law says it can't be a structure which implies a building. So they put it on a boat.

[@martingregory9881]

Nick is right people rarely mention the losses but always keen to mention the wins . I used to work with a lady whos husband was a professional gambler and she once told me that her wages were hers and hers alone and she would never give it to her husband even if he had a bad week . I do not know if it still applies but if you bet on the horse at a betting shop ( bookies ) you have the choice to pay the tax on just the bet when you put the bet on so if you win your winnings are tax free but if you decide not to pay the tax on the bet then the winnings are taxable .

[@adamcashin4021]

I can remember having to do this 20 odd years ago. Weirdly it was due on 'Sports' bets (bookmaker bets) but not on Casino betting. The Government had to remove the tax due to the rise of the online Tax haven 'based' gambling sites, that essentially meant the UK ones couldn't compete (why bet with a British bookmaker and pay the tax, when you could bet on an international one online and avoid it). Yes technically the Govt could decree that gambling winnings were income and therefore taxable whether the bet was made in the UK or abroad, but as gamblers lose money on average, doing so would actually lead to the average gambler being able to write off some of their income and lower their income tax liability. Therefore they had no choice but to abolish the tax on actual betting. I believe instead the tax burden was shifted over to the bookmakers; though not sure how.

[@DavidSmith-cx8dg]

Plenty of High street betting shops about in the UK many of which do on line gambling , pubs and clubs can have slot machines and there are Casinos , but it is regulated to some extent . Presumably with card counting they have the right to refuse your bet . There is currently an investigation involving politicians placing bets on the General election date .

[@stephenhitchen8753]

Went to a casino with a friend, I lost £10 called it a night, he lost his weeks wages and wanted to carry on.

[@BoringReviews]

So dangerous. You’re the smart one

[@dazediss6629]

Martingale method in games of chance like Nick is talking about is a way of increasing your odds generally, but you need to remember all games are rigged in favour of the house. On a roulette wheel you can bet on red or black as colours - keep in mind there are 2 numbers on a roulette wheel which are green (0 & 00), where the casino will take everything. There’s no way to beat a casino, the best way to win is to play against other players rather than games of chance. Which is why poker is so popular, because you’re directly playing against your opponents and not against the house. The house is just happy to keep you in the casino and hopefully you spend money whilst you’re there.

[@silkeedee1]

In the UK and Europe, there is only one zero. If you are betting on the even chances - red, black, odd, even, low or high - and zero comes up, you lose half your stake...

[@anthonyg4671]

Doubling will not work because of the table limits.

[@Rokurokubi83]

Here in the UK gambling is legal and regulated.

[@alecrichardson1949]

Q: How do you walk out of a Casino with a small fortune? A: Walk into one with a large fortune.

[@MikeSmith-ye9ho]

The only legal way of making money from the casino is get a job there

[@FayeSless-di3jg]

No, there's a far better way - own it! (unless you're Trump who can't even make a casino pay).

[@4Kandlez]

@@FayeSless-di3jg Yeah he should get some tips off the Biden crime family on how to launder Chinese under the table payments through fake business accounts. Or he could do what Hunter did and get a chimpanzee to make a painting and "sell" it for $1M 🐵🤣

[@annother3350]

@@FayeSless-di3jg Trump the billionaire?

[@FayeSless-di3jg]

@@annother3350 The one and only convicted felon! Trump Plaza Hotel and Casino was just one of the MANY businesses he has bankrupted.

[@FayeSless-di3jg]

@@annother3350 The one and only convicted felon. Trump Plaza Hotel and Casino is just one of the MANY businesses he has bankrupted.

[@drcl7429]

Is gambling illegal in the UK? Well. I think you should probably find a video about gambling in the UK to react to. You might find it very interesting... Everybody quiet!

[@Not_really]

I like that touch of Dastardly & Mutley tee hee heee, at the end. I'll be here for it when they get round to that. 😂

[@handsolo1209]

Locals in Vegas gamble every time they walk outside. Is Gabe going to run us over in his limo today?

[@silkeedee1]

Card counting is all but impossible to implement in most casinos around the world because the last quarter to a third of the cards are not dealt before ALL the cards are reshuffled and dealing recommences. Card counting only works when you have an idea of what the last approximate quarter of the remaining cards are, and these are not dealt before reshuffling...

[@jameshumphreys9715]

I watched the film, where he get the students to card count.

[@Erulin68]

Quite obviously being good at math and probability calculations will give you an edge in things like Blackjack and Poker. We should really ask David Mitchell's wife Victoria. In 2006 she became the first woman to win the European Poker Tournament and the next year she became the first person to win it twice.

[@deggsymarley]

The sad thing is more money lending shops equal betting shops in run down areas , also no one will invest there

[@Turalcar]

5:09 The plan requires infinite money to work. Let's say you only have 1023 dollars. Then there is ~1 in 784 chance that you just lose all the money instead of getting 1 dollar back. So, on average you still lose.

[@allanheslop4493]

On holiday with my parents in the early sixties I put a sixpence in a slot and won 5 pounds, bought the whole family lunch the next day , 7 of us

[@ct5625]

My sister plays bingo and whenever she wins £50 (maybe once every six months) she makes a big deal out of it, when I ask her how much she's paid and not won it's like her brain is incapable of doing maths and she enters an alternative reality where everything is "nearly free". I dread to think how much money she's just given away over the last 30 years. Can you tell I'm not a gambler? If I was rich enough to throw money away I would invest in the stock market.

[@GroovingPict]

if you double each time, then yes you will eventually win when the correct colour comes up, but you only win the original money, so it's not worth the risk of a string of bad luck as most casinos have a maximum bet size and then what do you do. So if you start with a dollar, and lose, then bet 2, then 4, then 8 and lets say you win when you bet the 8, which means you go 8 in plus on that bet, but youve already lost 1+2+4=7, so you're only up 1 dollar, exactly the same as if youd won on that initial 1 dollar bet. And it's the same no matter how far it goes, you will only ever be up that initial bet of 1 dollar. And if you lose many in a row, suddenly you're betting 1024 dollars in order to make a profit of 1 dollar, then you lose that and youre betting 2048 dollars... and 4096 dollars... all just to make that profit of 1 dollar. So you have to have *a lot* of money with you, all for the chance of winning pocket change. And of course if you hit the max bet limit you're fucked

[@Uatu-the-Watcher]

How to make money from a casino? Two guaranteed ways: 1) Work for them 2)Tax them

[@scottcrosby-art5490]

Hate gambling with a passion

[@JamesLMason]

What you described with the roulette wheel is the gambler's fallacy, where you wrongly believe that the outcome of your actions is more or less likely to occur due to what has gone before when applied to a random event.

[@johndobson5375]

gambling is legal in the UK if you are stupid enough. The odds against winning are universal and very very small.

[@kenhobbs8565]

Viva Las Vegas

[@XENONEOMORPH1979]

its not cheating the best way to win a game is by calculation , it is not cheating , using your memory , what the casinos think you should only win by chance , the casinos also wants the house to win so who is really cheating , the house .

[@FayeSless-di3jg]

Your perfect plan doesn't work. Starting at $2 and doubling up every time, even if you won on every 2nd spin, after six rounds you would have spent $126 dollars and won only $87. You're a teacher, do the math(s)!

[@rasmusn.e.m1064]

The point is that you increase the bid to cover all of your previous losses each time/exponentially and stop once you win.

[@johnadams9314]

I think there's something up with the maths there. According to the system you've outlined (which isn't quiet the system Nick described) you bet 6 time starting with 2 and doubling each time so the bet amounts are 2, 4, 8, 16, 32, 64. You win every second spin according to your example so that's the 4,16, and 64 bet spins. In that case you lose the 2, 8 and 32 spins so your total loss taken by the casino is $42. The stakes are returned on the bets you win and winnings on top are $4, $16 and $64 so $82. under your example the net position is +$42. Under the actual martingale system you start again at the minimum level following every win. The system works in theory if the table had infinite limits and you have infinite resources. Every win covers all accumulated losses and provides a profit of the amount of the initial bet. But the doubling means you will be betting very large sums in very short time (to make a profit of a very small amount). Table limits would be hit very often before a win, stopping you from doing the doubling. but even without table limits the doubling means that you would be betting your entire bankroll pretty soon. Say you start with a $1bet on black, 19 reds in a row would mean that on the 20th spin you'd be betting over a $1million to make a $1 profit

[@helenwood8482]

Your friend is a fool.

[@michaelclarke5153]

Seems only Donald Trumpanaged to bankrupt a casino, as owner...