Asked to Leave / Limits Cut Question
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></o>Given the player:
1. Does not chase steam
2. Does not engage in bonus whoring
3. Doesn’t engage in other suspicious activity
If a player bets with a reputable book 7 days a week at 2 or 3 bets per day ($5000 per bet) and wins on average $30,000 per month, how many months will it take before the book asks him to leave or cuts his limits?
Additional Info:
For reference the book would accept about $380,000 in action per month (an average 30.4 days per month, multiplied by an average of 2.5 bets per day, multiplied by $5000 per bet) and return to the player an average of 7.8% ($30,000) of the total wagered.
Note: the player would have to consistently win about 56% of all bets (laying –110) for the above numbers to add up correctly (an average of 76 bets per month [an average of 2.5 bets per day multiplied by an average of 30.4 days per month] with a win-loss record of about 42W-32L-2P per month).
For the purposes of this problem, let’s accept the player will win about 56% of his bets (if you have difficulty considering this high win-percentage, pretend the player is on one hell of a hot streak and wins 56% for only several months).
Assuming the mighty hypothetical player can win this much, has the appropriate bankroll (with $5000 being only 1% to 2% of his total bankroll), and has this style of betting, what is his fate according to the books? Let him continue to play? Boot him? Cut his limits? If so, how many months before the player’s betting is regulated? Something else?
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<!--[if !supportEmptyParas]--> <o
></o>Given the player: 1. Does not chase steam
2. Does not engage in bonus whoring
3. Doesn’t engage in other suspicious activity
If a player bets with a reputable book 7 days a week at 2 or 3 bets per day ($5000 per bet) and wins on average $30,000 per month, how many months will it take before the book asks him to leave or cuts his limits?
Additional Info:
For reference the book would accept about $380,000 in action per month (an average 30.4 days per month, multiplied by an average of 2.5 bets per day, multiplied by $5000 per bet) and return to the player an average of 7.8% ($30,000) of the total wagered.
Note: the player would have to consistently win about 56% of all bets (laying –110) for the above numbers to add up correctly (an average of 76 bets per month [an average of 2.5 bets per day multiplied by an average of 30.4 days per month] with a win-loss record of about 42W-32L-2P per month).
For the purposes of this problem, let’s accept the player will win about 56% of his bets (if you have difficulty considering this high win-percentage, pretend the player is on one hell of a hot streak and wins 56% for only several months).
Assuming the mighty hypothetical player can win this much, has the appropriate bankroll (with $5000 being only 1% to 2% of his total bankroll), and has this style of betting, what is his fate according to the books? Let him continue to play? Boot him? Cut his limits? If so, how many months before the player’s betting is regulated? Something else?
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></o>
