Long term and short term

[Ozzy]

Forgive me if I'm asking an elementary question but I see in your discussions you use long term and short term.

My question: is there really a long term? Isn't most gambling nothing but short term decisions?

Example #1 Craps

The shooter throws the dice. No matter what the previous result was the shooter has, for example, a one in 36 chance of throwing 12. The previous roll has no impact on the current roll and the current roll has no impact on the roll to come. So isn't craps just a series of short term, one roll decisions?

Example #2 Video Poker

The electronic deck is reshuffled with each play. Each play has 52/53 cards. Since each hand is independent where is the long term?

Example #3 Six Deck Shoe in Blackjack

Here it's different. After each hand the remaining cards will have different totals. So as you approach the cut card for the reshuffle you could argue that you are nearing the long term because there is a finite number of cards available.

Help me out here.

Bumping this thread to tribute the VCT forum legend AndrewG. Hopefully he decides to reappear after a prolonged absence.

[tableplay]

Forgive me if I'm asking an elementary question but I see in your discussions you use long term and short term.

My question: is there really a long term? Isn't most gambling nothing but short term decisions?

Example #1 Craps

The shooter throws the dice. No matter what the previous result was the shooter has, for example, a one in 36 chance of throwing 12. The previous roll has no impact on the current roll and the current roll has no impact on the roll to come. So isn't craps just a series of short term, one roll decisions?

Example #2 Video Poker

The electronic deck is reshuffled with each play. Each play has 52/53 cards. Since each hand is independent where is the long term?

Example #3 Six Deck Shoe in Blackjack

Here it's different. After each hand the remaining cards will have different totals. So as you approach the cut card for the reshuffle you could argue that you are nearing the long term because there is a finite number of cards available.

Help me out here.

Bumping this thread to tribute the VCT forum legend AndrewG. Hopefully he decides to reappear after a prolonged absence.

I'm hoping the same for Teflon Ron.

[Alan Mendelson]

There was an agreement some time ago that my attorney's assistant was not going to post here again.

[MisterV]

There was an agreement some time ago that my attorney's assistant was not going to post here again.

Too bad; he had a lot to learn and what better place to learn how to flame, insult and debase one's fellow gamblers than here?

[Alan Mendelson]

There was an agreement some time ago that my attorney's assistant was not going to post here again.

Too bad; he had a lot to learn and what better place to learn how to flame, insult and debase one's fellow gamblers than here?

You're starting to mellow. This is not the same V from rec.gambling.craps

[MisterV]

You're starting to mellow. This is not the same V from rec.gambling.craps

Yeah, getting older and contracting prostate cancer (currently in remission) can cause unexpected consequences.

I no longer feel compelled to present myself as the "angry young man," a disputatious asshole who enjoyed flaming and stirring the pot; now it's more like "the mellow old hippy."

But I ain't a good boy: I still challenge and attack others, esp. at Diversity Tomorrow.

[Alan Mendelson]

God bless you V.