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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/120020

    Title: How do advantage players exploit casinos' premium offers? Simulations and solutions
    Authors: Hsu, Wen-Jen;Chie, Bin-Tzong
    Keywords: Advantage players;casino management;premium offers;simulations;stochastic process
    Date: 2020-08-18
    Issue Date: 2021-03-04 12:15:05 (UTC+8)
    Publisher: Routledge
    Abstract: This paper uses computational and stochastic measures to demonstrate the negative impacts on the casino business of advantage players that legally rely on their knowledge to continuously make profits at licensed casinos worldwide. We present the stochastic process utilized by the advantage players to make profits from premium offers. We show in detail how players estimate the probability of reaching the win goal, the net-expected-win value, and the total expected return. In addition, a simulation is conducted to determine the amount of the starting capital that is needed before participating in games. The findings provide significant implications that advantage players are capable of exploiting premium offers and profiting from the casinos.
    Relation: International Gambling Studies, 1-18
    DOI: 10.1080/14459795.2020.1801794
    Appears in Collections:[Graduate Institute & Department of Industrial Economics] Journal Article

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