A short time back, I was contacted by a casino interested in offering a high rolling blackjack player a 30% cash rebate on losses he had incurred. The player apparently made this demand to the casino, saying he would not play again unless he was given this rebate. Management was trying to understand the mathematics behind DOLs (discount on loss) before making their decision. Good for them. Unfortunately, a 30% rebate was so much higher than anything I had seen before at a table game, I fear that my overreaction may have come off as arrogance instead of well-intended advice. After our brief discussion, I haven’t heard back from them.
Received his Ph.D. in Mathematics from the University of Arizona in 1983. Eliot has been a Professor of both Mathematics and Computer Science. Eliot retired from academia in 2009. Eliot Jacobson