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Thread: Jacobson's Gambling Loss Rebate Theorem

  1. #1
    Join Date
    Dec 2009
    Atlanta area

    Default Jacobson's Gambling Loss Rebate Theorem

    Finally!! Eliot Jacobson has come up with ...

    The Loss Rebate Theorem

    I wrote out the following theorem that rephrases these results into terms that allow them to be applied to loss rebates:

    My purpose in this theoretical effort is to be able to quickly determine the values of b and x that maximize the APs return for a given game G and loss rebate L. Towards that end, I first wrote a computer program to output the values obtained from the three formulas given in the Loss Rebate Theorem for any values of b and x. For any particular situation, I modified the program with some additional logic to have it solve the problem of maximizing the win for the AP, that is, finding the best possible b and x. My program then output the player’s loss-exit point, his win-exit point, his probability of winning, his expected playtime and his win amount. It took about an hour to write the program and a matter of milliseconds to complete each computation.

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    Last edited by zengrifter; July 8th, 2013 at 06:25 PM.

  2. #2

    Default Loss Rebate Theorem Excel SPREAD SHEET

    Just what we've all been waiting for, from that "Elijay guy" as Mac endearingly refers to him!

    Loss Rebate Theorem EXCEL SPREAD SHEET

    I created an Excel spread sheet that computes the optimal stopping point for a loss rebate advantage play opportunity using the Loss Rebate Theorem (LRT). You can download it free of charge (and at your own risk) by clicking here:

    Based on the recent Revel loss rebate promotion, the default settings are for 9/6 Double Double Bonus video poker, with an 800 unit bankroll, a 100% loss rebate and a wager size of $125. The house edge is -1.019217% and the standard deviation is 6.479582.

    Image of default set-up -

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