gtatix
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I took the following excellent synopsis from this website:
http://www.trade2win.com/boards/newthread.php?do=newthread&f=54
The Eudaemonic Pie - Physicists tend to be good at mathematics. A few years ago, the American Physical Society had its annual convention in Las Vegas, during which the conference hotel/casino took a serious financial hit. The hotel rented out rooms to the conference at below cost, planning to make the difference back and more from the gambling losses of conference goers. However, the physicists just would not gamble. They knew that the only way to win was not to play the game.
As reported in Thomas Bass's entertaining book The Eudaemonic Pie, this team built a computer small enough to fit in the heel of a shoe, and programmed in the necessary equations. Finger or toe presses at reference points on the wheel were used to enter the observed speed of the ball. It was necessary to carefully conceal this computer because otherwise casinos would be certain to ban the players [the] moment they started winning.
Did it work? Yes, although they never quite made the big score in roulette. Like Thorp, the principals behind this scheme were eventually driven to Wall Street, building systems to bet on stocks and commodities instead of following the bouncing ball. Their latter adventures are reported in the sequel, The Predictors.
Read more about Doyne Farmer and Norman Packard here:
SIAM: Vanishing Crystal Ball Gives Way to the Best Black Box in the Industry
I didn't read either book. I did see a long special on the roulette machine. I KNOW that it worked - as Farmer and Packard said it did. What I find laughable is that they say they didn't continue because the machine failed. Sweat alledgedly caused faulty wiring and false signals. They apparently had an edge of somewhere in the neighbourhood of 40%!!!!!!!!!!
Further reading into their exposes into the world of market speculation and neural computer technology points the reader into a direction that makes us believe these guys had a lot of trouble making things work. I don't believe this either.
Does anyone know more about Farmer and Packard and whether any of their software or working models are available anywhere?
http://www.trade2win.com/boards/newthread.php?do=newthread&f=54
The Eudaemonic Pie - Physicists tend to be good at mathematics. A few years ago, the American Physical Society had its annual convention in Las Vegas, during which the conference hotel/casino took a serious financial hit. The hotel rented out rooms to the conference at below cost, planning to make the difference back and more from the gambling losses of conference goers. However, the physicists just would not gamble. They knew that the only way to win was not to play the game.
But another group of physicists did once develop a sound way to beat the game of roulette. A roulette wheel consists of two parts, a moving inner-wheel and a stationary outer-wheel. To determine the next "random'' number, the inner wheel is set spinning, and then the ball sent rolling along the rim of the outer wheel. Things rattle around for several seconds before the ball drops down into its slot, and people are allowed to bet over this interval. However, in theory, the winning number is preordained from the speed of the ball, the speed of the wheel, and the starting position of each. All you have to do is measure these quantities to sufficient accuracy and work through the physics.
As reported in Thomas Bass's entertaining book The Eudaemonic Pie, this team built a computer small enough to fit in the heel of a shoe, and programmed in the necessary equations. Finger or toe presses at reference points on the wheel were used to enter the observed speed of the ball. It was necessary to carefully conceal this computer because otherwise casinos would be certain to ban the players [the] moment they started winning.
Did it work? Yes, although they never quite made the big score in roulette. Like Thorp, the principals behind this scheme were eventually driven to Wall Street, building systems to bet on stocks and commodities instead of following the bouncing ball. Their latter adventures are reported in the sequel, The Predictors.
Read more about Doyne Farmer and Norman Packard here:
SIAM: Vanishing Crystal Ball Gives Way to the Best Black Box in the Industry
I didn't read either book. I did see a long special on the roulette machine. I KNOW that it worked - as Farmer and Packard said it did. What I find laughable is that they say they didn't continue because the machine failed. Sweat alledgedly caused faulty wiring and false signals. They apparently had an edge of somewhere in the neighbourhood of 40%!!!!!!!!!!
Either these guys are liars or they are very ethical!
You don't make hamburger out of the cash cow!
Further reading into their exposes into the world of market speculation and neural computer technology points the reader into a direction that makes us believe these guys had a lot of trouble making things work. I don't believe this either.
Does anyone know more about Farmer and Packard and whether any of their software or working models are available anywhere?
