Strategic Games

Tristan was part of a gambling syndicate through the automation of online video poker machines (pdf). The business model was such that by making $10/hour on 1 machine; $100/hour can be made on 10 machines with the same amount of risk. Video poker allows for progressive jackpots and so the money is coming from the players rather than the house. Tristan developed a formula on when to start playing these jackpot games based on the size of the bankroll. This is more commonly known as the Kelly Criterion when multiple outcomes exist. At the same time Tristan was involved in a work agreement dispute claiming that he was owed money for holiday pay, late payments, superannuation and being out of work to the total of $13,000 (pdf) . However, there are risks involved in going to court from legal costs and a remarkable connection between the Kelly formula derived in video poker was applied to the work agreement dispute which was published in an established journal 'Law, Probability and Risk' (pdf). Essentially lawsuits can be modelled like a casino game.

Tristan is in search of a director for a movie based on this story.